12 Indian Startups Making News This Week (30 October- 05 November)

06/11/2017
Financial-Growth-Funding

Consumer Internet Industry

1) EdGE Networks founded by Arjun Pratap: Bengaluru-based EdGE Networks, an AI-driven HRTech solutions company secured $4.5 million in Series A round of funding from Kalaari Capital and Ventureast. The startup will deploy the capital to strengthen its core product offerings for workforce optimization and talent acquisition.

2) Freshboxx founded by Rohan Kulkarni: A fresh produce supply chain management startup Freshboxx raised an undisclosed fund in a seed round funding led by Belgaum Industrialist Joint MD of Ashok Iron Works. It first rotated the business model in January 2016 and soon it would be rolling out HoReCa in some of the places to strengthen the bottom line.

E-commerce Industry

3) Bigbasket founded by Abhinay Choudhari, VS Sudhakar and Hari Menon: An online grocery startup BigBasket secured $8.02 million in funding from four of its existing investors. The startup funding round was led by Abraaj Basket, Bessemer Venture Partners along with International Finance Corp and Sands Capital.

Technology Industry

4) Kalpnik Technologies founded by John Kuruvilla: Venture Catalysts made a seed investment worth $500K into Mumbai-based AR/VR tech startup Kalpnik. The investment was led by Ashwani Kakkar (Mercury Travels & Via.com), G G Gulati (Chairman, United Group of Institutions), Bobby Reddy ( Indus Homes), Dr. Tinku Acharya (Co-architect-Webcam & MD-Videonetics), and Raja Sahi ( SVP, Pixelogic Media) and more along with  investments from professionals from leading companies like CISCO, 24/7 etc. Vansh Gulati from UGI and Anuj Puri from Venture Catalysts will be joining the board of Kalpnik. The startup will deploy the funding to develop content for hundreds of temples and gurus and onboard the same on its platform.

5) AadhaarAPI founded by Ritesh Kothari: An Aadhaar-based technology startup, Aadhaar API raised an undisclosed amount in an angel round of funding led by CIO Angel Network (CAN). The round was from Kalpana Maniar, CIO Edelweiss; Sanjay Mehta, Private Investor and Anoop Mathur, Founder of CIO Angel Network. The freshly raised funding will allow the company to boost its operations and scale up.

Healthcare Industry

6) Netmeds founded by Pradeep Dadha: An online pharmacy Netmeds secured $14 million funding from Cambodian investment holding company Tanncam. The round also saw the participation of the Sistema Asia Fund. The startup is looking to use the capital infusion for expanding its geographical reach across India. The last aim is to make affordable healthcare available to the masses.

Agritech Industry

7) Gobasco founded by Abhishek Sharma, Vedant Katiyar and Pranshu Aditya: New-Delhi and Lucknow-based agritech startup Gobasco raised an undisclosed amount in its seed funding round from Matrix Partners India. The startup will use the raised funds for scaling and building a full stack commerce platform that yields higher operational efficiency, improves realizations for farmers, reduces wastage and boosts price and market discovery for agricultural commodities.

8) Gold Farm founded by Abhilash Thirupathy: Agritech startup, Gold Farm secured $2 million in an angel funding led by Mahindra & Mahindra and Infuse Ventures. The newly-secured capital from VC fund Infuse Ventures and Mahindra will be used to expand the company’s services across most village districts in Karnataka. The funding will also help infrastructure building and farmer outreach programmes.

Finance Industry

9) OneAssist founded by Gagan Maini and Subrat Pani: Mumbai-based OneAssist Consumer Solutions secured an undisclosed funding led by Arun Sarin, Former Chief Executive Officer of Vodafone Group Plc as part of the Series C funding.

Fashion Industry

10) Benoit founded by Vishal Singh: Deepak Nathani, Cybage co-founder picked up 30% stake in fashion startup, Benoit. The investment amount remains undisclosed. This funding will be used for scaling-up faster by adding more designs and expanding the marketing efforts. The brand also stands to benefit with Nathani’s sustained mentorship which will help the firm grow.

Sports Industry

11) HalaPlay founded by Swapnil Saurav: Kae Capital, along with Nazara Games made an undisclosed amount of investment in HalaPlay, a Mumbai-based daily fantasy sports platform. The startup uses data analytics and machine learning to help users draft teams, analyze their playing behavior and help them to improve fantasy skills. The goal is to increase sports fan engagement and improve viewership for sports by making matches interesting for its users.

Education Industry

12) Meritnation founded by Pavan Chauhan and Ritesh Hemrajani: Delhi-based e-learning platform Meritnation secured $5.8 million from online classifieds platform Info Edge. With the funding, Info Edge now holds a 66% stake in Meritnation. The freshly-raised capital, $5 million will be spent on paying off some of Meritnation’s debt on its books, while the remaining amount will be infused towards scaling the startup’s daily operations.

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