15 Indian Startups Making News This Week (22 January- 28 January 2018)

29/01/2018
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Consumer Internet Industry

1) Paymatrix founded by Anusha Kurupathi Parambil, Mukesh Chandra Anchuri and Muralidhar Nayak: Hyderabad-based end to end rent management platform Paymatrix raised $4K led by International Institute of Information Technology-Hyderabad’s IIIT Seed Fund. The startup was a portfolio company of Axis Bank’s accelerator programme and was among five fintech startups recently shortlisted for PayPal’s India Incubator Challenge.

2) Advantage Club founded by Smiti Deorah, Sourabh Deorah: Gurugram-based Advantage Club, a platform for employee perks and reward & recognition, raised $300K from Axilor Ventures, Mumbai Angels, Purvi Ventures, and Prominent Individual Investors including the existing investors Avtar Singh Monga (COO IDFC Bank), Amit Singhal and Manish Agarwal (Startup Buddy directors). The funds will be deployed to boost the reward and recognition program, building distinguished features and redemption options.

E-commerce Industry

3) MilkBasket founded by Anurag Jain, Ashish Goel, Ekwe Chiwundu Charles and Yatish Talavdia: Gurugram-based online grocery startup, Milkbasket received $3 million funding in a Pre-Series A round from Unilever Ventures. The startup plans to utilize the latest funding and Unilever’s expertise to strengthen technology as well as in expanding their assortment and customer base and monetizing other streams of revenues.

Technology Industry

4) Paperflite founded by Anant Bhat, Vinoth Kumar and Yega Kumarappan: Chennai-based SaaS startup Paperflite secured $400K in a Seed funding round led by The Chennai Angels. Lakshmi Narayanan, ex-Vice Chairman and ex-CEO of Cognizant, along with Like Mind Ventures and an HNI group led by Adrian Rusu from Singapore also participated in the deal, both of whom will join the board as Observers. With its affordable cost to small businesses, the startup aims to drive higher growth.

5) Skillate founded by Anand Kumar, Bipul Vaibhav and Kumar Sambhav: AI-based HRTech startup Skillate secured an undisclosed amount of funding from Incubate Fund India, and Industry expert and Director of Zyoin, Anuj Agrawal, says co-founder Anand Baranwal. The newly raised funding will be deployed to accelerate product development, expand its team and reinforce marketing initiatives to ramp up its customer base in India and abroad.

Entertainment Industry

6) Spoofin founded by Siddhant Sahni: Mumbai-based video-based entertainment platform, Spoofin secured an undisclosed amount of funding from Mumbai Angels Network. The app allows users to interact and manipulate video content by way of an intuitive creator’s studio, equipped with video editing, voice-over and audio imposing capabilities. The launch of their MVP in the international markets is scheduled early 2018.

7) BookMyShow founded by Ashish Hemrajani, Parikshit Dar and Rajesh Balpande: Mumbai-based BookMyShow is in final talks with private equity firm TPG Growth to raise $50 million- $ 60 million. BookMyShow might be valued at $750 million with this fundraising.

Fintech Industry

8) OptaCredit founded by S.Kumar Srivatsan: OptaCredit, the alternative-lending fintech startup, secured an initial $4 million credit line from DMI Finance. The credit facility will be directly imbibed in aiding the company’s present financial offerings in aiding salaried customers across India to get access to timely and transformational credit.

9) WealthTrust founded by Jasmin Gohil and Nisarg Gandhi: Mumbai-based digital INVESTMENT advisory startup WealthTrust secured $500K in a Pre-Series A round of funding led by IndiaQuotient on LetsVenture. The funds will be deployed for product enhancement and growth of India’s first Zero Commission wealth management app.

10) NBFC: Mumbai-based non-banking financial company (NBFC) /digital lending platform NeoGrowth Credit raising $47 million in equity funding from investors from LeapFrog Investments. Existing investors Aspada INVESTMENT, Company and Quona Capital have also participated in the fundraising, through Accion Frontier Inclusion Fund.

Healthcare Industry

11) Axio Biosolutions founded by Leo Mavely: MedTech startup Axio Biosolutions raised $7.4 million in a Series B round of funding from Ratan Tata’s RNT Capital. Existing investors Accel Partners and IDG Ventures India also participated in the funding round. The startup plans to utilize the funds for expansion to new markets while continuing to work on high-impact medical products.

Education Industry

12) GreyAtom founded by Mitul Thakkar, Mayuresh Shilotri and Shweta Doshi: Mumbai-based edtech startup GreyAtom raised $1 million in a funding round from early-stage fund Pravega Ventures. The startup will utilize the raised funds to develop its innovative AI-based learning solution Commit.Live. GreyAtom further aims to use the raised funds in further strengthening its ecosystem of quality instructors, hiring partners and academia.

13) AEON Learning founder Karthik KS: Edtech startup, AEON Learning raised $3.2 million in a Series B round of funding from MEMG Family Office LLP, a fund set up by Dr. Ranjan Pai, chairman of the Manipal Education and Medical Group. The edtech startup plans to deploy the latest investments towards growing business from its university partnerships and skill programmes. The startup expects to reach a student base of over 100K in the next five years and is currently operating in India and the US.

Real Estate Industry

14) ZiffyHomes founded by Salil Agarwal, Sanchal Ranjan and Saurabh Kumar: Gurugram-based home Rental Service Startup, ZiffyHomes raised $314.6K as seed funding from Bikky Khosla, Angel Investor, and CEO at TradeIndia.com and Anirudh Agarwal, Managing Director at Shree Sharda Group.  The duo will also join ZiffyHomes as Board Members to mentor the team for fast growth. The startup plans to use the freshly-raised capital in infrastructure expansion including exclusive studio Apartments which would further cater to the niche segment of executive class accommodation.

Food & Beverage Industry

15) HungerBox founded by Sandipan Mitra: Growth Story-promoted B2B foodtech company, HungerBox closed a Pre-Series A round of funding of worth $2.5 million from Lionrock Capital and Kris Gopalakrishnan, Co-Founder, Infosys.

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