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Indian startup that raised funding this week (4 July 2015 – 10 July 2015)

11/07/2015
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Let`s have a look at the startups that raised funding this week:

1) Bangalore based Elanic, an online marketplace for selling and buying women’s pre-owned fashion goods has raised an undisclosed amount of seed funding from Singapore based Japanese venture capital firm Rebright Partners, Sachin Bansal and Binny Bansal backed-Tracxn Labs, and Angel investor Aneesh Reddy. Elanic was founded by Palkush Rai Chawla, Abhilash Narahari and Aditi Rohan in 2015. The company plans for a pan India expansion with the newly acquired funds.

2) StitchWood, an online home decor marketplace managed by Tangramme Furnishing Solutions Private Limited, has raised a second round of angel funding of $394K led by angel investment club Powai Lake Ventures. Other investors in this round include Ajeet Khurana and two other angels. The company previously raised $100k from Ajeet Khurana and other angels. The company will invest the raised amount to grow its technology and operation team and as marketing spend, focusing on digital and social media.

3) Bangalore based Urban Tailor offers end to end tailoring services which own and operates by Vestido E-Tailoring Services Pvt. Ltd, has raised an undisclosed amount of seed funding from a group of angel investors (mostly ex-Myntra executives). The company will deploy the funds raised towards improving customer experience & marketing.

4) Bangalore based mobile focused train ticket discovery and prediction platform, ConfirmTkt has raised undisclosed amount of angel funding from multiple investors including Pravin Agarwala, an IT industry veteran. The company aims to utilize the raised funds to improve its technology, hire new talent and to grow as a ticket discovery tool which can show all the possible ways to get a confirmed ticket.

5) Gurgaon-based Hector Beverages Pvt Ltd, which manufactures soft drinks and beverages under the Paper Boat brand, has raised $30 million in Series B round led by Belgium-based investment company Sofina and China’s Hillhouse Capital. The company is now valued around $100 million. The company will invest the raised fund to launch four Paper Boat flavours, increase manufacturing capacity, and hire senior executives. The funding will also help the company to expand presence of Paper Boat across the country. It is also planning to launch television campaign in September or October.

6) Retail Labs that runs GetNow.at, which is an online marketplace for groceries, electronics, mobiles, computers, home and office supplies, has received an undisclosed amount in seed round of funding from Atulya Mittal, nephew of steel tycoon Lakshmi Mittal and founder of Avan Projects. GetNow will use the funding in building technology and expand more into the Nagpur market.

7) WudStay Travels Pvt Ltd, which owns and operates online room booking portal WudStay.com, has raised $3 million in Series A round of funding from venture capital firm Mangrove Capital Partners and Nimbuzz CEO Vikas Saxena in exchange of undisclosed equity stake. Founded in June this year by Prafulla Mathur, Wudstay is launched with an aim to provide a budget accommodation hotel to avid travellers. WudStay will use the money to ramp up its technology platform, increase team size and expand its presence to around more than 60 cities in India including Delhi, Mumbai, Agra and Udaipur.

8) Mumbai based non-brokerage real estate research company Liases Foras, has raised $5 million from DMG Information Asia Pacific, a subsidiary of British media company DMGT. Liases Foras with an aim to increase its business stake in future. These funds will be used in hiring key management team members, increase its presence in major metros and launch two new verticals- Monitoring Services and Automated Valuation.

9) Bangalore based Eatlo, a food tech startup has raised an undisclosed amount in angel round led by Powai Lake Ventures, Globevestor and Abhishek Goyal of Tracxn Labs. The proceeds will be utilized towards increasing delivery locations to 20 from current 7, upgrading back end technology and hiring 100 employees across teams.

10) IndiaLends, a Delhi-based financial technology startup has raised an undisclosed amount in its pre-Series A round of funding led by Singapore based DSG consumer Partners and a few angel investors including private equity investor Siddharth Parekh. Funds raised will be used by the startup to expand its footprint across the country and further build its technology.

11) Pune-based a personalized food recommendation app Quinto, has raised an undisclosed amount of seed funding from Faaso’s Jaydeep Barman. The company will invest the raised fund to accelerate engineering and marketing team, also work on their recommendation engine, creating extended food ontologies, and improve the natural language processing engine that will help in user interaction as well as data collection.

12) Music-streaming service Saavn has raised $100 million in capital in a new Series C round of funding from Venture Capital firm Tiger Global Management, Bertelsmann India, Steadview Capital, Liberty Media, Mousse Partners, and Quilvest. India’s largest music streaming company values at $400 million. The company has raised close to $126 million, including the latest round. The new funding will help Saavn compete with domestic music streaming providers such as Hungama and Gaana as well as global services like Rdio and Apple Music.

13) Flytxt, a Big Data analytics solution provider has raised $11 million from Sunrise Capital and Big Data Investments B.V. with participation from its existing investors. Mumbai based Flytxt provides Big Data analytics solutions for Communication Service Providers (CSPs) and Mobile Enterprises across the globe. This fresh funding will be used to enhance market reach, build new products for CSPs and extend mobile consumer analytics solutions to other industry verticals.

14) Axtria, a big data analytics startup has announced a $30 Million in Series C round of funding led by Helion Venture Partners. The investment firm has led the round with an investment of $15 million. Other investors who have invested in this round include Silicon Valley venture capitalist ‘Desh’ Deshpande along with existing investors Amar Sawhney, Rick Braddock and Fred Khosravi. The funding will be used to accelerate hiring, build a sales force, increase marketing, develop products and expand markets including new verticals and geographies.

15) Kanpur based 33coupons.in, a recently launched coupon aggregator site, has raised angel funding of $20,000 from an undisclosed investor. 33coupons founded by Sanjeev Kumar, is a tool to find exciting online coupons and various deals available on all leading online stores in India. The funding amount will be used to improve their existing mobile site, desktop site and to launch an android based application and also towards marketing and promotions activities.

16) Ratan Tata, chairman emeritus of Tata Sons, has invested an undisclosed amount in Ampere, a Coimbatore-based electric vehicle start-up founded by an woman entrepreneur. The start-up was founded by Hemalatha Annamalai. She will use the funds to scale up operations and hire talent over two years. Ampere manufactures economical electric scooters, e-cycles, e-three wheelers, customised e-vehicles for the differently-abled, and EV chargers. It currently has dealers in Karnataka, Kerala and Tamil Nadu.

17) Restaurateur Gaurav Goenka-owned Mirah Hospitality has acquired 30% stake in Gritty Foods LLP, a venture that runs a bespoke chef service for small gatherings at home under the Hopping Chef brand, for $470K. Hopping Chef seeks to connect consumers with professional chefs online. The chefs can then be hired to cook at the customer’s premises to meet dining needs of a small gathering. Chefs bring their own ingredients to cook based on the pre-set menu and charge on a per-head basis. The deal, which values the firm at $1.6 million, was founded by Shaival Chandra, Dhaval Udeshi and Sid Ugrankar last year. The venture is currently operational in Mumbai and will be expanding its network to Bangalore by September followed by four other metros within six months.

18) Bangalore based celebrity fashion lines firm and the parent of online venture Collectabillia, Universal Sportsbiz Pvt Ltd (USPL) has raised $7.5 million in its Series B round of funding from its existing investor Accel Partners. The company will deploy the funds raised through the just-concluded Series-B funding to expand the distribution network for Wrogn and Imara across the country and also scaling up the branding efforts for the company’s offerings. It plans to expand network presence from 30 stores to over 75 stores for Imara and from 38 stores to 70 stores for Wrogn. USPL also plans to introduce Imara Fusion – contemporary designs for work and casual wear.

19) Ahmedabad based Lendingkart, an online financing company has raised $10 million in Series A round of funding from venture capital funds Saama Capital and Mayfield Fund, Ashvin Chadha (ex-partner Equity Partners Advisors), and Shailesh Mehta (GraniteHill Fund). Founded in 2014 by Harshvardhan Lunia and Mukun Sachan, Lendingkart is dedicated to help entrepreneurs and SMEs with short term working capital loans. Lendingkart aims to invest the capital at increasing the loan disbursement by six times per month, build a team for ecommerce lending & analytics and to expand its operations, improve its credit scoring technology, and hire more employees.

20) Healthcare startup Lybrate has secured about $10.2 million from Tata Group Chairman Emeritus Ratan Tata, Tiger Global Management and Nexus Venture Partners. It plans to utilize the funds to develop products, recruit talent, augment technology and scale operations. The medical platform enables patients to communicate anonymously with doctors via a mobile app or online from anywhere and anytime. It has more than 80,000 doctors across specializations on board and registers at least one lakh daily visits.

21) Zoomcar, a self-drive car rental company, raised an internally led round of $11 million from Sequoia, Empire Angels and NGP. The funding will help the company’s expansion plans. This takes the total funding in the company to date $23.5 million. The Bangalore based company plans to add new vehicles, continue hiring, and expand their technology and product services with the fund. The company separately raised $1 million in venture debt from InnoVen, formerly Silicon Valley Bank India.

22) Bangalore based online jewellery startup, Bluestone, has raised around $16 million in Series C round of funding from a group of investors led by IvyCap Ventures, Accel Partners and Dragoneer Investment Group with participation from Kalaari Capital and Saama Capital. Bluestone plans to invest the infused funds in marketing to help build on to brand name and to expand its team. With the current revenue run rate of 80-100 Cr per annum, Bluestone has grown by 150% year on year.

23) Indian mobile app startup, News in Shorts that publishes news stories in 60 word bite sized portion has raised $20 million from Tiger Global in Series B round of funding. The raised investment will be primarily used for expansion of the team and improving the user experience further. They particularly intent to focus on their Android app development as since maximum number of mobile devices in India are Android. The company also plans to add a new personalized feature to the app, to make the search more relevant according to the user’s interest areas. There will also be a feature where a user can express and share his/her opinions.

24) Delhi based anti e-commerce startup Shopsity has raised an undisclosed amount of seed funding from Sandeep Aggarwal, founder of ShopClues and Droom, and Teruhide Sato, founder of Netprice. Shopsity is an app that displays products available at nearby stores. Shopsity is also in talk to raise another $8 million soon. The company will deploy funds for expansion, hiring bright talents and spruce-up technology capabilities. Led by Danish Ahmed, ex-CEO of Yebhi.com, Shopsity has already listed thousands of stores from Delhi/NCR, allowing customers to see products selling at Woodland, Redtape, W, Mufti, Nike, Levis and other stores.

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