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28 Indian Startup that Raised Funding This Week (14 September 2015 – 20 September 2015)

21/09/2015
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1) Hyderabad based cloud based prototyping and usability testing platform, CanvasFlip, has raised $1.2 million in seed funding from Silicon Valley based venture capital firm Bessemer Venture Partners (BVP). CanvasFlip will use the fund to enhance product capabilities, enable growth practices, as well as towards exploring the international market.

2) Delhi based online procurement platform for quick-service restaurants AdUrCup has received an undisclosed amount in seed funding from Dineout founders Ankit Mehrotra, Sahil Jain, Vivek Kapoor and Nikhil Bakshi. The company will use the funds to expand its operations in Mumbai, Bangalore and Ahmedabad and to create an out-of-home advertising network aimed at reaching more than 25,000 customers per day across Delhi-NCR.

3) Delhi based hyperlocal technology startup ShadowFax, has raised $8.5 million in a Series A round of funding from Eight Roads Ventures. ShadowFax had previously raised angel funding from Kunal Bahl, Rohit Bansal, and Zishaan Hayath earlier this year. The funding will be used by ShadowFax to rapidly scale-up and expand across several cities.

4) Image search engine SnapShopr, has raised an undisclosed amount in seed funding from Flipkart Ex-CTO Amod Malviya. The funds will be used for hiring and advancing its research and development efforts.

5) UE LifeSciences, a health technology developer, has raised $3 million (Rs 20 crore) in Series A round of funding led by Aarin Capital, a venture capital firm co-founded by Manipal Group’s Ranjan Pai and former Infosys director TV Mohandas Pai. The funding will be use to expand trials of its newly developed hand held breast health examination device called ‘iBreastExam’ in India and to build distribution networks through public and private primary care providers across India.

6) Cab service provider Ola Cabs, has raised $225 million in a fresh round of funding. The new funding is led by existing investor Falcon Edge Capital with participation from New York-based hedge fund and its existing investors Tiger Global Management LLC and Softbank Corp. and six other investor

7) Mumbai based Online insurance company Coverfox, has raised an undisclosed amount in funding from Narayan Murthy‘s private investment firm Catamaran Ventures. Founded in 2013 by IIT-Bombay alumni Devendra Rane and Varun Dua, Coverfox has raised $14 million so far from Accel Partners and SAIF partners.The funds will be used for technological advancement and overall expansion.

8) Bangalore based MoEngage mobile marketing automation platform that tracks users behaviour of mobile app users, has raised $4.25 million in Series A round of funding. The funding was led by Helion Venture Partners with additional funding from Exfinity Ventures and prominent angel investors, including Kunal Bahl, Rohit Bansal, and Raghunandan. With the new funding, MoEngage will be launching their platform globally and continuing to build out its leading mobile marketing automation platform.

9) Bangalore based start-up Mubble, which helps users track and control their telecom spends on a prepaid SIM card by tracking balances, deductions, and data usage, has received an undisclosed amount in seed funding from Nandan Nilekani. The funding will be used to scale up the technology team.

10) Mobile tech and data science firm, InVenture, which also provides micro-loans straight to a user’s wallet in African countries, has raised $10 million in a Series A round of funding from venture capital firm Data Collective and participation from India Internet Fund (IIF). The company will use the funds to expand to other territories in sub-Saharan Africa nations and Asia.

11) Tea cafe chain Tea Trails, has raised $ 1 million in seed funding from a group of high net worth individuals (HNIs) including Anil Matai, Vikram Tandon and Shyam Sundar R. The funding will be use towards boosting its growth and expanding across new cities.

12) Room on Call, a branded budget accommodation marketplace, has raised $300K in seed funding from the U.S. based Senior Executive Yahoo, Payal Syal. The funding will be use towards hiring new talents and increasing the Room on Call reach and its facilities.

13) Bangalore based FYNE, Online bath fixtures and fittings startup, has raised an undisclosed amount in Pre Series A round led by Sandeep Dama of Lotus Partners along with a clutch of other investors. The capital will be use to expand the current product catalogue in the bathroom segment and into new categories and also sign up new brands.

14) Tea retail chain Chai Point, a Mountain Trail Foods Pvt Ltd owned brand ,has raised $10 million from Eight Roads Ventures, with participation from Saama Capital and DSG Consumer Partners. The funding will be used to expand its footprint to new 7 cities as well as to grow the delivery component of business – Chai on Call and Chai at Work.

15) Gurgaon based wedding planner portal Wedmegood.com, has raised $406K in seed funding round led by Hemant Kanakia and Alok Mittal of Indian Angel Network (IAN). The funding will be used to scale up technology and sales team and extend its vendor base. It will also focus on the upcoming mobile app and pilot alternative revenue sources.

16) XSTOK, a B2B platform to transact surplus textile goods, has raised $450K in seed funding from a group of angel investors and early stage investment firm Oliphans Capital. These funds will be utilized to expand its reach to a larger audience and to get new suppliers on board for the categories which it plans to launch over the next two months.

17) Bangalore based B2B ecommerce startup Unilog, has raised undisclosed amount of private equity funding from Kalaari Capital. The funding will use to accelerate the company’s product development efforts and expansion into global markets.

18) Mumbai based online designer marketplace Paintcollar, has raised its bridge round of funding from a bunch of high networth individuals (HNIs) through investment platform Applyifi. The startup is an online platform for artists to share their artwork in form of products like t-shirts, mugs, phone cases and earning while offering variety of products. The startup will utilize the money raised to onboard 10,000 artists onto the platform, expand the product range and strengthen its technology backend.

19) Gurgaon based online fashion retailer, YepMe, has raised $75 million in Series D round led by Malaysian state fund Khazanah Nasional Berhad, states Reuters. Existing investor Helion also participated in this round of funding. YepMe will use the funds towards brand building, and launch of an ethnic India line ahead of the festive season (Diwali), according to the source close to the development.

20) Gurgaon based food-tech startup Buéno, which delivers gourmet food, announced that it has raised $600K in its pre-series A funding round from an undisclosed angel investor. The funding will be used in talent acquisition, technology up-gradation, data-analytics, operations, footprint enhancement and marketing, physical operations, customer relationship and supply chain management.

21) Gurgaon based Plabro, a platform for real estate brokerage firms, property agents and dealers, has raised $350K in first round of funding led by Sachin Bansal & Binny Bansal, Sol Primero, Outbox Ventures and angel investor Sangram Singh. The funds will be used to create stronger networking ecosystem and widening its footprint across country.

22) Online health and wellness startup, CureJoy, has raised $1.15 million in Pre Series A round of funding led by Accel Partners, Subrata Mitra, Larry Braitman, and Venk Krishna. The startup will use the fund to expand its team, and its geographies.

23) Internet of things (IoT) and machine to machine (M2M) technologies startup, Briston Technomach Pvt Ltd, has raised around $150K in seed funding from an undisclosed angel investor. Founded in 2014 by Arpeet Gupta and Avnish Kumar, the firm is going to introduce a product called Fuelark, which provides analytics tools for monitoring fuel and energy usage in the power backup industry. The company will use the capital to expand its operations to eight major cities and hire talent.

24) Gurgaon based diagnostic labs startup LabStreet, has raised $150K in angel funding from multiple investors including Click Labs. The funds will be utilized for enhancing the collection and logistics capabilities as well as expanding the footprint across the country.

25) Bangalore-based hyperlocal mobile solution for all subscription based daily needs, Daily Ninja, has raised an undisclosed amount of seed funding in a round led by Aprameya Radhakrishna, co-founder of TaxiForSure, Naman Sarawagi of FindYogi and others. The company plans to use the funds to expand its operations to serve much larger areas of Bangalore and setup warehouses across the city.

26) Open source code collaboration platform, GitLab, has raised $4 million in Series A round of funding from Khosla Ventures. The funding will be used to accelerate growth and scale its global operations including development, marketing, and sales and to provide more features, support, and expand to more companies and organizations.

27) Comuto SA, which owns ride-sharing service provider BlaBlaCar, has raised $200 million in a Series D round of funding from Insight Venture Partner, Lead Edge Capital and Vostok New Ventures. The company is present in 19 countries including France, Germany, Hungary, Italy, Russia, Spain, Turkey and the UK. India is its only presence among the Asian countries.

28) Portea Medical, an Indian home healthcare platform has received $37.5 million in Series B round of funding led by Accel Partners. International Finance Corporation (IFC), a member of the World Bank Group, Qualcomm Ventures and Ventureast also Participated in the round. Portea will use the capital towards expansion in India, massive hiring, sprucing up technology, and expand in Malaysia where it already provides services in four cities.

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