21 Indian Startups Making News This Week (18 April – 24 April)

25/04/2016
image from dsim

Consumer Internet Industry

1) Tapchief founded by Shashank Murali: Bengaluru-based Tapchief, a Web platform for users seeking expert advice, won $150K in funding from Paytm CEO Vijay Shekhar Sharma after winning the Mind Batteries, Chase Your Dreams – Ideathon’ Contest. Founded in 2016, the platform lets you find an expert in a category of your choosing, and get a response within 72 hours.

2) OyoFit founded by Shivank Agarwal and Ruchir Garg: Bengaluru-based fitness club aggregator OyoFit has raised an undisclosed amount of angel funding from RN Agarwal, Managing Director, WeP Peripherals. Founded in September 2015, OyoFit offers users to access over 150 partnered fitness clubs with a single monthly membership.

3) Coinsecure founded by Mohit Kalra and Benson Samuel: Indian Bitcoin trading platform Coinsecure announced a fund raise of $1.2 million as part of its ongoing ‘Series A’ investment round. Founded in July 2014, Coinsecure launched its Bitcoin exchange on January 1, 2015. Coinsecure offers an algorithmic trading Bitcoin exchange, a Blockchain explorer, a mock trading platform for users to try trading without real money, and a number of integrations with global partners.

4) Rapido founded by Rishikesh S R and Aravind Sanka: Bike taxi operator Rapido has raised an undisclosed sum in a pre-series A round of funding led by Pawan Munjal, Chairman, MD and CEO of Hero MotoCorp; AdvantEdge Partners, Astarc Ventures, Tesellate Ventures, Anupam Mittal, Founder and CEO of People group, Harish Bahl, Founder of Smile Group; Ankit Nagori, Ex-CBO of Flipkart, Rajan Anandan, MD Google India and South East Asia, and serial entrepreneur Kunal Khattar. The raised funding will be used for expansion into other cities and building up the team. Founded in 2015, the startup currently has a fleet of over 400 bikes across Bengaluru, Gurgaon, and Delhi, and plans to touch 1,000 over the next two months.

5) CollegeDekho founded by Ruchir Arora: Technology start-up CollegeDekho.com has raised $2 million in pre-series A funding from the London-based Man Capital. CollegeDekho.com deals in higher education and has a database of 22,000 colleges as it connects students to colleges. The funding will be used to build robust technology, ramp up the team, increase marketing activities and on-board more colleges. The investment comes four months after securing $1 million from GirnarSoft, the parent company of CarDekho.com.

6) Fashalot founded by Amit Koshal and Rishi Batra: Gurgaon-based Fashalot, which provides mobile apps on Android and iOS for offline discovery and deals on stores retailing apparel, footwear, and accessories has raised an undisclosed sum in a pre-Series A round of funding led by YourNest Angel Fund and Rajul Garg. Currently operational in Delhi-NCR and Bengaluru, Fashalot app has seen over 60,000 downloads and is registering 30 percent repeat transactions. The funds will be utilized in expanding its operations, product development, acquire talent and accelerating its business growth.

7) Broomberg founded by Samrat Goyal and Ishan Baisoiya: Delhi-based cleaning services provider Broomberg has raised an undisclosed amount in funding in pre-series A round from a group of angel investors. Founded in 2014, the startup provides specialist cleaning services in Delhi, Gurgaon and Noida, and reportedly does around 30 jobs per day.

8) Mishtag founded by Arpit Chhabra: Visual search-driven product discovery platform mishTag has raised an undisclosed amount of seed funding from M&Y Partners, SVG Media, Anthil Ventures, and other angels. Founded in 2014, the Gurgaon-based startup lets users seek product recommendations by uploading a photo and a question, and reportedly has a base of 10,000 users.

9) M.paani founded by Akanksha Hazari: Mumbai-based M.paani, which provides mobile-based loyalty programs for retailers has raised a pre-series A round of funding led by Blume Ventures and other angel investors. The startup plans to expand to Delhi NCR and Bengaluru next, and use the funds for product development and new hires.

10) Jugnoo founded by Samar Singla: Chandigarh-based Jugnoo raised $10 billion in series B round of funding from Paytm and other existing investors. The auto-rickshaw hailing and hyper-local delivery mobile app received $5 million from Paytm and the remaining from existing investor Snow Leopard and a new investor named Rocketship.vc. At present, the auto-rickshaw aggregator and hyper-local delivery service provider operates in 30 cities and 11 villages across the country, and has a network of around 10,000 auto-rickshaw drivers.

11) DriversKart founded by Vinit Srivastava and Saksham Grover: This company has raised an undisclosed amount in Pre-Series A round of funding from ah!Ventures and others. DriversKart provides highly professional, verified drivers and that too at affordable charges. Founded in September 2015, DriversKart provides on-demand chauffeur service. Its drivers are background verified, carefully selected through five step selection process and trained to provide good customer experiences. With these funds, the app aims to reach over 10, 000 rides a day within 12 months. Besides, the raised capital will also be utilized for a threefold purpose of technological enhancements, enhanced driver on-boarding/training & marketing, and team building.

12) Oliveboard founded by Abhishek Patil and V Satish Kumar: Bengaluru-based Ed-Tech startup Oliveboard has raised an undisclosed amount of funding from India Educational Investment Fund (IEIF), an early stage fund by Michael and Susan Dell Foundation. Founded in 2012, the startup offers an adaptive learning and test preparation platform for MBA, banking and government exams.

13) Houssup founded by Hemant Singh: This Jaipur-based interior design and home furnishing portal Houssup has raised an undisclosed amount in seed funding from Mitin Patel, managing director of Prima Automation, and Gaurav Agarwal. The startup will utilize the capital raised to scale its operations and enhance its technology infrastructure. As part of the deal, Patel will be joining the board.

E-Commerce Industry

14) Betaout founded by Ankit Maheshwari: Noida-based Betaout, which provides a SaaS-based B2C marketing automation platform for e-commerce companies, has raised $1.5 million in its pre-Series A round of funding. Beenext, Stanford Angels, Letsventure, Chennai Angels, Hyderabad Angels, Mumbai Angels and Match Group CEO, Sam Yagan, who had participated in Betaout’s seed round through Corazon Capital, also participated in this round. The startup plans to use this round on customer acquisition expansion to other Asian markets, acquire talent and develop its mobile offering, and adds machine learning and conversation-commerce features to its platform.

15) Lenskart founded by Peyush Bansal: Ratan Tata, chairman emeritus of Tata Sons Ltd, has invested an undisclosed amount in Lenskart, as the company looks to raise an additional Rs. 400 crores in its latest round, in order to set up a manufacturing, processing, and assembly facility that can produce 20,000 pairs of eye glasses daily.

16) Smytten founded by Siddhartha Nangia and Swagata Sarangi: A discovery platform for premium lifestyle products, Smytten, has received an undisclosed sum of funding from Rajan Anandan, MD of Google India and South East Asia. The startup will use this round of funding to enhancing user experience and product development, apart from expanding its user and brand base, with a focus on AI and personalization. Smytten provides a curated discovery trial and shopping experience for over 80 domestic and international brands on its platform.

17) Yufta founded by Ritesh Khandelwal, Ravi Khandelwal, and Tarun Sharma:

Jaipur-based Yufta, a fashion retail platform, has raised an undisclosed amount of funding in Pre-Series A from founding members of RAIN (Rajasthan Angel Investor Network), and other angel investors. Founded in 2014, the startup aggregates fashion trends from local stores, and plans to expand its reach to all Indian metro cities in the country in the next six months.

18) Licious founded by Abhay Hanjura and Vivek Gupta: Online meat delivery platform Licious, which operates in Bengaluru, has secured an undisclosed sum of funding from Mayfield India Management, as a part of its Series A round. The startup plans to expand its service to more Indian cities, and expand its offerings, currently limited to chicken, lamb, and seafood.

19) 1mg founded by Prashant Tandon and Sameer Maheshwari: Prescription medicine marketplace 1mg has raised Rs.100 crores in a Series B funding round from Maverick Capital Ventures, and existing investors Sequoia Capital and Omidyar Network. 1mg’s medicine ordering service helps users find and order cheaper generic alternatives, read up on medicines and their side effects. The company has reportedly seen a revenue growth of eight times in the last 12 months.

Auto Industry

20) Advanced Structures India founded by Vaibhav Kumar and Rahul Ramola: GirnarSoft, the parent company of CarDekho, Gaadi, and Zigwheels, has made a strategic investment in the car testing and benchmarking firm Advanced Structures India (ASI). The company’s expertise will be used to provide the technical backend for reviewing cars listed on CarDekho, metrics and scores.

21) Tork Motors founded by Kapil Shelke: Pune-based electric motorcycle maker Tork Motorcycles has raised an undisclosed sum in angel funding from Ola founders Bhavish Agarwal and Ankit Bhati, apart from a group of angels. The startup said that the T6X motorcycle will be the first Indian smart motorcycle, with features like GPS, cloud connectivity, and phone charging.

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