15 Indian Startups Making News This Week (29 August – 04 September)

06/09/2016
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Consumer Internet Industry

1) LoanTap founded by Satyam Kumar and Vikas Kumar: This Mumbai based fin-tech startup has raised $3 million in Series A funding round. The investment was led by HNI’s Dr. Abhishek Pandey and Jaysukh Sapra. The funds raised in this round will be utilized by the startup to expand its operations and to create end-user specific products and deliver them directly to retail customers.

2) Runnr founded by Mukunda NS, Mohit Kumar, Vatsal singhal, Gnanesh Chillukuri, Aaravind Reddy, Arpit Dave: This Bangalore based hyperlocal logistics services provider has raised $7 million from Nexus Venture Partners and Blume Ventures. Its existing investor, Sequoia Capital did not participate in the round.

3) Zolo founded by Naveen Valsakumar and Bhargava Adepalley: This Noida based on-demand talent marketplace has raised an undisclosed amount of seed funding from Switzerland based Software company Hitouch AG. The startup will use the funding to expand to other cities and to add more categories and services to its portfolio.

4) Notion Press founded by Naveen Valasakumar: This Chennai based self-publishing startup has raised $1 million in Pre-Series A funding from undisclosed HNIs. The deal will help the platform consolidate its market leadership, strengthen its management team and expand its services in the market.

5) Livspace founded by Anuj Srivastava, Shagufta Anurag, and Ramakant Sharma: This Bangalore based online home decor portal has raised $15 million in its third funding round led by existing investors Bessemer Venture Partners. Singapore-based Jungle Ventures and Helion Ventures also participated in this round. The company will use the funding for expansion in new cities. It will also be used to strengthen the catalogue depth, launch new modular products, and further optimize the backend technology.

6) DayBox founded by Ankush Goyal, Raman Kumar, Ashish Bibyan and Prabhat Kumar: This Delhi based agri-tech startup has raised $104K from Ashutosh Lawania (co-founder, Myntra); Rajul Jain (SVP Supply Chain, Myntra and co-founder, Yebhi.com); Badal Malick (ex-VP Omnichannel, SnapDeal); Rishi Gupta (CEO, Fino Paytech Ltd); and six other angel investors. The startup will use the current funds on fine-tuning its tech product and hiring more people.

7) Canvera founded by Dr. Dhiraj Kacker and Peeyush Rai: This Bangalore based online photography startup has raised $3 million in a new funding round. Info Edge (India) Ltd led the round, pouring in $2.3 million funds while the remaining $0.5 million was added by existing and undisclosed investors. With this investment, Info Edge now owns 57% stake in the company, an 8% rise from its existing 47% with a total (disclosed) investment of $12.68 million to date, including the current round.

8) Inclov founded by Kalyani Khona and Shankar Srinivasan: This Gurgaon based matchmaking app for the differently abled people has raised an undisclosed amount of funding from Sarbvir Singh, former MD of Capital 18, Raghav Bahl of digital news venture Quintillion Media Pvt. Ltd. The funds will be used to redesign its Android app, launch an iOS version and for R&D on accessible technology.

Technology Industry

9) IAugmentor founded by Arindam Sen, Ankit Ruia, Pratik Marwah, Sameer Sikka and Sarvagya Mishra: This Gurgaon based ed-tech company has raised $149K in seed funding from Rajasthan Angel Investor Network (RAIN) and other undisclosed investors. The funding will be used to introduce new learning mediums such as games, animations, cartoons, and videos.

10) Prime Focus Technologies founded by Ramki Sankaranarayanan and Ganesh Sankaran: This Bangalore based technology company has raised $20 million in the first round of funding from Ambit Pragma, a growth capital private equity fund. The funding will be used to intensify the development of SaaS products and for research into international markets such as North America, Europe, and the Middle East.

11) MadStreetDen founded by Anand Chandrasekaran and Ashwani Asokan: This Chennai based artificial intelligence startup has raised an undisclosed amount in Series A funding round from Sequoia India along with existing investors, Exfinity Ventures & growX Ventures. Others who participated in this round are folks from Google and investors like Shruti Gandhi, Managing Partner, Array Ventures.

12) Lucideus founded by Saket Modi: This Delhi based cyber security firm has raised an undisclosed amount of funding from Amit Choudhary, Director of Motilal Oswal Private Equity Advisors Pvt. Ltd. The startup will use the proceeds to expand its team and business operations. In the coming year, the company plans to add 30-40 more clients across India, the US and Western Europe.

13) Mihup founded by Tapan Barman, Biplab Chakraborty and Sandipan Mandal: This Kolkata based artificial intelligence based personal mobile assistant app has secured $6.7 million from Accel Partners. The VC firm will take 20% stake in the startup. The funds will be used to develop the software and hardware of Mihup’s speech recognition system and man-machine interface. The final product will be rolled out after Diwali this year.

E-Commerce Industry

14) Renowala founded by Joshua Kumar: This Hyderabad based on-demand marketplace for home improvement services has raised undisclosed amount in seed funding from FMCG veteran Pradeep Dhobale. The company is also looking at raising one more round of seed funding for its expansion plan.

15) Flyrobe founded by Shreya Mishra: This Mumbai based online fashion rental platform has raised $5.3 million in a Series A funding round. The round was led by IDG Ventures India with participation from Sequoia Capital India Advisors and GREE Ventures. With this round of funding, the founders aim to scale Flyrobe and grow 4-5 times in the next six months.

 

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