24 Indian Startups Making News This Week (03 October– 09 October)

12/10/2016
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Consumer Internet Industry

1) Mystifly founded by Rajeev Kumar: Bangalore-based travel technology firm Mystifly, raised $5 million in a Series A funding round led by RSI I Fund LLC, operated by Japanese firm Recruit Holdings Co. Ltd. The raised fund will be utilized to simplify airfare pricing, revenue management and transform marketplace. They plan to invest more on core technology, sales and marketing to grow our global footprint

2) GOQii founded by Vishal Gondal: Mumbai-based wearable health tech startup, GOQii, raised an undisclosed amount of funding from Ratan Tata. The company’s app can integrate with 35 major fitness bands including Jawbone, Fitbit, Garmin, Moov, Misfit, and Sony.

3) Muhuratmaza founded by Sughosh: Pune-based online puja booking service Muhurtmaza, raised an undisclosed amount of angel funding from a US-based HNI investor. The startup will use the funds towards scaling up its presence and promotional activities.

4) AppsDaily founded by Arun Menon: Mobile app development and distribution company, AppsDaily Solutions Pvt. Ltd., raised $3.75 million from existing investors and founders of the company. Existing investors that participated in the round include Zodius Capital, Kalaari Capital, Qualcomm Ventures, Russian venture capital fund, Ru-Net, and Mumbai Angels. The newly raised funds will be used to scale its growth plans.

5) InnerChef founded by Rajesh Sawhney: Online food ordering platform InnerChef, raised $2.5 million in a funding round led by Japanese fund Mistletoe. Its existing investor M&S Partners also participated in the round. The raised funds will be used to enhance operations in its market in the cities including Delhi, Mumbai, Bengaluru, and Hyderabad. It will also be used to enhance technology on both front and back ends.

6) Nettlinx founded by Dr. Loka Narayana Reddy: Internet service Provider Company Nettlinx, raised $3 million in a funding round led by Netherlands-based EXchange Investors NV and Dubai-based TransGlobal FZC. The funding will be used to enhance its client base in European companies in the industrial space.

7) Azuro founded by Ayush Agrawal, Altaf Ahmad, Sushant Kumar, and Sudhanshu Mishra: Real estate management startup Azuro, secured an undisclosed amount of funding from early-stage investment firm White Unicorn Ventures, Kae Capital, and Mumbai Angels. The startup will deploy the funds to expand its operations across Mumbai, and invest further in building the technology.

8) Sportido founded by Neeraj Aggarwala: Noida-based sporting app for sports and fitness activities, Sportido, raised an undisclosed amount of a seed funding from Sumpoorna Group. The startup will utilize the funds to scale up operations including partnering with service providers, vendors, and customer acquisition.

9) FlexiLoans founded by Manish Lunia: Online lending platform FlexiLoans, raised $15 million from Sanjay Nayar, Vikram Sud, Anil Jaggia and Narayan Seshadri. EpiMoney, a non-banking finance company (NBFC) founded by Nayar, Jaggia, Sud, and Sheshadri, will acquire a stake in FlexiLoans, which will be the product platform. The startup will utilize the funding for expansion and to invest in its technology and marketing platform.

10) ChicsConnect founded by Hurratul Maleka Taj: Global women community startup ChicsConnect, raised an undisclosed amount of funding from Scale Ventures. The startup is part of the India Network Co-Working Space. The raised funds will be utilized to build the community, accelerate hiring and international expansion.

E-Commerce Industry

11) MeraKisan founded by Prashanth Patil: Mahindra Univeg invested an undisclosed amount of seed funding in e-commerce startup MeraKisan. With this move, MeraKisan has been roped in to spearhead its online grocery services. Prashanth has brought his online property under the newly incorporated firm and has picked up 66.83% stake in MeraKisan Pvt. Ltd, through a fresh issue of shares.

12) World Art Community founded by Shobhit Arora: An online platform for art and craft goods World Art Community raised $200K in a seed round of funding led by Viraj Tyagi, and others. The raised funding will be used to automate its online platform and expand to new cities across the country and overseas.

13) Giftxoxo founded by Sumit Khandelwal, Abhishek Kumar, and Manoj Aggarwal: Leisure hospitality provider Mahindra Holidays acquired 12% stake in Bangalore-based Nreach Online Services Pvt. Ltd, which runs two brands, namely, Giftxoxo and Frogo. The transaction details remain undisclosed. The move aims to expand Mahindra Holiday’s offerings and increase their reach to over 2 Lakh Club Mahindra members.

14) BharatBazaar founded by Saurabh Jain: Mumbai-based White Shadow Technology Pvt. Ltd, that operates online B2B marketplace Bharat Bazaar, raised an undisclosed amount of seed funding from a clutch of prominent investors including BeeNext, a Singapore-based early-stage technology fund, TV Mohandas Pai (Chairman, Manipal Global Education Services and Aarin Capital), Kunal Shah and Sandeep Tandon (FreeCharge co-founders). The funding will be used to increase team size and presence across multiple Indian cities.

15) Indian Gifts Portal founded by Manan Sharma: Online gifting platform Indian Gifts Portal (IGP), raised $2 million in private equity round of funding from Naveen Arya, promoter, Karamchand Appliances and Tarun Joshi, Director, PE firm, 3i. The funding will be used to develop machine learning technology and to scale up senior management.

16) Moglix founded by Rahul Garg: A Global marketplace for business and industrial supplies, Moglix, raised $4.2 million in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus. The funds will be utilized to expand operational footprint across major industrial hubs, increase the SME customer base by 5X to 100K+ and large manufacturing buyers to 1000+ in the next 18 months.

17) GoZefo founded by Arjit Gupta: Bangalore-based e-commerce portal GoZefo, for second-hand and factory seconds goods, raised $1.05 million in private equity round of funding led by Helion Venture Partners. Singapore-based early-stage technology venture fund Beenext also participated in the funding round.

Technology Industry

18) Uniphore founded by Umesh Sachdev:Chennai-based speech recognition startup Uniphore, raised $2 million in a bridge round of funding. The investment was led by IDG Ventures. Existing investors Indian Angel Network (IAN) and YourNest Angel Fund and other investors also participated in this round.

19) UE LifeSciences founded by Mihir Shah: Mobile-based health technology developer, UE LifeSciences, raised $1.2 million in a private equity round of funding led by Kiran Mazumdar-Shaw, Chairman and MD, Biocon. Existing investor Unitus Seed Fund also participated in the round. The funding will be utilized to increase its operations in India and expand development in the mobile-based health devices segment.

20) Neurosynaptic founded by Sameer Sawarkar: A telehealth technology startup, Neurosynaptic Communications, raised an undisclosed amount in Series A round of funding from Indian Angel Network (IAN), healthcare-focussed venture fund Healthquad, and Axilor Ventures. Post-investment, members of Healthquad and IAN will join the board of Neurosynaptic. The funding will be utilized for international certifications and to expand business in Africa and Southeast Asia and also be deprived in scaling its operations in India.

21) Ray IoT founded by Ranjana Nair: A baby monitoring solutions provider Ray IoT, raised $100K from HAX, a China-based accelerator focused on hardware startups. As a part of the deal, Ray IoT has relocated to Shenzhen for around three months to be a part of HAX’s Accelerator Programme.

22) Realbox founded by Saurabh Moody: Data analytics startup Realbox, secured $300K in Pre-Series A round of funding round led by Hyderabad Angels and other investors The funding will be utilized to develop the company’s idea of a ‘smart store’ that would cater to its growth and management.

23) KOOH Sports founded by Prabhu Srinivasan: Tech-enabled sports startup KOOH Sports, raised $2.2 million led by existing investors including HDFC, Faering Capital, and Elevate Sports. The raised funds will be deployed to expand into the international markets, product development, and marketing. It will also be used to expand its team.

24) SIBIA Analytics founded by Angshuman Bhattacharya: Kolkata-based SIBIA Analytics, raised an undisclosed amount of Seed funding from a group of investors in India and USA, including Radhakrishnan Natarajan. It plans to invest the newly raised capital for scaling up its marketing and sales and capture new markets in India and overseas. A part of the fund will also to be deployed on improving the products.

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