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10 Indian Startups Making News This Week (26 December – 31 December)

02/01/2017
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Consumer Industry

1) Dekkho Founded by Vinay Pillai: Video streaming platform, Dekkho, has raised $1.2 million angel funding from seven angel investors. The startup’s long-term vision is to create a video streaming culture through adaptive transcoding and subsidized data tariffs with multiple telecom service providers over the next five years.

2) BookEventZ Founded by Shriti Chhajed and Harsh Baid: Online event-booking platform BookEventZ, raised an undisclosed amount in pre-series A funding from Lead Angels, Mumbai Angels and LetsVenture. The fresh capital will be used to bolster the technology backend and an aggressive marketing campaign for the portal.

3) JustBooks Founded by Sundar Rajan: Sustainability consulting and VC firm CoCreate Ventures, that helps companies to pivot, has invested an undisclosed amount in an omnichannel book renting platform, JustBooks. JustBooks plans to use the raised funds towards revamping its digital presence, developing its technology for better customer management and loyalty programmes, and bringing more human resources to manage the brand and introduce new categories in books.

4) InstantPay Founded by Shailendra Agarwal: Delhi-based digital payments and financial services company InstantPay has raised Pre-Series A funding from Singapore-based investors RB Investments and Kaleden Holdings. According to a company statement, the amount is about $3million-$5 million. The startup will utilize the funding to further enhance its technology platform, broaden its portfolio of consumer service offerings and aggressively expand its market presence in neighbourhood stores across India.

E-Commerce Industry

5) The Postbox Founded by Nikhil Joseph: Chennai-based The Postbox, secured an undisclosed amount of funding from The Chennai Angels and others. Ritesh Mehta (head policies, Facebook) and Aruna Ganesh Ram (theatre personality from Bengaluru) also participated in the round. It plans to utilize the money to expand their product line, marketing & team.

6) Shopx (10i Commerce) Founded by Amit Sharma: Bengaluru-based ecommerce startup 10i Commerce Services shopx raised $5 million in private equity funding from Infosys co-founder Nandan Nilekani. With this fresh investment, the former chairman of the UIDAI has so far invested about $10 million in 10i Commerce in several tranches. The startup is also launching an open payments network next week that aims at helping customers transact digitally across any platform.

Technology Industry

7) Pandorum Technologies Founded by Dr. Tuhin Bhowmick: Flipkart’s founders, Sachin Bansal and Binny Bansal have infused an undisclosed amount in Pandorum Technologies that has found a way to 3D-print experimental-stage human liver tissues in a laboratory. Prior to this investment, Pandorum has been dependent on grants from the government funding agency Biotechnology Industry Research Assistance Council, which makes for a longer process than securing equity funding.

Healthcare Industry

8) Healthify Me Founded by Sachin Shenoy and Tushar Vashisht: Health and fitness app HealthifyMe has secured $1 million funding led by Neelesh Bhatnagar, a Dubai-based investor from NB Ventures. The company plans to use the current round to hire top leadership and invest in product and tech innovation.

9) LetsMD Founded by Prakhar Gupta: Delhi-based health-tech startup LetsMD raised an undisclosed amount of angel funding from Calcutta Angels Network (CAN). Anupam Mittal, founder and chief executive of People Group and Currae Healthtech Fund also participated in the round. The startup, operated by Medbay India Pvt. Ltd, will deploy the funds to develop its technology, build the team and create marketing campaigns.

Logistics Industry

10) Shadowfax Founded by Abhishek Bansal and Vaibhav Khandelwal: On-demand logistics company, Shadowfax secured $10 million as part of its Series B fund-rasing round from existing investor Eight Roads Ventures, the proprietary investment arm of Fidelity International.

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