Home > Blog > Blog > 22 Indian Startups Making News This Week (27 February – 05 March)

22 Indian Startups Making News This Week (27 February – 05 March)

06/03/2017
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Consumer Internet Industry

1) Ola founded by Bhavish Aggarwal and Ankit Bhati: Online cab aggregator Ola secured $350 million from existing and new investors. The company has received funds from existing and new investors and the latest round of funding has valued the company at $3.5 billion.

2) Belong founded by Sudheendra Chilappagari, Saiteja Veera, Vijay Sharma, and Rishabh Kaul: Bengaluru-based recruitment startup Belong raised $10 million in Series B funding from Sequoia Capital India, with participation from existing investor Matrix Partners India. The newly raised fund will be used to accelerate product development, expand sales and support operations, and hire new talent across engineering, data science, enterprise sales, and customer success.

3) SeenIt founded by Ankita Sancheti, Saksham Karwal and Vedanta Kumar: SeenIt Online Private Limited, which owns and operates the popular fashion question and answer app, SeenIt, has received an undisclosed amount of Pre-Series A funding from Calcutta Angels Network (CAN) and Augment Ventures.

4) LetsEndorse founded by Monika Shukla and Varun Kashyap: Bengaluru-based online network for social causes LetsEndorse secured an undisclosed amount led by Chandigarh Angels Network, Tata Trusts-backed Social Alpha and other unnamed angel investors. The company will utilize the funds to enhance its technology footprint, expand to more geographies, and build a cohesive community of doers and enablers.

5) Emojifi founded by Manan Maheshwari: Emojifi, an app that provides live emoji, sticker, and GIF suggestions based on the typed words across chat platforms, secured an angel round with two lead angel investors from Hyderabad. The capital will be infused for marketing and to build the product further.

6) Paytm founded by Vijay Shekhar Sharma and Vishay Shekhar Sharma: Paytm E-Commerce Pvt Ltd, an Indian mobile payments and commerce platform, raised $200 million in funding. The round was led by Alibaba Group Holding, which acquired a 36.31% stake for $177 million, with participation from SAIF Partners, which acquired a 4.66% for $23 million. The company plans to use the funds to expand its online business.

7) MyTaxiIndia founded by Mihir, Mohit Rajpal and Satyakam Rahul: Gurgaon-based MyTaxiIndia (MTI), an outstation taxi and cab service provider in India raised planned investment from UAE-based investment and holding company Zain Group of Companies. MTI is focusing on servicing both – one-way taxi and package-based outstation taxi service – segments in the past few years.

8) Finly founded by Veekshith Rai and Vivek AG: ItzCash, a leading player in the digital payments space, made an equity investment in the Bengaluru-based expense management fintech startup Finly. The deal has been brought to fruition through part equity investment and part business partnership.

9) RedCarpet founded by Sandeep Srinivasa and Kartik Venkataraman: Delhi-based RedCarpet a student microlending startup raised $2.5 million funding in a round from Lightspeed Venture Partners. The startup will utilize the newly raised funds to improve risk evaluation technology, introduce new student-lending features, and team expansion.

E-commerce Industry

10) Johari Shop founded by Vivek Sinha and Ankit Banthia: Jewellery ecommerce marketplace Johari Shop raised $94K from three angel investors, including a diamond exporter and a high net-worth individual, to power its omni-channel efforts. The company will spend the money to work on its omni-channel strategy that would start with the launch of its first brick-and-mortar store in Bengaluru’s VR mall by the end of February 2017.

11) Paalak founded by Swapnil Tripathi and Vishal Salgotra: Delhi-based agritech startup Paalak secured an undisclosed amount in seed funding led by Vishwadeep Bajaj, Harsh Kundra, Nandkumar Rane, and Anupam Tyagi. The funding will be used to develop a new consumer web-platform and Android app, add more collection centres in villages, and hire critical manpower in technology, supply chain, and operations departments.

12) Couponhaat founded by Vipin Kumar Yadav: Delhi-based e-commerce company Couponhaat received Pre-Series A funding from a European Investor, Axel Wawrina. The amount of investment remains undisclosed. The funding will help Couponhaat in its expansion plans and team expansion.

Technology Industry

13) Karomi Technology founded by Vilva Natarajan: Chennai-based tech startup, Karomi Technology raised $494K for its flagship product ManageArtworks from early-stage venture fund – Ideaspring Capital. This funding marked Ideaspring’s first seed investment. The company will use the freshly infused funds to aggressively expand into the US market and product development.

14) Tydy founded by Kiran Menon, and Nikhil Gurjer: An employee onboarding and engagement platform Tydy raised $275K in angel funding led by a group of individuals, including existing investor Bhupen Shah, former co-founder of Sling Media. Others who also invested in the firm are Jayesh Parekh, Managing Partner at Jungle Ventures and co-founder of Sony Entertainment in India and Sanjay Sathe, founder of outplacement firm RiseSmart. The startup will utilize the capital for marketing and sales.

15) OhoShop founded by Abhishek Agarwal: Ahmedabad-based OhoShop, a SaaS-based M-commerce enabler raised $1 million funding led by Brand Capital. The startup will deploy the newly raised funding for marketing.

Education Industry

16) NeoStencil founded by Love Beejal and Kush Beejal: Edtech startup NeoStencil secured $1 million in a round from Brand Capital and California-based Paragon Trust. The round also saw participation from 91springboard, M&S Partners founder Hirokazu Mashita, and Jabong co-founder Praveen Sinha. The startup claims to have over 500K students and offers more than 150 courses.

17) Nactus founded by Rohit Dusad: Jaipur-based edtech startup Nactus secured an undisclosed amount from a group of angel investors. The round saw investment led by Sandeep Aggarwal, Managing Director, Nomura; Gautam Chhaochharia, Head of India, Research, UBS; and R Balachandar, joint general manager, ICICI Bank, among others. The startup will deploy the funds to strengthen its product platform and business development, and expand its services to more cities.

Real Estate Industry

18) StayAbode founded by Viral Chhajer and Varun Bhalla: StayAbode, a startup that is building co-living spaces, secured an undisclosed amount of angel funding from a consortium of investors from Ishan Manaktala and Angie Mahtaney. Gaurav Bhalotia (Ex-VP Engineering, Flipkart), Vishal Lulla (CEO, Vishal Exports) and a group of Investors from LetsVenture also participated in the round.

Logistics Industry

19) BlackBuck founded by Chanakya Hridaya, Rajesh Yabaji, and Ramasubramaniam B: Tiger Global-backed logistics startup BlackBuck has received an investment commitment of $30 million in its Series C funding round of funding from a group of new and existing investors, including Sands Capital and World Bank’s arm International Finance Corporation (IFC).

Healthcare Industry

20) Celes Care founded by Raghu Bathina and Dr. Rajah Koppala: Hyderabad-based Celes Care a digital healthcare startup secured $1.5 million in Pre-Series A round of funding from Ventureast, Endiya Partners, Eight Roads Ventures, and F-Prime Capital Partners. Dr. Varaprasad Reddy and other prominent investors also participated in this round. The startup will use the newly raised funds for R&D around telehealth apps and devices, and for outreach to more B2C and B2B customers.

21) IGenetics founded by Arunima Patel, Madhusudan Sharma and Siddharth Patodia: Mumbai-based healthtech startup iGenetic Diagnostics raised $19.5 million in its latest round of funding, from CDC Group Plc, the financial institution run by the UK government, and the Manipal Education and Medical Group (MEMG).

Financial Industry

22) CreditMantri founded by Sudarshan R, Gowri Mukherjee and Ranjit Punja: Digital lending startup CreditMantri raised $7.6 million in its Series B round of funding from Quona Capital. The investment by Quona has been facilitated via its Accion Frontier Inclusion Fund. Elevar Equity, IDG Partners, Accion Venture Lab, and Newid Capital also participated in the round. The raised capital will be utilized to grow its user base, strengthen product proposition and build the team.

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