Home > Blog > Blog > 18 Indian Startups Making News This Week (15 May- 21 May)

18 Indian Startups Making News This Week (15 May- 21 May)

23/05/2017
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Consumer Internet Industry

1) Genie founded by Rakesh Mani, Sreekesh Krishnan, Parth Shah, and Bharath Lalgudi Natarajan: Chennai-based hyperlocal delivery platform Genie raised $250K from a group of undisclosed HNI investors. The startup had earlier shut down its services due to lack of funds. The newly raised funds will be used in reviving the platform operations.

2) PaySense founded by Prashanth Ranganathan: Mumbai-based fintech startup PaySense secured $5.3 million Series A funding from Jungle Ventures, along with Naspers Group and Nexus Venture Partners. The company claims to have distributed about $4.66 million in partnership with NBFCs.

3) EzCred founded by Amiya Pathak and Sachin Maheshwari: Bengaluru-based consumer lending startup EzCred secured more than $1 million from a group of investors. The investors include Dheeraj Pandey, CEO of Nutanix; Rajesh Yohannan, former MD and CEO of Oanda Asia Pacific; and Akash Garg Director of Engineering at Uber. Other investors in the round included Citibank’s Sanjay Nambiar; Christian Oestlien, Director of Product Management at YouTube; Ratikant Sahu, digital delivery head at ANZ; and Neill Occhiogrosso, Partner at US-based Costanoa Ventures. The startup will deploy the newly raised funding for technology development. And to develop new-age credit and fraud models using alternate data sources.

4) FreeCharge founded by Sandeep Tandon and Kunal Shah: Snapdeal’s digital subsidiary FreeCharge raised $3.38 million from the parent company Jasper Infotech. Freecharge is currently in merger talks with Paytm and MobiKwik, while Snapdeal is awaiting final nod from investors for merging with Flipkart.

5) Live History India founded by Mini Menon and Akshay Chavan: Ganesh Natarajan, a former chief executive officer of Zensar Technologies and chairman of Nasscom Foundation, invested an undisclosed amount in Bengaluru-based digital content platform Live History India, through his 5F World startup platform. Cyrus Guzder, former promoter of AFL, also participated in this round. The LHI platform will showcase historical facts through videos and content contributed by historians across the country and will make revenue through advertising as well as partnerships with content providers.

6) TAC Security Solutions founded by Trishneet Arora: Cyber security startup TAC Security Solutions raised an undisclosed amount of funding from William H May, former Vice President of IBM. With this, William has also joined TAC’s board.

E-commerce Industry

7) Fynd founded by Harsh Shah, Sreeraman MG, and Farooq Adam: Mumbai-based e-commerce fashion platform Fynd raised $500K in a follow-on Series A funding round from Silicon Valley-based Rocketship. With the newly raised funds, the startup plans to strengthen its tech backbone, improve its operations, and further enhance customer offerings as well as strategies.

8) The Good Life Company founded by Bhuman Dani and Shariq Ashraf: Mumbai-based online luxury tea brand The Good Life Company secured $1 million in Seed funding from husband-wife duo Ayesha Takia Azmi and Abu Farhan Azmi. The startup plans to deploy the raised funds to strengthen its operations in Mumbai and to expand services in Tier I cities like Delhi, Bengaluru, and Kolkata.

9) PumpKart founded by K.S Bhatia: Chandigarh-based online water pump seller PumpKart closed a Seed funding round from Dr. Ritesh Malik, founder of Innov8 and Project Guerrilla. The raised funds will be utilized to launch PumpKart service stores and a mobile app by the end of next month.

10) Paytm founded by Vijay Shekhar Sharma: Paytm raised $1.4 billion funding led by SoftBank Group, the Japanese Internet and telecom major. The investment was done in Paytm’s parent company One97 Communications. With this move, SoftBank has joined Alibaba Group as a major shareholder and will take a seat on the Paytm board.

11) Yepme founded by Sandeep Sharma, Vivek Gaur and Anand Jadhav: Fashion e-commerce firm Yepme, operated by VAS Data Services Pvt. Ltd secured $700K in bridge funding. This bridge round will help the company tide over the current liquidity crunch.

Technology Industry

12) Zapty founded by Arvind Agarwal and Sanjay Shah: Workflow automation startup Zapty raised $500K funding from Ideaspring Capital. The startup will use the raised funds towards improving its product offering to create industry-grade solutions.

13) Vernacular.ai founded by Sourabh Gupta, Akshay Deshraj and Manoj Sarda: Kalaari Capital invested an undisclosed amount in startup VernacularAI. ai. The investment was done as a part of Kalaari Capital’s accelerator program Kstart. The Bengaluru-based startup launched its first B2C product earlier this year called Aisha, an AI-based personal assistant in Hindi.

14) Niki.ai founded by Nitin Babel, Shishir Modi, Keshav Prawasi, and Sachin Jaiswal:  AI-based chatbot Niki.ai secured an undisclosed amount of funding from the global leader in business management software SAP. The investment was done via SAP’s newly launched $35 million artificial intelligence-focused fund SAP.iO in March 2017.

15) Telr founded by Elias Ghanem and Sirish Kumar: Singapore-headquartered payment gateway Telr secured $3 million Series B investment from Innovations East. The startup will deploy the recently raised funding to build out and enhance its core product proposition and roll out new payment methods. The funding will also be used to scale up operations in focus markets, especially India and other developing markets.

Food & Beverage Industry

16) HealthSutra founded by Sai Krishna Popuri: HealthSutra, a Hyderabad-based health food maker secured an undisclosed amount in pre-Series A funding from social venture fund Ankur Capital and Hyderabad Angels. The startup plans to deploy the funds to set up a higher capacity processing facility for its core product millet flakes.

Healthcare Industry

17) Elize founded by Tanvi Johri: Ahmedabad-based women’s sanitary pad maker startup Elize raised an undisclosed amount of Seed funding from a group of angel investors. This includes Sunil Kalra, Arun Venkatachalam from Murugappa Group, Startup Buddy Ventures and senior members from Arthur D Little Adnan Merhaba, Viditha Kanakamedala and Rohit Sethi. The startup will deploy the raised funds to strengthen product line, create a strong brand presence and grow the active customer base.

18) Dial4242 founded by Jeetu Lalwani: Mumbai-based ambulance booking mobile app Dial4242 raised $154K in a Seed funding round from an undisclosed angel investor. The raised funds will be utilized for the purpose of R&D, market research, product development, and operations.

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