Home > Blog > Blog > 11 Indian Startups Making News This Week (22 May- 28 May)

11 Indian Startups Making News This Week (22 May- 28 May)

29/05/2017
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Consumer Internet Industry

1) WhatsLoan founded by Vidya TG and Timmana Gouda D: Bengaluru-based fintech startup WhatsLoan secured an undisclosed amount of funding from South Indian music recording company, Lahiri Music’s family office. The move on Lahiri Music’s part comes as an attempt to expand business across different industries. The startup plans to use the raised funds towards building its tech platform.

E-commerce Industry

2) Yepme founded by Sandeep Sharma, Vivek Gaur and Anand Jadhav: Fashion retailer, Yepme raised $45 million in a financing round from undisclosed investors. The startup will use the raised funds to further the operations of its UK-based entity, Yepme UK Plc that makes fashion products for international markets, including Europe, Middle East, and the US, along with brand enhancement and the launch of a new fashion range before Diwali.

Logistics Industry

3) Delhivery founded by Mohit Tandon, Sahil Barua, Bhavesh Manglani, Kapil Bharati and Suraj Saharan: Gurugram-based e-commerce logistics startup, Delhivery secured $30 million in funding from Chinese international conglomerate Fosun International. With this financing round, the company is currently valued at $650 million.

Travel Industry

4) Travelspice founded by Ramu Kallepalli: Bengaluru-based travel tech startup Travelspice secured an undisclosed amount of funding from Eagle10 Ventures. The startup currently claims to work with 3 to 5-star hotels in more than 212+ cities across India and 6 cities outside India.

Retail Industry

5) Magicpin founded by Anshoo Sharma and Brij Bhushan: Gurugram-based hyperlocal discovery startup Magicpin secured $6.6 million in Series B round of funding from Lightspeed Venture Partners and Vy Capital. Earlier in February 2016, Lightspeed Venture Partners also invested $3 million in the startup in Series A round of funding.

Real Estate Industry

6) Zipgrid founded by Kunal Gupta and Jaydip Popat: Mumbai and Ahmedabad-based real estate tech firm Zipgrid closed $500 K Pre-Series A round with investment commitment from 1Crowd and JLL India. The startup plans to use the raised funds to upgrade its existing technology and operations. Also, a part of the funding will be used to launch a range of collective commerce solutions for its users.

Media Industry

7) The Print founded by Shekhar Gupta and Barkha Dutt: Delhi-based media venture The Print raised an undisclosed amount of funding from Ratan Tata, Uday Kotak and Nandan Nilekani. Anchor investors – Biocon Ltd’s Kiran Mazumdar Shaw, tech-entrepreneur Rajiv C. Mody and Paytm’s Vijay Shekhar Sharma, will hold close to 20% equity in the venture, while the rest belongs to founder Shekhar Gupta. The startup plans to hire a team of 50 people by July this year along with setting up office space in New Delhi.

Finance Industry

8) Aye Finance founded by Sanjay Sharma and Vikram Jetley: Gurugram-based NBFC Aye Finance secured $8 million from Blue Orchard, a leading global impact investment manager. The funding was raised through NCDs (non-convertible debentures) with a maturity period of five years. The funds will be used to strengthen its funding position and to facilitate the inclusion of a larger number of MSMEs in the realm of mainstream economy.

9) ItzCash founded by Naveen Surya: US-headquartered Ebix Inc invested $123 million in ItzCash at a valuation of $150 million, against 80% stake in the company. With the newly raised funds, ItzCash aims to foray into areas such as credit, insurance, healthcare and investments to accelerate growth momentum going forward.

Food & Beverage Industry

10) Box8 founded by Anshul Gupta: Mumbai-based on-demand food delivery startup Box8 secured $1 million in venture debt funding from Trifecta Capital. With the recent funding, the startup intends to venture in its existing three markets, and improve customer experience. The company is also planning to expand to new geographies.

Education Industry

11) GenNext Students founded by Asad Daud and Ali Kagzi: A hybrid tutoring platform ‘Genext Students’ which connects parents with the best home tutors for their children, secured $580K in its pre-Series A round of funding led by undisclosed investors. The company targets at leveraging the recently raised capital to expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai.

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