Home > Blog > Blog > 22 Indian Startups Making News This Week (05 June- 11 June)

22 Indian Startups Making News This Week (05 June- 11 June)

12/06/2017
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Consumer Internet Industry

1)FtCash founded by Vaibhav Lodha, Deepak Kothari, and Sanjeev Chandak: Mumbai-based mobile payments platform for micro merchants, FTCash secured an undisclosed amount in startup funding in its Pre-Series A round of funding from 500 Startups. Existing investors IvyCap Ventures also participated in the round. The startup will use the raised funds for product development, acquiring new talent and merchant acquisition.

2) BHIVE founded by Shesh Paplikar, Prashant Reddy, Monnappa Bayavanda, Shesh Paplikar, Ravindra M.K., Ravindra M.K and Sridhar Venkataraman: Bengaluru-based coworking space BHIVE Workspace raised $1.2 million in a fresh round of funding led by Blume Ventures, along with investors including actor-director Ramesh Aravind, Meera Reddy (MD of SKCL), and other high-net-worth individuals. The recently raised funds will be utilized to fuel its pan-India and international expansion.

3) Hungry Foal founded by Rishi Kaushik and Vivek Kaushik: Gurugram-based Hungry Foal, a for-profit social venture secured an undisclosed amount of debt from SBI under the Standup India Scheme. With this funding, the company will increase its presence to 1000 stores in next 3 months. To supply to the growing demand, the company will launch its product SKUs targeting the middle and upper middle class.

4) Stockal founded by Sitashwa Srivastava, Vinay Bharathwaj and Rajan K Natarajan: Bengaluru-based investment advisory provider Stockal raised $350K in the second round of angel funding from Mohan Alexander, Vikrant Varshney of SucSEED Venture Partners and New York-based investment banker and portfolio manager Amit Sinha. The raised funds will be used to upgrade the product, penetrate the market further and expand its network of experts.

5) eSahai founded by Hari Bharadwaj: Hyderabad-based ambulance aggregator and medical taxi provider eSahai.in raised $250K in a seed funding. The investment came from Dr. Ramesh Ayyala, professor of ophthalmology and director of glaucoma residency and fellowship programmes at Tulane University in the US, and Satya Muthyala, senior director of enterprise apps, sales, and supply chain at US video game publisher Activision. The Indian startup will deploy the raised funds to increase its medical taxi fleet and add more ambulances onto its platform in addition to spending on marketing and technology.

E-commerce Industry

6) RentOnGo founded by Nikhil Chhabra and Vikash  Jalan: A Bangalore-based online marketplace for renting bikes, electronics and appliances ‘RentOnGo’ secured an undisclosed amount in angel funding from Snapdeal’s chief product officer Anand Chandrasekaran, GSF India founder Rajesh Sawhney, TrendIn head Shiva Pare and Interweave Consulting Partner Kalpana Tatarvati. The company plans to deploy the capital to enter new cities and focus in expanding the bike rentals category by garnering more supply and providing value-added services to customers.

7) Spinny founded by Niraj Singh: Gurugram-based used car marketplace Spinny raised $1 million angel round of funding from Blume Ventures, Indian Angel Network, and FreeCharge co-founders Kunal Shah and Sandeep Tandon. The startup will deploy the funds to reinforce its technology platform and for the expansion of its hubs.

Technology Industry

8) Tagos Design founded by GBS Bindra, Sushant Panda, and Tripat Preet Singh: Bengaluru-based video discovery portal Tagos design raised $2.5 million led by Zee Entertainment Enterprises Ltd, against 12.5% stake. With this deal Zee expects that Tagos platform will help scale up revenues of its OTT business.

9) Riversand Technologies founded by Upen Varanasi and Anil Kini: Master data management company Riversand Technologies secured $35 million in Series A round of funding from Crestline Investors. The company will deploy the newly raised funding to accelerate global expansion and, for further investment, in its disruptive MDM 2.0 (Master Data Management) platform. And, the funding will be used for strengthening its core verticals.

Travel Industry

10) Goomo founded by Varun Gupta: Mumbai-based Goomo Holdings raised $50 million funding from PE firm Emerging India. With this move, Emerging India will pick up a majority stake in the Indian startup. Goomo was formed by the merger of Orbit Corporate and Leisure Tours in November 2015. It was launched in March 2017.

11) Guiddoo founded by Nidhi Varma and  Vineet Budki: Mumbai-based In-destination app brand Guiddoo secured $300K in Pre-Series A round of funding from existing investors Pawan Borle and Nirmal Singh. New Investors including Manish Prasad, Vineet Varma, Nick Haulkoury, and Abhai S. Rao also participated in the round. Guiddoo will use the funds to support product and technology development through their newly opened Technology & Data Unit based in Pune as well as focus on building pan-India distribution for its tours & activities & holidays products.

Health & Fitness Industry

12) MaxMyWealth founded by Vinay Chauhan: London and India-based fintech platform MaxMyWealth secured an undisclosed amount of startup funding from the US-based Global Advisors (Jersey) Ltd and Horseferry. The raised funds will be utilized to build the team, enhance its offering and grow its customer base.

13) Healthbuds founded by Anupam Shukla and Somnath Dasgupta: Kolkata-based healthtech startup Healthbuds secured an undisclosed startup funding from angel investors Arun Patodia and Bharat Kedia. The Indian startup will utilize the funds to upgrade technology, make the platform more robust, and implement digital marketing strategies.

14) WayForward founded by Ritvik Singh, Navya Singh and Stan Miroshnikov: Mental healthcare solutions provider wayForward secured $1 million in seed funding from a group of individual investors. The startup will utilize the funds to build its technology and the US sales team.

15) Growfitter founded by Sanmati Pande: Mumbai-based health and fitness discovery platform Growfitter raised $600K in a Pre-Series A round of funding led by San Francisco-based VC SQue Capital. With this round, Karan Chellani, Partner SQue Capital will join the Board of the company and Mukesh Makhija, the Managing Partner of Grace Capital Venture, will join Growfitter as an Advisor. The company will use the raised funds towards enhancing its technology infrastructure.

16) Stratfit founded by Daniel McKee:  Indian startup Bodhtree Consulting Limited (BCL) invested $232K in Stratfit Technologies Pvt. Ltd – a New York-based fitness technology platform via FundPitch funding platform. The investment is done through changeable debentures at a valuation of $12.4 million. With the raised funds, Stratfit plans to expand its presence in the US and other international markets.

17) Multiplier Solutions founded by Vikram Kumar: Hyderabad-based healthtech startup Multiplier Solutions raised $1.5 million led by Norwest Venture Partners. The startup works with hospitals diagnostics chains, clinics. It offers a product platform to integrate artificial intelligence and machine learning for improved diagnostics as well as calculating clinical outcomes.

18) ABI Health founded by Balaji Sundarajan and Ajit Veerappan:  Bengaluru-based healthtech startup ABI Health raised $1.5 million led by Norwest Venture Partners.  It is an image management cloud software provider and works on a SaaS-based revenue model.

Finance Industry

19) GyanDhan founded by Jainesh Sinha and Ankit Mehra: Chennai’s Sundaram Finance Group (SFG) made an equity investment in Indian startup GyanDhan, a Delhi-based overseas education loan payment platform. With the raised funds, GyanDhan targets to invest in building data science capabilities in the education loans market.

20) ZipLoan founded by Shalabh Singhal and Kshitij Puri: Online lending platform ZipLoan, which is operated by Delhi-based Blue Jay Finlease Ltd., secured $650K in its Pre-Series A funding round from WaterBridge Ventures. The startup will deploy these funds to further develop its credit scoring capabilities, enhance automation in their sourcing/ monitoring processes, expand to new cities and strengthen their team.

21) Loanmeet founded by Sunil Kumar: Mumbai-based digital lending platform Loanmeet secured an undisclosed amount of funding from Chinese financiers and entrepreneurs Cao Yibin and Huang Wei, and MadhuSudan, CEO of KrazyBee plans to use the funds to an aggressive expansion of its customer base.

22) Market Pulse founded by Hiral Jain and Amit dhakad: Mumbai-based fintech startup Market Pulse raises an undisclosed amount of seed funding led by Lead Angels Network and Chatur Ideas platform. The company plans to utilize the funding to expand its product analysis to other financial markets and build a strong technical team.

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