Home > Blog > Blog > 19 Indian Startups Making News This Week (12 June- 18 June)

19 Indian Startups Making News This Week (12 June- 18 June)

19/06/2017
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Consumer Internet Industry

1) Ola founded by Bhavish Aggarwal: Cab-hailing firm Ola, operated by ANI Technologies Pvt. Ltd, secured $50 million from New York-based hedge fund Tekne Capital Management LLC Earlier, in May 2017, Ola raised $104 million from RNT Capital and US-based hedge fund Falcon Edge Capital.

2) LendingKart founded by Harshvardhan Lunia and Mukul Sachan: Ahmedabad-based SME lending startup Lendingkart Finance Limited raised $7.7 million debt funding from YES Bank. The Indian startup will deploy the raised funds to further expand its reach to SMEs operating in Tier 3 and below cities facing a lack of formal credit facilities.

3) VanityCask founded by Tarun Joshi: VanityCask secured an undisclosed amount in seed funding from Singapore-based angel and venture capital firm RB Investments. The startup funding will be deployed to cover its fixed costs and logistics and advertising spend.

4) EazyDiner founded by Vir Sanghvi: Cricketer Yuvraj Singh financed an undisclosed amount in Indian startup EazyDiner an online restaurant reservation platform via his VC fund YouWeCan. With this move, Yuvraj will also be the brand ambassador of the app.

5) PortDesk founded by Pushpit Pallav: Noida-headquartered integrated maritime solutions company PortDesk raised $2 million in a Seed funding round led by Alphard Maritime Group, a Singapore-based maritime services company. The company will utilize the funds to strengthen its tech capabilities and to expand its global footprint.

6) MoneyTap founded by Bala Parthasarathy, Anuj Kacker, and Kunal Varma: Consumer lending startup MoneyTap secured $12.3 million funding from Sequoia India. Existing investors New Enterprise Associates and Prime Venture Partners also participated in the startup funding round. The startup will deploy the recently raised funds to drive the expansion of its app-based consumer credit line in India. The funds will help strengthen leadership position by improving credit accessibility for other segments of customers.

E-commerce Industry

7) Shopmatic founded by en Ti Lim, Anurag Avula, and Kris Chen: Indian startup Shopmatic raised $5.7 million in Series A round of funding from tech-focussed VC firm ACP Pte Ltd. The round also saw participation from Singapore-based fund Spring Seeds Capital Pte Ltd. As a part of the startup funding round, Sameer Narula, ACP Managing Partner joined Shopmatic’s board.

8) Goodbox founded by Abey Zachariah, Mayank Bidawatka, Anand Kelaginamani, Nithin Chandra, Mohit Maheshwari, Charan Shetty, and Mahesh Herle: Bengaluru-based m-commerce app Goodbox raised $1 million in Series A round of funding led by Nexus Venture Partners and Mekin Maheshwari, founder of Udhyam.org and former Chief People Officer at e-commerce firm Flipkart.

Technology Industry

9) Boxx.ai founded by Ajay Kashyap, Prakhar Raj, and Shitiz Bansal: Bengaluru-based artificial intelligence-backed analytics startup Boxx.ai raised $500K funding led by Unicorn India Ventures. Angel investors Venky Krishnakumar (former COO and CFO, Citibank APAC); Suresh Shankar (Founder and CEO, CrayonData); and Vivek Bhargava (CEO, DAN Performance Group) also participated in this round. The startup funding will be used to upgrade its technology and algorithms platforms and to expand the product portfolio.

10) HyperTrack founded by Kashyap Deorah and Tapan Pandita: US and India-based HyperTrack secured an undisclosed amount in Series A round of funding from Nexus Venture Partners and Founders Fund. With the funding, Naren Gupta of Nexus Venture Partners has joined the HyperTrack Board which already has Ashish Gupta, co-founder of Helion Venture Partners.

11) Goodera founded by Abhishek Humbad and Richa Bajpai: Bengaluru-based Goodera (formerly NextGen), a CSR and sustainability management platform raised $5.5 million Series A round of funding led by Nexus Venture Partners and Omidyar Network. Former Head of Global Operations at Airbnb, Varsha Rao, also participated in the startup funding round. With this move, Naren Gupta, co-founder of Nexus Venture Partners will join the Goodera Board.

Healthcare Industry

12) PeeSafe.in founded by Vikas Bagaria and Srijana Bagaria: Redcliffe Hygiene Pvt. Ltd, which manufactures toilet seat sanitizer spray PeeSafe, secured $1 million in pre-Series A funding from a clutch of investors including Mumbai-based Venture Catalysts, Detroit- and Mumbai-based Alfa Capital, Green Shots Capital and Real Time Ventures. The funding will be utilized to expand the product line of the parent company Redcliffe Hygiene and to expand to global markets starting with the US, Europe, Middle East, and Southeast Asia.

13) Healthintel founded by Sameer Bhalla, Jay Karkar, and Aseem Sharma: Delhi-based healthtech startup Healthintel Services raised an undisclosed amount of growth capital from BLIP Initiatives. The Indian startup is merging its presence in Uttar Pradesh and Delhi NCR. It also has strategies to expand to Haryana, Punjab, and Gujarat.

Hotel Industry

14) Vista Rooms founded by Ankita Sheth, Pranav Maheshwari and Amit Damani: Mumbai-based budget hotel aggregator Vista Rooms secured $776K in Pre-Series A round of funding led by some prominent names in the Indian startup ecosystem such as seed-stage investor Artha India Ventures, Singularity Holdings, online startup funding platform LetsVenture, Google India head Rajan Anandan, Freshworks CEO Girish Mathrubootham and Singapore Angel Network. The funds will be utilized to run the fully-managed property business of the venture along with ramping up the technology team and marketing.

Insurance Industry

15) CoverFox founded by Devendra Rane, and Varun Dua: Mumbai-based online insurance brokerage platform Coverfox secured $15 million in Series C round from US insurer Transamerica, along with the participation of existing investors. Coverfox’s existing investors include SAIF Partners, Accel India and Catamaran Ventures­, the family office of Infosys co-founder, NR Narayana Murthy.

16) Digit founded by Vijay Kumar, V Philip, Jasleen Kaur, Sandeep Komaravelly, and Sriram Shankar: Bengaluru-based tech-driven insurance startup Digit raised an undisclosed amount of funding from Canadian billionaire Prem Watsa’s Fairfax Holdings, which has partnered with former Allianz executive Kamesh Goyal for the venture.

Fintech Industry

17) Fincash founded by Gaurav Perti: Mumbai-based fintech startup Fincash secured an undisclosed amount in startup funding from a number of industry stalwarts and HNI investors. Fincash.com focuses on the money market space in India for retail investors. Till date, Fincash has raised $100K in angel funding deployed towards team expansion and technology. The angel investors include names like Mohammed Khan (founder of Rediffusion), Sameer Narayan (ex- Fund Manager BNP Paribas), and couple of other industry stalwarts from financial services.

Food Industry

18) MrNeeds founded by Hitashi Garg, Ravi Wadhwa, Ravi Verma, and Yogesh Garg: Noida-based daily needs micro delivery startup MrNeeds secured $500K in Pre-Series A funding from a clutch of investors. The startup funding will be utilized to expand its operations to other parts of Delhi-NCR region, including Dwarka, Indirapuram, and Gurugram.

Education Industry

19) Edgefx founded by Kamini Gupta: Hyderabad-based Edtech startup Edgefx secured an undisclosed amount in a bridge funding round led by international angel network Cross Border Angels & Experts, Rajasthan Angel Innovators Network, and The Chennai Angels. The company funding will be used for international expansion, upgrading the company’s product portfolio, and making crucial hires in marketing.

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