Home > Blog > Blog > 16 Indian Startups Making News This Week (19 June- 25 June)

16 Indian Startups Making News This Week (19 June- 25 June)

28/06/2017
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Consumer Internet Industry

1) Insider.in founded by Shreyas Srinivasan: Vijay Shekhar Sharma-led mobile wallet firm Paytm is in talks to invest up to $30 million for a majority stake in Mumbai-based curated events platform Insider.in.

2) OneAssist founded by Subrat Pani, and Gagan Maini: Mumbai-based startup OneAssist secured $18 million in Series C round of funding from Sequoia Capital, Lightspeed Ventures, and New York-based insurance provider Assurant. New investor Moonstone Investments also participated in the round. The company will deploy the newly raised funds for enhancing technology, service and focus on customer experience.

3) Kissht founded by Krishnan Vishwanathan: Fintech startup Kissht has raised $2 million from early-stage technology-focused fund Endiya Partners and Ventureast. Kissht app provides collateral-free loans to users.

4) Explore Life traveling founded by Vikram Kumar: Bangalore- based a Local homes booking platform, Explore Life traveling secured $500K in a seed funding led by Mekin Maheshwari, Bharat Vijay, Krish Seshadri, and Amar Arsikere.

5) VoxWeb founded by Yash Mishra: Mumbai-based social networking platform VoxWeb Pvt. Ltd secured $1 million in its third round of external funding from a clutch of undisclosed individual investors. The fresh capital will be used to strengthen its backend technology infrastructure, besides adding innovative and engaging front-end features. It will also use a part of the money to scale up marketing efforts and increase its user base.

E-commerce Industry

6) ForeverShop founded by Martin Tan, Shathyan Raja and Li Chong: Bangalore- and Beijing-based Team Leaf Software Pvt. Ltd—which runs ForeverShop, a mobile platform connecting individual and small-time sellers with customers secured $300K seed funding from Chinese early stage investor 91maker.com. The company aims to boost customer-to-customer (C2C) e-commerce using the social network, SaaS tools, Big Data and artificial intelligence.

7) Fynd founded by Harsh Shah, Sreeraman MG, 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, optimize its operations, and further enhance customer offerings as well as strategies.

8) MaxWholesale founded by Samarth Agrawal and Rohit Narang: MaxWholesale, a mobile-based B2B grocery supply chain, has raised $1 million in Pre-Series A round of funding from Indian Angel Network (IAN) and Maple Capital Advisors. The startup will deploy the fresh funds to fuel growth and tech innovation.

Technology Industry

9) Unbxd founded by Pavan Sondur, Prashant Kumar:  Unbxd, a cloud-based product discovery platform for e-commerce, secured $12.5 million in a Series C round of funding led by Eight Roads Ventures, the proprietary investment arm of Fidelity International Ltd. The company will use the funds to strengthen its product offering and accelerate its go-to-market play by expanding its sales and marketing team.

10) DarwinBox founded by Jayant Paleti, Chaitanya Peddi, Rohit Chennamaneni: Darwinbox, a human resources software-as-a-service startup, has raised $4 million in a series-A round of funding from Lightspeed India Partners, the India-dedicated fund of California-based Lightspeed Venture Partners. The company plans to leverage the new infusion of capital for product innovation and market expansion.

11) Fabulyst founded by Raj Parakh: Fabulyst Pvt. Ltd, which operates an artificial intelligence-based platform emulating a personal stylist, secured $216K in seed funding from iB Hubs, a launchpad-cum-accelerator for startups. The startup will utilize the funds for technology ramp-up, global customer acquisition, and product development.

12) mSwipe founded by Manish Patel: Mswipe Technologies, a Mumbai-based independent merchant acquirer and network provider, raised $31 million in Series D funding. UC-RNT fund, a joint venture between Ratan Tata’s RNT Associates and University of California along with existing investors Matrix Partners India, Falcon Edge Capital, and DSG Consumer Partners participated in the round. The company will use the funds to develop a network of merchants accepting digital payments in the country.

13) Julia Computing founded by Viral Shah, Deepak Vinchhi, Keno Fischer, Stefan Karpinski, Alan Edelman, and Jeff Bezanson: Bengaluru-based Julia Computing, the creator of open source programming language Julia, has raised $4.6 Mn in another round of funding. The startup’s funding was led by US-based General Catalyst and Founder Collective.

Healthcare Industry

14) Grow Fit founded by Krishnan Ganesh and Meena Ganesh: Bengaluru-based healthtech startup Grow Fit secured $4.5 million in Series A round of funding led by Manipal Education and Medical Group (MEMG), the PE arm of Manipal Group. With the freshly raised funds, the startup plans to integrate different sources of data from wearable technology and medical reports.

Food Industry

15) Wegan Foods founded by Kinjal Darukhanawala: Mumbai-based foodtech startup Wegan Foods secured an undisclosed amount of funding from a member of the royal family of Sharjah and Ras Al Khaimah – Her Highness Sheikha Arwa Al Qassimi. The funding will be deployed for scaling the commercial kitchen, inventory, and brand building.

Finance Industry

16) LoanTap founded by Vikas Kumar and Satyam Kumar: LoanTap Financial Technologies Pvt. Ltd, an online platform that offers loans and overdraft products to salaried professionals, raised $4 million in equity and debt from Kae Capital, India Quotient, IFMR, and MAS Financial Services Ltd. The startup plans to deepen its presence in the salaried segment and eventually lend to small and medium-sized businesses with an average loan size of INR 2 lakh by expanding to the top 10 cities of the country.

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