Home > Blog > Blog > 16 Indian Startups Making News This Week (26 June- 02 July)

16 Indian Startups Making News This Week (26 June- 02 July)

03/07/2017
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Consumer Internet Industry

1) V Resorts founded by Aditi Balbir: Noida-based V Resorts, an asset-light resort management startup has raised $4 million in its third round of funding led by Seedfund and RB International. The company plans to utilize the funding raised to invest in consumer and operator interfaces. There are also plans to double its inventory by the end of this year.

E-commerce Industry

2) Flipkart founded by Binny Bansal, and Sachin Bansal: South African Internet and media conglomerate Naspers has invested an additional $71 million in Flipkart. This investment takes its holdings in the company to 16.5%. Naspers had first invested in Flipkart in 2012 during its Series D round and then in its $1 billion Series G round raised in July 2014.

3) Spares Hub founded by Tapas Gupta and Arijit Chakraborty: Pune-based Iradium Automobiles Private Limited, which owns SparesHub.com, secured an undisclosed amount in Pre-Series A round of funding led by Hyderabad Angels and Singapore-based M&S Partners. The company will use the funds to expand its operations, improve technology infrastructure and enroll more participants in its marketplace.

Technology Industry

4) Hug Innovations founded by Raj Neravati: Hyderabad-based HUG Innovations secured $5 million in Series A funding round during a live instant funding event organized by TiE Hyderabad – The Guardian Angel. The round was led by Mohit Srivastav (NRI Startup India), Kishore Ganji (Angel Investor), Venkat Vallabhaneni (Parampara Capital), and Rajeev Menon (Anthill). The newly raised fund will be used to develop four different application areas including fitness, virtual reality, industrial automation, and drones.

5) Formcept founded by Suresh Srinivasan and Anuj Kumar: Data analytics startup, FORMCEPT Technologies and Solutions Pvt. Ltd secured an undisclosed amount of Series A funding from VC fund GVFL (Gujarat Venture Finance Ltd). The startup will use the newly raised funds to accelerate global growth.

6) Quantta Analytics founded by Ritesh Bawri: Data analytics startup Quantta Analytics has raised an undisclosed amount of funding in its Pre-Series A round of funding from undisclosed entrepreneurs and investors from India and Silicon Valley. The company will deploy the funding in enhancing its tech stack, strengthening the core technology team, and expanding its presence across various cities in India. Also, the startup is in the process of setting up Quantta Labs in Silicon Valley.

7) ZineOne founded by Debjani Deb, Manish Malhotra, and Arnab Mukherjee: Hyderabad-based data analytics startup Zino secured $2.5 million funding led by Hyderabad Angels. New York Seed Angels and a few HNI’s also participated in this funding round. The startup funding will be deployed to strengthen its offering in the fields of streaming analytics and machine-learning models.

8) Baadshah founded by Madhav Gupta, Rajat Mukesh Gulati, Rahul Khetrapal and Balakrishna Panduranga Nayak: OceanKing Software Solutions LLP, the Mumbai-based company that owns and operates online gaming startup Baadshah Gaming secured an undisclosed amount of funding from Casino Pride against a 30% stake in the company. As part of the deal, the Indian startup will launch its ‘Baadshah Gaming Live’ property at Casino Pride.

9) Tagos Design founded by GBS Bindra, Sushant Panda, and Tripat Preet Singh: Bengaluru-based in-video discovery platform Tagos Design Innovations Pvt. Ltd secured $5 million Series A round of funding with participation from a leading venture capital fund and two large global corporations. The name of the investors are undisclosed. Zee Entertainment is an investor in the Indian startup.

Fintech Industry

10) Stashfin founded by Tushar Aggarwal: Delhi-based fintech startup Stashfin secured $5 million Pre-Series A funding from Snow Leopard Ventures and Singapore-based Alto Partners. Snow Leopard Ventures is the VC arm of the Kirloskar Group. Other investors in the startup include Vibhav Dhawan and Praveen Malhotra, managing partners at executive search firm Positive Moves, Avendus Capital founder Ranu Vora, commodities trading firm Trafigura’s chief executive Raoul Bajaj, and senior executives from KKR.

11) ZingHR founded by Prasad Rajappan: Bhavin Turakhia-backed fintech startup Zeta invested an undisclosed amount in ZingHR, a Chennai-based cloud services provider. With this move, India startup ZingHR will now offer Zeta’s digital employee benefits solutions such as meal vouchers, paperless claims for medical, LTA, fuel, mobile and so on. This deal will promote reinforce equity infusion along with existing investors Triton.

12) Rubique founded by Manavjeet Singh and Sandeep Nambiar: Mumbai-based fintech startup Rubique raised $3 million in a bridge round of funding from existing investor Kalaari Capital and Udayan Goyal, Managing Partner at Apis Partners. Earlier, Rubique also raised about $3 million in funding from Kalaari Capital, YourNest Angel Fund, Globvestor & Dexter Angel Circle, and Globevestor.

Sports Industry

13) Time of Sports founded by Yashraj Singh: Delhi-based Sports Company specializing in sports consultancy service secured an undisclosed amount of funding led by Sandeep Arya Chairman and Managing Director of Amtrak Technologies Pvt Ltd, Presto Infosolutions Pvt Ltd, and Sanvei Overseas Pvt Ltd. The Indian startup will invest the raised funds in expanding the existing Sports Consultancy Leg of the company and to develop a sports mobile app to reach 100 million school kids and their parents. Also, a part of the funding will be deployed to launch the World’s Largest STEM Based Technology Challenge – F1 in Schools™ in India.

Health and Fitness Industry

14) Fitraq founded by Siddharth Rampal, and Rouzbeh Pasha: Delhi-based fitness centre discovery platform Fitraq secured an undisclosed amount of funding in a bridge round from Aparup Sengupta, operating partner at Singapore-based investment firm Capital Square Partners, and Devendra Reddy, a sales and marketing veteran who has previously worked at EXL, WNS Global Services, and HCL. The company will utilize the funds for product development and to penetrate the market.

15) Fitpass founded by Akshay Verma and Arushi Verma: Delhi-based healthtech startup Fitpass raised $1 million from venture fund Shooting Star, backed by Olympic gold medalist and Indian ace shooter, Abhinav Bindra. The startup funding will be utilized to expand the network of gyms and fitness studios on the platform to 10 cities in the next six months.

Food Industry

16) Authenticook founded by Ameya Deshpande: Mumbai-based food startup Authenticook raised $231K from Booking.com. The Indian startup targets to extend its presence to 35-40 cities from current nine cities by the end of 2018. Also, the company plans to break even by 2019.

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