17 Indian Startups Making News This Week (17 July- 23 July)

24/07/2017
dsim funding

Consumer Internet Industry

1) Ambee founded by Jaimon Jose and Rohit Kumar: Hyderabad-based ambulance aggregator startup Ambee secured a seed round of funding to expand its business. The investment was from Uber Technologies Inc, Ahmedabad-based early-stage investor Amaya Capital LLP, a domestic family office and some angel investors.

2) AirCTO founded by Atif Haider: AirCTO, a human and artificial intelligence powered recruitment platform secured an undisclosed amount in angel investment from former Nokia director Francesco Cara. The startup plans to invest the seed capital in building an AI chatbot to help human resource departments automate the initial screening process. In addition, the company is also planning to spend considerably on expanding its sales and marketing teams.

3) FableStreet founded by Ayushi Gudwani: Delhi-based FableStreet, a premium work-wear brand, secured an angel round of funding from angel investors — Kanwaljit Singh (MD, Fireside Ventures), Harmeet Bajaj (founding member, NIFT), Pameela P (Senior Director, Unilever), Fusiontech Ventures and others. The company aims to use the money to scale up operations and its team. It will also open international shipping and pilot a concept store model, FS Studio.

4) Savarochi: IBahn Illumination Pvt. Ltd. secured its first institutional round of funding from undisclosed investors. The company markets its home lighting products under the Savarochi brand.

E-commerce Industry

5) Rentomojo founded by Ajay Nain and Geetansh Bamania: Bengaluru-based consumer leasing startup RentoMojo raised $10 million in Series B round of funding led by Bain Capital Ventures and Renaud Laplanche. Existing investors Accel Partners and IDG Ventures also participated in the round. With this move, Salil Deshpande (MD at Bain Capital Ventures) and Renaud Laplanche will join the RentoMojo board. The company will utilize the freshly raised capital to further strengthen the product and finish building a stellar leadership team. It will also use the capital to expand into new categories and geographies.

6) Brick2Wall founded by Nishant Garg: A Delhi-based online marketplace for sourcing construction material and hiring construction related services secured $200K in its angel round of funding from a series of angel investors. Investors include Lazada founder Sundeep Sahni; Mayank Mittal, VP at Germany-based Bank, Wazoku founder Simon Hill and a few other high-net worth individuals. The startup will utilize the funds for technology upgradations increasing customer reach and developing new business lines in Delhi NCR.

Technology Industry

7) Increff founded by Romil Jain, Rajul Jain, Nirmal Jain, and Anshuman Agarwal: Bengaluru-based supply chain startup Increff raised $2 million in a funding round from Sequoia Capital. Warehouse management company Grey Orange Robotics and other angel investors also participated in the round. Other investors that joined the round were CareerNet co-founders Rishi Das and Anshuman Das; PremjiInvest’s Rajesh Ramaiah; and Jasbir Juneja, Director of research and advisory firm RedSeer Consulting. The funds will be utilized to expand Increff’s customer base and product portfolio. A portion of the funding will also go into hiring new people for the technology team.

8) MobiQuest founded by Vineet Narang: Noida-based startup MobiQuest Mobile Technologies secured an undisclosed amount of funding from digital wallet Paytm. The investment was focused on MobiQuest’s loyalty platform m’loyal. Through m’loyal, online sellers on Paytm will be able to design customized, multichannel, loyalty programs which will allow them to retain and engage their consumer base, thereby generating more business.

Gaming Industry

9) Hypernova Interactive founded by Mayur Bhimjiyani and Huzaifa Arab: Bengaluru-based online gaming startup Hypernova Interactive raised an undisclosed amount of seed funding from Kae Capital. The funding happens to be Kae Capital’s first deal in the gaming category. With the raised funds, the Hypernova Interactive team goals to build an Esports ecosystem for mobile. The online gaming startup also plans to scale their current games in markets like China and the US.

E-learning Industry

10) PlayAblo founded by Dheeraj Sharma: Bengaluru-based gamified learning solutions provider PlayAblo raised $600K from ABI-Showatech (India) Ltd. The ed-tech startup will deploy the capital to upgrade its technology platform and optimize product development initiatives, besides investing in infrastructure to increase sales.

Fintech Industry

11) Monsoon CrediTech founded by Ashwini Anand: Monsoon CreditTech, a fintech startup raised an undisclosed amount of funding from marquee investors. The investors include independent angel investors Sunil Kalra and Aditya Singh, former senior Microsoft executive Rishi Srivastava, and Rajan Anandan.

12) Trupay founded by Rahul Gochhwal, Vivek Lohcheb, and Narender Kumar: Gurugram-based fintech startup, Trupay has launched a mobile payment app, based on Unified Payment Interface (UPI). It claims to be India’s first private sector company in India to do so. RBI, in unification with the National Payments Corporation of India (NPCI), recently launched the UPI payments platform in India.

13) Vayana Network founded by Ramaswamy Iyer and H Srikrishnan: Pune-based financing network for businesses and trade partners, trade Fintech Company Vayana Network, raised about $4 million Series A round of funding from venture capital firms IDG Ventures India and Jungle Ventures. The startup will use the freshly raised funds to further reinforce its B2B trade financing network both in India and abroad.

Food & Beverage Industry

14) RainCan founded by Mahendra Singh and Abhijeet Kumar: Pune-based subscription services startup for delivery of fresh and fragile items RainCan raised $272K in Pre-Series A round of funding from Prabodh Agarwal, group CFO, IIFL Holdings Ltd., and existing investor Dr. Aniruddha Malpani. The Indian startup plans to deploy the funds to expand its delivery operation centers and set up a logistics platform to facilitate deliveries at a low cost.

15) MonkeyBox founded by Sanjay Rao: MonkeyBox, which provides nutritious food to school children in Bengaluru, raised an undisclosed amount in its Pre-Series A round of funding from Blume Ventures, NB Ventures, Nspira, and some angel investors. The Indian startup will deploy the raised funds for expansion, marketing campaigns, and to hire more employees.

Insurance Industry

16) Ideal Insurance founded by Rahul Mohan: Kolkata-headquartered Ideal Insurance Brokers raised an undisclosed amount from Xelpmoc at a valuation of $15.54 million. The funding is directed to promote its online platform 121policy. The company expects to sell 10K policies a month over the next 3 years. The platform plans to add a motor, life, and other products in the coming months.

Home Services Industry

17) Flytta founded by Gokulavasan Murali and Rahul Kanuganti: Hyderabad-based online relocation platform Flytta raised an undisclosed amount in a seed funding round from Corvus Ventures. The startup will use the funds to form alliances with more corporates and create targeted relocation offerings.

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