Home > Blog > Blog > 13 Indian Startups Making News This Week (7 August-13 August)

13 Indian Startups Making News This Week (7 August-13 August)

16/08/2017
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Consumer Internet Industry

1) MyForexEye founded by Anand Tandon: Noida-based Forex solutions provider MyForexEye raised $220K in Pre-Series A round of funding from a consortium of high net-worth individuals and senior bankers. The funding will sanction MyForexEye to expand its reach to around 15,000 B2B and 500K B2C customers by the end of 2021.

2) Doodhwala founded by Ebrahim Akbari and Aakash Agarwal: Bengaluru-based e-grocery subscription start-up Doodhwala raised an undisclosed amount in Pre-Series A round of funding from Tom Varkey, a partner at Stonehill Capital, USA. The Indian startup is digitizing milk delivery. It claims to be the first in Bengaluru to provide fresh farm milk directly to houses. This startup has expanded operations to Pune while other cities are in its pipeline. The company targets to be operationally profitable by the end of 2017.

3) StayAbode founded by Viral Chhajer, Devashish Dalmiya and Varun Bhalla: Bengaluru-based, a startup that is building co-living spaces, StayAbode, secured an undisclosed amount of funding from Incubate Fund. The startup will utilize the funds to scale the business by supporting technology and team. The startup presently provides over 260 units spread over five properties across Bengaluru.

4) Ola Cabs founded by Bhavish Aggarwal and Ankit Bhati: Ola secured $36 million in a funding round led by New York-based hedge fund Tekne Private Ventures. Ola is planning for expansion in neighboring countries like Sri Lanka and Bangladesh. Also, the company is also looking for expansion in other countries in Asia and North Africa.

E-commerce Industry

5) Flipkart founded by Binny Bansal and Sachin Bansal: Flipkart raising an undisclosed amount in a round from SoftBank Vision Fund at a valuation of $11.6 billion. Flipkart claims this round to be the biggest round raised by an Indian technology startup.

6) Moong Labs founded by Sai Srinivas Kiran G and Shubham Malhotra: Mumbai-headquartered mobile gaming studio Nazara Games allotted an undisclosed amount of funding in Moong Labs, a developer of 3D simulation games. The two companies earlier entered into a partnership to launch 4D simulation mobile cricket games Virat Super Cricket and Epic Cricket. The freshly raised funding will be consumed on improving Moong Labs’ core game engine and developing realistic simulation cricket games that have a global appeal.

Technology Industry

7) Newcastle Technologies founded by Swaminathan Raman: Chennai-based hospital management software development company, Newcastle raised $243K in an angel funding led by undisclosed tech industry veterans based in India and abroad. The company will deploy the funds to expand its footprint to 1,000 hospitals over the next three to five years.

8) Teknophile founded by Saathwik Yadavalli: Hyderabad-based Teknophile, a technology startup promoted by a team of young students secured $25K in an angel funding from a group of NRIs. Their app, titled ProblemBolo and a social empowerment application, will be launched worldwide for different cities in India, the US and Sri Lanka over the next few months.

Healthcare Industry

9) Curatio founded by Nima Kaviani, Lynda Brown, and Alireza Davoodi- Venture capital firm Sequoia Capital is picking 33.36% stake in Curatio Healthcare Pvt Ltd, a Chennai-based healthcare venture. This would be one among a dozen odd deals by the VC firm in the larger healthcare domain but one among a handful in the products or pharma space.

10) Surgeri Technologies founded by Ziv Tamir and Moti Sholev: Digital healthcare startup, Surgeri Technologies Pvt. Ltd is raising an angel round of funding. The startup funding will be from a group of resident and non-resident Indians.

Logistics Industry

11) Truxapp founded by Manmohan Agarwal: Delhi-based logistic service mobile app Truxapp raised $3.1 million in a Pre-Series A round of funding. Presently, the startup has the pan-India presence, with operations in 150 cities across 21 states. An official statement claims that the company also reached its operational break-even point in 2016.

Agriculture Industry

12) EM3 Agri Services founded by Rohtash Mal and Adwitiya Mal: Noida-based EM3 Agri Services raised $10 million in a Series B funding round from Global Innovation Fund (GIF). The investment will be deployed to expand the startup’s geographical reach, build new technologies, and boost ecosystem capacity.

13) Crofarm founded by Varun Khurana: Gurugram-based agritech startup Crofarm raised $783K in Pre-Series A round of funding led by a clutch of investors. The list included US-based Factor[E] Ventures; Rajan Anandan, VP of Google Southeast Asia and India; and Jitendra Gupta, MD of PayU India. The LetsVenture platform will sanction the startup to gain a stronghold in the country’s initial agricultural technology industry.

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