Home > Blog > Blog > 20 Indian Startups Making News This Week (09 October- 22 October)

20 Indian Startups Making News This Week (09 October- 22 October)

23/10/2017
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Consumer Internet Industry

1) PolicyBazaar founded by Yashish Dahiya and Alok Bansal: The online insurance policy aggregator PolicyBazaar raising $77 million equity funding in a round from global asset management firm, Wellington Management. The round also saw participation from IDG Ventures India and PE firm True North. A group of existing backers, including Tiger Global Management, Singapore government-run Temasek and PremjiInvest, also joined in. The funding will get capitalized in technology, customer service, and towards geographical expansion.

2) MyGubby founded by Sunil Rao, Ravi Rao and Umesh Sangurmath: Bengaluru-based home decor and furnishings startup MyGubbi secured $2.5 million Pre-Series A funding in a round from the family office of Firoze Irani. The round also saw participation from existing investors, including Bigbasket co-founder Vipul Parekh, NeoBytes founder Ananda Kallugadde and InfosysBSE President Rajesh K Murthy. The funding will be used on accelerating the startup’s growth and expansion.

3) Gapoon founded by Ankita Asai, Apoorva Mishra and Ankit Bindal: Bengaluru-based home services startup Gapoon raised $250K in a Pre-Series A round of funding from Vida Ventures and other independent and seasoned investors including Snehal Mantri, Anshu Bahadur, Partner at Cognizant and angel investors from their previous round Pankaj Kapoor, Director at one of the leading investment banks and Chandrasekhar BV a veteran in the telecom industry.

4) Lenden Club founded by Bhavin Patel and Dipesh Karki: Mumbai-based peer-to-peer lending platform Lenden Club raised $500K in equity investment from three major investors Venture Catalyst, Anirudh Damani, and an Indian venture capital fund. The startup funding will be used to consume the funds mainly for strengthening its technology platform and expanding its scope of operations.

E-commerce Industry

5) Meesho founded by Sanjeev Barnwal and Vidit Aatrey: Bengaluru based social e-commerce startup Meesho raised $3.1 million in a round of funding from SAIF Partners. Existing investors YCombinator and Venture Highway also participated in the round. The startup plans to deploy the funding to hire for its tech and business operation teams.

6) BigBasket founded by VS Sudhakar, Abhinay Choudhari and Hari Menon: Bengaluru-based online grocer BigBasket raised $839K from its existing investor Trifecta venture debt fund. BigBasket has to date raised about $305.8 million spread across six rounds.

Technology Industry

7) ThirdWatch founded by Shashank Agarwal and Adarsh Jain: New Delhi-based artificial Intelligence startup ThirdWatch raised an undisclosed angel funding from Indian Angel Network and IAN Fund from lead investor Rahul Agarwalla. The round also had participation from Keshav Sanghi, former MD of Goldman Sachs India & founder of VentureWorks India along with Batlivala & Karani Securities.

8) ParallelDots founded by Ankit Narayan Singh: Gurugram-based AI and deep learning solutions provider ParallelDots raised $1.4 million in an additional funding round from Multipoint Capital, a U.S. based investment firm. The freshly raised funding will be deployed to add to its technology team, support its expanding global footprint, and general operational expenses.

9) GridRaster founded by Rishi Ranjan, Dijam Panigrahi and Venkat Ramana Dass: California and Bengaluru-based GridRaster Inc. raised $2 million in Seed funding from Exfinity Ventures. Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group also participated in the funding round. The startup will utilize the funding for product development and marketing.

Automobile Industry

10) LetsService founded by Girish G, Sachin Radder and Sachin Vasanth Shenoy: Bengaluru-based B2B automobile service startup LetsService secured an undisclosed amount of funding in a Pre Series A round from Aequs Group and has marked the group’s first steps to expand into the digital space. The fund will be used towards strengthening its team, expand into multiple cities and enhancing technology stack.

Education Industry

11) UCLID founded by Anurag Shivarathri, Bhargav Krishna and Sahitya Yerramsetty: Hyderabad-based edtech startup UCLID EduLabs Pvt Ltd raised a Seed funding round of $235K from a bunch of US-based investors. The startup is currently running in the alpha mode with services in Hyderabad and will make a global beta launch in April 2018.

Finance Industry

12) IBSFINtech founded by Chandra Mohan Grover and TM Manjunath: Corporate treasury management solutions provider IBSFINtech secured an undisclosed seed funding from Shailesh Haribhakti, Chairman of Haribhakti & Co. The company is also in an early stage of discussions to raise growth funding of $2-4 million for scaling up operations globally, product research and development.

13) BankBazaar founded by Adhil Shetty, Arjun Shetty and Rati Shetty: Chennai-based online financial marketplace BankBazaar secured $30 million in a funding round from credit rating agency and information management company Experian. The funds will be utilized to further strengthen its position as the leader in secure paperless access to loans, cards, and mutual funds.

14) KrazyBee founded by Karthikeyan K, Madhusudan E and Wan Hong: Bengaluru-based microlending platform KrazyBee secured $8 million Series A equity and debt financing led by Xiaomi Technologies and Shunwei Capital. The round also saw participation from E-city Ventures and RK Group. The fresh capital will be used for strengthening the company’s risk model and core algorithm, geared towards catering to new market segments and focusing on product diversification.

15) RenewBuy founded by Balachander Sekhar: Gurugram-headquartered auto insurance aggregator RenewBuy raised $9.2 million from Bengaluru-based growth-stage PE firm, Amicus Capital Partners. With the fresh capital, RenewBuy is looking to expand its portfolio of services to include health, accident and life insurance.

Food & Beverage Industry

16) Chaayos founded by Nitin Saluja: Gurugram-headquartered chai startup, Chaayos secured $2 million funding from existing investor Tiger Global Management. The investment is part of an internal round of funding and will be deployed to expand the chain of tea outlets currently operating under the Chaayos brand.

17) EazyDiner founded by Vir Sanghvi: Gurugram-based online restaurant reservation platform EazyDiner raised $4.5 million in a Series B funding round from existing investors, including Saama Capital and DSG Consumer Partners. Two news backers, Singapore-based VC firm Beenext and a Middle Eastern family office, also participated in the round.

18) Fingerlix founded by Shree Bharambe: Ready-to-cook foodtech startup Fingerlix raised $7 million from venture capital firm, Accel Partners. The newly-secured funding will allow Fingerlix to expand its geographical reach beyond Mumbai, Pune, and NCR. The investment will be used to enter the markets in 10 Indian cities, including Bengaluru, Hyderabad, and Chennai. The funding will also be spent on strengthening the company’s presence in Delhi/NCR.

Advertising Industry

19) Oplifi founded by Anup Kumar and Gautam Dutt: Mumbai based early-stage venture capital fund Rainmaker Ventures capitalized $750K in Oplifi, a Singapore based programmatic media company that focuses on transparency, simplicity, and accessibility. Presently, Oplifi works with brands like Lufthansa, Motorola, Vicco in India, RWS and Amex in Singapore, Trapper Media in Malaysia, Cyber One Group in Hong Kong amongst others.

Logistics Industry

20) BlackBuck founded by Rajesh Yabaji: Bengaluru-based logistics firm BlackBuck raised $23.05 million in a venture debt funding from InnoVen Capital. The company will deploy the recently raised funds to expand its service offerings.

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