Home > Blog > Blog > 21 Indian Startups Making News This Week (23 October- 29 October)

21 Indian Startups Making News This Week (23 October- 29 October)

30/10/2017
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Consumer Internet Industry

1) ParkEasy founded by Eric Tan and Warren Chan: Machine learning based parking discovery startup Park Easy, which operates Android app Peazy secured an angel funding from Dutch Accelerator Rockstart. The amount is said to be around $117.4K and the deal has been done at a valuation of $1.8 million. With this deal, Park Easy will also shift its base to the Netherlands.

2) Skillenza founded by Prashant Koirala, Rajesh Rai, and Subhendu Panigrahi: Bengaluru-based online platform, Skillenza (formerly known as Venturesity), which helps enterprises in hiring talent secured $722K in a Seed funding round from Blume Ventures and Indian Angel Network. Aneesh Reddy from Capillary, Surojit Niyogi from HomeBit, Raghu from Taxi for Sure, Pallav Nadhani from Fusion Charts and Tracxn also participated in this round of funding. The freshly raised funds will be deployed to disrupt skill building and talent engagement activities.

3) Harness.io founded by Jyoti Bansal: BIG Labs invested in the $20 million Series A round of Harness.io, a Continuous Delivery-as-a-Service platform, along with Menlo Ventures. Matt Murphy, partner at Menlo Ventures is joining the board of Harness.

4) TagBox founded by Saumitra Singh and Adarsh Kumar: Bengaluru-based cold chain monitoring solution provider TagBox raised an undisclosed amount of angel investment from Indian Angel network and the IAN Fund. The funding round was led by IAN members Naveen Gupta and Dinesh Goel. The startup plans to use the funds for product development, filing patents and global certifications for its entire tech stack and is currently focusing on cold chain solutions for pharma, F&V, dairy, meats, processed and frozen food, e-commerce and retail.

E-commerce Industry

5) BigBasket founded by Abhinay Choudhari, VS Sudhakar and Hari Menon: Bengaluru-based online grocery startup Bigbasket raised $5 million from Helion Ventures Partners. This comes at a time when rival Grofers India has pumped in $14.7 million from its Singapore-based parent company Grofers International.

Technology Industry

6) Bharati Robotics founded by Debashis Das: Pune-based cleaning and material handling equipment maker Bharati Robotics raised an undisclosed amount of funding led by its existing investors – Society For Innovation and Entrepreneurship (SINE, IITB Incubator), and other angel investors. The raised fund will be deployed to expand the manufacturing capacity and technology applicability and cater to demand from both local and global customers.

7) ShieldSquare founded by Rakesh Thatha, Vasanth Kumar Gopalakrishnan, Jyoti Kakatkar, Srikanth Konijeti and Pavan Thatha: Bengaluru-based bot mitigation and management startup ShieldSquare secured an undisclosed amount of Series A funding in a round from Endiya Partners and RPG Ventures. Anthill Ventures and existing investors StartupxSeed, Venture Highway and a few angel investors also participated in the round. The company will use the freshly-secured financing to strengthen its bot mitigation technology platform. A portion of the funding will also go into expanding its market presence across the US and Europe.

8) Cashfree founded by Akash Sinha and Reeju Datta: Payments platform Cashfree secured $120K in seed funding from Silicon Valley-based startup accelerator Y Combinator. The funds will be used for product development, hiring more individuals to sales and engineering platforms, strengthening bank partnerships, as well as for marketing engagements.

Education Industry

9) Toppr founded by Hemanth Goteti and Zishaan Hayath: Mumbai-based personalized e-learning solutions provider and online test preparation platform, Toppr raised $6.92 million in its Series B funding, from its existing investors SAIF Partners, Helion Ventures, and FIL Capital Management. This capital will be utilized to expand the geographical footprint and accelerate user acquisition.

Fintech Industry

10) Olly Credit founded by Ashwin Bhambri and Ringaile Noq: Delhi-based fintech startup that offers micro-credit cards Olly Credit raised an undisclosed amount of funding in Seed round of funding from Incubate Fund. Former Kotak Mahindra Asset Management Company CEO Sandesh Kirkire; Anand Kumar, Partner at Sand Hill Counsel and  Jaipur Rugs Director Yogesh Chaudhary also participated in this round of funding.

11) OfBusiness founded by Nitin Jain, Srinath Ramakkrushnan, Ruchi Kalra, Asish Mohapatra, Vasant Sridhar, Bhuvan Gupta, and Chandranshu Sinha: Gurugram-based SME lending platform OfBusiness secured $3.8 million in debt funding from Kotak Mahindra Bank.The funding comes as an extension to the $7.6 million working capital limit that the startup recently procured from the bank. With the raised funding from Kotak Mahindra, the startup aims to further expand its reach across the country to encompass a larger number of asset-light MSMEs that are currently unbanked.

12) ZipLoan founded by Shalabh Singhal and Kshitij Puri: Delhi-based SME lending platform, ZipLoan secured $3 million in Series A funding led by Matrix Partners India. The round also saw the participation of the fintech startup’s existing investors, including WaterBridge Ventures, Whiteboard Capital and former Capital18 MD, Sarbvir Singh. The company will use the raised capital for geographical expansion in non-metro cities. The funds will also enable the SME lending platform to increase its loan book size.

13) CASHe founded by V. Raman Kumar: Mumbai-based app-only lending platform CASHe raised $3.07 million in debt funding from IFMR Capital in its NBFC company, Bhanix Finance and Investment. The funding will be used by the fintech startup to ramp up its loan book.

Legal Industry

14) SpotDraft founded by Shashank Bijapur and Madhav Bhagat: Gurugram-based legaltech startup SpotDraft raised $550K in a Seed funding round led by VC firm Hunch Ventures. The other investors that participated in the round include Japan-based Spiral Ventures, 500 Startups, Singapore Angel Network and Citrus Payments founder Satyen Kothari. The platform has plans to use this capital from Hunch Ventures and others for scaling the business and marketing the product locally. The capital will be further deployed to strengthen the startup’s presence in the contract automation sector, which boasts a market potential of $80 billion.

Healthcare Industry

15) Medsmart founded by Nelson and P S Anand Kumar: Bengaluru-based healthtech startup Medsmart raised $1 million led by Excel Business Solutions. The investment is a structured deal involving an equity and technology partnership, where Excel will develop and maintain the Medsmart’s real-time intelligence data engine.

16) Original4Sure founded by Shreyans Sipani and Divay Kumar: Original4Sure, which offers anti-counterfeiting and original product identification solutions, raised $400K from a group of investors led by Venture Highway, Startup Buddy and Nirav Chokshi. The funds, to be utilized for tech and business development, were raised through the platforms Mumbai Angels and Let’s Venture.

Sports Industry

17) PlayX founded by Kabeer Jain:  Gurugram-based esports startup PlayX secured undisclosed amount as angel funding from Lead Angels Network – an alumni-focused pan India angel network. The startup will utilize the funds to develop its technology, build the team and create gaming focused marketing campaigns.

Real Estate Industry

18) PropStory founded by Ashish Mahajan and Bhagwandas Paliwal: Gurugram-based real estate content portal PropStory raised an undisclosed amount in an angel funding round. The investors included Abhishek Bhatewara, a member of angel investor platform Mumbai Angels; Vivek Shah, head of investment banking at Chinese securities and brokerage major Haitong Securities; Suraj Saharan, co-founder of logistics startup Delhivery; Paras Arora, co-founder of Tea Halt, a tea-based restaurant chain; and a few other angels participated in the round. PropStory will deploy the funds to recruit full-time content writers, for business development, product development, and to introduce new services.

Food & Beverage Industry

19) RAW Pressery founded by Anuj Rakyan: Rakyan Beverages Pvt. Ltd, the maker of organic cold-pressed juices and other beverages sold under the brand RAW Pressery, raised $6 million to fund expansion. It plans to deploy the funds to expand its manufacturing capacity and distribution reach for new product launches.

20) FYRE founded by Rahul Manek: Herbal energy shot maker FYRE raised $500K in a seed funding round from Venture Catalysts. The investment in FYRE is led by Venture Catalysts angels – Apurva Parekh (Director, Pidilite Industries),Anupam Mittal (Founder, Shaadi.com), Vikash Agarwal, Manish Agarwal (Founders,Nandan Group) RomilRatra (Cofounder, Bellona Hospitality), Kunal Kishore(Founder, Value 360 Communications) AkshayBardia (Director, AT Plus), Karim Jaffer (MD, Gossip Shoes) Vijay Lakhani, Anil Jain, Amit Agrawal, Anup Agrawal, Dipan Dalal and others. The startup funding will be utilized by the company to ramp up operations, expanding sales & marketing team and enhance its distribution network.

21) Chevon founded by Rizwan Thakur: Chevon Agrotech, an integrated frozen food company raised funding from Singapore-based Greenfield Advisory to develop new products and expansion. With plans to enhance its reach to all major markets in India, the company will also use the funds to launch marketing campaigns, ramp up distribution and drive its international foray in the Middle East and South-East Asian markets.

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