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15 Indian Startups Making News This Week (19 February- 25 February 2018)

26/02/2018
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Consumer Internet Industry

1) Grab founded by Jignesh Patel, Nishant Vora and Prakshit Sanghvi: Mumbai-based hyperlocal delivery startup Grab raised $1.5 million in funding led by SIDBI Venture Capital Arm, SIDBI Venture Capital Limited (SVCL). The startup will utilize the funding towards scaling up its smart locker platform and crowdsourced distribution centre model.

2) Linksmart DNA founded by Ashish Anand: An IP-oriented mass market vertical startup Linksmart DNA secured $200K from Amrita Technology Business Incubator (TBI) during PitchFest 2018.

3) CoLive founded by Suresh Rangarajan: Bengaluru-based co-living space provider CoLive raised $1.8 million in a round of funding from Ncubate Capital Partners, the private investment arm of SAR Family Office. The startup plans to use the newly raised funding to expand its presence and work towards its goal of offering one million managed homes in 25 cities across India. It will also deploy the funds to rise up its technology infrastructure and improve its talent pool.

4) FourKites founded by Mathew Elenjickal: Chennai-based predictive supply chain platform FourKites secured $35 million in Series B funding round from August Capital with the participation of existing investors Bain Capital Ventures and Hyde Park Venture Partners. With this, Eric Carlborg, General Partner at August Capital, will join the FourKites board. The startup will use funding towards geographic and product expansion.

5) ODeX founded by Liji Nowal, Vinit Shetty, Anand Raman, Kapil Patel, and Binai Thoppil.: Mumbai-based Odex, an online shipping documentation provider, raised an undisclosed amount of funding from Dubai-based fintech startup Invoice Bazaar Holdings Ltd against a minority stake. The startup will use the funds to expand its footprint across West Asia as well as to develop products.

E-commerce Industry

6) Shopclues founded by Sanjay Sethi, Sandeep Aggarwal and Radhika Aggarwal: Online marketplace ShopClues raised $1 million in a bridge round of funding from Ronnie Screwvala-managed Unilazer Ventures.

7) Doodhwala founded by Aakash Agrawal and Ebrahim Akbari: Bengaluru-based Doodhwala, a micro-delivery service for fresh groceries received an angel funding of $2.2 million led by Omnivore. The new funding will go towards expanding Doodhwala’s service into new markets, finding talent acquisition and upgrading technology.

Technology Industry

8) Yellow Messenger founded by Anik Das, Kishore Reddy, Raghu Kumar and Rashid Khan: Conversational artificial intelligence (AI) platform Yellow Messenger secured $200K from Amrita Technology Business Incubator (TBI) during PitchFest 2018.

9) Book My Diamond founded by Pinank Kamdar and Sankalp Goyal: Mumbai-based Book My Diamond, a technology platform that helps jewellery retailers to search a live inventory of loose, certified diamonds and buy them, secured $200K from Amrita Technology Business Incubator (TBI) during PitchFest 2018.

10) Capillary Technologies founded by Ajay Modani, Aneesh Reddy and Krishna Mehra: Capillary Technologies secured $20 million funding from Warburg Pincus and Sequoia Capital. The startup will deploy the funding to strengthen its new product development, powered by artificial intelligence and machine learning, catering to Asia and other upcoming emerging markets. They also plan to invest in the newly launched consumer goods vertical.

11) DroneHQ founded by Akash Shah, Divyesh Kharade and Jinen Dedhia: Mumbai-based enterprise mobile app platform DronaHQ raised $500K in the second round of angel funding from Kutchi Angel Network. The startup will utilize the new funds to create its sales team in the US and South East Asia.

Finance Industry

12) Aye Finance founded by Sanjay Sharma and Vikram Jetley: Gurugram-based online lending startup Aye Finance raised $3.8 million from three investors, including Hinduja Leyland Finance and IntelleGrow. The funds will be deployed to expand its online lending offerings in the MSME sector.

13) HighRadius founded by Sashi Narahari: AI-based fintech company HighRadius secured an undisclosed amount in a strategic funding round from Citi Ventures and PNC. The startup plans to invest the present fundraise towards its expansion across North America, Europe, and Asia.

Healthcare Industry

14) THB founded by Akansh Khurana: Gurugram-based healthcare analytics startup THB (Technology | Healthcare | Big Data Analytics) secured $2.1 million funding from Blume Ventures and HealthQuad. Existing investors like Fireside Ventures; Apoorva Patni, Director of Currae Healthtech Fund and Arpan Sheth, Partner at Bain & Company, also participated in the round.

Agriculture Industry

15) Agricx Lab founded by Ritesh Dhoot and Saurabh Kumar: Mumbai-based agritech startup Agricx Lab raised Seed funding to the tune of $500K from India-focussed VC fund Ankur Capital along with IIM Ahmedabad’s Centre for Innovation, Incubation and Entrepreneurship (CIIE). The capital will be deployed to support product development and expansion.

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