17 Indian Startups Making News This Week (16 April -22 April 2018)

23/04/2018
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Consumer Internet Industry

1) Fyle founded by Sivaramakrishnan Narayanan and Yashwanth Madhusudan: Bengaluru-based expense management startup Fyle secured $1.1 million in funding from existing investors, Pravega Ventures and Beenext. The startup will deploy the funding to expand its sales and marketing teams and also invest in R&D to assist customers even better.

2) True Balance founded by Cheolwon Lee: Gurugram and Korea-based mobile balance management service startup True Balance raised $23 million in a bridge round of funding led by a consortium of investors including Japan-based global messenger Line Ventures Corporation, Korean search engine Naver, Korean lender Shinhan Bank and TS Investment amongst others. The startup plans to utilize the funding towards talent acquisition and expanding benefits of need-based financial services.

E-commerce Industry

3) ShopX founded by Amit Sharma and Apoorva Jois: Bengaluru-based assisted ecommerce startup ShopX raised $2 million in funding from strategic investor Nandan Nilekani.

4) MamaEarth founded by Varun Alagh: Delhi-based online baby care products startup MamaEarth raised $250K from Bollywood actress Shilpa Shetty Kundra. The startup plans to use the fresh fundings to improve awareness of the brand, expand product categories as also scale up its offline footprint and distribution.

Fintech Industry

5) Affordplan founded by Hemal Bhatt: New Delhi-based fintech startup Affordplan raised $10 million in Series B round of funding from Lok Capital, Omidyar Network. The startup plans to utilize the funding to meet the growing demand for its platform and to advance the countrywide adoption of Affordplan in several hospitals.

6) PaisaDukan founded by Rajiv Ranjan: Mumbai-based fintech startup secured $650K in an angel funding. The startup plans to deploy the funding for marketplace platform and mobile app development.

7) Coverfox founded by Devendra Rane and Varun Dua: Mumbai-based online insurance brokerage platform CoverFox raised $22 million in a Series C funding round led by IFC, a member of the World Bank Group; Transamerica and other existing investors. The startup will utilize the funding to expand insurance coverage into Tier-II and Tier-II cities and specifically address women’s needs.

Logistics Industry

8) Pando founded by Nitin Jayakrishnan: Bengaluru-based startup digitizing the logistics operations for majorly Fortune 500s and global blue-chips Pando raised $2 million in a Seed round of funding from Nexus Venture Partners. Kashyap Deorah at Hypertrack, Girish Mathrubootham at Freshdesk, Nishant Rao at Sirion Labs (Ex-LinkedIn India MD) and P Balaji at Vodafone (Ex-Nokia, Sony Erickson India MD) also participated in the latest funding round. The startup will stay focus on product and people, to comfort and support commerce through digital deliveries.

9) Lynk founded by Abinav Raja and Shekhar Bhende: Chennai-based logistics startup Lynk raised $3 million in funding from the existing investor Ramco Group.

10) Cogoport founded by Anurag Dabral, Harsh Kumar, Kunal Rathod and Shekhar Purnendu: Mumbai-based freight logistics startup Cogoport raised an undisclosed amount of Series A funding led by Accel Partners. The startup plans to utilize the funding to capitalize in developing new product and fuel business growth by expanding globally and increase its footprint in the domestic market.

Agritech Industry

11) AgNext founded by Deepak Jaiswal, Mrigank Sharad and Taranjeet Singh Bhamra: Chandigarh-based agritech startup AgNext raised an undisclosed amount of Series A funding through its Omnivore partners India Fund 2. The startup plans to deploy the funding to expand its product in the data analytics in agriculture space by creating a combination of both hardware and software.

Fintness Industry

12) CureFit founded by Ankit Nagori and Mukesh Bansal: Bengaluru-based fitness startup CureFit raised $632.8K led by Flipkart co-founder Binny Bansal and Myntra-Jabong CEO Ananth Narayanan.

Healthcare Industry

13) PregBuddy founded by Sivareena Sarika, Subhadeep Mondal and Yash Ladia: Bengaluru-based healthcare startup for mothers PregBuddy raised an undisclosed amount in a Seed round of funding from Indian Angel Network. The startup plans to utilize the funding to expand its team in fields of technology, marketing, and business development and scale up the platform.

14) MBLOOD founded by Sushil Lalwani: Chennai-based blood donation startup MBLOOD secured $75.7K from SPPLJ Charitable Trust, Chennai to expand its services to a network of 1 million users by the end of the year 2018.

Hotel Industry

15) Icanstay.com founded by Puneet Gupta: New Delhi-based hotel aggregator icanstay.com raised a fresh round of funding of $197.84K from an angel investor Manoj Prasad, executive chairman at Singapore-based venture capital and management advisory firm MP Morgan Capital Partners Pte. Ltd. The startup plans to use the funding to strengthen the technology and expand hotel network.

Food Industry

16) Chai Point founded by Amuleek Singh Bijral: Bengaluru-based tea retailer Chai Point raised $20 million in Series C round of funding from Paragon Partners. The startup plans to use a substantial portion towards deepening its sales, marketing and service operations for its automated hot beverage dispensing business – boxC.in – which is the next growth driver for the business.

17) Sleepy Owl founded by Ajai Thandi, Ashwajeet Singh and Arman Sood.: Delhi-based cold brew coffee company, Sleepy Owl raised $500K in seed funding from DSG Consumer Partners (DSGCP). The startup will use the funding to leverage its product development and manufacturing capabilities to expand its product portfolio and grow on a national scale.

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