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14 Indian Startups Making News This Week (11 June -17 June 2018)

18/06/2018
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Consumer Internet Industry

1) Pixr8 founded by Nitish Singh: The online business media platform based out of Ghaziabad raised $37K in seed funding. The startup will deploy the fresh capital for expanding its customer base, acquiring readership and hiring new talent that could boost its market reach and business operations. The startup is focussed at the intersection of platforms, publishers and communities.

2) HomeLane founded by Srikanth Iyer: Bengaluru-based online home furnishing startup HomeLane secured $3.54 million from Brand Capital which is the strategic investment arm of the media giant Bennett, Coleman and Co. Ltd. HomeLane plans to deploy this fresh funding for expansion and strengthening its brand to attract customers. The startup aims to offer its customers a smoother and more streamlined home designing experience supported by technology.

3) DailyNinja founded by Sagar Yarnalkar and Anurag Gupta: DailyNinja, the hyperlocal subscription-based delivery startup based out of Bengaluru raised $3 million lead by Saama Capital and existing investor Sequoia Capital. The startup plans to expand its business by acquiring more customers across Bengaluru, Hyderabad, and Gurugram. The funds will also be utilized to upgrade customer experience by adding more offerings for their customers.

E-commerce Industry

4) eShakti founded by B.G.Krishnan: Mumbai based Paragon Partners invested $11 million in Chennai-based women’s fashion brand startup eShakti. The investment will be used to fuel startup’s growth plans.

5) What’s Up Life founded by Gaurav H Luthra: The Gurugram-based online lifestyle media platform What’s Up Life raised an undisclosed amount of funding from television personality Rannvijay Singh, who also joins the company as its brand ambassador. Currently present in Gurugram, Kolkata, and Hyderabad, the startup plans to expand to various other cities like Mumbai, Bengaluru, Pune, Chandigarh, and Jaipur in the next six months. The startup also has many exciting events and product upgrades lined up.

Technology Industry

6) Network Intelligence founded by K K Mookhey: Bengaluru-based cybersecurity services company Network Intelligence raised $4.87 million from private equity firm Helix Investments. The startup plans to use the funds for two purposes- expanding to the US and Europe markets and to enhance product development initiatives.

Fintech Industry

7) Aye Finance founded by Sanjay Sharma and Vikram Jetley: Gurugram-headquartered online lending startup Aye Finance. The company secured $21.7 million in its Series C round of funding led by CapitalG. Aye Finance will use the funding to further increase its loan book, which stands at about $77 million and in building its technology platforms.

8) CredAble founded by Nirav Choksi: Mumbai-based supply chain financing startup CredAble raised $14.8 million in a Series A funding round from Alpha Capital. The startup will mainly use the funds to expand its loan book and to accelerate its growth plans by looking at new hirings and building a robust technology backbone. The startup also plans to develop value propositions across additional ecosystems such as manufacturing, etc.

9) Nivesh.com founded by Anurag Garg and Sridhar Srinivasan: Noida based mass market mutual funds investment platform, Nivesh.com secured $440K in seed funding through LetsVenture. Rajan Anadan (Google India MD) and Basab Pradhan (former Infosys Global Sales Head) are among the major angel investors in the venture. The startup is also looking at strengthening its distribution network and in enhancing its technology platform to make it more intelligent.

10) Paytm Mall founded by Vijay Shekhar Sharma – Paytm Mall received $225 million as the last tranche of $445 million funding from SoftBank and Alibaba. SoftBank’s investment arm SB Investment Holdings invested $200 million while Alibaba put in $25 million in the e-commerce company. With this funding, SoftBank looks to take up a 21% stake in Paytm Mall, while Alibaba will hold 46%. The startup believes that online-to-offline retail is the way forward in India and aims to triple its offline presence by the end of 2019.

Healthcare Industry

11) Theranosis Life Sciences founded by Shibichakravarthy Kannan: The medical diagnostic startup based out of Hyderabad raised an undisclosed amount of funding from Mumbai Angels Network. The company aims to explore non-invasive diagnostics for cancer patients and has patented a device that can reduce the need for surgical biopsies. The startup plans to use the funds to exhibit revolutionary innovations in the cancer treatment landscape.

12) NirogStreet founded by Ram Kumar: Technology led Ayurveda platform NirogStreet raised $ 300K from the Japanese venture fund Spiral Ventures, Subho Ray (President, IAMAI) and Samir Kumar (Director of Derivatives at Deutsche Bank, Singapore).The startup plans to employ these funds for the technological advancement of their platform dedicated to make Ayurveda the first call of treatment globally. The funds would also be deployed in spreading awareness and visibility about Ayurveda.

Food Industry

13) Wow! Momo founded by Sagar Daryani: Kolkata-based quick-service restaurant chain, Wow! Momo raised an undisclosed amount from William Bissell, the MD Fabindia. Mr. Bissell will also play a role in advising us the startup on their growth strategy.

14) Everyday Gourmet Kitchen Pvt. Ltd. founded by Satyajit Roy: Mumbai-based Everyday Gourmet Kitchen Pvt. Ltd. (EGK) secured pre-seed funding of $ 300K from Pradyumna Kokil, belonging to a family of CAs from Nasik, to take the company to its next level of expansion.

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