Home > Blog > Blog > 13 Indian Startups Making News This Week (18 June -24 June 2018)

13 Indian Startups Making News This Week (18 June -24 June 2018)

26/06/2018
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Consumer Internet Industry

1) IndiQube founded by Rishi Das: Bengaluru-based Coworking space provider IndiQube raised $15 million equity funding in a round from WestBridge Capital. Ashish Gupta, co-founder of Helion Ventures, also participated in the round. The startup plans to use the funds to strengthen its execution capabilities and expand aggressively across Pune, Hyderabad, Chennai, Mumbai, and NCR.

2) RentSher founded by Harsh Dhand: Bengaluru-based online product rental startup raised $1.1 million funding from Abu-Dhabi based venture capital fund Shorooq Investments and Dubai-based Latitude Consultants. The startup plans to utilize the funds towards developing a global tech platform that supports customers as well as business partners. The company is also planning to use the funding for geographical expansion in some five to eight cities in India and the Middle East in 2018.

3) Muskaan Dreams founded by Abhishek Dubey: Gwalior-based non-profit social startup raised an undisclosed amount of funding from Hindustan Zinc Limited (part of Vedanta Group). Muskaan Dreams targets to transform 100 rural government schools in MP through E-learning classrooms for the students with this amount. This will create a significant impact on 15000 rural students, 300 Teachers and 100 villages across Madhya Pradesh.

E-commerce Industry

4) Purplle founded by Rahul Dash and Manish Taneja: Mumbai-based online beauty products marketplace Purplle raised $2.57 million from a group of investors. The funding round was from an unidentified London-based investment fund, with participation from Patrick Chong Fook Seng (Founder of Luxasia Group) and existing investor JSW Ventures. The startup also runs its own private label by the name of StayQuirky.

5) Wonderchef founded by Sanjeev Kapoor and Ravi Saxena: Mumbai-based startup led by celebrity chef Sanjeev Kapoor raised $10.2 million led by Amicus Capital at a valuation of $102.6 million. The online store for kitchen products plans to deploy the funds in brand building and expanding capabilities in terms of manufacturing and warehousing. The startup also aims to diversify its portfolio with new products.

Technology Industry

6) Noble House founded by Sumer Datta: Delhi-based HRtech startup Noble House secured $734K angel funding from HR and Business leaders based in Singapore and India. The startup is now looking for a Pan-India and Asia expansion before they start exploring the other geographies across the globe. The funding will also help the company improve its technology platform and accelerate hiring to create a wider outreach.

7) Pivotchain Solutions by Deepak Rao: Pune-based data science startup Pivotchain Solutions raised $290 K led by the full stack fintech platform, Mobikwik. The startup looks forward towards working with MobiKwik, to deliver the right lending solution across the user base.

Fintech Industry

8) Cashify founded by Mandeep Manocha: Gurugram-based online used phone platform Cashify secured an undisclosed amount of funding led by the Chinese recommerce giant AiHuiShou. The partnership will also enable Cashify to tap into AiHuiShou’s technology. The startup plans to expand to international markets like Indonesia and the Middle East as a joint entity by next year.

9) SMECorner founded by Samir Bhatia: Mumbai-based online microlending startup SMECorner raised $7 million in the new funding round from Capital First and existing investor Accion Ventures. The startup plans to utilize the funding to scale its loan book by expanding on its offline branches and honing its technology platform.

10) Drip Capital founded by Neil Kothari and Pushkar Mukewar: California and India-based SME lending startup Drip Capital raised $15 million in an equity funding round from Accel, Sequoia India and Wing VC investors. The startup is planning to utilize the raised funds to scale up its operations in India and for modifying its models in other geographies. The startup aims to create a playing field for existing SMEs and increase the global trade.

Healthcare Industry

11) Clinivantage founded by Abhay Chopada, Dinesh Samudra and Nilesh Jain: Mumbai-based healthtech startup Clinivantage Healthcare Technologies raised $1 million led by US-based investor group Metaform Ventures LLC. The startup plans to use the latest raised funds to scale and expand across the globe, for product development, deployment of resources for implementation, and for travel and administration. The startup offers a flagship PaaS (Platform-as-a-Service) across IoA (Internet of Applications) products and the DoTTM (Doctor of Things)-connected IoT medical devices.

Food Industry

12) Swiggy founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini: Swiggy raised $210 million in a Series G funding led by existing investor Naspers and new investor DST Global. The round will also see participation from Swiggy’s existing shareholder, Meituan-Dianping, and a new investor, Coatue Management.  With the hottest round of funding, Swiggy marks its entry to the Unicorn club.

Automobile Industry

13) Wicked Ride founded by Anil G, Varun Agni and Vivekananda Hallekere: Bengaluru-based bike rental platform Wicked Ride raised $8.98 million in funding round from venture capital firms Sequoia Capital and Accel Partners. With the support of Sequoia and Accel Partners, the startup looks to support its expansion plans against its increasing number of competitors. Presently, Wicked Ride offers around 65 to 100 bikes at 36 out of 42 metro stations across Bengaluru.

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