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

23/07/2018
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Consumer Internet Industry

1) Woodenstreet founded by Lokendra Ranawat, Dinesh Pratap, Virendra Ranawat and Vikas Baheti: Jaipur-based online custom-furniture platform Woodenstreet secured $1 million in a Series A funding round led by RVCF (Rajasthan Venture Capital Funds). The startup plans to expand and open new stores in other major cities, which will help the company to maintain their market leadership for customized solid-wood furniture.

2) StayAbode founded by Viral Chhajer, Devashish Dalmiya and Varun Bhalla: Bengaluru-based co-living space provider StayAbode raised an undisclosed amount of funding in a pre-Series A round led by Anupam Mittal (CEO, People Group), Vineet Sekhsaria (Head, Real Estate Investing, Morgan Stanley), and Japanese gaming company Akatsuki Inc. The startup plans to deploy the funding to scale its business and create more supply as demand increases. It also wants to expand in several other cities in due course of time and plans to go deeper into micro markets.

3) Muskaan Dreams founded by Abhishek Dubey: Youth-driven social startup Muskaan Dreams secured a funding of $218K led by Hindustan Zinc Limited. The startup plans to use the funding to transform 100 rural government schools in MP through online learning classrooms for students. The startup will help students in better understanding of subjects especially Maths, Science, and English with the help of audiovisual content and internet support.

4) SaffronStays founded by Tejas Parulekar: Micro hospitality startup SaffronStays raised $2 million in pre Series A funding from VC Sixth Sense Ventures. The startup has planned to deploy funds to accelerate its growth, hire top talent, and expand its inventory.

Technology Industry

5) Foyr founded by Shailesh Goswami:  VR focused prop-tech startup Foyr raised 4.2 million in an extended Series A Round led by SRI Capital, JLL, and other investors. The startup has planned to use funds to enter the US Market.

Fintech Industry

6) OfBusiness founded by Asish Mohapatra, Bhuvan Gupta, Chandranshu Sinha, Nitin Jain, Ruchi Kalra, Ruchi Kalra, Srinath Ramakkrushnan, and Vasant Sridhar: Gurugram-based SME lending startup OfBusiness raised $29.2 million in a Series C funding round from Creation Investments and Falcon Edge. Other existing investors like Matrix Partners India and Zodius Capital also participated in the funding round. The startup plans to utilize this funding to source funds from banks and other NBFCs for onward lending.

7) Amazon Pay founded by Jeff Bezos: Amazon India’s digital payment platform Amazon Pay raised $33.5 million led by Singapore-based Amazon Corporate Holdings and Amazon.com.incs. Amazon invested in Amazon Pay as it is looking to increase traction on the platform with cashback offers for shopping on its site. Further, the company is also planning to push Amazon Pay beyond its platform to third-party online merchants as well as to offline touchpoints.

Healthcare Industry

8) Welcomecure founded by Jawahar J. Shah and Punit Desai: Mumbai-based online homeopathy platform Welcomecure secured an undisclosed amount of funding from Bollywood couple Riteish and Genelia Deshmukh. The startup plans to deploy the funding to reinforce its infrastructure, expand the team, and promote the brand through consumer engagement activities.

Education Industry

9) Unacademy founded by Gaurav Munjal, Hemesh Singh and Sachin Gupta: Bengaluru-based edtech startup Unacademy raised $21 million in a Series C funding round from Sequoia India, SAIF Partners, and Nexus Venture Partners along with existing investor Blume Ventures. The startup plans to utilize the funding to onboard new educators on the platform and to penetrate deeper into categories including courses for pre-medical, GATE, and CAT. Also, it will be using the funds to support its core product and technology team.

Digital Media Industry

10) The Ken founded by Ashish K Mishra, Rohin Dharmakumar and Seema Singh: Subscription-based news company The Ken raised $1.5 million in a Series A funding round from Omidyar Network. The funding round also saw participation from Yuj Kutumb, the Family Foundation headed by Sid Yog, the Founder and Managing Partner of The Xander Group Inc., and a mix of existing and new angel investors. The startup plans to use new funds for fresh hiring and boosting growth.

11) Vebbler founded by Puneet Kumar and Sahil Bhagat: Bengaluru-based photo sharing application Vebbler raised an undisclosed amount of funding in a pre-Series A round. The funding round was backed by investors including Ambiga Subramanian, ex-CEO of Mu Sigma, actor Dino Morea, and VJ Nikhil Chinapa. The startup further plans to deploy the funding for senior-level hiring and marketing.

Food Industry

12) Eatigo founded by Judy Tan, Michael Cluzel, Pumin Yuvacharuskul and Siddhanta Kothari: Bangkok and India-based online restaurant reservation platform Eatigo raised a follow-on-funding as a part of its pre-Series C round from existing investor Tripadvisor. The startup plans to use the funding to expand in numerous markets and to further extend its product offerings. The startup will also be using the funds to expand its presence and services across the Asia Pacific region.

Entertainment Industry

13) TVF founded by Arunabh Kumar: TVF (The Viral Fever) raised an additional $6 million from existing investor Tiger Global. TVF generates its revenues through marketing and advertising streams associated with its content viewership.

14) FIRSTCut App founded by Abhinav Tyagi and Rishabh Ranjan: An online audition application FIRSTCut App, raised an undisclosed amount of funding from Kunal Singhal, MD, EazyERP. The startup plans to use the funding to reach out to a huge talent sitting in smaller towns. The latest funding will help the startup to augment and consolidate its position with some of the most influential clients in the market and add talent to its team.

15) Bigtree Entertainment founded by Ashish Hemrajani: Bigtree Entertainment, which runs the online ticket booking platform BookMyShow. The company raised $100 million in a Series D funding round led by TPG Growth, the middle market, and growth equity investment platform of alternative asset firm TPG. The company plans to use the latest funding to fuel its growth plans as it transforms into the ultimate ‘Entertainment Destination’ for its customers.

Automobile Industry

16) Cars24 founded by Mehul Agrawal and Vikram Chopra: Gurugram-based online used car marketplace Cars24 raised $49.7 million led by Sequoia Capital India and other existing investors like Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global. The startup plans to create an efficient and reliable way for car owners to sell their used cars at the best price.

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