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20 Indian Startups Making News This Week (23 July -29 July 2018)

31/07/2018
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Consumer Internet Industry

1) Awfis founded by Amit Ramani: Delhi-based collaborative workspace provider Awfis secured $20 million in a Series C funding round from existing investors including Sequoia Capital, The Three Sisters: Institutional Office (TTS:IO), and InnoVen Capital. The company plans to strengthen and deepen its network across India.

2) LoginRadius founded by Rakesh Soni and Deepak Gupta: New Delhi-based enterprise application provider LoginRadius secured $17 million in a Series A round of funding from ForgePoint Capital and Microsoft’s venture fund, M12. The company plans to use the raised funds to accelerate product innovation, customer acquisition, and global expansion.

3) GirnarSoft founded by Amit Jain: Jaipur-based business value focussed IT company GirNarSoft raised $3.6 million in debt fund from Trifecta Debt Fund-I. The company provides various services including website designing, website development, e-commerce site building, mobile app development, internet marketing, among others.

4) Trell founded by Pulkit Agrawal: Bengaluru-based experience discovery platform Trell raised $1.25 million in a Seed round of funding co-led by BEENEXT AND WEH Ventures. The startup plans to use the raised funds to expand and strengthen the team in the areas of product, technology, and data science.

5) ModSpace founded by Avijit Marwah: Gurugram-based designer brand for customized modular kitchens ModSpace raised $1 million from Arrivae. The company plans to use the raised funds to build its technology, team to expand its product offerings, and drive a better customer experience.

Technology Industry

6) Iqlect founded by Sachin Sinha: Bengaluru-based big data analytics startup Iqlect raised a bridge round of $2.5 million led by Ventureast and existing investor Exfinity Ventures. The company is looking to hire VP’s for engineering, product management, marketing and sales and also a country manager for India. Also, it is in process of shifting its base to San Jose, US.

7) MinersINC founded by Nitin Narkhede and Deepak Jayaram: Singapore and India headquartered P2P blockchain startup MinersINC raised an undisclosed amount of angel funding from V C Bothra. The startup further plans to use a community-driven approach in the entertainment sector for content creation and distribution, allowing direct and more rewarding interactions between all the stakeholders that make up the entertainment economy.

8) Entropik Tech founded by Ranjan Kumar: Bengaluru-based emotion AI startup Trell raised $1.1 million in a pre-Series A round of funding from Bharat Innovation Fund. The startup plans to use the raised funds to scale its platform, Affect Lab 2.0, launch more IP-based products, and expand its global footprint.

9) Log 9 Materials founded by Akshay Singhal: Bengaluru-based nanotechnology startup Log 9 Materials raised $437 K in a pre-Series-A round of funding from Metaform Ventures, Hemant Luthra, Chairman, Mahindra CIE, GEMS and other angel investors. The startup has planned to deploy the raised funds to strengthen its commercial operations and patented product portfolio, as well as to boost R&D activities extensively.

110) VTION founded by Manoj Dawane: Mumbai and Gurugram-headquartered SaaS-based platform VTION raised $280 K in a funding round led through AngelList India. The startup plans to use the raised funds to expand its product line in the Indian market and abroad, recruit its next level team, patent applications in select countries, and expand its product map into adjacent digital areas.

11) Kyte.ai founded by Ravish Naresh: Mumbai-based smart SMS application Kyte.ai raised $120 K from Y Combinator as part of its summer cohort 2018. The startup specializes in blocking spam and automatically organizes the user’s inbox. It comes with an inbuilt spam blocker which gets updated in real time. The company claims to have crossed 100K downloads in the last two months.

Fintech Industry

12) PaySense founded by Prashanth Ranganathan:  Mumbai-based fintech company PaySense raised $18 million in its Series B round of funding from PayU. The company plans to tap into the emerging middle class of India and looks to hire more people to strengthen its tech and data analytics team with the help of raised funds.

13) Aye Finance founded by Sanjay Sharma and Vikram Jetley: Delhi-NCR-based online lending startup Aye Finance raised $10 million in a new round of debt funding by converting non-convertible debentures led by global impact investment managers Triple Jump BV and MicroVest Funds and was executed by Northern Arc Capital (formerly IFMR Capital).

14) Digit Insurance founded by Kamesh Goyal: Bengaluru-based insurtech startup Digit Insurance raised $44 million in its second round of funding from Fairfax Holdings. The startup plans to use the funding to expand its distribution network across the country.

Healthcare Industry

15) LifCare founded by Deepesh Rajpal, Krishna Killa and Rohit Mohta: New-Delhi based subscription online pharmacy LifCare raised $11 million in a Series B round of funding from SAIF Partners, Nexus Ventures, and Infrastructure Leasing & Financial Services Limited. The startup plans to use the funding to expand its geographical presence and further invest in technology.

16) AyurUniverse founded by Venkat Rao and Vijay Kumar Karai: Bengaluru-based online health and wellness portal, accredited by the Ministry of Tourism, Govt. of India secured $1 million led by Air Deccan investor, the Ladhani family. The company plans to use the funds in developing disorderly AI and VR technology to boost customer experience on the portal.

Education Industry

17) Educational Initiatives founded by Sridhar Rajagopalan, Sudhir Ghodke and Venkat Krishnan: Ahmedabad-based edtech company Edtech company Educational Initiatives raised $25 million from a private equity firm named Gaja Capital. The company will be utilizing the raised funds to build its technology platforms, expand its product portfolio, and enter the new markets, including the US.

18) Vokal founded by Aprameya Radhakrishna: Bengaluru-based knowledge sharing platform Vokal secured $5 million in a Series A round of funding led by Chinese investor Shunwei Capital, and 500 Startups. The startup is looking to soon expand into languages like Bengali, Marathi, Tamil and Telugu.

19) Kidovators founded by Priyadeep Sinha and Sonali Gupta: Bengaluru-based edtech startup Kidovators raised $180 K in a Seed round of funding from impact investor Gray Matters Capital. The startup will use the raised funds to scale its programmes to over 100K students and 600 partner schools in 2018 and to support its core content, technology, and sales teams.

Travel Industry

20) Bitla Software founded by Dasharatham Bitla: Bengaluru-based travel tech startup Bitla Software secured an undisclosed amount of funding from MakeMyTrip. The company plans to use the new fund raise to speedily develop and expand its suite of travel focused technology products.

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