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Consumer Internet Industry
1) Chaaipani founded by Shruti Chaturvedi: Ahmedabad-based internet-media startup Chaaipani ends a seed funding round. The investment is made by a group of entrepreneurs such as Bhupesh Chowdary (CEO, Powermech), Chiranjiv Patel (MD, PC Snehal Group), Yogesh Chaudhary (Director, Jaipur Rugs), Prabhu Ram (Founder, Paynear), Yogesh Goyal (Director, RTG Ventures), Rahul Agarwal (Founder, Idea Insurances) and Pankaj Maloo (Founder, Kreative Fingers). The company plans to deploy the funding to build high-quality video content, boost its distribution platform as well as reinforce its technology infrastructure. The investment will also be utilized to set-up a community-driven network to prove and validate content shared on the website.
E-commerce Industry
2) Buttercups founded by Arpita Ganesh: Bengaluru-based online lingerie startup Buttercups raised an undisclosed amount of funding from Google India MD Rajan Anandan and angel investor Chandra Chappadi. Existing investors Kanwaljit Singh and Anand Chandrasekaran also participated in the round. The investment was made through online deals platform, LetsVenture. With this, Buttercups’ total fundraises till date is believed to have reached $1.2 million. The investment would allow the lingerie startup to pivot to a no-inventory model, while also moving manufacturing to India. Also, the new funds will be used to introduce new ranges of bras in sports, maternity, and nursing categories.
Fintech Industry
3) Early Salary founded by Akshay Mehrotra and Ashish Goyal: Pune-based fintech startup EarlySalary secured $15.7 million in Series B funding from Eight Roads Ventures India. Existing investors IDG Ventures India, Dewan Housing Finance Corp Ltd (DHFL) and early backer Ashok Agarwal also participated in the round.
4) FinREQ founded by Bhavik Mehta: Online lending platform FinREQ secured an undisclosed amount of funding from Bennett Coleman and Co Ltd (BCCL) against a minor stake in the company. The startup will now focus on improving the deal flow with better brand recognition and market awareness in India.
5) Paisabazaar founded by Naveen Kukreja: The online financial services arm of digital insurance aggregator PolicyBazaar, They received a funding commitment of $31.58 million from its parent firm EtechAces Marketing and Consulting. As per reports, this is part of $78.9 million pre-IPO fund raised by EtechAces in October 2017.
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Contra stocks or funds are possibly the ones which investors need to live with a little more patience at their end than other strategies. It’s simply because of the fact that some of these value plays tend to take a little bit of time to crystallize as stories, what we eventually expect out of those companies. Thanks for sharing a great article.
Very interesting, Jay! Thanks for sharing!