Here is a list of top funding deals that happened in Indian Startup Ecosystem this week. Check out the brief description about all of them.
Indonesia’s Go-Jek Raises $1.2B Led by Tencent at $3B Valuation
Indonesian ride hailing giant GO-JEK has reportedly raised $1.2 billion in its latest funding round led by Chinese Internet company Tencent. Post the investment, Go-Jek is now valued at $3 billion. The funding will be used to fuel its project of expanding across Southeast Asia, prominent destinations being Philippines, Thailand, Myanmar and Vietnam and to further compete with Uber and Grab’s presence in the Indonesian region. The startup further plans to improve its digital payments feature and e-wallet, GoPay.
MakeMyTrip to Raise $330M from Naspers, Ctrip & Others
Travel portal MakeMyTrip.com (MMT) is reportedly looking to raise $330 million from South African Internet and media conglomerate Naspers and Ctrip as well as other investors. The company will separately raise an additional $165 million through a private placement, under the terms of which it will issue about 4.5 million ordinary shares at $36 apiece. Morgan Stanley India is acting as sole placement agent for the transaction, it said, without disclosing the identity of the investors.
Ola Raises $104M More from Falcon Edge, Ratan Tata Fund
Bengaluru-based cab aggregator Olacabs has further raised $104.4 million (Rs 670 Cr) in Series I from US-based hedge fund Falcon Edge Capital Capital and Ratan Tata’s RNT Capital, as per recent regulatory filings with the Registrar of Companies. US hedge fund Falcon Edge invested Rs 402 crore while UC-RNT Fund, a joint venture between Tata and University of California Investments, put in Rs 267.9 crore, according to Ola’s filings with the Registrar of Companies. The latest funding round takes the total Ola has raised so far to $1.5 billion.
Logistics Startup Fortigo Network (4TiGO) Raises $10 Mn from Existing Investors in Series A Round
Bengaluru-based logistics start-up Fortigo Network, The Truck Network, announced that it has secured $10 million in its Series A funding round. The funds were raised from existing investors, Infosys co-founder and former UIDAI Chairman Nandan Nilekani and Accel Partners. Fortigo Network is India’s only freight exchange platform enabled with live transaction and electronic payments. Fortigo Network also offers complementing business services and facilities for the Indian road transport sector to enable the users to improve their efficiency and profitability. Using the cloud-based platform of Fortigo Network, consignors, consignees, fleet owners, transport companies and agencies can exchange information, transact and manage their entire business.
IFC to Invest $10M in B2B firm Power2SME
IFC - International Finance Corporation, the private-sector investment arm of the World Bank, will invest up to $10 million (Rs 64 crore) in Gurgaon-based BEBB India Pvt Ltd, which runs Power2SME, an online buying hub for small and medium enterprises (SMEs). The company was founded by R Narayan in January 2012 with a seed capital of Rs 2 crore, and it started operations in July that year. In October 2012, the company raised a Series A round worth Rs 10 crore from Inventus Capital Partners and Kalaari Capital. After that, it raised $6 million (Rs 35.7 crore) in its Series B round of funding from existing investors Inventus and Kalaari, and from Accel Partners in April 2013.
MT Educare Raises Rs 110 Cr Debt from Xander Finance
MT Educare Ltd, popularly known as Mahesh Tutorials, has raised Rs110 crore in structured debt from non-banking financial company (NBFC) Xander Financial Pvt. Ltd, according to two people familiar with the transaction. The education services company will use the funds to refinance existing loans and fund expansion, said one of the two people cited above.
This is Xander Finance’s second investment in the education industry as the NBFC aims to expand its non-real estate lending portfolio.
Pharmaceutical Company Brinton Pharmaceuticals Ltd. Raises $4M from TATA Capital
Brinton Pharmaceuticals Ltd, a leading Indian pharmaceutical company, announced today that TATA Capital Healthcare fund has invested approximately $4 million in the Company, acquiring a minority stake. Brinton has been providing superior healthcare products and services for various therapeutic segments, to meet the unmet medical needs of millions of people.
The investment will support the firm’s entry into newer areas such Pediatric and Gynaecology segments and expand international operations from presently 8 to 32 countries.
Innovapptive Raises $1.5M Funding from Hyderabad Angels
US-based enterprise software startup Innovapptive Inc. has secured $1.5 million from Hyderabad Angels. Post-investment, Kishore Ganji from Hyderabad Angels will join Innovapptive’s Board of Directors. The startup intends to use the funds raised to scale its sales and marketing teams, accelerate product innovation and expand customer acquisition.
The current investment in Innovapptive, which is based in the US, is in line with its investment strategy to expand its portfolio globally. Hyderabad Angels transferred the funds to Innovapptive in December 2016.
Bangalore-based Zippserv Secures Rs 2.5 Cr in Seed Funding
Zippserv, India’s first real estate risk assessment firm announced that they have closed their Seed Fund round of Rs 2.5 Crore from undisclosed sources. Headquartered in Bengaluru, the company will be using these funds for their expansion beginning with Mumbai and Pun1e in the coming months. Zippserv’s tech enabled platform helps in verifying the veracity of ownership papers, validating legal wrangles, encroachment related issues, adherence to bye-laws and quality of construction. Zippserv today provides a one stop shop to alleviate any concern related to property purchase be it both old and new.
Fintech startup Balance Raises Rs 1.5 Cr from Zerodha’s Rainmatter Fund
Fintech startup Balance has raised Rs 1.5 crore from discount broking firm Zerodha, which has invested through its Rainmatter fund. Balance is set to launch an app designed to help individuals make smart savings and invest in low-risk mutual funds. The funds will be used mainly to expand the team from seven members at present, especially to hire designers and developers.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Peer-to-peer lending startup I-Lend has secured an undisclosed amount in a pre-series A round from seed and incubator firm 50K Ventures.
Golfication - by Khelfie, a Sports-Tech startup founded by IIT Roorkee and IIM Ahmedabad Alumni - Anirudh & Rishabh, has announced funding of its golf-focused application “Golfication”. The startup has raised undisclosed amount of funding.
Artificial intelligence-driven health content startup HealthMir has raised seed funding from angel investor and insurance industry veteran Nimit Panigrahi.
Yuvraj Singh-backed diagnostic and wellness startup Healthians has raised an undisclosed amount of funding in a bridge round from Japanese asset management firm Asuka Holdings.
Actor and fitness icon Milind Soman has made his first ever investment foray in the health and wellness sector, with Stayfit Enterprize Pvt Ltd – a natural health food startup that makes food products under the brand name Ontherun.
Cochin-based vehicle retailer Popular Vehicles & Services Pvt. Ltd has raised growth capital from private equity firm BanyanTree Capital.
REAPRA Ventures, a Japanese early-stage investor, has made its Indian debut by investing in Deyor Camps, a campsite aggregator. REAPRA Ventures along with Venture Catalysts and a few HNIs have made an undisclosed amount of funding in the firm, picking up a 5% stake in total.
Mumbai-based digital lending platform SMEcorner has raised a bridge round of funding from a Dutch government fund, according to a person close to the development.
Indonesia’s Go-Jek Raises $1.2B Led by Tencent at $3B Valuation
Indonesian ride hailing giant GO-JEK has reportedly raised $1.2 billion in its latest funding round led by Chinese Internet company Tencent. Post the investment, Go-Jek is now valued at $3 billion. The funding will be used to fuel its project of expanding across Southeast Asia, prominent destinations being Philippines, Thailand, Myanmar and Vietnam and to further compete with Uber and Grab’s presence in the Indonesian region. The startup further plans to improve its digital payments feature and e-wallet, GoPay.
MakeMyTrip to Raise $330M from Naspers, Ctrip & Others
Travel portal MakeMyTrip.com (MMT) is reportedly looking to raise $330 million from South African Internet and media conglomerate Naspers and Ctrip as well as other investors. The company will separately raise an additional $165 million through a private placement, under the terms of which it will issue about 4.5 million ordinary shares at $36 apiece. Morgan Stanley India is acting as sole placement agent for the transaction, it said, without disclosing the identity of the investors.
Ola Raises $104M More from Falcon Edge, Ratan Tata Fund
Bengaluru-based cab aggregator Olacabs has further raised $104.4 million (Rs 670 Cr) in Series I from US-based hedge fund Falcon Edge Capital Capital and Ratan Tata’s RNT Capital, as per recent regulatory filings with the Registrar of Companies. US hedge fund Falcon Edge invested Rs 402 crore while UC-RNT Fund, a joint venture between Tata and University of California Investments, put in Rs 267.9 crore, according to Ola’s filings with the Registrar of Companies. The latest funding round takes the total Ola has raised so far to $1.5 billion.
Logistics Startup Fortigo Network (4TiGO) Raises $10 Mn from Existing Investors in Series A Round
Bengaluru-based logistics start-up Fortigo Network, The Truck Network, announced that it has secured $10 million in its Series A funding round. The funds were raised from existing investors, Infosys co-founder and former UIDAI Chairman Nandan Nilekani and Accel Partners. Fortigo Network is India’s only freight exchange platform enabled with live transaction and electronic payments. Fortigo Network also offers complementing business services and facilities for the Indian road transport sector to enable the users to improve their efficiency and profitability. Using the cloud-based platform of Fortigo Network, consignors, consignees, fleet owners, transport companies and agencies can exchange information, transact and manage their entire business.
IFC to Invest $10M in B2B firm Power2SME
IFC - International Finance Corporation, the private-sector investment arm of the World Bank, will invest up to $10 million (Rs 64 crore) in Gurgaon-based BEBB India Pvt Ltd, which runs Power2SME, an online buying hub for small and medium enterprises (SMEs). The company was founded by R Narayan in January 2012 with a seed capital of Rs 2 crore, and it started operations in July that year. In October 2012, the company raised a Series A round worth Rs 10 crore from Inventus Capital Partners and Kalaari Capital. After that, it raised $6 million (Rs 35.7 crore) in its Series B round of funding from existing investors Inventus and Kalaari, and from Accel Partners in April 2013.
MT Educare Raises Rs 110 Cr Debt from Xander Finance
MT Educare Ltd, popularly known as Mahesh Tutorials, has raised Rs110 crore in structured debt from non-banking financial company (NBFC) Xander Financial Pvt. Ltd, according to two people familiar with the transaction. The education services company will use the funds to refinance existing loans and fund expansion, said one of the two people cited above.
This is Xander Finance’s second investment in the education industry as the NBFC aims to expand its non-real estate lending portfolio.
Pharmaceutical Company Brinton Pharmaceuticals Ltd. Raises $4M from TATA Capital
Brinton Pharmaceuticals Ltd, a leading Indian pharmaceutical company, announced today that TATA Capital Healthcare fund has invested approximately $4 million in the Company, acquiring a minority stake. Brinton has been providing superior healthcare products and services for various therapeutic segments, to meet the unmet medical needs of millions of people.
The investment will support the firm’s entry into newer areas such Pediatric and Gynaecology segments and expand international operations from presently 8 to 32 countries.
Innovapptive Raises $1.5M Funding from Hyderabad Angels
US-based enterprise software startup Innovapptive Inc. has secured $1.5 million from Hyderabad Angels. Post-investment, Kishore Ganji from Hyderabad Angels will join Innovapptive’s Board of Directors. The startup intends to use the funds raised to scale its sales and marketing teams, accelerate product innovation and expand customer acquisition.
The current investment in Innovapptive, which is based in the US, is in line with its investment strategy to expand its portfolio globally. Hyderabad Angels transferred the funds to Innovapptive in December 2016.
Bangalore-based Zippserv Secures Rs 2.5 Cr in Seed Funding
Zippserv, India’s first real estate risk assessment firm announced that they have closed their Seed Fund round of Rs 2.5 Crore from undisclosed sources. Headquartered in Bengaluru, the company will be using these funds for their expansion beginning with Mumbai and Pun1e in the coming months. Zippserv’s tech enabled platform helps in verifying the veracity of ownership papers, validating legal wrangles, encroachment related issues, adherence to bye-laws and quality of construction. Zippserv today provides a one stop shop to alleviate any concern related to property purchase be it both old and new.
Fintech startup Balance Raises Rs 1.5 Cr from Zerodha’s Rainmatter Fund
Fintech startup Balance has raised Rs 1.5 crore from discount broking firm Zerodha, which has invested through its Rainmatter fund. Balance is set to launch an app designed to help individuals make smart savings and invest in low-risk mutual funds. The funds will be used mainly to expand the team from seven members at present, especially to hire designers and developers.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Peer-to-peer lending startup I-Lend has secured an undisclosed amount in a pre-series A round from seed and incubator firm 50K Ventures.
Golfication - by Khelfie, a Sports-Tech startup founded by IIT Roorkee and IIM Ahmedabad Alumni - Anirudh & Rishabh, has announced funding of its golf-focused application “Golfication”. The startup has raised undisclosed amount of funding.
Artificial intelligence-driven health content startup HealthMir has raised seed funding from angel investor and insurance industry veteran Nimit Panigrahi.
Yuvraj Singh-backed diagnostic and wellness startup Healthians has raised an undisclosed amount of funding in a bridge round from Japanese asset management firm Asuka Holdings.
Actor and fitness icon Milind Soman has made his first ever investment foray in the health and wellness sector, with Stayfit Enterprize Pvt Ltd – a natural health food startup that makes food products under the brand name Ontherun.
Cochin-based vehicle retailer Popular Vehicles & Services Pvt. Ltd has raised growth capital from private equity firm BanyanTree Capital.
REAPRA Ventures, a Japanese early-stage investor, has made its Indian debut by investing in Deyor Camps, a campsite aggregator. REAPRA Ventures along with Venture Catalysts and a few HNIs have made an undisclosed amount of funding in the firm, picking up a 5% stake in total.
Mumbai-based digital lending platform SMEcorner has raised a bridge round of funding from a Dutch government fund, according to a person close to the development.
Advertisements