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.
Foodpanda Raises $435M from Naspers
South African Internet and media conglomerate Naspers has invested about $435 million in European food takeaway service Delivery Hero, earlier this month. As per recent reports Delivery Hero is now reportedly planning to pour in a major chunk of the investment in Indian business foodpanda India. In December 2016, Foodpanda was acquired by Berlin-based Delivery Hero, one of Europe’s biggest startups.
ItzCash Raises Funding of Rs. 800 Cr from Ebix, World’s Largest Insurance Exchange
US headquartered, Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today announced that it has invested approximately Rs. 800 crores in acquiring a 80% stake in India’s Leading payment solutions Exchange ItzCash. The Company is today recognized as a leader in the prepaid cards and bill payments space, besides being the only payments solutions player out of all its peers, who is profitable today, while having grown at an impressive CAGR of 35% over the last 3 years.
Delhivery Raises $30M from Fosun International
Logistics venture Delhivery has received $30 million (about Rs 200 crore) in funding from Chinese conglomerate Fosun International as part of a larger equity financing round that also saw the participation from bulge bracket buyout specialist The Carlyle Group.
The latest tranche is part of a larger round - estimated at between $100-$130 million -the fifth round raised by the Gurgaon-headquartered Delhivery. Avendus Capital acted as the exclusive financial advisor to the transaction.
Aye Finance Raises $8M from Impact Investor Blue Orchard
Aye Finance, a non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India, has raised $8 million from Blue Orchard, a leading global impact investment manager. The funds were raised through NCDs (non-convertible debentures) with a maturity period of five years.
Aye Finance is headquartered in Gurgaon and serves the credit worthy albeit the underserved MSME sector through a network of 39 branches. Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye has successfully made a ground level connect with India’s thriving MSME sector and offers customized and innovative financial products to match the sectors’ business needs.
Ummeed Housing Finance Raises $5.6M in Series B Funding Led by Lok Capital
Delhi-based affordable housing finance company, Ummeed Housing Finance today announced that it has raised Series B funding of $5.6 million from existing investors Lok Capital Growth Fund (Lok’s third fund) and Duane Park.
This is close on the heels of the first institutional funding of $3.5 million raised from Lok and Duane Park in October, 2016. The fresh round of investment will fuel the company’s expansion plans to new locations in North and Central India, lead to investments in SMAC (Social, Mobile, Analytics and Cloud) technologies and grow assets under management by six times in the next year.
IFC Pumps In $3 Mn In AI Focused Fund pi Ventures
International Finance Corporation (IFC), a part of the World Bank Group, is investing $3 million in pi Ventures’ maiden fund. Fun plans to utilise freshly infused fund for investing in companies leveraging technologies such as applied artificial intelligence (AI), machine learning and IoT across a range of sectors.
IFC is making investments through the ‘IFC Startup Catalyst programme’ which aims to build local ecosystems to drive innovation and entrepreneurship. IFC has both a direct investment practice and is also a Limited Partner (LP) to local PE and VC funds.
Food Delivery Startup BOX8 Raises Rs 7 Cr of Venture Debt from Trifecta Capital
BOX8, one of the India’s fastest growing food delivery start-ups has raised Rs 7 Cr in venture debt funding from Trifecta Capital, in addition to Rs 50 crores raised in series B round raised from IIFL Seed Ventures Fund & Mayfield.
Started by two IIT graduates Amit Raj and Anshul Gupta, BOX8 is a full stack online food delivery player that specializes in preparing and delivering delicious Indian meals across Mumbai, Pune & Bengaluru. It serves around 14000 meals everyday through a network of 65 plus stores.
Edtech Startup Genext Students Secures $580K In Pre-Series A Funding
Genext Students, hybrid tutoring platform has secured $ 580K in its pre-Series A funding round from undisclosed investors.
Genext Students plans to utilise freshly raised funds to fortify its team, strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai. With more than 4,000 tutorpreneurs and 75% M-O-M repeat customers, Genext Students have completed 20,000+ tutoring sessions in the last lease year across Pune and Mumbai. It claims to have over 1 million users of its digital study content.
Community Services Platform Zipgrid Raises $500K from JLL and 1Crowd
Leading international property consultancy JLL India today announced an investment into Zipgrid, India’s fastest-growing technology and knowledge services provider in the community management space. This marks the closure of Zipgrid’s pre Series-A round of $500K. It is also JLL’s third investment by its JLL Technology Ventures platform, a dedicated vertical for making investments into real estate technology firms. The round saw active participation from Zipgrid’s current investors represented by the 1Crowd platform.
Lahari Music Aims To Diversify Business; Invests In Two Startups
The family office of Lahari Music invested an undisclosed amount in two startups. With this move, Lahari Music, who are known as one of the South India’s record labels aims to diversify their businesses beyond music. Stakes acquired by the company are undisclosed. CreedCap Asia Advisors, a Boutique investment banking firm was the adviser for this transactions.
A Paris-based global dating application, Happn and a fintech platform for home buyers and developers, WhatsLoan bagged the investment. Co- founder of DCTex Furnishings, a home furnishings company, Nimish Arora also participated in the Happn deal.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Delhi-based Kaama Impex Pvt. Ltd, which sells craft beer under the brand Witlinger, has raised its pre-Series A round of funding from two high net-worth individuals (HNIs).
Delhi-based media venture Printline Media Pvt. Ltd has raised an undisclosed amount of funding from a few of the renowned industry names.
Chennai-based SAP consultancy firm Kaar Technologies India Pvt. Ltd has raised debt funding from a venture debt firm to ramp up its expansion plans in India and overseas.
Online fashion retailer, Yepme Shopping has reportedly secured an undisclosed amount of funding from listed garment exporter, Gokaldas Exports Ltd.
Foodpanda Raises $435M from Naspers
South African Internet and media conglomerate Naspers has invested about $435 million in European food takeaway service Delivery Hero, earlier this month. As per recent reports Delivery Hero is now reportedly planning to pour in a major chunk of the investment in Indian business foodpanda India. In December 2016, Foodpanda was acquired by Berlin-based Delivery Hero, one of Europe’s biggest startups.
ItzCash Raises Funding of Rs. 800 Cr from Ebix, World’s Largest Insurance Exchange
US headquartered, Ebix, Inc., a leading international supplier of On-Demand software and E-commerce services to the insurance, financial, e-governance and healthcare industries, today announced that it has invested approximately Rs. 800 crores in acquiring a 80% stake in India’s Leading payment solutions Exchange ItzCash. The Company is today recognized as a leader in the prepaid cards and bill payments space, besides being the only payments solutions player out of all its peers, who is profitable today, while having grown at an impressive CAGR of 35% over the last 3 years.
Delhivery Raises $30M from Fosun International
Logistics venture Delhivery has received $30 million (about Rs 200 crore) in funding from Chinese conglomerate Fosun International as part of a larger equity financing round that also saw the participation from bulge bracket buyout specialist The Carlyle Group.
The latest tranche is part of a larger round - estimated at between $100-$130 million -the fifth round raised by the Gurgaon-headquartered Delhivery. Avendus Capital acted as the exclusive financial advisor to the transaction.
Aye Finance Raises $8M from Impact Investor Blue Orchard
Aye Finance, a non-banking finance company (NBFC) committed to transforming micro and small enterprise financing in India, has raised $8 million from Blue Orchard, a leading global impact investment manager. The funds were raised through NCDs (non-convertible debentures) with a maturity period of five years.
Aye Finance is headquartered in Gurgaon and serves the credit worthy albeit the underserved MSME sector through a network of 39 branches. Founded by professional bankers Sanjay Sharma and Vikram Jetley in 2014, Aye has successfully made a ground level connect with India’s thriving MSME sector and offers customized and innovative financial products to match the sectors’ business needs.
Ummeed Housing Finance Raises $5.6M in Series B Funding Led by Lok Capital
Delhi-based affordable housing finance company, Ummeed Housing Finance today announced that it has raised Series B funding of $5.6 million from existing investors Lok Capital Growth Fund (Lok’s third fund) and Duane Park.
This is close on the heels of the first institutional funding of $3.5 million raised from Lok and Duane Park in October, 2016. The fresh round of investment will fuel the company’s expansion plans to new locations in North and Central India, lead to investments in SMAC (Social, Mobile, Analytics and Cloud) technologies and grow assets under management by six times in the next year.
IFC Pumps In $3 Mn In AI Focused Fund pi Ventures
International Finance Corporation (IFC), a part of the World Bank Group, is investing $3 million in pi Ventures’ maiden fund. Fun plans to utilise freshly infused fund for investing in companies leveraging technologies such as applied artificial intelligence (AI), machine learning and IoT across a range of sectors.
IFC is making investments through the ‘IFC Startup Catalyst programme’ which aims to build local ecosystems to drive innovation and entrepreneurship. IFC has both a direct investment practice and is also a Limited Partner (LP) to local PE and VC funds.
Food Delivery Startup BOX8 Raises Rs 7 Cr of Venture Debt from Trifecta Capital
BOX8, one of the India’s fastest growing food delivery start-ups has raised Rs 7 Cr in venture debt funding from Trifecta Capital, in addition to Rs 50 crores raised in series B round raised from IIFL Seed Ventures Fund & Mayfield.
Started by two IIT graduates Amit Raj and Anshul Gupta, BOX8 is a full stack online food delivery player that specializes in preparing and delivering delicious Indian meals across Mumbai, Pune & Bengaluru. It serves around 14000 meals everyday through a network of 65 plus stores.
Edtech Startup Genext Students Secures $580K In Pre-Series A Funding
Genext Students, hybrid tutoring platform has secured $ 580K in its pre-Series A funding round from undisclosed investors.
Genext Students plans to utilise freshly raised funds to fortify its team, strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai. With more than 4,000 tutorpreneurs and 75% M-O-M repeat customers, Genext Students have completed 20,000+ tutoring sessions in the last lease year across Pune and Mumbai. It claims to have over 1 million users of its digital study content.
Community Services Platform Zipgrid Raises $500K from JLL and 1Crowd
Leading international property consultancy JLL India today announced an investment into Zipgrid, India’s fastest-growing technology and knowledge services provider in the community management space. This marks the closure of Zipgrid’s pre Series-A round of $500K. It is also JLL’s third investment by its JLL Technology Ventures platform, a dedicated vertical for making investments into real estate technology firms. The round saw active participation from Zipgrid’s current investors represented by the 1Crowd platform.
Lahari Music Aims To Diversify Business; Invests In Two Startups
The family office of Lahari Music invested an undisclosed amount in two startups. With this move, Lahari Music, who are known as one of the South India’s record labels aims to diversify their businesses beyond music. Stakes acquired by the company are undisclosed. CreedCap Asia Advisors, a Boutique investment banking firm was the adviser for this transactions.
A Paris-based global dating application, Happn and a fintech platform for home buyers and developers, WhatsLoan bagged the investment. Co- founder of DCTex Furnishings, a home furnishings company, Nimish Arora also participated in the Happn deal.
Apart from these top 10 funding deals, here are a few startups which have also secured funding for their growth and expansion:
Delhi-based Kaama Impex Pvt. Ltd, which sells craft beer under the brand Witlinger, has raised its pre-Series A round of funding from two high net-worth individuals (HNIs).
Delhi-based media venture Printline Media Pvt. Ltd has raised an undisclosed amount of funding from a few of the renowned industry names.
Chennai-based SAP consultancy firm Kaar Technologies India Pvt. Ltd has raised debt funding from a venture debt firm to ramp up its expansion plans in India and overseas.
Online fashion retailer, Yepme Shopping has reportedly secured an undisclosed amount of funding from listed garment exporter, Gokaldas Exports Ltd.
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