Weekly Funding Roundup: Indian startups raised $319.20M
In 3rd week of September, Indian startups raised a total of $319.20 million of funding by 24 deals from investors.
- Fintech startup Policybazaar raised funding of $130-$150 million, which is a top deal of the week.
- Discount brokerage startup Upstox raised $25 million from investors, which is the second big deal of the week.
- A Kolkata-based Wow! Momo fast-food restaurant chain, which specializes in momos raised $23 million in Series B round funding
Weekly Funding roundup: Indian startups funding deals of the week
1. PolicyBazaar: In a report by Entrackr, Tencent has invested around $130-150 million in Gurugram-based finTech startup PolicyBazaar at a valuation of $1.5 billion. Before this deal, Policybazaar already secured $346.6M of funding in 7 rounds from 13 investors. By this deal, Tencent will acquire a 7-10% stack in the finTech startup.
Tencent already invested in the top 5 Indian unicorn startups including BYJU’s, Dream11, Hike, Swiggy, and Ola. Tencent’s continues approach to investing in the Indian finTech startups like KhataBook and Policybazaar, and also invested $35 million in Bengaluru-based digital banking company NiYO.
2. Upstox: Mumbai-based online stock trading platform provider and Discount brokerage firm Upstox raised $35 million in a second venture round funding, from New York-based investor Tiger Global. Upstox started its journey in 2010 by low-cost brokerage firms in India, founded by Raghu Kumar and Shrinivas Viswanath.
3. Wow! Momo: A Kolkata-based fast-food restaurant chain, which specializes in momos raised $23 million in Series B round funding led Tiger Global Management at an estimated valuation of $120 million.
Wow! Momo has raised a total of $30.3M funding in 4 rounds from 5 investors including Seed round investor Nitin Singhal, Indian Angel Network, Lighthouse Funds, and William Bissell. StartUp founded in 2008 by Binod Kumar Homagai, Sagar Daryani and Shah Miftaur Rahman.
4. Groww: Online investment startup Groww has raised $21.4 million in Series B funding round led by US-based finTech fund Ribbit Capital. Groww has raised a total of $29.2M funding in 4 rounds from 12 investors including Sequoia Capital India, Kauffman Fellows, Kairos, Propel Venture Partners, and Kauffman Fellows Fund.
Y Combinator and Ribbit Capital are the most recent investors. Groww claims that the company has 20 Lac+ users and has a partnership with 35+ Fund houses. Groww platform provides services of mutual funds, SIP, and everything from personal finance.
5. Square Yards: A Gurgaon-based online real estate brokerage platform Square Yards raised $20 million of equity capital from Bennett Coleman & Co Limited (BCCL), Genkai Capital, Steve Melhuish, and Jani Rautiainen, among others. Square Yards has raised a total of $73M funding in 5 rounds from 10 investors.
Gurgaon-based online real estate brokerage platform Square Yards founded by Kanika Gupta and Tanuj Shori in 2013, now operating in 10 countries and 30 cities globally.
Also read: 10 TOP FUNDED INDIAN STARTUPS
6. Generico: Healthtech startups Generico, a pharmacy retail chain of Generic medicines raised $14 million in Series A funding round led by investor Lightbox. Other existing investor Tomorrow Capital and Whiteboard Capital also participated in the funding round. Online generic Healthtech startups Generico founded by Siddharth Gadia in 2017.
Healthtech startups Generico has raised a total of $14M funding in 2 rounds from 4 investors. Startup footprinting in the largest Indian pharmacy market with innovative technology, and presently startup is operating from 24 stores across Mumbai and plan to expand its business across major cities of India.
7. Aye Finance: A Gurugram-based digital lending company Aye Finance raised Rs 80 Cr ($11.2 Mn) by dept funding from undisclosed investors. DCB BANK, responsAbility, Falcon Edge Capital, BlueOrchard Finance S A, Triple Jump, MicroVest, CapitalG, Northern Arc are other investors in the fintech startup Aye Finance. Fintech startup raised a total of $141.7M funding 16 rounds from 18 investors.
8. Helloworld: Nestaway invested $10 million in a corporate round of funding towards its co-living and student living entity, Hello World.
9. Cred: A Bengaluru-based credit card rewards app Cred, a fintech startup raised $9.5 Mn in Series B funding round from US-based venture capital fund General Catalyst. Credit card rewards app Cred founded by, Kunal Shah and Varun Krishnan in 2018. The earlier startup raised a total of $175.5M funding in 3 rounds from 20 investors.
10.Digi-Prex: A Digital pharmacy startup for Chronic Disease Management raised $5.5 million in a seed funding round from Khosla Ventures, Vedanta Capital, Y Combinator, Quiet Capital, SV Angel, and Justin Mateen. HealthTech Startup founded by Samarth Sindhi in February 2019.
Earlier in July 2019, healthtech startup Digi-Prex raised $150K in a Seed funding round from Y Combinator. Digi-Prex is a chronic disease management platform that provides patients with a holistic solution to assist in the management of their chronic health conditions.
Also Read: Startups Story PARKR- A CAR PARKING STARTUP
11. PlusPin: Hyderabad-based Healthtech startup PlusPin raised Rs 5.3 billion in a Seed funding round led by Indian Angel Network(IAN). Other Angel investors who participated in the funding round are former Google India head Rajan Anandan, Sanjay Jesrani, Dr. Vinay Tulla and Dr. Kiran Peddi. Munjal Group, Ambicare Clinics, Axilor Ventures are investors in the healthtech startup PlusPIn.
PlusPin healthtech startup is founded in 2016 by Gopal Krishna Panigrahy and Santosh Kumar Panda. PlusPin pharmacy platform provides an ideal solution for independent retail pharmacies of any size. PlusPin’s mission is to create an independent digital network of Pharmacies, diagnostic centers, clinics, and other healthcare providers.
12. Nestaway: A Bangalore-based home rental network has raised $5 million in Series D funding round from Goldman Sachs. NestAway has raised a total of $109.1 million funding in 8 rounds from 9 investors including Goldman Sachs, Chiratae Ventures, Tiger Global Management, Sujeet Kumar, UC-RNT Fund and Epiq Capital.
Nestaway help their customers to find, book, and move-in to a rental home of choice across Indian cities.
13. Meddo: Healthtech startup Meddo raised $3 million in a Seed round of funding led by SRI Capital. Other investors who participated in the funding round include GrowX Ventures, LetsVenture, Jitendra Gupta, and Venture Gurukool.
Meddo Partners with top doctors and provide complete one-stop care to patients. It facilitates all health needs under the same rooftop doctor consultations, nutrition, lifestyle, and lab testing. Patients also can access their health records online by downloading the App.
14. SlicePay: A Bengaluru-based finTech startup SlicePay, raised $2.8 million debt from Japan-based Gunosy Capital, and Pegasus Wings Group. FinTech startup SlicePay founded in 2016 by Deepak Malhotra and Rajan Bajaj.
SlicePay has raised a total of $20.3M funding in 4 rounds from 7 investors. The startup’s flagship product is slice card that provides seamless credit payments.
15.ZoomCar India: Bengaluru-based self-driving car platform Zoomcar India received Rs 14.14 Cr ($1.9 Mn) equity infusion from US-based parent, Zoomcar Inc. Startup ZoomCar India operates in all main cities of India including Bangalore, Pune, Mumbai, Chennai, Hyderabad, Delhi NCR, Kolkata, Chandigarh, Ahmedabad, Vizag, Jaipur, and Mysore.
The company claims to have a 70% market share with over 6500 cars, catering to over 3000+ rides every day and had served services to more than 48,00,000 customers.
16. Spacejoy: A Bengaluru-based home gallery design startup Spacejoy raised $1 million from Accel Partners in Seed round of funding. Startup Spacejoy founded by Vinay Indresh and Arnab Saharoy, former Flipkart and Myntra executives respectively. The Startup offers an interactive 3D platform for users to design their own homes.
17. B:Live: A Goa-based an electric vehicle tourism startup B:Live in a corporate funding round raised Rs 40 million($0.6M) from DNA Entertainment Networks Pvt. Ltd. Samarth Kholkar and Sandeep Mukherjee started an electric vehicle tourism startup use these funds to build unique travel experiences led by innovation and technology.
Undisclosed amount deals of this week
A total of 7 deals remained the undisclosed amount of funding.
18.Kaarya Naturals: Health food startup Kaarya Naturals funded by Paytm’s Vijay Shekhar Sharma supported investment firm Roots Ventures. Kaarya Naturals, a Mumbai-based startup markets its range of protein and healthy bars, under the Eighty20 brand.
19.AttainU: A Bengaluru-based edtech startup AttainU raised an undisclosed amount of funding from multiple investors in an Angel round of funding. The Angel investors who participated in the funding round include Shailesh Rao ex-Google India Head, Nikhil Rungta ex-Intuit India Head, Anil Gelra, founder, SnapMint and Manish Kumar, founder, KredX and LetsVenture. Edtech startup provides live-online interactive Full-Stack Web Development Courses for Premium Software Engineering Career.
20. Syntizen: The global payments technology company Mastercard and biometric solutions provider ACPL invested an undisclosed amount in Hyderabad-based Fintech startup Syntizen in Pre-Series A funding. Access Computech is also an early investor in the startup.
Syntizen is a B2B digital identity-centric product startup, founded in 2014 by Siddharth Kukatlapalli, Vamsi Kotte and Dinesh Dasu. Syntizen is a Startup India registered Startup, incubated at India’s T-Hub which is India’s biggest Government backed Startup incubator, member of India Stack and a part of NASSCOM 10K Startups.
21. GigIndia: Pune-based Freelance marketplace GigIndia raised an undisclosed amount in a strategic round of funding from a clutch of angel investor including S Ramadorai, former Tata Consultancy Services CEO; Kiran Deshpande, former CEO of Tech Mahindra; Ravi Nigam, ex MD and co-founder of Tasty Bite Eatables; and Shashank Deshpande, co-founder of Clarice Technologies. Startup GigIndia founded by Aditya Shirole, Sahil Sharma in 2017.
22. Blowhorn: A Bengaluru-based logistics startup Blowhorn raised an undisclosed amount in Series B funding round from Venture Catalysts, James Lee Sorenson and the Japanese VC firm Dream Incubator. Michael & Susan Dell Foundation and Chiratae Ventures invested $3 million in Series A round of funding in the logistics startup Blowhorn in March 2017. Logistics Startup Blowhorn raised a total of $3.8M funding in 3 rounds from 7 investors. Unitus Ventures and Draper Associates are other investors in the startup.
23. Zivame: Kapil Karekar and Richa Kar founded Bengaluru-based online lingerie retailer Zivame raised equity funding from existing investors Zodius Capital and Avendus Capital. Zivame.com has raised a total of $60.3M funding in 6 rounds from 9 investors. The Allana Group, IDG Ventures, Kalaari Capital, Unilazer Ventures, Chiratae Ventures, Ronnie Screwvala are Khazanah Nasional other investors.
24. iKure: Kolkata based iKure Techsoft raised an undisclosed amount of funding from Inflection Point Ventures (IPV). Sujay Santra founded social enterprise iKure in 2010 to meets primary health care and prevention needs through a unique combination of the health outreach initiative, skills development, and technology intervention.