Indian startups: Weekly funding round up 4th Week September

Fundraising data of indian startups in 4th week september 2019.
Fundraising Indian startups

This week 20 Indian startups raised funds, of which 19 received a total sum of about $128 million. Among them, Spinny raised the highest funding of $50 million followed by OfBusiness, which raised $34 million.

In 3rd week of September, Indian startups raised a total of $319.20 million of funding by 24 deals from investors.

  • Total Fundraising: In the 4th week of September Indian startups raised $128 million from Investors, by 20 deals.
  • Deal of the Week: Gurgaon-based startup Spinny raised $50 million funding in a Series B round from Accel, SAIF Partners, and Nandan Nilekani’s Bengaluru based Fundamentum.
  • In the News: Logistic startups Rivigo, join the UNICORN startups club this week raised $ $4.97 million the South Korea-based investment firm KB Global Platform Fund.

Below listed 20 Indian startups raised funding

1. Spinny: A tech-powered used car buying and selling platform provider Gurgaon-based startup Spinny raised $50 million funding in a Series B round from Accel, SAIF Partners, and Nandan Nilekani’s Bengaluru based Fundamentum. Spinny has raised a total of $68.2 million funding in 4 rounds from 7 investors including a seed round investors Indian Angel Network, Sandeep Tandon-founder FreeCharge, Blume Ventures, Kunal Shah-founder Cred.

In may-2019, Spinny raised $13.2M in Series A funding round from the same Investors Accel and SAIF Partners. Spinny, an Early Stage Venture founded by Mohit Gupta, Niraj Singh and Ramanshu Mahaur in 2015.

2. OfBusiness : Gurugram-based Fintech startup OfBusiness has raised Rs 2.4B ($35 million)  in Series D round funding, led by Norwest Venture Partners and the other two investors are Matrix Partners, Falcon Edge India.Earlier in June 2018 Startup OfBusiness raised $29 million from Creation Investments Capital Management, LLC, and Falcon Edge Capital in Series C round funding. Fintech startup OfBusiness raised a total of $83.1M funding over 5 rounds from 13 investors. Other led investors are Matrix Partners India, Zodius Capital, and Creation Investments Capital Management LLC. OfBusiness is a financing platform that offers smart financing to SMEs and founded in 2015 by Asish Mohapatra, Bhuvan Gupta, Chandranshu Sinha, Nitin Jain, Ruchi Kalra, Ruchi Kalra, Srinath Ramakkrushnan and Vasant Sridhar.

3. Darwinbox: Darwinbox is a technology company that provides cloud-based workforce management and analytics solutions for businesses that have raised $15 million in Series B round of funding led by Sequoia Capital India. Other investors who participated in the funding round are 3one4 Capital, Lightspeed India Partners, and Endiya Partners. Startup Darwinbox has raised a total of $19.7M funding in 3 rounds from 6 investors. StartupXseed Ventures and StartupXseed Ventures are other investors. A cloud-based end-to-end HR management solution provider, early-stage startup Darwinbox founded in 2015 by Chaitanya Peddi, Jayant Paleti, and Rohit Chennamaneni.

4. Onco: HealthTech startup, a pioneer internet aggregator platform for cancer care, raises $7 million in Series A round funding from Accel Partners, Chiratae Ventures (previously IDG Ventures India) and Dream Incubator. currently serves 10,000 new cancer patients every month and provides free consultation for children below 14 years. The HealthTech startup Onco has a network of over 1500 oncologists from India and the United States of America with 500+ treatment centers collaborated by the platform. The HealthTech startup Onco, founded by Ms. Rashie Jain and Dr. Amit Jotwani. 

Commenting on the Series A funding, Ms. Rashie Jain, CEO and Co-founder,, said, “We are solving a very critical problem, that of “information gap” that every cancer patient and their family experiences. There are 3 million cancer patients getting treated in India alone and around 7 million cancer patients across Middle-east, Africa and Asia where our services are available presently. A significant number of patients struggle to get the right treatment advice or find the right doctors/hospitals that could eventually affect their outcomes and presently there is no credible source of information that guides the patients to right treatment plan, doctors and hospitals and this creates a state of confusion and despair. With, we are focused on building this cancer ecosystem that patients can tap into anytime in their treatment journey.”

5. Rivigo: In this week Rivigo  joins the Indian UNICORN startups club by raising $4.97 million from the South Korea-based investment firm KB Global Platform Fund, in a Series E funding round. After this deal, the valuation of the company reaches approx $1.05 billion market cap. Earlier on Jul 10, 2019, startup Rivigo raised $65 million funds from SAIF Partners and Warburg Pincus, in series E funding round. Rivigo is a technology company that providing services and solutions in the Logistics sector, founded in 2014 by Deepak Garg and Gazal Kalra.

6. Blu Smart: Ahmedabad-based electric vehicle mobility service provider, Blu Smart Mobility has raised $3 million in an angel round of funding led by KA Enterprises. A total of 9 investors including Bollywood actress Deepika Padukone participate in the funding round. Earlier, on 17 August 2019 startup Raised Rs 150 million from an angel investor group JITO Angel Network.

7. Pharmarack: B2B SaaS-based HealthTech startup Pharmarack raised $3 million in Series-A round funding from IvyCap Ventures Patni Group and Unicorn India Ventures.  Pharmarack has raised a total of $3.7 million funding in 2 rounds from 4 investors. Healthcare StartUp Pharmarack founded in 2015 bAmit Backliwal, Bhavik Parmar and Pradyumn Singh providing solutions to pharma supply chain management combining Technology, Analytics, Logistics, Supply Chain and Financing.

08. Miko: Miko is an advanced robotics startup has raised $2.2 million led by WNS group CEO and NASSCOM’s Chairman Keshav R Murugesh. Miko has raised a total of $11.8M funding in 3 rounds from 5 investors. Other investors are YourNest Venture Capital, Chiratae Ventures, Brun Raschle, and Technology Venture Partners. Miko is Founded by 3 IIT Bombay post graduates in Jan 2015, Sneh Vaswani, Prashant Iyengar, and Chintan Raikar. Miko is an advanced robotics company focused on solving grave consumer problems by creating emotionally intelligent solutions.

9. Aquaconnect: Aquaconnect is a Chennai-based full-stack aquaculture technology startup founded in 2017 raised $1.1 million in its first fundraising round, a seed round of funding from investor Omnivore Partners and Hatch Blue Ltd. Startup Aquaconnect offers data-driven farm advisory solutions and market place solutions to Shrimp and Fish farmers. The company operates with its flagship product, an Artificial Intelligence farm advisor ‘FarmMOJO’. Aquaconnect presently works with nearly 3000 farmers of Andhra, Tamil Nadu, and Gujarat.

10. WhistleDrive: A Hyderabad-based startup WhistleDrive, a transportation technology company that offers employee transportation solutions and Driver On-Demand solution raised $10 million in series B round funding from Colosseum Group. An early-stage startups WhistleDrive founded by  Rakesh Munnanooru in 2016. It provides Transportation As A Service (TaaS) to Corporates by End to End Technology and Ground Operations.WhistleDrive has raised a total of $10.8 million funding in 3 rounds from the same investor Colosseum Group. Presently WhistleDrive operates from Hyderabad, Chennai, and Bengaluru and has 32 corporate clients, with 3000 trips per day to transport more than 15,000 employees to their destination.

11. Agatsa: A Noida-based healthtech startup Agatsa has raised $1 million in venture round funding from the Indian Angel Network (IAN) and the Technology Development Board (TDB). SanketLife is the flagship product of the healthtech startup, the company claims that it is the world’s first and only portable + Leadless 12 Lead wireless ECG Monitor. Which is capable of taking the single lead, 6-lead and 12-lead medical-grade ECG.

12. Terraview: An image processing startup raised Rs 58 million ($0.82 million) in Series A round of funding from Binny Bansal, Kalyan Krishnamurthy-CEO Flipkart, Sujeet Kumar-Co-founder Udaan, Tanglin Venture Partners, Ankit Nagori-founder CureFit and Abhishek Sharma- HR Head Times Internet. Terraview is a SaaS-based global image processing startup, focusing on real-time vineyard management, the platform uses advanced image processing, machine learning and augmented reality.

13. Digital India Payments: A Mumbai-based Fintech startup, Digital India Payments is a financial technology company raised Rs 5.75 crore ($0.8 million) from US-based investment group IC1101Digital India Payments is a transaction service provider for all financial requirements across India involving Banking, Mobile, E-Commerce, ATM, Healthcare, Travel, etc.

14. Financepeer: Financepeer is an AI-based peer to peer lending platform that has raised Rs 50 million($0.71million) in an Angel round of funding from Ravi Sanghvi, Manish Shah-co-founder Peerwell and PitchRight Venture. Financepeer is a peer to peer lending platform connecting individual borrowers to lenders digitally.

15. AdvaRisk: A Mumbai -based B2B fraud detection Fintech startups AdvaRisk raised $0.7 million in the first fundraising round, a Seed round led by Sprout Venture Partners and other participants are SEA Fund and

ls, including industry experts Sharad Bhatia and Varadarajan Srinivasan.

16. Finception: Finception- A Bengaluru-based stock market data and news analysis and reporting platform, raised $0.56 million in Seed round of funding from Rainmatter, an incubator fund of stock market discount broker firm ZErodha to support early-stage Fintech startups. Fintech startup Finception founded in 2018 by three IIM Ahmedabad graduates Bhanu Harish Gurram, Shrehith Karkera, Pawan Kumar Rai, and an IIT Delhi graduate, Lokesh Gurram.

17. Log 9 Spill Containment: Startup has Raised Rs 4 crore ($0.56 million) in a Seed round of funding from Angel investor Omkar Ghaisas and Renjit Shinto. Log 9 Spill Containment is a subsidiary of Bengaluru-based Log 9 Materials is a nano-materials manufacturing and RnD startup.

18. Zesty Kitchen: Cloud kitchen startup, Zesty Kitchen raised Rs 3 crore($0.25 million) in an angel round of funding from a group of 9 Angel investors includes CFO IndusInd BankPaul Abraham. FoodTech startup founded by Aditya Singh and Sambit Sathapathy, Zesty Kitchen is a cloud kitchen focussed on regional cuisines.

19. Ketofy: Keto Food products manufacturing FoodTech startups Ketofy has raised $25,000 in Seed round of funding from a group of Angel investors including Alok Mittal, ex-MD, Canaan Partners; Rohit Chanana, Founder, Sarcha Advisory; and Tejinderpal Miglani, Co-founder, India Bulls, among others. Flagship products include AdvaSmart- A due diligence & monitoring platform, AdvaNPA- Maximizing recovery and CorpData- Real-time access to structured financial information of companies.

Undisclosed amount of funding deal

20. SpeakIn

A Noida-based startup founded by Deepshikha Kumar in 2018 has raised an undisclosed amount of funding from Homage Ventures, a partner firm with former president & whole-time director of IndiGo and presently CEO South Asia OYO, Aditya Ghosh. SpeakIn is an AI-enabled tech platform, has a network of speakers and thought leaders, aka. experts. The company claims that it has a network of 15,000 experts. SpeakIn is a platform to find the Keynote Speakers, Industry Experts, and Leadership Coaches.

Major deal in financial sector:

Sachin Bansal, Flipkart co-founder has invested Rs 739 crore in NBFC Chaitanya Rural Intermediation Development Services (CRIDS), and he now becomes CEO in the fintech company. CRIDS founded by Anand Rao and Samit Shetty, the firm provides micro financing to the under-banked population and small businesses.


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