Groww Startup Financing of the Week [09- 14 July 2018]

Groww – Groww, from Bengaluru, raised $ 1.6 million in a series of pre-A Series financings from Insignia Ventures Partners, Lightbridge Partners and Kairos with the participation of existing investors Mukesh Bansal and Ankit Nagori. The start-up plans to use the funding to strengthen its technology and build scalable growth channels.

IndiaLends – IndiaLends, a Delhi-based consumer finance start-up, raised $ 10 million. The investment was led by the badet management firm ACPI Investment Managers, headquartered in London, and Ganesh Ventures, a venture capital firm focused on India. Amex Ventures, along with other existing investors in the business, such as DSG Consumer Partners and AdvantEdge Partners, also participated in the last round of financing. The start-up will launch new products such as an application-based credit line and point-of-sale loans to meet the needs of our customers.

Boodmo – Gururgram online market for Boodmo auto spare parts its share capital with an additional value of $ 729.6K (INR 5 Cr) investment through the intermediary of the company. an undisclosed investor. The start-up will expand its sorting centers nationwide and strengthen its existing operations.

5th Vital : Bangalore-based 5th Vital Health Services start-up raised $ 250K from Brand Capital.

Zippserv – The Bengaluru Zippserv Real Estate Risk Assessment Platform raised $ 440K (INR 3 Cr) Pre-Series A from its existing investors, including Info Edge (India) Ltd. ZippServ will use the new funds to help expand their offerings in Mumbai and Pune in the coming months.

Genext Students – Mumbai-based O2O education solutions providing the Genext platform Students raised $ 250K in a round of funding from a clutch of undisclosed investors. The start-up will use the funds raised to fuel its expansion plans in terms of services and markets, while making its technology backbone more robust. In terms of technological integration, it will expand the role of AI and other technological tools that will be useful for tutors in order to achieve much better and measured learning outcomes. .

Magic Crate – Magic Crate, Bengaluru's startup undisclosed amount of money in its third round of financing led by Fireside Ventures and 3one4 Capital. Magic Crate will use the funds to develop a new range of products, market the brand and develop the sales channel.

SmartVizX – SmartVizX, Noida-based virtual reality start-up, raised $ 1.45M (INR 10 Cr) in a pre-series A financing round led by YourNest Venture Capital with participation from the IAN Fund of the Indian Angel Network. The funds will be used to strengthen the product team and build product capabilities, as well as international expansion.

Shop101 – The Shop101 e-commerce platform raised $ 5 million in a financing phase led by Stellaris Venture Partners. Vy Capital, TaxiForSure co-founder Raghunandan G, and Lispace co-founder Ramakant Sharma also took part in the tour de table. The start-up will use the funds to strengthen its leadership and product team, expand the supplier network and improve the technology platform.

Spanugo – Spanugo, based in Chennai, raised an undisclosed amount from Ideaspring Capital and Fabric with strategic angel investors. The funding will be used for product development, commercialization and expansion of the technical team in India.

McXtra – McXtra, a Mumbai-based digital insurance start-up, raised $ 1.3 million in financing prior to Series A from a handful of twelve investors without name. The start-up will use the funds to expand its technology platform and reach more users.

Headout -US and the Indianout-based spontaneous experiences provider raised $ 10 million in a Nexus Venture Partners Series A financing round. The funds will be used to launch services in 100 cities by 2019, expanding the team worldwide and investing in technology to enable last-minute wireless reservations for local experiences Wishberry – Crowdfunding Mumbai The platform raised $ 1.4 million as part of a series of funding from Reliance Entertainment and 3one4 Capital. The funding will be used to launch a crowdfunding film studio for a low-budget cinema. In addition, the firm will use funds to expand its team, particularly to hire experienced talent in the film production and distribution space.

19th Mile – The ground based AI based startup on Gurugram 19th Mile has raised a series of $ 180,000 HNI angel investments. The start-up will use the funds to strengthen its product, strengthen its technology team and launch awareness initiatives in India and other international markets.

iNICU – iNICU Neo Natal Intensive Care Unit) raised an undisclosed amount of money from Venture Catalysts. Investors included Vishal Jhunjhunwala¸ Vikas Khandelwal, Dipan Dalal and Vikas Kapoor among others. The startup will use the funding to enter the international healthcare market to meet the global need with its solution.

MEngage – Jaipur-based Application Plant Platform MEngage lifted the seed of $ 175K from Angels – Siddharth Agarwal (President, Silk Asia and President, TiE Rajasthan ), Mahaveer Sharma (President, RAIN), Amit Singal (Founder and CEO, Startup Buddy), Anil Gupta of Doha, Sanjay Harpavat, Dr. Bharat Mohan Raturi, Dr. Dhananjay Mangal and

Indian Start-up Acquisitions of the week

• OYO Hotels acquires AblePlus, IoT start-up based in Mumbai. With this acquisition, OYO aims to create a sustainable ecosystem powered by technology and artificial intelligence to manage hotels and badets. Tata Motors Ltd acquired a 26% stake in the TruckEasy logistics start-up through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors. With the help of the acquisition, Tata aims to gain a foothold in mobility services to be ready for the future.
• Start of health NirogStreet acquired Brahm Ayurveda, a platform of Ayurvedic doctors. After the acquisition, Dr. Abhishek Gupta will join NirogStreet as a co-founder and Chief Marketing Officer.
• Accenture acquired Kogentix, a company that provides Big Data and AI solutions. Kogentix aims to leverage the acquisition with a greater share of this market and longer-term career and growth opportunities. Following the acquisition, Accenture expects to be better positioned to help customers realize the value of open source badytics platforms and integrate new information into the heart of their business.

Other Developments of the Week

• Walmart announced its intention to acquire technologies to strengthen its technology unit, Walmart Labs. Walmart Labs is primarily looking for acquisitions and startups of niche technology products.
• Inventus Capital Partners, an early-stage venture capital firm based in Bengaluru, has closed its first $ 29 million (INR 200 Cr) fund for successful startups in business-to-business and business-to-business spaces. -consumer. The fund's target was $ 47.31 million (325RNR) and the company capped at $ 58.23 million (INR 400 Cr).
• Livspace, interior decoration service provider, announced its intention to raise $ 40 million private equity firm TPG. The funding is expected to be an accelerator for Livspace since the company plans to open offline stores in major Indian cities.
• Global Venture Capital Lightspeed Venture Partners closed its second fund in India with a $ 175 million corpus. The total capital of Lightspeed under management in the country amounts to $ 310 Mn.
• Brun Health based Delhi and Ajna-based Kerala won the Singularity University Global Impact Challenge (GIC) India 2018, held in Trivandrum by the Kerala Startup Mission (KSUM) and the Silicon Valley-based think tank Singularity University (SU ). Start-ups will go to Silicon Valley to participate in a 10-week SU business incubation program, all paid and transforming expenses.
• Google launched Launchpad Accelerator in India and has launched applications for its next batch for Indian startups use machine learning (ML) and artificial intelligence (AI) to build solutions to urgent problems in the country. Start-ups will benefit from Google mentoring and $ 100,000 Google credits.
• InnoVen Capital, a specialized credit and risk credit company, raised $ 60.9 million (418 Cr Cr) which it will invest in start-ups. It has already disbursed $ 43.7 million (INR 300 Cr) and will invest the remaining capital in the next two months.
• Kabir Misra, managing partner of Softbank Capital, announced plans to launch its own start-up fund with a $ 250 million corpus. Following the launch, Kabir Misra will make early to mid-term investments in the US, India and Southeast Asia. The seed fund will count Softbank Group as the main sponsor.
• Sashi Reddi, managing partner of venture capital firm SRI Capital, has launched a $ 100 million venture capital fund called SRI Capital Fund-I. It is a registered investment vehicle in Delaware that will focus on startups working in the emerging areas of advanced technology.
• Mobycy, a Gurugram-based bicycle sharing platform, announced plans to raise $ 3bn from Venture Catalysts, IDG Ventures and Orios Venture Partners. The start-up will use funds to make e-bikes and e-scooters on its platform
• The Singapore-based public investment company, Temasek Holdings, has announced its intention to strengthen its Indian commitments through the through sectoral investment platforms. The focus of the company will be subdivided into many other areas such as healthcare services, food, QSR, financial services, and digital payments. Investments across platforms will be in the long term, namely 10-15 years. the next edition of Galore Financing: Indian startup funding of the week!

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