In yet another edition of Funding Galore, Indian Start-up Funding of the week. One of the major funding round this week in Indian startup ecosystem was raised by Avi Networks. It is the California- based application delivery platform and it raised $60 million in Series D financing from Cisco Investment. Other companies include were Greylock Partners, Lightspeed Venture Partners, Menlo Ventures and DAG Ventures in an oversubscribed round.
The startup is committed to enduring its efforts to deliver elasticity, intellect, and multi-cloud competences to enterprises.
Indian Startup Funding of the week saw 15 startups raising around $80.2 million of funding. Along with funding 2 startup acquisitions also happened.
- 1 Let’s look at the companies in the limelight of funding week:
- 1.1 ClearDekho: it’s a Delhi based eyewear brand
- 1.2 DigiConnectt: Bengaluru-based analytics and AI Company
- 1.3 Crowdera: California and India based fintech startup
- 1.4 Hey Deedee: All-women last mile logistics services company.
- 1.5 Inntot Technologies: Software Defined Radio (SDR) startup.
- 1.6 Paytm Money: Online wallet
- 1.7 Locus: Bengaluru based logistics startup
- 1.8 Orbo: Mumbai-based computer vision and AI imaging startup
- 1.9 Zoctr: Healthtech startup
- 1.10 Kashmir Box Online handicrafts and handlooms marketplace.
- 1.11 Meesho: Social commerce startup
- 1.12 Sports Flashes: New Delhi Based startup.
- 1.13 Reculta: Delhi based HR Tech startup
- 1.14 Amazon Retail India
Let’s look at the companies in the limelight of funding week:
ClearDekho: it’s a Delhi based eyewear brand
- Raised $297.7K (INR 2 Cr) in a pre-Series
- A round was led by investors -Samyakth Capital, Windrose Capital, Krishnan Akhileswaran of Apollo Hospitals, and Yogesh Chaudhary
- ClearDekho aims to utilize the funding for expanding their business.
- The company plans to open 100 stores before December 2018 and make 500 stores operative all over the country in the time span of next 2 years.
DigiConnectt: Bengaluru-based analytics and AI Company
- Raised $125K in a Seed funding round from the US-based transport management solutions leader Aspire Logistics LLC
- DigiConnectt will use the funds for product improvement, strengthening the team and to merge its research proficiencies
Crowdera: California and India based fintech startup
- Raised an undisclosed amount of funding as a part of its current Pre-Series funding round.
- Anil Advani, the Silicon Valley startup attorney, Pramod Jain, Amrendra Reddy and Manish Satnaliwala, angel investors from Singapore and Anand Daga, SME IPO specialist from Central India were the prominent investors
- The startup plans to invest the funding to drive the initial stage growth.
Hey Deedee: All-women last mile logistics services company.
- It raised pre-seed funding of $ 500K from Metaform Ventures LLC of an undisclosed sum of valuation.
- The startup plans to use the funds for expansion of footprint.
- The startup aims to work in 10 cities across the country compared to its presence in 4 cities within this year.
Inntot Technologies: Software Defined Radio (SDR) startup.
- Raised an undisclosed amount of funding in a seed funding round led by Unicorn Ventures.
- Will use the funds to acquire hi-tech testing equipment and boost marketing.
Paytm Money: Online wallet
- One97 Communications, the Paytm’s parent company invested $1.3 Mn (INR 9 Cr) in its wealth management unit Paytm Money.
- Paytm Money is committed to increasing the customer base of the wealth-management.
Locus: Bengaluru based logistics startup
- Raised $4 Mn in a pre-Series B.
- The round was led by Rocketship.vc, Recruit Strategic Partners, pi Ventures, and Hemendra Kothari of DSP Group.
- Plans to use the funds to build intellectual property (IP) and global expansion.
Orbo: Mumbai-based computer vision and AI imaging startup
- Received an undisclosed amount of funding from the London-based Founders Factory in a Seed+ round.
- Founders Factory will form a modified plan to provision Orbo.
- This is Orbo’s second fundraising since November 2017.
Zoctr: Healthtech startup
- Raised an undisclosed amount of Pre-Series
- Fundings from NB Ventures, Dubai and a host of other angel investors including Udaipur Angel Network etc.
- Plans to invest the funds to build profound technology and domain expertise.
- Zoctr is on its path to build the largest Pan India database of qualified and registered working class.
Kashmir Box Online handicrafts and handlooms marketplace.
- Raised an undisclosed amount of funding.
- Funds raised from Bhairavi Jani (SCA Group director), Alok Divatia (LG India ex-marketing head), Namrata Koul (Deutsche Bank ex-MD ), Sohail Hashemi (Amazon US software development manager), and Kashmir-based handicraft exporter Aijaz Saleem.
- Aims to make an effort in digital marketing and expand its reach to include 30K artisans & 6K farmers.
Meesho: Social commerce startup
- Raised $11.5 Mn (INR 77 Cr) in a Series B funding
- The round was led by Sequoia Capital.
- Plans to use the funds to upgrade its tech platform and to strengthen its employee base across critical functions
Sports Flashes: New Delhi Based startup.
- Raised $1 Mn (INR 6.7 Cr) in a Pre-Series.
- Funding from SRI Capital.
- Aims to become one of the major sports content platforms in the country.
Reculta: Delhi based HR Tech startup
- Received seed funding from CIIE Initiatives.
- Plans to use the funds to expand its sales & marketing efforts within & outside of India
- The startup is building a campus hiring marketplace.
Amazon Retail India
- Invested $1.5 Mn (INR 10.5 Cr) in its Indian food retail arm, Amazon Retail India.
- Amazon Retail has now launched its pilot services in Pune.
- It will now sell locally made and packaged food to consumers directly.
This was all about this week of Funding Galore. We will bring you all the latest update of the next funding week, stay connected.