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Startups funding roundup - India (July 06 to July 13)

Jul 14, 2018 by Zahir Zakaria
Startups funding roundup - India (July 06 to July 13)

The Passage brings you a weekly digest on all the venture capital financing, fundraising, investments and acquisitions in India.

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Data source: Tracxn, Graphics: The Passage team.

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Data source: Tracxn, Graphics: The Passage team.

On July 06, Silvan Innovation Labs, a Bangalore based startup providing home automation solutions using IoT technology, bagged Seed funds worth 0.65 million from Infuse Ventures. The company hopes to increase its retail presence using the funds.

On July 08, Indian fintech startup IndiaLends bagged Series B investment totalling USD 10 million from ACPI Investments, Ganesh Ventures, American Express Ventures, Deepak Shahdadpuri and AdvantEdge Partners. The New Delhi-based company plans to use the funds to expand its operations to India’s tier II and III cities and rollout line-of-credit and small loan services for buying gadgets and home appliances.

On July 09, Bengaluru-based online investment startup, Groww (groww.in) announced that is raised USD 1.6 million in Seed funding from Insignia and Kairos. Founded in April 2017 by former Flipkart staffers, Lalit Keshre, Harsh Jain, Neeraj Singh and Ishan Bansal, the infant organisation hopes to use the funds to step up their technology and launch more financial products.

On the same day SynThera Biomedical, a healthcare startup raised an undisclosed amount as Seed investment from 1Crowd and Birac. The Pune-based organisation strives to become India’s first bioactive glass and ceramic producer for the healthcare sector. The investment will enable the organisation to launch their first bone graft substitute in the market, founder Nilay Lakhkar said.

On July 10, Gurgaon-based auto parts trading platform, Boodmo secured USD 0.73 million from undisclosed investors. Boodmo, founded in 2016-17 by Ukranian entrepreneurs, Yevgen Sokolnikov and Oleksandr Danylenko, has attracted INR 10 crores (USD1.4 million) of FDI, till date, a Business Standard report says.

On the same day another Gurgaon-based fintech startup, Avenue Growth bagged USD 0.44 million pre-Series A funds from Infuse Ventures. Founded in 2017 by Rachit Mathur and Dilkash Rai Malhotra, Avenue Growth connects brands with freelance sales specialists. The funds would be used to strengthen their industry verticals and develop a larger pool of freelancers, Mathur said.

The day also saw Delhi-based healthcare startup iNICU raise an undisclosed corpus as Seed funds from Venture Catalysts. Founded in 2016, the company extends comprehensive healthcare services through its IoT platform. The company hopes to use the funds to venture into the international market.

Bangalore-based freight service aggregator, TruckEasy bagged an undisclosed Series A investment amount from Tata Motors Finance on the same day. Founded in May 2015 by Nikhil Thomas, Vikram Kodgi and Avinash Achar, the company plans to utilise the funds to ramp up its infrastructure.

On July 11, Social ecommerce platform, Shop101, has reportedly obtained investments of USD 5 million in its Series A funding from Stellaris Venture, according to an Economic Times report. Shop101 competes, which competes with SAIF Partners-backed Meesho and Accel Partners-backed GlowRoad, will use the newly-infused capital to strengthen its workforce and scale the supplier network.

On the same day, Noida-based SmartVizx, a virtual reality newbie that provides real estate solutions has bagged USD 1.46 million, according to an Inc42 report. The company announced that it will use the funds for scaling up the product team and for international expansion. Founded in 2015 by Gautam and Tithi Tewari, SmartVizx has already in the past, attracted investment of USD 500 thousand from IAN and Stanford Angels and Entrepreneurs India.

On July 12, Bangalore-based real estate risk assessment firm, Zippserv, bagged USD 0.44 million Seed funds from Info Edge India. Co-founder Debashish Hota said the company would use the funds to strengthen technology and expand among a larger customer base.

On the same day, Info Edge India also provided Seed funds worth USD 0.25 to GeNextStudents, a Mumbai-based edutech company. The company hopes to strengthen its technology and expand its reach using the funds.

Zahir Zakaria

Zahir Zakaria is a Bangalore-based journalist. He focusses on emerging trends in the Indian startup ecosystem and can be reached out at Zahir@thepassage.cc

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