The Passage brings you a weekly digest on all the venture capital financing, fundraising, investments and acquisitions in India.
FlyRobe, a Mumbai-based fashion rental platform has raised USD 3.63 million as Series A investment from Sequoia Capital and IDG Ventures India. The company plans to use the funds to onboard designers, launch its iOS platform and strengthen its product.
Droni Tech, an Artificial Intelligence-based drone hardware supplying startup from Mumbai has bagged Seed investment worth USD 0.50 million from Eagle Security Group. The company plans to use the funds to ramp up sales through marketing and drive its R&D plans in Mumbai and the US.
Bangalore-based news and e-books app DailyHunt has bagged USD 6 million as Series E funding from Falcon Capital. The company has not revealed its plans to use the proceeds.
Chennai-based online pharmacy Netmeds has raised USD 35 million as Series C funding from Daun Penh Cambodia Group and Sistema. The company plans to use the money to expand their business.
Bangalore-based e-commerce startup Udaan has raised USD 225 million as Series C funds from DST Global and Lightspeed Venture Partners. The funds will be used in fulfilling the company’s plans to start its own supply chain.
- Ghaziabad-based budget eyewear brand ClearDekho raised an undisclosed amount in Seed round from The Mobile Only Accelerator. Fund utilization plans remain unknown.
Chennai-based customer experience management company CloudCherry has bagged USD 9 million as Series A investment from Pelion Venture Partners, Cisco Investments, Vertex Ventures and IDG Ventures India. The funds will be utilised to enhance the company’s deep learning capabilities.
Bangalore-based fintech startup SlicePay has raised USD 15 million as Series A funding from Blume Ventures, Simile Venture Partners and DAS Capital. The company plans to use the funds to expand to Tier II cities.
Delhi-based edutech company Srjna has raised and undisclosed sum as Series A investment from GrayMatters Capital. The company plans to use the funds to reach out to 1.5 million schools in India.
Mumbai-based fantasy games portal Dream 11 has raised an undisclosed amount in Series C funding from Tencent. Details of how the company plans to utilise the funds were not immediately known.
Delhi-based retail startup SignCatch has raised an undisclosed sum in Series A funding from ThinKuvate. The company will use the proceeds to fund its expansion plans.
Chennai-based AI starup Mad Street Den has raised an undisclosed amount as Series B funding from KIDDI. The company plans to use the funds to improve its AI prowess and enhance its sales and marketing arms.