The Passage brings you a weekly digest on all the venture capital financing, fundraising, investments and acquisitions in India. Here are the top highlights:
- On September 7, Mumbai-based e-commerce delivery platform Wow Express raised USD 10 million as Series B funds from undisclosed investors. The company hopes to use the proceeds to expand its operations and to ramp up its technology.
- On September 8, Gurgaon-based AI powered robotics company Grey Orange announced raising USD 140 million as Series C funds from Mithril, Blume Ventures and Mitsubishi Corporation. The funds will be used to help the company to realise its vision to bring about greater automation to the supply chain sector.
- On September 10, Mumbai-based online parenting platform BabyChakra announced receiving an undisclosed amount as Seed funds from Artha India Ventures. The company will reportedly use the proceeds to strengthen its vernacular content.
- On September 11, Gurgaon-based mother and child care products maker Mamaearth announced raising USD 3.70 million as Series A funds from their existing investor Fireside and other investors. The company hopes to use the funds to strengthen its offline presence, develop its product and in building brand awareness.
- On the same day Pune-based fintech Bon (owned by Bonfleet Solutions Pvt Ltd.) announced receiving Seed funds worth USD 1 million from a clutch of investors including Omidyar Network and Axilor Ventures. The funds will reportedly be used to upgrade the company’s technology.
- On September 12, Mumbai-based fintech Upwards raised USD 4.40 million in Series A round which was led by Chinese VC fund Shunwei Capital. Existing investors like Mayfield and India Quotient also participated in the round. The company hopes to use the proceeds to strengthen its technology and data science capabilities.