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Startups Funding Roundup – India (September 14 To 20, 2018)

Sep 26, 2018 by Zahir Zakaria
Startups Funding Roundup – India (September 14 To 20, 2018)

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

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September 14

Bangalore-based online pharmacy app Myra Med has raised USD 1.22 million as Series A round from a clutch of investors that included Matrix Partners, Times Internet, Dream Incubator.

Gurgaon-based fantasy football platform LeagueSX has raised an undisclosed amount as Seed round from LimeRoad co-founder Prashant Malik and others. Details on fund utilisation plans could not be immediately ascertained.

September 17

Bangalore-based AI and machine learning platform Mate Labs has raised USD 0.55 million in Seed round from Omphalos Ventures India LLP. The company said they would use the proceeds to strengthen their business.

Ola, the Indian ride-hailing giant raised USD 50 million from Hong Kong-based Sailing Capital and the China Eurasian Economic Cooperation Fund (CEECF) during its Series I funding round. The fresh funds are expected to be used by the company to further its expansion plans.

Delhi-based children’s learning platform Xplorabox has raised an undisclosed amount as Seed funds from Z Nation Lab. The company did not divulge its plans for utilising the fresh proceeds.

Bangalore-based furniture renting platform Furlenco has raised an undisclosed amount as Seed funds from undisclosed investors. No further details on the round were immediately available.

September 19

Gurgaon-based media startup NewsBytes has raised USD 1 million in Seed round from a clutch of investors including Muller Medien, Mumbai Angels and Powerhouse Ventures. The fresh capital will be used to strengthen the organisation’s AI engine.

Gurgaon-based Leena AI, an HR chatbot provider raised USD 2 million in a Seed round from Snapdeal co-founders Kunal Bahl and Rohit Bansal and other investors. The funds will be used to scale up the company’s business.

Bangalore-based online home design solutions provider Livsapce has raised USD 70 million in its Series C round from a clutch of investors including Goldman Sachs Investment Partners, TPG, Bessemer Venture Partners, Helion Venture Partners and Jungle Ventures. The fresh funds will be used to improve its sales.

September 20

Gurgaon-based smart parking systems provider Parkwheels has raised USD 0.17 million in its Seed round from 91Springboard. Details on how the company intends to use the funds were not immediately available.

Bangalore-based vernacular social networking platform ShareChat has raised USD 99.10 million in a Series C round which saw participation from a number of investors including Morningside Ventures, Shunwei Capital, Xiaomi, Lightspeed Venture Partners, SAIF Partners and Venture Highway. The company hopes to use the funds to help it in expanding into the hinterlands of India.

Bangalore-based hyper-local delivery service provider Daily Ninja raised an undisclosed amount in Series A round from Matrix Partners India, Sequoia Capital and Saama Capital. The funds will be used by the company to expand to cities other than Bangalore.

Delhi-based online women’s community Sheroes has raised an undisclosed amount as Seed funds from Leo Capital, Lumis Partners and The HR Fund. The fresh capital will be used to strengthen the platform’s vernacular content.

Delhi-based co-working space provider 91springboard has raised an undisclosed amount as its Series A investment from FreakOut Dewina Indonesia and other investors. The funds will be used for expansion, the company said.

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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