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Startups Funding Roundup – India (October 05 To October 11, 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:

Oct 17, 2018 by Zahir Zakaria
Startups Funding Roundup – India (October 05 To October 11, 2018)

October 5

Pune-based delivery service enhancer Elastic Run raised USD 8.12 million as Series B funds from Norwest Venture Partners, Kalaari Capital and others. The details of how the company plans to utilize the proceeds were not immediately available.

Jaipur-based online car classifieds Car Dekho announced the tentative closure of USD 75 million of its Series C funding round. Participants included Ratan Tata, Times Internet, HDFC Bank, Hillhouse Capital Group, Tybourne Capital Management, DENTSU and others.
October 8

Bangalore-based intercity logistics startup Blackbuck has raised USD 27.17 million as Series C funds from multiple investors including Sequoia Capital, Accel Partners and Sands Capital. The company has not revealed how it intends to use the funds.

Bangalore-based Software-defined WAN service provider Lavelle Networks raised USD 0.27 million as Seed funds from ASM Technologies. Details of the company’s fund utilization plans were not immediately available.

October 10

Seattle-headquartered AI recruiting solutions service provider My Ally raised an undisclosed amount in its Series A round from Storm Ventures, Eileses Capital and Firebolt Ventures. The company has not revealed details of how it intends to utilize the proceeds.

October 11

After investing in Delhi-based logistics startup Delhivery in March this year, Chinese VC firm Fosun RZ Capital led a USD 12 million Series B investment round of Bangalore-based logistic firm LetsTransport. The round also saw participation from two undisclosed Japanese parties. LetsTransport has not disclosed how t intends to use the funds.

Delhi-based co-workspace provider Innov8 has raised USD 4 million as Seed funds from Credence Investor relations. The funds will be used to double the seating capacity and expand the business of the company.

Mumbai-based online pre-owned car marketplace Truebil has announced raising USD 1 million as Series A investment from a bunch of investors led by Kalaari Capital. The company did not reveal how it intends to use the funds.

Surat-based healthcare venture Concept Medical has raised USD 60 million as Angel funds from an undisclosed investor. The funds will be used to help the company develop an alternative to stent, a medicated implant used for heart patients.

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

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