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Startups Funding Roundup – India (October 12 To October 18, 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 23, 2018 by Zahir Zakaria
Startups Funding Roundup – India (October 12 To October 18, 2018)

October 12:

Bangalore-based online used goods marketplace, Zefo has raised USD 3 million in Series B round from multiple investors including Sequoia Capital, Helion Venture Partners and FJ Labs. The proceeds are will be used to bolster its newly launched mobile phone business.

October 13:

Chinese tech giant Alibaba’s payment affiliate Ant Financial has invested USD 210 million as Series H funds in Indian restaurant discovery and food delivery unicorn Zomato. While the details of the fund utilisation plans could not be ascertained, the proceeds will give Zomato an edge over rival Swiggy with which it is locked in an intense competition for market leadership.

October 16:

Mumbai-based used car marketplace Tuebil has raised USD 2 million from existing investors Inventus Capital Partners, Shunwei Capital, Kae Capital, Tekton Ventures in its Series A round. The company has not revealed how it intends to use the funds.

Bangalore-headquartered AI-based employee performance-enhancing solutions provider Worxogo has raised USD 2.32 in Series A funding from Inventus Capital Partners and Ideaspring Capital. The company will use the cash to ramp up Mia, its Ai engine and to enter global markets.

Delhi-based online healthcare marketplace LetsMD has raised an undisclosed sum as Seed funds from Orios Venture Partners. The fund utilization details were not immediately available.

October 18:

Bangalore-headquartered mobile-based security solutions provider for gated communities, myGate has raised USD 2.17 million in Series A round from Prime Venture Partners. The company will use the funds to expand its presence to 10 Indian cities.

During the same week, Mumbai-based online marketplace for maid bureaus, BookMyBai raised an undisclosed amount as Seed funds from ARUN Seed. The fund utilization details were not available.

Also during the same week, Mumbai-based online healthcare products marketplace PharmEasy reportedly raised USD USD 35.2 million as Series C funds from Ascent Health & Wellness Solutions, Bessemer Venture Partners, Fundamentum, Eight Roads Ventures, FPrime Capital Partners and Medibuddy. No further details on the funding round were available at the time of compiling this digest.

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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