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Startups Funding Roundup – India (October 26 To November 01, 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:

Nov 5, 2018 by Zahir Zakaria
Startups Funding Roundup – India (October 26 To November 01, 2018)

October 31:

Indian cab aggregator Ola received a USD 100 million Series I investment from Hong Kong-based hedge fund and existing investor Steadview Capital. The company chose not to disclose the fund utilisation plans immediately.

October 29:

Mumbai-based Medikabazaar, an online aggregator for medical equipment and medical supplies, has raised USD 5 million in Series A round of funding led by Delhi-based venture capital fund HealthQuad. The company will use the fresh proceeds to spruce up its technology.

Mumbai-based online jewellery brand Sukkhi Online Pvt. Ltd. raised USD 7 in a Series A round led by domestic equity firm Carpediem Advisors Pvt. Ltd. The company intends to use the fresh capital to increase its presence on e-commerce platforms.

Delhi-based edutech firm Eupheus raised an undisclosed amount as Seed funds from Sixth Sense Ventures. The company, which makes e-textbooks for school students, will use the funds to speed up its efforts to increase its K-12 presence.

October 30:

Delhi-based e-sports startup GamingMonk Entertainment Pvt. Ltd. has raised USD 0.55 million in its Seed round led by Japan-based Incubate Fund. Other investors who participated in the round include Google India and South East Asia vice president Rajan Anandan, Stellaris Ventures, Smile Group, AdvantEdge, Samir Khurana and others. The company did not divulge details of how it intends to use the fresh proceeds.

US-based mobile performance platform provider HeadSpin has raised USD 20 million in Series B financing round that saw participation from new investors ICONIQ, Battery Ventures, EQT Ventures, Kearny Jackson, Adam D'Angelo, Ross Mason, and Ryan Hoover. Existing investors GV, Telstra Ventures, DanHua Capital, Nexus Ventures Partners, NextWorld Capital, and others also participated in the round. The company which was co-founded by Indian-origin entrepreneur Manish Lachwani, did not reveal how they would use the fresh funds.

Delhi—based SaaS startup Sentio has raised USD 19 million from Centana Growth partners. No further details on the funding round was immediately available.

During the same week Bangalore-based ‘intelligent’ garment manufacturer Turmswear raised USD 0.86 million from undisclosed investors. Further details on the round were not available at the time of filing 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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