QwikPik Technology Pvt Ltd, which runs food start-up Yumlane, has raised funds in a seed round from Flipkart chief executive officer Binny Bansal and People Group founder Anupam Mittal. It said that the funding round was under $1 million. The funding will be utilized for brand building, marketing initiatives and increasing footprint.
Fashion retailer YepMe planning to hive off the software unit into a separate entity is in talks with investors to raise $15-20 million for that entity, which it targets to be a large business ensuring high margins. It plans to open 400 stores by the end of this financial year in keeping with the omnichannel strategy followed by most e-tailers to ramp up sales.
Pune-based hyperlocal delivery startup Tokri has raised a pre-Series A round of funding from Syska LED group. The firm has raised $2.5 million (around Rs 16.7 crore), with a commitment from Syska to put in more money. The funding will be utilized to upgrade technology in a bid to improve the customer experience and set up warehouses in Pune and other cities. A part of the money will also go into brand building and marketing.
Bengaluru-based Neonatal Care & Research Institute (NCRI), which runs Ovum hospitals for pediatric and neonatal care, has raised INR 33 crore from IL&FS Investment Managers Limited and Norwest Venture Partners. The company is the latest among mother-and-childcare hospital chains to get funding from venture capital and private equity investors in recent months.
EarlySalary, a fintech startup that offers personal loans, will raise $5-6 million in the coming months as it looks to expand its presence across cities like Hyderabad, Visakhapatnam and Jaipur.The Pune-based firm offers loans ranging from Rs 10,000 to Rs one lakh for a tenure of 7 to 30 days, operating on similar lines of salary advance, and charges an interest of about 2 per cent.