Silicon Valley-based cloud backup and data protection firm Druva Inc has raised $51 million (Rs 340 crore) in a new round of funding led by existing investor Sequoia Capital India. The funding will be utilized to accelerate both product innovation and adoption, while enhancing product capabilities across Druva’s secure cloud platform. In addition, the capital will be used to further drive sales and marketing, and continue the company’s global expansion.
Hong Kong-based online outstation taxi marketplace InstaCar has received $1 million in seed round of funding from Hong kong-based Swastika Company Pvt Ltd. The funding will be utilized to scaling up operations, marketing, and brand building.
Promon, a local commerce platform, has received $180,000 in a bridge round of funding from Delhi-based investment firm Now Capital. The startup is a deals-based consumer engagement platform for retailers to get customers. To avail deals the customer has to promote the seller via personalised digital advertisements on social networking sites.
Men’s grooming brand Beardo has raised $500,000 in seed funding from Mumbai-based Venture Catalysts and other investors. The funding will be utilized to expand reach offline and upgrade logistics and infrastructure network.
Noida-based fintech company InMotion Media Ventures has received an undisclosed amount in Pre-Series A round of funding, led by online pharmacy 1mg’s founders Prashant Tandon and Gaurav Agarwal. The round is not yet closed and InMotion is looking to raise a total of $225K (INR 1.5 Cr) from other investors. The funding will be utilized for expansion of its network and operations to Tier II and Tier III cities in north India. It will also be used for product development.
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