Archive News

28/02/2017

Live learning platform NeoStencil raises $1 Million in funding

Ed-tech startup NeoStencil India Pvt Ltd has raised $1 million in a funding round led by media house Times Group’s ad-for-equity investment arm Brand Capital and California-based Paragon Trust. A one-stop destination for UPSC preparation, the company provides live as well as recorded classes, test series and study material from […]
28/02/2017

Ola raises $330 Million in fresh round led by SoftBank

Bengaluru-based cab-hailing firm Ola, run by ANI Technologies Pvt Ltd, has raised $330 million (INR 2,200 crore) in fresh funding led by existing investor SoftBank Group Corp. It is reported that the Japanese tech giant and two other existing investors participated in the round, but the cab aggregator’s valuation dropped […]
28/02/2017

DSG Consumer Partners hits final close of new fund at $40 Million

Deepak Shahdadpuri-led early-stage investment firm DSG Consumer Partners has achieved the final close of its second fund at $40 million(INR 267 crore). The second fund, DSGCP II, aims to make 20 investments. It will focus on companies in India and Southeast Asia, and will deploy the entire corpus by mid-2018.
28/02/2017

Sidbi doubles fund of funds operations; sanctions INR 300 Crore

Sidbi has cleared sanction requests of nine funds aggregating INR 300 crores in a recent meeting, showing a significant upsurge in the fund of funds operations focused on MSME and startups. Sidbi as manager of these funds has constituted a Venture Capital Investment Committee (VCIC) which includes external experts Mohandas […]
28/02/2017

Big data recruitment startup Belong raises $10 Million in funding led by Sequoia

Bengaluru-based big data recruitment startup Belong has raised $10 million (INR 68 crore) in funding led by Sequoia Capital, existing investor Matrix Partners also participated in this series-B funding round. The funding will be utilized to accelerate product development, expand sales and support operations, and hire more people.
27/02/2017

Global Super Angels Forum makes fresh investments in 5 startups

Gurgaon-based startup accelerator Global Super Angels Forum (GSF) has made fresh investments in five startups which constitute its fifth batch for its accelerator programme. The five startups are, bot-assistant player YellowAnt, artificial intelligence (AI)-driven chatbot solution HeyMojo, deep-learning tech startup Silversparrow, appbased health program Breathe Well-being, and tech-enabled investment platform […]
27/02/2017

ItzCash makes equity investment in fintech startup Finly.io

Digital payment company ItzCash has made an equity investment in Bengaluru-based fintech startup Finly, which has developed an expense management tool for corporates. Finly, which currently has a web and mobile platform, will use ItzCash’s prepaid card for expense management and disbursement.
27/02/2017

Stay Abode raises undisclosed amount in angel round

Stay Abode, which builds co-living spaces, has raised an undisclosed amount in an angel round from a consortium of investors led by Ishan Manaktala, COO of CoreOne Technologies; and Angie Mahtaney, CEO at K Mohan Exports.The funding will be utilized to expand to other cities including Pune, Mumbai and Delhi.
27/02/2017

Clean-tech startup igrenEnergi raises funding from Japanese investors

igrenEnergi Inc, a US-based solar energy startup incubated at the Indian Institute of Technology-Bombay, has raised an undisclosed amount of funding from Japan’s BroadBand Tower Inc and GiTV. BroadBand Tower operates data centres and provides cloud services to e-commerce companies, video distribution sites and social media.
27/02/2017

Ventureast floats early-stage fund to back health-tech startups

Early-stage investor Ventureast Fund Advisors India Ltd is raising a new $4 million fund to make angel and seed investments in digital healthcare startups. This fund is an “independent initiative” as part of the healthcare series.
27/02/2017

Mobile ad platform Oglas raises angel funding

Noida-based mobile advertising startup Oglas has raised angel funding from two people. The Oglas application is an image- and video-based advertising tool for businesses. The multi-utility platform works as a customer retention tool with inbuilt loyalty and a referral programme with customizable solutions. Users get rewards for using the app […]
24/02/2017

Matrix-backed Stayzilla shuts down, will ‘reboot’ with different model

Online homestay and alternate stay aggregator Stayzilla has suspended its operations and will reboot with a different business model. Started in 2007, Stayzilla started off by offering budget hotel accommodation to travellers but shifted its focus to home stays early last year.
24/02/2017

Get My Parking raises $1.1 Million from IAN, others

Cloud-based mobile parking technology startup Get My Parking has raised pre-Series A funding from Indian Angel Network (IAN), venture firm Beenext, The Chennai Angels, and Hero Corporate Services chairman Sunil Munjal. The funding will be utilized to deploy its integrated smart parking platform.
23/02/2017

Bharti Airtel acquires stake in fintech startup Seynse

Indian telecommunications major, Bharti Airtel has acquired an equity stake in fintech startup Seynse Technologies Pvt Ltd, for an undisclosed amount. The deal has been facilitated through its subsidiary arm, Bharti Airtel Services.mLaunched in 2015, Seynse offers a host of digital financial services to its users including a digital lending […]
23/02/2017

B2B pharmacy app Reap raise funding from FreeCharge founders, Chaayos CEO

Mumbai-based Workcell Solutions Pvt Ltd, which runs B2B app for pharmacies Reap, has raised an undisclosed amount in seed funding from FreeCharge founders Kunal Shah and Sandeep Tandon, Chaayos co-founder and CEO Nitin Saluja and Thinklabs founder Gagan Goyal. The funding will be utilized to develop the product further and […]
21/02/2017

Orios Venture Partners raises second fund

Orios Venture Partners has closed the fundraising process for its second fund at a lower-than-targeted level but plans to hit the road again within the year, as the Mumbai-based venture capital firm looks to accelerate its pace of investments after staying on the sidelines in 2016.
21/02/2017

IAN makes first close of maiden venture fund

Indian Angel Network’s eponymous IAN Fund has marked its first close, receiving commitment from investors within the network as well as high-net-worth individuals (HNIs). The fund will focus on sectors such as e-commerce, semi-conductors, gaming, and robotics.
21/02/2017

IDG, Accion to invest more in CreditMantri

Chennai-based online credit management startup CreditMantri Finserve Pvt Ltd is set to raise INR 51 Crore in Series B funding from new and existing investors. Founded in 2012 CreditMantri is an online platform that helps customers make borrowing decisions. It helps them understand their credit scores, learn how to improve […]
21/02/2017

CDC, Manipal form $80 Million fund to invest in “healthcare beyond hospitals”

CDC Group Plc, British government’s development finance arm and Manipal Education and Medical Group have partnered to float a $80 million fund, to invest in healthcare services beyond the conventional hospital services. The two institutions have come together to invest an initial $80m in innovative opportunities in India, Africa and […]
21/02/2017

Photo-sharing app Vebbler selected for FbStart

Photo-sharing app Vebbler, which is run by Vebbler Technologies Pvt Ltd, has been selected by social media giant Facebook for its FbStart programme. Photo-sharing app Vebbler, which is run by Vebbler Technologies Pvt. Ltd, has been selected by social media giant Facebook for its FbStart programme.
20/02/2017

Food startup Biryani By Kilo raises angel funding

Gurgaon-based food startup Biryani By Kilo, operated by Sky Gate Hospitality Pvt Ltd, has raised angel funding from a clutch of investors. The funding will be utilized to set up new kitchens in Delhi NCR and strengthen technology processes.
20/02/2017

True Balance raises Rs 100 Crore from SoftBank ventures Korea, others

Mobile balance management services startup True Balance has closed a INR 100-crore funding round, which was led by SoftBank Ventures Korea, a venture capital arm of the SoftBank Group, and IMM Investment. True Balance is an Android app that allows users to check their mobile call and data balances, without […]
20/02/2017

Health app Obino acquires fitness gamification app Fitard

Mumbai-based Manna Healthcare Pvt Ltd, the company which runs health & weight loss coaching app Obino, has acquired fitness mobile app startup Fitard for an undisclosed amount. Fitard is a fitness tracking app that rewards users with Fitard Coins, a virtual currency, on completion of targets to keep up their […]
20/02/2017

VIVO Healthcare receives investment from ICCO of Netherlands

Healthcare training and education company VIVO Healthcare has received strategic investment from ICCO Investments.With over 60 training centres in 13 states across India, VIVO has rapidly transformed into a leading platform for training of paramedics, technicians and allied health workers.
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