It is no more raining funds for Indian startups. Since the mid-2015, funds have been hard to come by for most startup companies. Nonetheless, every week many promising startups still manage to win the faith of investors and this week was no different. What was special about this week was that quite a few healthcare startups managed to raise funds from investors. Here is a look down on all the startups that managed to rake up the funds this week.
Curefit Raises Funds from Existing Investors
The first in our list is a well-known healthcare startup company that has been receiving blessings from investors ever since it was founded last year. In fact, Curefit is one of the most well-funded companies in the Indian startup eco system and this week the company managed to get another round of funding from its existing investors. The Bengaluru based healthcare startup managed to raise $25 million (Rs 160 crore) in series B funding from existing investors including Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT Fund.
Treebo Hotels Grabs Series C Funding
Budget hotel group Treebo Hotels bagged $34 million (Rs 220 crore) in Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital. Some of company’s existing investors also participated in this round. Treebo said that it will partly use the latest capital infusion to expand its hotels in other parts of the country.
Mobikon fetches $7 M funding
Restaurant solution startup Mobikon managed to scoop in $7 Mn through Series B funding led by several well-known VC firms including Sistema Asia Fund and C31 Ventures. Existing investors Spring Singapore and Jungle Ventures also participated in the round. The startup will use the funds to strengthen its operation in the existing market and to enter new markets like U.K and Australia by next year.
Medinfi receives funding from international angel investors
Healthcare content platform Medinfi bagged approximately Rs 80 lakhs ($125,000) of funding from several international angel investors. The startup will capitalize on latest funding by trying to expand its customers to 5 million and enhance its network across 50 cities by year 2018. This is the sixth round of funding ever since the Bengaluru based startup started its operation in 2014.
Another healthcare startup that received capital infusion this week was MedGenome. The Bengaluru based genomics diagnostics startup landed $30 million (Rs 192 crore) funding led by Sequoia Capital and clutch of private investors. A new investor Sofina SA also participated in the round. The startup will use the funds to make its diagnostic tests more affordable and to increase mass awareness about the importance of genetic tests.
Mfine gets $1.5 million funding
The last in our list is yet another healthcare startup, Mfine. Mfine, whose app will be launched later this month, grabbed $1.5 million (Rs 9.58 crore) in what appears to be seed funding. The funding was led by Stellaris Venture Partners, while well-known healthcare entrepreneurs Mayur Abhaya & Rohit M.A also participated in the round.