This week the Indian startup ecosystem once again witnessed decent funding activity as 14-15 promising startups managed to secure a pay cheque from investors. The startups hailed from diverse sectors like fintech, microdelivery, online home furnishing, healthcare and other. Here is a look down on some of the leading startups that managed to raise funds and how they really intend to channelize these funds into their business.
Aye Finance: This probably proved to be this week’s biggest funding round as Aye finance secured capital from CapitalG (investment arm of Google’s parent company Alphabet Inc) and other investors. The fintech startup will use the funds to expand its loan portfolio and ramp up its technology. The funding marks CapitalG’s first ever investment in the fintech sector.
Network intelligence: The next generation cybersecurity startup Network Intelligence secured funding cheque of $4.87 Mn (INR 33 Cr) from private equity company Helix Investments. The investment valued the Bengaluru based startup at nearly $22.89 Mn (INR 155 Cr). The startup will use major part of the latest funds for international expansion.
Pixr8: Pixr8, an online news portal dedicated to SMEs and startups raised a seed funding of worth 37K. The news portal company will use funds to increase its readership base and to attract promising talents for growing its business further.
HomeLane: Online interior designing servicing startup HomeLane got a major funding boost of $3.54 MN (INR 24 Cr) from Brand Capital, investment arm of the media conglomerate Bennett, Coleman Co Ltd. The startup aims to channelize the funds to enhance customer experience and streamlining its technology.
What’s Up Life: Online lifestyle media platform What’s Up Life secured undisclosed amount of funding from television celebrity Rannvijay Singh. As part of the deal, Rannvijay Singh will become the brand ambassador of the startup.
Theranosis Life Sciences: Hyderabad based diagnostic startup Theranosis Life Sciences got funding boost from Mumbai Angels Network. However, the exact funding amount was not disclosed. Theranosis aims to use the funds for exploring non-invasive diagnostics for treating cancer. It has even patented a device that can reduce the importance of surgical biopsies.
DailyNinja: Microdelivery and hyperlocal startup DailyNinja raised $3 Mn from Saama Capital & Sequoia Capital. The funding will help the startup in increasing its customer foothold across all the existing markets including Bengaluru, Hyderabad, and Gurugram. It will also use funds to add more new exciting products to its portfolio. Currently, DailyNinja delivers mainly milk, fresh vegetables and dairy products.
Nivesh.com: Mass market mutual funds investment platform Nivesh.com raised INR 3 Crore in seed funding from Lets Venture and other independent angel investors. The Noida headquartered startup will mainly use the funds for strengthening its distribution network and further ramping up its technology platform.
NirogStreet: Nirogstreet, an online platform for offering Ayurvedic treatment to patients raised $ 300K from the Japanese venture fund Spiral Ventures and other independent investors. The startup will use the funds to increase awareness about Ayurveda in India as well as in international markets.
CredAble: Supply chain startup CredAble, which is based in Mumbai, raised $14.8 Mn (INR 100 Cr) from Alpha Capital. The startup will look to leverage the latest capital infusion by trying to expand its loan book further and enhancing the capabilities of its backhand technology.