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Weekly Funding Roundup: Oyo Rooms. Vulcan Express, LendingKart & More

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Weekly startup funding roundup.

This week more than 10 Indian startups managed to rake up $300 m in funding, making it probably one of the busiest weeks for startups this year. Although $300 m may not be a very significant investment amount, but is worth appreciating that many startups hailed from lot of diverse sectors. This includes sectors like hotel aggregation, Fintech, healthcare, e-commerce and niche sector like pet care. Here is a look down on some of the leading the startups that managed to land a pay cheque from investors this week.

OYO raises 250 Mn from SoftBank & Other investors: The first one in our list is budget hotel aggregator Oyo Rooms, which received funding of 250 Mn from its largest investor SoftBank – making it the biggest startup funding of the week. The other existing investors like Sequoia India, Lightspeed Venture Partners and Greenoaks Capital also participated, while new investor Hero Enterprise also joined in.

The budget hotel space has already seen lot of developments this month, with Treebo Hotels raising $34 m from Hong Kong based investors last week.

Vulcan Express laps up $23.8 Investment: Logistic firm Vulcan Express received fresh capital infusion of $23.8 mn from its parent company Snapdeal. Barely two months back, Snapdeal had invested $5.68 Mn (INR 36.5 Cr) in its subsidiary logistic firm amid the failed merger talks with Flipkart, which apparently left its largest investor SoftBank pretty red faced.

LendingKart Raises 10.9 Mn Funding: The Ahmedabad based Fintech that is mainly focused on SME lending received fresh funding of 10.9 Mn. The funding was primarily done in the form of equity funds led by Sistema Asia Fund and other investors. The other investors include Bertelsmann India Investment, Mayfield India, Saama Capital.

Last week, LendingKart was in news for hiring a new CTO (Chief Technology Officer), part of its ongoing overhaul of its top management.

CreditVidya Scoops Up $5 Mn funding: The Mumbai based Fintech startup grabbed $5 Mn in a fresh round led by Matrix Partners India. The existing investor Kalaari Capital also participated in the round. The credit scoring startup had raked $2 Mn (INR 13.3 Cr) in Series A funding led by Kalaari Capital.

OncoStem gets $6Mn: OncoStem Diagnostics, an oncology-focused cancer diagnostics startup, landed $6 Mn through a fresh round led by Sequoia India. The diagnostic startup will use the latest capital infusion for improving its R&D efforts and for developing several cancer related tests. Besides, the company will use the funds for expanding footprints across the country and introducing tests in newer markets like Asia and Europe.

EarlySalary receives $782K (INR 5 Cr): Another Fintech company that has managed to gatecrash into this list is the Pune based EarlySalary. The startup raised $782K (INR 5 Cr) in debt financing round led by IFMR capital. The startup had only recently received Series A funding of $4 Mn (INR 28 Cr) from IDG Ventures India & DHFL.

ORBO gets Undisclosed Amount of Funding: ORBO, an Artificial Intelligence (AI) enabled facial technology and computer vision startup, received undisclosed amount of funding from famed Bollywood singers Meet Brothers (Harmeet Singh & Manmeet Singh), while AJ Ventures also participated in the round. The funding will help the startup in hiring computer vision scientists and deep learning experts.

The other leading startups that got lucky this week include pet care startup TailsLife, edtech startup NEST Education, Bengaluru based Datasigns Technologies and online holiday deals marketplace GoFro.

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