News
Update on Start-ups Deal in India
MoveInSyncTechnology Solutions, the commute automation platform, has raised `53 crore led by Nexus Venture Partners with participation from existing investors. The company will use the funds to further develop the end-to-end transport offerings, accelerate customer acquisition and launch international markets.
New Delhi-based Pine Labs, a digital retail payments platform, has raised $82 mn from Actis Capital and Altimeter Capital. The company will use the funds to accelerate its network penetration in India and expand outside India.
Chennai-based Appiyo Technologies, a startup offering enterprise workflow automation solutions, has raised $500K in a Seed round of funding led by Axilor Ventures, with participation from The Chennai Angels and others. The company will use the newly raised funding to expand its services globally.
Gurugram-based B2B marketplace and SME lending firm Power2SME has raised debt financing of `40 crore from InnoVen Capital. Power2SME will use the debt funding towards propelling the company’s growth and working capital.
Mumbai-based fitness discovery startup Fitternity raised $2mn in a funding round led by its existing as well as new investors. The latest funding round also saw the participation of marquee angel investors, including Arihant Patni (of Patni Family Office), Anjali Bansal (ex-TPG Partner), Akshay Chudasma (MD – Shardul Amarchand Mangaldas), Satish Khanna (Ex-Group President Lupin) and the Taparia family office.
Delhi-based healthtech startup BeatO, a comprehensive platform dedicated to diabetes solutions raised $1.3mn in funding, led by Leo Capital and Blume Ventures. The startup plans to use the funding to scale up the production and focus on better technology and innovations and distribution network.
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Bengaluru-based Southeast Asian fashion marketplace Zilingo raised $54mn to expand internationally to new markets such as Malaysia and Philippines. The funding round was led by Sofina, Burda Principal Investments and Sequoia Capital India.
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New Delhi-based SME lending company Namaste Credit raised $3.8mn from Nexus Venture Partners. The startup plans to use the funding to grow its geographic footprint, continue to enhance its technology and data analytics platform and further scale its businesses.
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Bengaluru-based employee transportation startup MoveInSync Technology Solutions raised $8mn from Nexus Venture Partners. Existing investors, including Inventus Capital Partners, Saama Capital and Qualcomm Ventures also participated in this round. The startup plans to use the funding to further develop end-to-end transport offerings.
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New Delhi-based B2B procurement startup and a one-stop platform for business, industrial and office goods, IndustryBuying raised `12 crore as venture debt from Mumbai-based Blacksoil Capital. The debt would be used to scale further and address the working capital requirement on account of the increasing order book.
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Bengaluru-based P2P lending company Finzy raised $1.3mn from a group of investors. The startup plans to use the funding to accelerate growth by investing in technology, making the processes leaner and faster and in building the team. A significant amount of the funding will also be utilised for geographical expansion across Tier I cities to take Finzy’s value proposition to a wider audience.