A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Virtus Motors (2016, Hyderabad), Developer of a sustainable transportation solutions, Co-founder is ex- Transinov Engitec,Tata Motors, Gretec Systems and alumnus of Brunel University. Local comparables are Hriman Motors (2017, Noida) and Golden Arrow Wireless (2008, Ahmedabad). Global comparables are NIO (2014, Shanghai, $2.1B) and WM Motor (2015, Shanghai, $1.81B).
INDIA INTERESTING NEWS
Bizongo (2014, Mumbai), Online marketplace for packaging supplies, raises $22M in Series B round of funding from B Capital Group and the International Finance Corporation. Link
OpenTap (2014, Chennai), Peer-to-peer lending platform providing short-term loans to consumers, raises 448K in funding from undisclosed investor. Link
Cricnwin (2015, Gurgaon), Mobile-based fan engagement platform for cricket lovers, raises an undisclosed amount in a seed round of funding from ZDream Ventures. Link
TechSamvad, Lucknow-based Hindi Technology News platform, raises undisclosed amount in Seed funding from Pawas Jain. Link
Paytm Mall (2017, Delhi), Online horizontal e-commerce marketplace, launches PoS solution for retail stores enabling shopkeepers to manage their offline and online customers, has also partnered with Asus India (1989, Mumbai) to implement this connected PoS solution at Asus retail stores. Link
GLOBAL ROUNDUP
Frontier Car Group (2016, Gothenburg), Builds & runs marketplaces for used cars in emerging markets, raises $58M in funding led by Balderton Capital TPG Growth, Fraser McCombs Capital and Autotech Ventures. Link
Soothe (2013, Los Angeles), On-demand massage booking at home, raises $31M in Series C round of funding led by The Riverside Company. Link
Banco Neon (2016, Sao Paulo), mobile-first retail bank, raises $22M in Series A funding led by Propel Venture Partners, Monashees, Quona Capital, Omidyar Network, Tera, and Yellow Ventures. Link
Soft Robotics (2013, Cambridge), Manufactures robotic grippers and control system, raises $20M in Funding led by Hyperplane Venture Capital with participation from new investors Scale Venture Partners, Calibrate Ventures, Honeywell Ventures, Tekfen Ventures, Yamaha Motor Co., Ltd., and existing investors Material Impact, ABB Technology Ventures, Taylor Farms Ventures and Haiyin Capital. Link
StorageOS (2013, London), Storage solution for building container based applications, raises $8M in Series A funding led by Bain Capital Ventures with participation from new investors MMC Ventures and 645 Ventures. Link