A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Slonkit (2015, Mumbai), prepaid card and digital wallet provider for teenagers & students. Founder is an ex-executive from Bain & Co and is an alumnus of Fuqua School of Business. Local comparable includes Spenwise (2015, Kochi). Global comparables include Osper (2013, London, $11.2M) and goHenry (2011, London, $5.75M).
INDIA INTERESTING NEWS
BHIVE Workspace (2014, Bengaluru), coworking space provider, raises $1.2M in funding led by Blume Ventures, along with marquee investors Ramesh Aravind, Meera Reddy and other high net-worth individuals. Link
Spinny (2015, Gurgaon), online marketplace for pre-owned cars, raises $1M in a Seed round of funding from Blume Ventures, Indian Angel Network & others. Link
Ftcash (2015, Mumbai), mobile payments platform for retailers, raises an undisclosed amount in pre-Series A round of funding from 500 Startups. Link
MaxMyWealth (2015, Jaipur), savings and investment platform provider, raises an undisclosed amount in funding from two UK-based firms. Link
GyanDhan (2015, Delhi), education financing marketplace, raises an undisclosed amount in funding from Sundaram Finance Holdings. Link
Aasaanjobs (2013, Mumbai), online marketplace for entry level jobs, acquires mHire (2013, Delhi), online marketplace for blue-collared hiring through vendors, in an undisclosed cash-and-stocks deal. Link
Alibaba Pictures, the entertainment arm of Alibaba Group, acquires majority stake in TicketNew (2007, Chennai), online platform to book tickets for entertainment events, for an undisclosed amount. Link
Trifecta Capital overshoots Rs 300 crore target for its maiden investment vehicle. Link
Myntra (2007, Bangalore), online retail store for fashion and lifestyle products, inks deals with two women’s wear brands – Chemistry (2005, Mumbai), a western wear brand for women, and AKS, women ethnic wear brand. Link
Airtel (1995, Delhi) launches new digital platform to aid the development of SMBs and startups in the country. Link
GLOBAL ROUNDUP
Riversand Technologies (2001, Houston), master data management , product information management and data quality solutions provider, raises $35M in Series A round of funding led by Crestline Investors. Link
Comhear (2013, San Diego), audio technology company, raises $12M in Series A round of funding from undisclosed investors. Link
PlaySight (2010, Kfar Saba), video automated smart court system provider for sports analytics, raises $11M in a Series C round of funding from Verizon Ventures and golfer Greg Norman. Link
Clustree (2013, Paris), talent management and internal employee mobility tool, raises $7.9M in a Series A round of funding led by Creandum with participation from Idinvest Partners and Alven Capital. Link
Yogome (2012, San Francisco), STEM focussed mini mobile games for 6-12 age kids, raises $6.6M in a Series A round of funding from Seaya Ventures, Variv Capital, and Endeavor Catalyst. Link
Beanworks (2012,Vancouver), accounts payable automation software provider, raises $4.5M in a Series A funding led by Vancouver Founder Fund and Timia Capital. Link
Brightree (2002, Lawrenceville), cloud-based solutions provider for the home care industry, acquires Conduit Technology (2012, Pennsylvania), documentation and workflow solutions provider, for an undisclosed amount. Link