A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Ati Motors (2017, Bangalore), autonomous electric cargo vehicle provider. Founders are ex-executives from RazorFish Neev and Robert Bosch and are alumni of IIT BHU and IISC. Local comparable includes AutoNxt (2016, Mumbai). Global comparables include Navya Technology (2014, Paris, $38.5M) and Varden Labs (2015, Waterloo, $4.62M).
INDIA INTERESTING NEWS
wayForward (2015, Gurgaon), emotional wellness and anxiety management app, raises $1M in angel funding from Harsh Mahajan,Farhan Naqvi and Sreepathy Viswanathan. Link
Growfitter (2016, Mumbai), online marketplace for fitness centers and gyms, raises $600k in a Pre-Series A round of funding from San Francisco-based VC SQUE Capital. Link
Market Pulse (2015, Mumbai), real-time MCX data & market intelligence provider, raises an undisclosed amount in Seed funding from Lead Angels Network and Chatur Ideas platform. Link
Hungry Foal (2016, Gurgaon), private label brand for nutritional snacks, raises an undisclosed amount in debt funding from SBI under the Stand up India Scheme. Link
Berger Paints (1923, Kolkata), manufacturer & supplier of decorative paints, acquires Saboo Coatings (2005, Chandigarh), specialty liquid coatings manufacturer, for an undisclosed amount. Link
Princeton Growth secures up to $300M backing from Warburg Pincus. Link
Mihup (2016, Kolkata), AI enabled personal chat based assistant app, halts operations. Link
Freshdesk (2010, Chennai), cloud-based customer helpdesk solutions provider, has created a new umbrella brand, Freshworks, bringing together the company’s suite of business software including their flagship product Freshdesk. Link
GLOBAL ROUNDUP
Cadre (2014, New York City), real estate investment platform, raises $65M in Series C round of funding led by Andreessen Horowitz. Link
Plume (2015, Palo Alto), self-optimizing adaptive Wi-Fi system provider, raises $37.5M in Series B round of funding from Comcast, Samsung Venture Investment, Presidio Ventures, Jackson Square Ventures and Liberty Global. Link
Armis (2015, Palo Alto), wireless security platform focused on BYOD security, raises $17M in undisclosed round of funding from Sequoia Capital, Tenaya Capital, Zohar Zisapel, René Bonvanie, and Mickey Boodaei. Link
Fishpeople Seafood (2012, United States), shelf-stable gourmet seafood meals provider, raises $12M in Series B round of funding led by Advantage Capital Agribusiness Partners with participation from 3×5 Partners, S2G Ventures, Encourage Capital, Blueberry Ventures and Collaborative Fund. Link
Autopilot (2011, San Francisco), marketing automation platform for personalized multichannel engagement, raises $12M in Series D round of funding from Blackbird Ventures and Salesforce Ventures among others. Link
Tractable (2014, London), visual analysis solutions provider for multiple industries, raises $8M in Series A round of funding led by Ignition Partners with participation from Zetta Venture Partners and others. Link
Ascensus (1980, Dresher), insurance service and technology provider, acquires Kravitz, Inc (2009, California), retirement administration firm, for an undisclosed amount. Link