A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Search Tap (2016, Delhi), cloud-hosted search solution for website and mobile apps. Founders are ex-Indus Valley Partners and are alumni of Delhi Technological University. Local comparable is Unbxd (2010, Bangalore, $2M). Global comparables are Twiggle (2013, Tel Aviv, $33M) and EasyAsk (2000, Burlington, $8M).
INDIA INTERESTING NEWS
HealthIntel (2015, Noida), provider of solutions for efficient patient and clinic management, raises an undisclosed growth capital from BLIP Initiatives. Link
Mobikwik (2009, Gurgaon), mobile wallet, recharge, bill payments provider, is in talks to raise around $150M in a round that would value the company at more than $1B. Link
TVS Group (1911, Chennai), automobile manufacturing company, acquires Check Gaadi (2014, Bangalore), online platform to book on demand vehicle inspection services, for an undisclosed amount. Link
GrowthEX (2016, Gurgaon), platform that provides online courses and counselling, acquires Leapwired (2016, Gurgaon), online marketplace, mentorship, and networking, for an undisclosed amount. Link
Flipkart’s (2007, Bangalore), online horizontal marketplace, proposed acquisition of eBay India (2005, Mumbai), online marketplace, trading and auctioning platform, has received approval from the Competition Commission of India. Link
Foodpanda (2012, Delhi), online food ordering and delivery from restaurants service provider, launches ‘Dash’, a third party food delivery service for restaurants. Link
Amagi (2008, Bangalore), provider of cloud based localised advertising on National TV Channels, partners with Sun TV (1993, Chennai), content production and satellite broadcasting services provider, for targeted advertising on its HD channels. Link
ClearTax (2010, Delhi), free income tax preparation and e-filing portal, launches bill book for preparing GST compliant invoices. Link
YES Bank (2004, Mumbai), private sector banking company, partners with TerraPay (2014, Amsterdam), global payment infrastructure for cross-border money transfer, for 24X7 international money transfer. Link
GLOBAL ROUNDUP
Scopely (2011, Culver City), mobile game developer and publisher focusing on Casual Games, raises $60M in Series C round of funding led by Revolution Growth, with participation from Greenspring Associates, Sands Capital Ventures, Cross Creek Advisors, and Pritzker Group Venture Capital. Link
Conviva (2006, San Mateo), video stream optimization solutions provider, closes $40M in an undisclosed round of funding led by new investor Future Fund with participation from NEA, Foundation Capital, and Time Warner Investments. LInk
Trucker Path (2013, SF), freight marketplace and assistance app for truckers, raises $30M in debt round of funding from Flexible Funding and Silicon Valley Bank. Link
Checkmate Pharmaceuticals (2015, Cambridge), developer of oligonucleotides for cancer immunotherapy, raises $27M in Series B round of funding led by new investor F-Prime Capital Partners with participation from Sofinnova and venBio Partners. Link
Culture Amp (2011, Melbourne), employee surveying platform, raises $20M in Series C round of funding led by Sapphire Ventures, with participation from Index Ventures, Felicis Ventures and Blackbird Ventures. Link
Highspot (2012, Seattle), sales engagement platform, raises $15M in Series B round of funding led by Shasta Ventures, with participation from Salesforce Ventures and Madrona Venture Group. Link
Mindstrong Health (2014, CA), preventive health care and diagnosis company, raises $14M in undisclosed round of funding led by Foresite Capital and ARCH Venture Partners with participation from Optum Ventures, Berggruen Holdings and the One Mind Brain Health Impact Fund. Link
Evasc Neurovascular (2001, Vancouver), endovascular repair of cerebral aneurysms, closed $10M in Series A round of funding led by Yonghua Investment Management Ltd., with participation from existing investors. Link
Fortanix (2016, SF), cryptography based data and IT security provider, raises $8M in Series A round of funding Foundation Capital and NeoTribe. Link
Medicxi, Geneva-based life sciences venture capital firm, launches $300M Late-Stage Life Sciences fund from MG1 are Novartis, Verily, an Alphabet company, and the European Investment Fund. Link