A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Marax (2016, Bangalore), AI based intelligent agents for the enterprise. Founders are ex-ZipGo, Deloitte, QuizWorks, hCentive, Lukup Media and are alumni of IIT-Kharagpur. Local comparable is Joe Hukum (2015, Gurgaon). Global comparables are Rulai (2016, Campbell, $13M) and NextIT (2002, Spokane, $8.75M).
INDIA INTERESTING NEWS
Krazy Bee (2016, Bangalore), provider of EMI based purchase loans for students, raises $8M in a combination of debt and equity in a series-A round of funding led by Xiaomi and others. Link
FingerLix (2016, Mumbai), private label brand for ready-to-cook food products, raises $6.9M in funding from Accel Partners. Link
Near Group (2015, Delhi), hyperlocal social networking app, raises $1.6M in Seed round of funding led by Open Ocean, with participation from other firms including Neotribe and Boost VC. Link
V2 Retail (2001, Delhi), chain of offline retail fashion stores, raises $12M in funding from Lighthouse Advisors India. Link
Sankalp Semiconductors (2005, Hubli), end-to-end design and manufacturing solutions provider for semiconductors, raises $5M in Series A round of funding from Stake Boat Capital. Link
Amazon (1994, Seattle), international online marketplace, invests $250M in its India-based seller operations unit – Amazon Seller Services as per the filings. Link
Zeta (2015, Bangalore), employee tax benefits and payment solutions provider, partners with Mahindra to expand its corporate payments. Link
Napino (1997, Gurgaon), manufacturer of auto electronics & electrical products, ties up with IAMAI to launch India’s first IoT based startup incubator – iot.IN. Link
GLOBAL ROUNDUP
Lime Bike (2017, San Mateo), provider of smart bike-rental service, raises $50M in Series B round of funding led by Coatue Management. Link
Chope (2011, Singapore), online restaurant reservations platform, raises $18M in Series D round of funding led by Square Peg Capital with participation from C31 Ventures and Moelis Australia, NSI Ventures, Susquehanna International Group, DSG Consumer Partners, and SPH Ventures. Link
Verve (2012, London), peer-to-peer event promotion software, raises $18.5M in funding led by Draper Esprit, with participation from previous investors Kindred, Frontline Ventures, and Backed. Link
Xmos (2005, Bristol), multicore microcontroller developer, raises $15M in Series E round of funding led by Infineon Technologies with participation from existing investors Amadeus Capital Partners, Draper Esprit, Foundation Capital and Robert Bosch Venture Capital. Link
Illumina Ventures, San Francisco based venture capital firm, closes first venture capital fund, at $230M. Link