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Tracxn – Analyst Notes (India Practice) # 548

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A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.

INTERESTING STARTUPS

Spectral Insights (2016, Bangalore), hyperspectral medical imaging solutions provider. Founders are ex-IMEC, Broadcom, GE Global Research, and are alumni of University of Illinois and University of Ottawa. Global comparables are Web Microscope (2013, Helsinki, $1.7M) and PathXL (2004, Belfast, $1.48M).

INDIA INTERESTING NEWS

Kahaniya (2016, Hyderabad), platform connecting writers and readers, raises $200k in Seed round of funding from a group of US-based non-resident Indians (NRIs). Link

Perspectico (2017, Delhi), platform for career advice from industry experts, raises an undisclosed amount in Seed round of funding from the incubation cell of Delhi University, SSCBS Innovation. Link

StyleCracker (2012, Mumbai), personal stylist led fashion e-commerce portal, raises an undisclosed amount in pre-Series A  round of funding from Alia Bhatt. Link

Ebix (1976, Atlanta) India, software & e-commerce solutions provider, acquires 50pc stake of VARA Technology (2016, Mumbai), IT software solutions provider, for an undisclosed amount. Link

Uber (2009, San Francisco) India, mobile app that connects passengers with vehicle drivers for hire, introduces 4 new features including Call to ride and Book for guest. Link

GLOBAL ROUNDUP

Deliveroo (2013, London), online platform to order food for delivery from partnered restaurants, raises $98M in Series F round of funding led by T. Rowe Price Associates and Fidelity Management & Research Company. Link

Kaseya (2000, Waltham), IT solutions for managed service providers, raises over $45M in funding from the Ireland Strategic Investment Fund. Link

Axios (2016, Commack), news and media startup, raises $20M in Series B round of funding from E.ventures, Greycroft Partners, Lerer Hippeau Ventures, WndrCo, NBCUniversal, Emerson Collective and Greg Penner. Link

Shippeo (2013, Paris), road freight booking and management platform, raises $11.8M in Series A round of funding led by Partech Ventures and Otium Venture. Link

Spotify (2006, Stockholm), global on-demand music streaming platform, acquires Soundtrap (2012, Stockholm), music co-creation & sharing platform, for an undisclosed amount. Link

BGF, UK-based venture capital firm, launches growth capital fund, at $295M for Irish Businesses. Link


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