A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
vDots (2017, Pune) IoT-based offline payments, physical authentication and other retail solutions. Founders are experienced professionals from technology companies. Local comparables are RedSky Technology (2016, Mumbai), Mobstac (2009, Bangalore, $2M). Global comparables are Swirl Networks (2010, Palo Alto, $32M) and Percolata (2012, Palo Alto, $5M).
INDIA INTERESTING NEWS
Inshorts (2013, Delhi), summarized news and infotainment content provider, raises $5M in funding from Tiger Global Management’s Singapore investment vehicle and Internet Fund III Pte Holdings. Link
MilkLane (2015, Mumbai), online platform for industrial-scale milk collection and supply, raises $4.09M in funding from Pioneering Ventures, Schreiber Foods and some ultra high net-worth families. Link
The Label Life (2012, Mumbai), online store for private label products across different categories with celebrity endorsements, raises $3.1M in funding from Kalpavriksh, Centrum group’s maiden private equity fund under Centrum Alternatives LLP. Link
eShakti (1999, Chennai), custom women’s apparel brand, raises $2.3M in Debt round of funding from BlackSoil Capital. Link
KiViHealth (2015, Ahmedabad), healthcare marketplace for appointment booking, raises $400k in pre-Series A round of funding from Claris Capital and Chandigarh Angels. Link
The Man Company (2013, Gurgaon), subscription-based men’s grooming brand, raises an undisclosed amount of funding from Emami, for 30% equity stake. Link
Cygnus Hospitals (2011, Delhi), chain of multi-speciality hospitals, raises an undisclosed amount in funding from undisclosed investors. Link
Ultraviolette (2014, Bangalore), developer of electric vehicle for personal mobility, raises around $774k in funding from TVS Motors Co. Ltd., for 15% equity stake. Link
Grofers (2013, Delhi), online horizontal retailer and on-demand delivery marketplace for groceries, enables postpaid billing for shopping for select users. Link
Indgrowth Capital, Mumbai-based venture capital firm, raises maiden fund, at $102M. Link
GLOBAL ROUNDUP
Compass (2012, NYC), technology driven online brokerage firm, raises $450M in Series E round of funding from SoftBank Vision Fund. Link
Movile (1998, Sao Paulo), provider of mobile apps/platforms and marketing for entertainment, raises $82M in funding from Naspers and Innova Capital . Link
WorldRemit (2010, London), online remittance platform provider, raises $40M in Series C round of funding led by LeapFrog Investments, with participation from Accel Partners and Technology Crossover Ventures. Link
LaunchDarkly (2014, Oakland), early user feedback capture platform, raises $21M in Series B round of funding led by Redpoint Ventures and Vertex Ventures. Link
CGI (1987, Montreal), information technology and business process outsourcing solution provider, acquires Paragon Solutions, Inc (1982, Cranford), high-end commercial business consultancy firm, for an undisclosed amount. Link