A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
Loop Reality (2016, Hyderabad), virtual reality environment for indoor fitness training. Founders are Ex- co-Founder Dirt9 group, CEO & co-Founder Helios Eco Vidyut, Accenture, and are alumni of GITAM university. Global comparables are VirZoom (2015, Boston, $3.5M) and Coresights (2016, Boston, $20K).
INDIA INTERESTING NEWS
Amber Enterprises (1992, Gurgaon), original equipment manufacturer for white goods companies, raises $28M in funding from ADIA, Goldman and other anchor investors. Link
Bidgely (2010, Sunnyvale), energy monitoring and management solutions provider, raises $27M in Series C round of funding led by Georgian Partners, with participation from Khosla Ventures, E.ON, and innogy, to grow India office. Link
Asian Development bank invests $50M in True North, Bangalore-based venture capital firm, to support mid-market business growth in India. Link
Patanjali (2006, Haridwar), manufacturer of Ayurvedic products, partners with eight e-commerce firms to launch patanjali products online. Link
True North, Bangalore-based venture capital firm, launches data platform Actify Data. Link
Jaarvis Accelerator, Gurgaon-based startup accelerator firm, shuts down operations in India, writes off investments. Link
GLOBAL ROUNDUP
Redwood Technologies Group (1993, Bracknell), provider of communications technologies and cloud contract solutions, raises $33.7M in funding from Scottish Equity Partners. Link
Omni (2014, SF), on-demand storage and delivery concierge provider, raises $25M in funding from Ripple. Link
Bringg (2013, Tel Aviv), mobile workforce tracking software-as-a-service provider, raises $12M in funding from Shmuel Harlap, shipping and real estate magnate Eyal Ofer, and Salesforce Ventures. Link
Instacart (2012, SF), marketplace for same day grocery delivery, acquires Unata (2011, Toronto), platform for both grocers and customers to interact digitally, for an undisclosed amount. Link
BMW Group (1916, Munich), automobile manufacturer, acquires Parkmobile LLC (2008, Atlanta), parking booking and payment enabler, for an undisclosed amount. Link