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Funding Galore: Indian Startup Funding Of The Week [13 -18 Nov]
We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. This week eight Indian startups raised about $13 Mn in funding altogether in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed their funding amounts)
One of the most talked about funding speculation for the week was a possible infusion of massive $50 Mn in Swiggy from Flipkart, with Tencent likely to follow the deal.
Indian Startup Funding Of The Week
Active Intelligence: This is the highest funding in the Indian startup ecosystem this week. Active Intelligence, a Singapore-headquartered fintech platform with an innovation lab in Bengaluru raised $8.25 Mn in its Series A funding, led by Vertex Ventures, Creditease Holdings and Dream Incubator. Existing investors Kalaari Capital and IDG Ventures also participated in the round. The current funding will be used to scale up the talents and R&D works regarding AI technology in the banking sector.
Kahaniya: Hyderabad-based multi-lingual storytelling platform Kanhaiya raised $200K from a group of three NRI HNIs. The startup will use the raised funds to build a wider gamut of content accessible across different languages while improving revenue opportunities for creators.
ElderAid: Mumbai-based social enterprise catering to wellness industry raises an undisclosed amount of Angel funding from Rugmini Menon, a Hong Kong-based entrepreneur, to bolster its operations in Bengaluru. This investment will enable augmentation of operations, investment in critical customer management technology, marketing and brand building efforts.
Reniso: New Delhi-based property management startup Reniso raised an undisclosed amount of seed funding from a consortium of HNIs. The startup will use the funds to expand to other cities, develop its technology platform and build its marketing team.
Josh Talks: Gurugram-based Ted Talks like conference organiser Josh Talks raised an undisclosed amount of funding from angel investors such as Girish Mathrubootham, founder of cloud-based customer engagement platform Freshworks; Apurva Chamaria, global brand director at IT services firm HCL; and Rohit Chanana, head of strategy and finance at scooter manufacturer Hero Corporation. The newly raised funding will bring on board strategic mentors and advisors in order to launch its platform in vernacular languages such as Telegu, Tamil, Bengali, Marathi and Bhojpuri.
I2e1: Delhi-based i2e1 (Information To Every One), a smart network layer platform raised $3 Mn in Series A funding led by Omidyar Network. The round also saw the participation of Auxano Ventures and 3one4 Capital along with some of the organisation’s existing investors. The raised funds will be used to scale up the existing operations and launch a mobile application.