Funding Galore: Indian Startup Funding Of The Week [22-27 Jan 2018]

We bring to you the latest edition Funding Galore: Indian Startup Funding of the week.

This week 15 Indian startups raised about $76 Mn in funding altogether and six acquisitions took place in the Indian startup ecosystem. (The startup funding calculations are based on the startups that disclosed funding amount.).

One of the biggest funding in the Indian startup ecosystem this week was the Mumbai-based non-banking financial company (NBFC) /digital lending platform NeoGrowth Credit raising $47 Mn (INR 300 Cr) in equity funding from investors led by LeapFrog Investments. Existing investors Aspada Investment Company and Quona Capital have also participated in the fundraising, through Accion Frontier Inclusion Fund

Also, Mumbai-based BookMyShow was said to be in final talks with private equity firm TPG Growth to raise $50 Mn – $ 60 Mn (INR 320 Cr – INR 380 Cr). BookMyShow might be valued at $750 Mn with this fundraising.

Indian Startup Funding Of The Week

HungerBox: Growth Story-promoted B2B foodtech company, HungerBox closed a Pre-Series A funding of worth $2.5 Mn led by Lionrock Capital and Kris Gopalakrishnan, Co-Founder, Infosys.

OptaCredit: OptaCredit, the alternative-lending fintech startup, secured an initial $4 Mn credit line from DMI Finance. The credit facility will be directly imbibed in aiding the company’s present financial offerings in aiding salaried customers across India to get access to timely and transformational credit.

Skillate: AI-based HRTech startup Skillate raised an undisclosed amountof funding from Incubate Fund India, and Industry expert and Director of Zyoin, Anuj Agrawal, says co-founder Anand Baranwal. The newly raised funding will be used to accelerate product development, expand its team and bolster marketing initiatives to ramp up its customer base in India and abroad.

Axio Biosolutions: MedTech startup Axio Biosolutions raised $7.4 Mn in a Series B funding round led by Ratan Tata’s RNT Capital. Existing investors Accel Partners and IDG Ventures India also participated in the funding round. The startup plans to use the funds for expansion to new markets while continuing to work on high-impact medical products.

MilkBasket: Gurugram-based online grocery startup, Milkbasket received $3 Mn funding in a Pre-Series A round led by Unilever Ventures. The startup plans to use the latest funding and Unilever’s expertise to strengthen technology as well as in expanding their assortment and customer base and monetising other streams of revenues.

Find the complete list of all the startups that got funded, startup acquisitions from last week and more insights from the Indian startup world →