Furlenco does it again!
This Bangalore-based furniture rental startup has raised another ₹5 Cr from existing investor Signet Chemical Corporation.
Details: Operated by Kieraya Furnishing Solutions Private Limited, Furlenco has allotted 500 NCDs of ₹100,000/- each on February 13, 2018.
Including the current raise, the startup has raised a respectable ₹195 Cr.
Apart from from Lightbox Ventures, and Trifecta Capital, Furlenco’s list of shareholders includes celebrity investors such as Kris Gopalakrishnan, Lakshmi Narayanan, Rekha Hrishikesh Mafatlal of Mafatlal Group, and not to forget, Aamir Khan .
Grab.in raises ~ $1.38M from Government Fund
The Mumbai-based lastmile delivery company, has raised ₹9 Cr from SIDBI Venture Capital.
Details: The food delivery startup that has now branched out into other last mile segments raised the financing from the Maharashtra State Social Venture Fund which is managed by SIDBI Venture Capital.
Filings: Grab a Grub Services Private Limited, the company that operates under the brand Grab.in has allotted 10 equity shares of ₹10/- each at a premium of ₹19,219.67 each and 89,807 debentures of ₹1000/- each on January 20, 2018.
According to filings, the debentures will convert into 4,760 equity shares within a maturity period of 5 years.
ReNew Power gathers more funds
One of India’s leading renewable energy company, ReNew Power has again raised a large debt round ₹275 Cr from L&T floating rate fund and SBI mutual fund.
Details: ReNew Power Ventures Private Limited has allotted 5,500 unsecured commercial papers (short-term unsecured promissory notes) of ₹500,000/- each on January 16, 2018, as indicated by regulatory fillings.
The commercial paper has been issued for a tenor of 162 days with no voting rights.
Fastfox raises fresh capital
The Gurgaon-based home rental startup has raised ₹10 Cr from existing investors in a Series A1 round.
Details: Operated by Oku Tech Private Limited, Fastfox has allotted 39,262 Series A1 preference shares of ₹10/- each at a premium of ₹2524.7/- per share on January 30, 2018.
Pallav Pandey, one of the co-founders of Fastfox, also participated in the round, contributing ₹1.93 Cr.
The startup had raised a seed round of ₹6 Cr from Lightspeed in July 2015, followed by a Series A round of ₹30 Cr in 2016 from Blume Ventures, Lightspeed India Partners, CyberAgent Ventures, GrowX Ventures, and IMJ Investment Partners.
HealthQuad and Blume back The Healthy Billion
The Healthy Billion (THB), a Gurgaon-based healthcare analytics startup is raising ₹14 Cr in what appears to be an extended Seed round.
Details: Sekhmet Technologies Private Limited, the company that runs THB, appears to have received ₹8 Cr of the ₹14 Cr, according to regulatory filings.
Participating Investors: Blume Ventures, Healthquad, Fireside Ventures, Apoorva Patni , and Arpan Sheth , partner in Bain & Company.
Angle: HealthQuad is making a bold play across healthcare with investments in genomics (Strand Lifesciences), telemedicine (Neurosynaptics) and now enterprise tech for healthcare (THB). The clinical research and data analytics startup founded by Akash Khurana, Gagandeep Singh, Rohit Kumar and Rajesh Pachar in 2015, reported ₹66 lakhs in revenue for the financial year ending March 31, 2017, up 266% from ₹18 lakhs in the previous financial year, while total expenses grew 313% from ₹67 lakhs to ₹2.77 Cr in the same time period. This investment is also a positive signal for Kanwaljit Singh's investment brand - he has been a consistent investor across rounds, right from the startup's early angel round in 2015.
Upgrad gets more founder funding
UpGrad raised another round of funding from Unilazer Ventures.
The Ronnie Screwvala-promoted startup continues to be funded by Unilazer even as news reports indicate that it is in the market to raise around $40M.
UpGrad Education Private Limited raised ₹1.5 Cr from Unilazer Ventures Private Limited via the allotment of 15,00,000 redeemable preference shares on January 29, 2018.
Unilazer infuses bridge into ShopClues’ Indian operations
The Ronnie Screwvala-managed fund appears to have infused $1M in ShopClues’ Indian subsidiary.
Details: Regulatory filings indicate that the company, Clues Network Private Limited, has allotted 1027 equity shares of ₹10/- face value at a premium of ₹62,298/- per share amounting to ₹6,39,90,316/-. The 2011-founded online marketplace last closed an ads-for-equity deal with the Times of India group in September 2017.
Angle: Unilazer is reportedly a prime mover behind attempts to merge ShopClues with another player in the market. The reasons for the current infusion directly into the Indian subsidiary are unclear.
Custom bra startup closes a bridge round
Buttercups, the lingerie startup founded by Arpita Ganesh, closed a bridge round from existing investors.
The startup with an accent on personalized fitting allotted shares amounting to ₹1.22 Cr from eight angel investors - Rajan Anandan, Kanwaljit Singh, Anand Chandrasekaran, Swaroopa Gupta, Arathi Laxman, Ganesh Lankapalli, Jagdeep Kahlon and Chandra Chappidi. Angel platform LetsVenture was also allotted shares worth 2.5 lakhs in this round.
Angle: Repeated bridge rounds signify that the startup has the support of its existing investors (which is good) but also that this specific space has possibly cooled down in VC eyes.
Our take: Its possible that the whole personalized fitting value proposition hasn't really made a dent in sales of lingerie by the large e-commerce platforms. Or that newer funds that promised outlier picks to their LPs aren't taking the risks they possibly should!
Pandorum Technologies raises Series A
The Bangalore-based bio-tech startup, raises ₹21 Cr from Binny Bansal, IAN and other HNIs in what appears to be a Series A round.
Details: Regulatory filings indicate that the company has received ₹7.9 Cr of the ₹21 Cr raise. The startup had earlier raised an angel round of ₹1.99 Cr from Sachin and Binny in 2016.
Founded in 2011 by Arun Chandru and Tuhin Bhowmick, this bio-tech startup focusses on tissue engineering and regenerative medicine. After successfully 3D printing human liver tissues which can be used for medical research, the startup is currently bio-engineering human cornea for implants.
Orios Venture Partners leads pre-series round in PinkBlue
The Bangalore-based clinical supplies provider, has raised ₹5.1 Cr from Orios Venture Partners, Anupam Mittal, Sakate Khaitan of Khaitan Legal Associates and other HNIs in what appears to be a Pre-Series A round.
Details: The company, PinkBlue Supply Solutions Private Limited, has allotted 2150 preference shares of ₹500/- at a premium of ₹23,292/- which is significantly higher that the previous round. Pinkblue had earlier raised a seed round of ₹1.5 Cr in January 2016.
The company has so far raised ₹6.6 Cr.
WebEngage raises via Social Capital’s Capital-as-a-Service
The Mumbai-based marketing automation solutions provider, has raised ₹65 lakhs from Social Capital, a Palo Alto-based VC firm led by Chamath Palihapitiya.
Details: Operated by Webklipper Technologies Private Limited, WebEngage has allotted 5131 Class A equity shares of nominal value ₹10/- at a premium of ₹1258.24/- per share.
The company founded by Avlesh Singh has so far raised ₹10.12Cr.
Some of the other notable investors include Rajan Jei Anandan, Rehan Yar Khan, Blume Ventures, GTI Capital Group, and Faktory Ventures.
What is this: The Capital-as-a-Service or CaaS is Social Capital's attempt at scaling early stage investing by allowing it to make early-stage investment decisions in a semi-automated fashion. In beta right now, the CaaS platform allows users to submit details including specifically their KPIs so that CaaS algorithms surface eligible startups for funding.
What is the BFD?: This is the first CaaS pick in India we have been able to surface. Social Capital does not announce CaaS investments or list them on its portoflio - so we have no known list of Social Capital's CaaS investments in India
Another TimesGroup-Byju’s round
Byju’s has closed what appears to be another ad-for-equity deal with The Times Group (BCCL).
Details: BCCL has been allotted 5 warrants of ₹2.6 Cr each aggregating to a total nominal value of ₹13 Cr. Byju’s has received ₹1.3 Cr of the entire amount. The conversion ratio The warrants convert into shares at the option of BCCL. BCCL was also allotted 10 equity shares of nominal value ₹10/- at a premium of ₹22,893.45/- per share.
We understand: The ads for equity deals are structured as partly paid warrants with a conversion structure dependent on a later financing. We presume the remaining amount will be adjusted against ad purchases by Byju’s - but that is just our guess - nothing on ad buys or adjustments in the documents Byju’s filed with the RoC.
Omidyar Network leads Series A in Pratilipi
The Bangalore-based Indian language e-publishing platform has raised ₹28 Cr from Omidyar Network, Nexus Venture Partners, Contrarian Capital, Times Internet, WEH Ventures, Shunwei Capital and Atul Goel.
Details: Operated by Nasadiya Technologies Private Limited, Pratilipi had kicked off the Series A round with an investment of ₹23.9 Cr from Nexus Venture Partners, Omidyar Network, Contrarian Capital, and Times Internet in December 2017.
The company has so far raised ₹34.86 Cr.
Vernacular surge: Omidyar’s doubling down on Pratilipi is interesting. It comes at a time when a number of funds have started making their picks on the vernacular and content publishing segments. Some like Shunwei simply look for Indian versions of Chinese platforms.
Other Trivia: Atul Goel is the son of Essel Group’s Laxmi Goel and runs its venture capital arm.
Alibaba zooms into BigBasket
BigBasket, the Bangalore-based grocery etailer, closed its much awaited Series E round with a final tally of ₹1250 Cr (~$196M) with Alibaba and its existing investors.
Alibaba contributed a massive ₹927 Cr to this round with existing investors, Abraaj Group (₹284 Cr), Sands Capital (₹6.3 Cr) and IFC (₹33.3 Cr) adding the rest.
Our serious guesstimate is that this gives Alibaba a stake in the range of 7-8% in BigBasket.
With this raise, BigBasket has accumulated a total of ₹2816 Cr for its fight against Grofers, the hyperlocal delivery startup.
In the month of December last year, there were news reports of Alibaba and Paytm Mall investing in BigBasket. Regulatory filings that we retrieved show no signs of such a joint venture.
BCCL invests in CallHealth
Bennett Coleman and Company Limited has made an investment to the tune of ₹32.5 Cr in CallHealth.
CallHealth, a Hyderabad-based healthcare services aggregator founded by Sandhya Raju (former Satyam Computer Services Chairman B Ramalinga Raju's daughter-in-law), has so far raised ₹321 Cr from HNIs including actor Nagarjuna and former badminton player, Gopichand.
Arun Jaitley's niece turns investor with Snackible
Punita Bhargava, Partner at Inventure IP and niece of Finance Minister Arun Jaitley, has invested ₹9.97 Lakhs in Snackible, the Mumbai-based health snacks company.
Operated by LightSaberFoods Ventures Private Limited, Snackible has raised a fresh round of ₹1.4 Cr from HNIs including Ms Bhargava.
The company has issued 1,206 equity shares at a premium of ₹10,278/- per share, which is higher than the last round.
Snackible has raised a total of ₹2.9 Cr from angels and HNIs between 2016 and 2017.
Ola founders put more cash into Tork Motorcycles
Pune-based electric bike startup, Tork Motorcycles, has received ₹1.25 Cr from the Ola founders and Kapil Shelke, founder of Tork.
Kapil has put in ₹80 Lakhs and the balance came from Bhavish and Ankit. Current amount included, the Ola founders have invested ₹ 3.2 Cr in the e-bike startup. The company has raised a total of ₹4.8 Cr.
Founded in 2014 by Kapil Shelke, Tork Motors Private Limited has launched it's first performance bike, T6X and its currently accepting bookings.
Logistics buzzes with activity after Alibaba's first tranche
Xpressbees, the Pune-based logistics arm of FirstCry, has received ₹224.6 Cr out of the promised ₹636 Cr ($100 M) from Alibaba.
Operated by Busybees Logistics Solutions Private Limited, Xpressbees has issued 70, 653 Series D preference shares to Alibaba (though the shares were issued at a price less than the previous round).
Xpressbees has raised a total sum of ₹360 Cr from the likes of Saif Partners, IDG Ventures, Paytm, Vertex Ventures, and Kris Gopalakrishnan's Pratithi Trust.
Blume-backed wedding startup closes a bridge round
The Mumbai-based wedding planning portal has raised ₹98 Lakhs from Dominor Investments LLP, the investment vehicle of Sara Group, Purple Patch Ventures and other individual investors.
The Wedding Brigade (TWB) has so far raised ₹7.9 Cr (Blume's contribution to this pile was ₹3.2 Cr)
Founded in 2014, TWB was incorporated in 2016 as Sitara Digital Ventures Private Limited by Sanna Vohra.
The Wedding Brigade brands itself as a one-stop destination to plan, discover, and shop for Indian weddings.
Uber-backed Ambee raises fresh capital from Spiral Ventures
The Hyderabad-based healthcare transportation solutions provider, has raised ₹48 Lakhs from Japanese VC firm, Spiral Ventures in what appears to be an extended seed round.
Ambee, operated by 1st Consult Technologies Private Limited, has issued 401 Class 'A' equity shares for the amount raised. The company has so far raised a total sum of ~ ₹3 Cr.
Apart from Uber, some of the other notable investors include Capier Investment and the healthcare-centric Ahmedabad-based family office anAmaya Capital.
Furlenco now backed by Mafatlals and Hetero Group
Last month, we had reported on Aamir Khan's investment in Furlenco. The Bangalore-based furniture rental startup continues its fund-raising drive with a debt round from a group of well-known HNIs.
Furlenco has raised ₹10 Cr from Rekha Hrishikesh Mafatlal (Arvind Mafatlal Group), Lakshmi Narayanan - Ex-Vice Chairman of Cognizant, and M Krishna Sindhuri Private Trust (Trust in the name of Hetero Group Chairman Bandi Parthasaradhi Reddy's deceased daughter Krishna Sindhuri).
Furlenco has been on a fundraising spree with most of the recent funding via non-convertible debentures.
In 2017 alone, Furlenco raised ₹62.7 Cr from both current and new investors. Of this raise, venture debt provider Trifecta Capital accounts for only ₹8 Cr
Some of the notable investors in previous rounds include Kris Gopalakrishnan's Pratithi Trust, Lightbox Venture Partners, and Trifecta Capital.
Exclusive: Deutsche Post's DHL's €8M play in FarEye
DHL appears to have made a strategic investment in FarEye, a Delhi-based logistics software company founded by Gaurav Srivastava, Gautam Kumar, and Kushal Nahata.
FarEye, a New Delhi-based logistics management software, appears to have closed a ₹61.5 Crore Series C round solely from a Singapore-based company linked to the Deutsche Post DHL group.
The company issued 73,632 Series C preference shares to a Singapore-based 23i Private Limited. The investment appears to have been led by DHL's SVP and Global Head of M&A, Dietmar Nienstedt.
Operated by Roboticwares Private Limited, FarEye which touts Blue Dart as a client, had earlier raised ₹2 Crores from Indian Angel Network and subsequently another ₹20 Crores from Saif Partners.
FarEye posted a 60% jump in revenues for the year ending March 31, 2017 from the previous financial year. Subscribers of Toolbox can sign in to view a detailed profile of the company including financial metrics over the last three years.
Tracxn's new round - either a bridge or a B
Tracxn, the startup data platform, either closed a fresh round of ₹16 Cr from its existing investors or started the first of a series of B rounds.
The company has allotted what it classified as Series B1 preference shares to its investors on December 20, 2017. The previous 2016 series shares were classified as Series A4 shares. The Series B1 shares carry the same rights as Series A4 shares.
Accel Partners (₹9.6 Cr), SAIF Partners (₹5.3 Cr), WCG International (₹0.2 Cr) and Prime Venture Partners (₹1 Cr) participated in this round.
Hungerbox raises more from Srihari Kumar
Hungerbox, the Bangalore-based B2B food-tech company, appears to have raised an additional ₹ 1 crore from existing investor Srihari Kumar as part of what appears to be a ₹ 6.5 Cr round.
Mr Kumar, an ex-TPG-Axon Capital Management partner who set up Hong Kong-based Lion Rock Capital, has participated in three earlier funding rounds of the startup. Mr Kumar's total investment in HungerBox adds up to ₹ 6.3 Cr (of the ₹ 15.2 Cr raised by the startup till date). In addition to Growth Story founder Srinivas Anumolu, some of the existing notable investors in Hungerbox are Kris Gopalakrishnan, Ramaraj R and Sonia Suresh Vaswani.
Qyuki raises seed funding from Blume Ventures
Qyuki, the multi-channel content platform founded by AR Rahman, Shekhar Kapur and Samir Bangara just received ~ ₹ 2.5 Cr investment from Blume Ventures' overseas and domestic funds, as part of what appears to be a ₹ 5 Cr seed round.
GMO Group invests in LetsTransport
LetsTransport, the mini-truck service aggregator, that raised over ₹6 Cr from the venture arm of the Japanese GMO Internet Group, has now raised ₹ 10 Cr from a set of overseas companies - Flex Inc and CBC Co Ltd (japanese companies) and Singapore-incorporated KC Investments pte ltd.
Zocalo receives more from Ajay Relan.
Zocalo, the property rental marketplace, raised a ₹1 Cr investment from Ajay Relan, former India head of Citi Venture Capital International and chairman of CX Partners. Ajay Relan is also reported to have invested in Rentickle but we cannot confirm this.
Curefit secures fresh inflow of funds.
Curefit, the health and wellness startup founded by ex-Flipkart Mukesh Bansal and Ankit Nagori, has raised ~ ₹ 6 Cr from Bruno Raschle, the managing director of Swiss investment firm Schroder Adveq. Endiya Partners also participated in this round with a ₹ 1 Cr investment.