This past week saw a lot of action in the funding sphere. Among the biggest was Gurgaon-based online payment service provider PayU acquiring its rival online payment gateway CitrusPay. The deal was closed at $130 Mn, making it by far the biggest M&A cash deal in Indian fintech.
Other than that big news, there were 10 other startups that saw some funding action this week:
Ideachakki: Delhi-based foodtech venture IdeaChakki raised an undisclosed amount of funding from Ratan Tata. It also partnered with Enablers for their next round of funding. The funds raised will primarily be used for expansion into new geography along with building the in-house team and strengthening the technology.
Findow: Fashion discovery app Findow raised an undisclosed amount of funding from Raj Singh Bhandal, Director, Next Media Works. The funds raised will be used to grow the brand in metros and key Tier II cities. It will also be used to elevate marketing and branding exercises and to reach a wider audience.
Glam Studios: Noida-based chain of standardised salons Glam Studiossecured $299K angel funding from Pradeep Mirani and others. Other investors who participated in the round included Aqeel Ahmed, Anand Ladsariya, Nitin Agarwal. The funding will be used for the company’s expansion, operations, and technology. It also aims at acquiring over 500 salons by the end of the current financial year.
Purple Style: Mumbai-based personal styling startup, Purple Style Labs,raised about $448K seed funding via LetsVenture. The round was led by Augment Ventures and Rahul Kayan (Calcutta Angels Network). Other investors who participated in this round include Nikhil Golcha (Member, Calcutta Angels Network); Operator VC; Shubham Gupta (VP – Sales, Nomura – Singapore); and Roy Kwan (Director of Sales, Deutsche Bank, Hong Kong). The startup will use the funding to further develop technology both on enterprise and end consumer side and increase the number of designers and stylists associated with the company.
KarmaCircles: Peer-to-peer social learning platform, KarmaCirclesraised an undisclosed amount in Seed funding at a valuation of $3 Mn from angel investors. Investors who participated in the round include Harinder Takhar, Zain Raj, Dr. Prasad Kaipa, Abaran Deep, Aseem Sood and Mustafa Patni. The funding will be used to increase user engagement and to roll out the enterprise version of the app.
Poshtick: Noida-based health & wellness startup Poshtick raised $450K funding from two HNIs, Bhavya Sharma and Amit Nagar. The funding will be utilised for product development, developing human resource capabilities and making an effective supply chain mechanism.
CureInstant: Social health networking website Cureinstant raised $150K in Seed funding from Dr. Rameshwar Kumar. The funding will be used to enhance and develop the website’s network of healthtech professionals.
FloCareer: Bengaluru-based talent acquisition startup FloCareer raised $150K Seed funding from senior officials in the technology segment from US and India. Balasubramanian Krishnamurthy, former VP-Engineering of SAP, and Sidhartha Hazarika, a technology evangelist from the US, also participated in this round. The startup will use the funding to build and strengthen its offerings. It aims to become the largest aggregator of crowd mentoring, self-learning and interview offloading.
Zeroinfy: Kolkata-based online study platform Zeroinfy raised an undisclosed amount in Seed funding from Calcutta Angels Network (CAN). In this cash and stock deal, CAN has acquired a 10% stake in the company. The funding will be used for marketing and increasing the company’s outreach to Tier II and Tier III cities. It will also be used to enhance its technology and develop a mobile app. It also plans to add more courses on its platform.
inFeedo: Employee engagement platform, inFeedo, raised an angel round of funding led by Dheeraj Jain, Managing Partner at Redcliffe Capital, a UK-based hedge fund. The startup is planning to close the round at $150K.