VENTURE CAPITAL

Jugnoo starts cab-hailing biz as Ola, Uber drivers go on strike

February 13, 2017 | Shruti Jain

SoCoMo Technologies Pvt. Ltd, which runs on-demand delivery services startup and auto rickshaw aggregator Jugnoo, has announced its entry into the taxi aggregation business at a time when key players in the segment are facing drivers’ ire over diminishing incentives and low earnings.

‘Drama’ in media over governance issues very distracting, says Infosys CEO Sikka

February 13, 2017 | Reuters

Infosys Chief Executive Vishal Sikka said talk in the media on concerns over corporate governance at the software services firm was "distracting" and that he had good relations with the firm's founders, including N.R. Narayana Murthy.

Vertex Ventures, others invest in industrial IoT firm Flutura

February 13, 2017 | Varun Arora

Bengaluru-based industrial internet of things (IIoT) startup Flutura Decision Sciences and Analytics, run by Flutura Business Solutions Pvt. Ltd, has raised $7.5 million (around Rs 50.2 crore) in funding led by Vertex Ventures.

Accel, IDG Ventures, others back med-tech startup SigTuple

February 13, 2017 | Binu Paul

Medical-technology startup SigTuple Technologies Pvt. Ltd has raised $5.8 million (around Rs 38.8 crore) in a Series A funding round led by Accel Partners with participation from IDG Ventures, Endiya Partners, pi Ventures, VH Capital and Axilor Partners.

Exclusive: Russia's Sistema anchoring new India-dedicated VC fund

February 13, 2017 | Mansi Taneja

Sistema JSFC plans to float a second fund under the stable of its Sistema Asia Fund to invest in Indian startups, a top executive told VCCircle, as the Russian conglomerate looks to expand its venture capital bets on the country.

Chennai Angels leads funding in auto services startup GoBumpr

February 10, 2017 | Varun Arora

Northerly Automotive Solutions Pvt Ltd, which runs and operates automobile services platform GoBumpr, has raised $300,000 (Rs 2 crore) in a round led by The Chennai Angels.

Nasdaq plans venture arm to back fintech firms

February 10, 2017 | Reuters

Exchange operator Nasdaq Inc (NDAQ.O) plans to set up a venture capital arm to invest in financial technology companies that can help grow its own businesses, two people familiar with the plans told Reuters.

UAE's Al Dhaheri family backs food-tech startup 48East

February 10, 2017 | Dearton Thomas Hector

Bangalore-based Love Food Ventures Pvt Ltd, which runs online food delivery startup 48East, has secured $500,000 (Rs 3.4 crore) in pre-Series A funding from the Al Dhaheri family of the UAE, it said in a press statement.

Exclusive: Former Franklin Templeton exec launches tech-focussed fund

February 10, 2017 | Deepti Chaudhary

Former senior executive director at Franklin Templeton Investments Rajesh Sehgal has upped his bet on tech ventures, going beyond angel investing to launch his own fund that has secured commitments from several well-known investors. 

Costanoa Ventures, SV Angel invest in AI startup Botworx.ai

February 09, 2017 | Disha Sharma

Botworx.ai, a conversational commerce platform, has raised $3 million in seed investment led by Costanoa Ventures with support from SV Angel, according to a post on the company website.

Sistema Asia Fund, others back fashion discovery platform Wooplr

February 09, 2017 | Binu Paul

Wooplr Technologies Pvt. Ltd, which runs an eponymous fashion discovery platform for women, has raised $8 million (around Rs 53.6 crore) in a Series B round of funding from Sistema Asia Fund (SAF), a proprietary fund of Russian conglomerate Sistema JSFC, it said in a statement.

MobiKwik in talks to raise funds, targets $1 bn valuation

February 08, 2017 | Reuters

Indian mobile payments and digital wallet firm MobiKwik says it is in talks to raise more funds at a level that would give the start-up a $1 billion valuation, as it pushes to forge new ties with banks and offer new financial services on its platform.

Angel investors back fleet management firm Mind Your Fleet in bridge round

February 08, 2017 | Varun Arora

Noida-based Kromozones Software Pvt Ltd, which runs and operates fleet management solutions provider Mind Your Fleet, has raised an undisclosed amount in a bridge round of funding from a group of angel investors.

Pi Ventures leads investment in energy management startup Zenatix

February 08, 2017 | Varun Arora

Gurgaon-based Zenatix Solutions Pvt Ltd, an Internet of Things (IoT)-based energy management startup, has raised Rs 8 crore ($1.18 million) led by pi Ventures with participation from existing investor Blume Ventures.

London-based Earlsfield Capital backs travel startup Wandertrails

February 08, 2017 | Disha Sharma

Bangalore-based experiential travel startup Wandertrails Services Pvt Ltd has raised $1 million in seed investment from Earlsfield Capital, a UK-based venture capital firm of entrepreneurs-turned-investors.

Ratan Tata to resume investing in startups this month

February 07, 2017 | Manu P Toms

Tata Sons interim chairman Ratan Tata has said he would go back to investing in startups this month after handing over the reins of the Tata group to N Chandrasekaran, managing director and chief executive of Tata Consultancy Services (TCS), who will formally take over on 23 February.

Exclusive: VentureWorks, others invest in online counselling startup InnerHour

February 07, 2017 | Deepti Chaudhary

InnerHour, an online psychological wellness platform, has raised $450,000 (nearly Rs 3 crore) in its first round of funding from financial advisory firm Batlivala & Karani Securities, investment firm Venture Works and others, a top company official told Techcircle.

RB Investments leads $10-mn round in holiday marketplace TravelTriangle

February 07, 2017 | Shruti Jain

Online travel agent marketplace TravelTriangle has raised $10 million in Series B funding led by Singapore-based RB Investments. The funding round also saw participation from existing investors SAIF Partners and Silicon Valley venture fund Bessemer Venture Partners.

Consulting firm Sathguru raising $100 mn fund, targets first close by June

February 07, 2017 | Debjyoti Roy

Hyderabad-based advisory services firm Sathguru Management Consultants is raising a Rs 673 crore ($100 million) fund that will invest mainly in companies in food and agriculture sectors across the country, a top company executive told VCCircle.

Exclusive: Jaarvis Accelerator invests in hotel solutions provider iManageMyHotel

February 06, 2017 | Arti Singh

Kolkata-headquartered iManageMyHotel Technologies Pvt Ltd, which provides cloud-based property management solutions for mid-sized hotels, has raised an undisclosed amount from Jaarvis Accelerator, a person close to the development told Techcircle.

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