Mfine, a yet to be launched doctor consultation startup, has bagged $1.5 million (Rs 9.58 crore) in its first ever funding led by Stellaris Venture Partners. The round also saw participation of seasoned healthcare entrepreneurs Mayur Abhaya & Rohit M.A. As part of the deal, Ritesh Banglani – a partner in Stellaris Venture – will join the board of Novocura Tech Health Services – the parent company of Mfine. Mfine was founded earlier this year by former Myntra employee Prasad Kompalli and co-founder Ashutosh Lawania. They were later joined by Myntra’s CTO Ajit Narayanan, while Bengaluru based neuro-radiologist Dr. Jagadish…
Author: Girish Shetti
A silicon valley based Saas startup Narvar Inc has acquired the Bengaluru headquartered logistic startup GoPigeon for an undisclosed amount. GoPigeon’s largest investor Nexus Venture Partners will become a shareholder in Narvar Inc following this deal. Additionally, GoPigeon’s top management including CEO Deovrat Singh and the entire engineering team will join Narvar after all the necessary due processes are completed. Following the team integration, GoPigeon’s team will help Narvar in consolidating its operations in the fast-growing Asia-Pacific e-commerce market and in other critical markets. GoPigeon was incorporated by IIT Kharagpur alumni Deovrat Singh, Yeshu Singh, and Sourav Sarkar. The…
Fintech startup Lendingkart has hired Mukesh Singh as its new CTO (Chief Technology Officer), according to statement issued by the company. An alumnus from Indian Institute of Management (IIM) Bengaluru, Singh previously worked in SaaS startup SirionLabs and had a brief stint in Bitzer Mobile ( later acquired by Oracle). Singh’s appointment is been seen as a part of Lendingkart’s ongoing overhaul of its top management. Last month, the Fintech startup hired Utsav Mehrotra – an ex- Axis Capital executive – as vice president of capital markets and Abhishek Arora (former executive at Dubai based e-commerce firm Souq) as vice…
Budget hotel chain group Treebo Hotels has raked up $34 million (Rs 220 crore) through Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital, according to a statement issued by the company. The current investors SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also invested in the round. A press note issued by Treebo said that the fresh funds will be used for improving customer experience, consolidating the brand image and in expanding its geographical footprints. Established in 2015, Treebo is one of the many players in the industry that is…
Sequoia Capital and a new investor Sofina SA has led $30 million (Rs 192 crore) Series C funding in Bengaluru based genomics diagnostics startup MedGenome Labs Pvt. Ltd. The existing investor Zodius Capital and other well-known private investors including former Infosys founder Kris Gopalakrishnan & former Cognizant CEO Lakshmi Narayanan also participated in the round. With the latest round of funding, the diagnostics startup has so far managed to raise $54 million through various rounds of funding. MedGenome will be using fresh funds to speed up the process of its affordable diagnostics tests. Additionally, the company will look to raise…
Paytm’s e commerce arm Paytm Mall and its largest investor Alibaba are in talks to pick up significant stake in the online grocery major Bigbasket. The Noida based online marketplace has extended the exclusivity period of their negotiation by another two weeks, according to two people familiar with the matter. The initial 45-day exclusivity period was supposed to expire on August 25. According to reports, Paytm Mall and Alibaba are looking to invest nearly $200 million in Bigbasket. Both are currently carrying out the due diligence to determine the valuation of the online grocery firm, which would determine the amount…
Chennai based Saas startup Freshworks seems to be leaving no stone unturned in seizing good companies through acquisition route. It has now acquired website analytics start-up firm Zarget, marking ninth acquisition for the Chennai based firm in three years. However, financial details of the latest acquisition have not been disclosed, but a statement issued to the media mentioned that Zarget’s angel investors have retrieved their initial investment through this deal. Founded in 2015 by former employees of Zoho Corporation, Zarget helps companies to optimize the conversion rates of their websites. This web analytic firm is also based in Chennai and…
The Bengaluru based health and fitness startup CureFit has lapped up $25 million (Rs 160 crore) in series B funding from its existing investors, according to the statement issued by the company. The existing investors include Accel Partners, IDG Ventures, Kalaari Capital and UC-RNT Fund. Almost one week earlier, various reports in media had suggested that Curefit is looking to raise fresh funds in the range of $25 to 30 mn. Curefit plans to use fresh funds to expand its geographical footprints, including the plan to start its cult fitness center in Gurgoan by October this year. The startup has…
Restaurant solution provider Mobikon has managed to rake up $7 Mn in a Series B funding led by various high profile VC firms including Sistema Asia Fund, C31 Ventures, and Qualgro. The funding also saw participation from existing investors Spring Singapore and Jungle Ventures. Mobikon will be using the funds to further consolidate its operations in existing markets like India, Southeast Asia, and the Middle East. Besides, the startup will use part of the serial B funding to start operations in the UK and Australia by January next year. Mobikon was established by Samir Khadepaun in 2012 as a platform…
Healthcare startup Medinfi has raked up nearly Rs 80 lakhs ($125,000) from various international investors. This is the sixth round of funding for the Bengaluru based startup ever since its launch in 2014. Three of these funding (including the current one) have taken place this year. According to the reports, Medinfi will be using the fresh funds to further expand its customer base to 5 million and extend its network across 50 Indian cities by 2018. The angel investors who participated in the current round of funding are PBS Srinivas from Middle East region, Vinod Martin & Alok Bahl from…
New York based VC giant Tiger Global Management is in advanced talks to lead a $10-15-million of funding in its portfolio company Inshorts, according to two people familiar with the matter. Inshorts is a news media startup that offers quick and rapid news to smartphone millennials, bringing all the important news in mere 60 words. If the Inshorts deal does go through, it will mark Tiger Global’s much awaited comeback into Indian startup ecosystem. It has been well over a year now since the VC giant has made any major investment in any Indian startup. Interestingly, Tiger Global’s much awaited…
Bengaluru and San Francisco based software development community Indiez has raked up $500,000 (around Rs 3.2 crore) in seed funding round from Haresh Chawla, partner in venture capital firm True North (formerly known as India Value Fund). Another unnamed angel investor also participated in the seed funding round. The founders have claimed that they were able seal the deal after a 4 hour long meeting with Haresh and the other partner. Both have reportedly invested in the startup in their personal capacities. The seed funding will come as a real shot in the arm for Indiez, which till now was…