- Making it this week’s biggest Indian startup funding mobile gaming company Nazara Technologies raised $51 Mn in a funding round led by IIFL Special Opportunities Fund.
- Also, the Japanese conglomerate, along with Flipkart and Tencent, is gearing up for a $200 Mn-$250 Mn investment in foodtech startup, Swiggy. If successful, the investment would likely take place at a pre-money valuation of $600 Mn-$650 Mn.
Indian Startup Funding Of The Week:
Smaash: Sachin Tendulkar backed virtual reality gaming and entertainment company Smaaash raised $3.8 Mn (INR 25 Cr) from Mumbai-based consumer-centric VC firm, Sixth Sense Ventures.With the newly-secured investment, Smaaash is aiming to strengthen its physical presence in domestic as well as international markets. A portion of the financing will also be spent on making its augmented reality technology ready for the booming online gaming market.
Chumbak: Bengaluru-based design-led lifestyle brand Chumbak secured $13.1 Mn (INR 85 Cr) funding from mid-market private equity firm, Gaja Capital, along with existing backers Matrix Partners India and Seedfund. Narayan Ramachandran, the Operating Partner at Gaja Capital, also joined the funding round in Chumbak.
MobieFit: Mobile fitness startup Mobiefit raised $1.35 Mn (INR 8.85 Cr) in a Pre-Series A funding round led by NB Ventures and existing investor, MediAssist India. The investment follows the startup’s Seed round of $1 Mn in December 2015.
Befikr: Delhi NCR-based hyperlocal services provider befikr raised about $2 Mn in Series A funding round from undisclosed investors. The newly raised funding will be used towards the expansion of befikr’s services in Delhi-NCR and Pune region. The funding will further help the company to strengthen its current technology infrastructure and also be employed for brand building.
Passion Gaming: Passion Gaming, which owns and operates online gaming startup RummyPassion raised $3.75 Mnfunding in an all-cash deal from UK-based Stride Gaming. As part of the deal, the online gaming company has divested 51% stake in itself to Stride Gaming. The funding will enable Passion Gaming to achieve faster growth and will be utilised to strengthen its marketing, technology and customer service teams.
Stanza Living: New Delhi-based student accommodation platform Stanza Living raised $2 Mn in funding from investment firms Matrix Partners and California-headquartered Accel Partners. The startup will be utilising the fresh capital to expand its presence in new cities and further develop its technology platform. A portion of the funding will also be spent on talent acquisition.
Uniphore Software Systems: Chennai-based IT startup Uniphore Software Systems closed its series B round of funding led by the Executive Chairman of Cisco and the newly made US-India Strategic Partnership Forum (USISPF), John Chambers, in his personal capacity and the existing investor IDG Ventures. This is the first startup-investment of Chambers outside the US.
HolaChef: Mumbai-based food delivery startup Holachef raised a fresh capital through a mix of equity and debt from Rajasthan-based software publishing and consultancy firm IPI Technolab Pvt. Ltd. and Innoven Capital, the venture debt arm of Singapore Government’s sovereign fund Temasek.
Raybaby: Hyderabad-based artificial intelligence startup Raybaby raised around $1 Mn funding from Anthill Ventures. Raybaby, promoted by three Bengaluru-based women entrepreneurs and registered in the US, was supported by Johnson & Johnson in the product development stage and recently teamed up with US retailer Target for marketing its products.
KrishiHub: UP-based agritech startup KrishiHub raisedundisclosed seed funding from IIT Kanpur INVENT accelerator and Villgro Innovation Fund along with a few angel investors and HNIs. With this round of funding, KrishiHub plans to expand its operations aggressively across Delhi-NCR, add more businesses to its customer portfolio and increase its farmer base in more states