DealWire: First Eat Gets $200K; Magicpin Bags $3M and NGP Launches $350M IoT Fund

Food Tech Startup First Eat Raises $200K in Seed Funding

Gurgaon-based food-tech startup First Eat has raised $200,000 in seed funding. The company was founded by Saikat Bagchi, Shitiz Dogra, Mannat Wadehra and Rishabh Tickoo in November 2015. This round was led by an investor whose name has not been disclosed. The raised funding will be used to expand operations in the NCR region and to gain traction on the app.

FirstEat

The startup offers healthy meals through its app, on both on-demand and subscription basis. The app has more than 5000 downloads, and claims to serve 80-100 meals daily. The startup aims to serve 400-500 meals daily by next quarter.

Hyperlocal Discovery Platform Magicpin Raises $3M in Series A Round

Hyperlocal discovery platform, Magicpin which was founded by Anshu Sharma and Brij Bhushan in August 2015, has raised $3 million in a Series A round of funding from Lightspeed India. The startup allows users to search restaurants and events, and interact with merchants in their region as well as also provides real-time promotions, loyalty programmes and content updates.

Magicpin

The company is operational in Delhi-NCR, Jaipur and Bangalore, covering 30,000 merchants.

Nokia Growth Partners launches $350M Internet of Things Fund

Nokia Growth Partners (NGP) has launched a new $350 million fund IV, for investing in IoT companies in the US, Europe, India and China. The fund will be used to make investment in companies around connected enterprise, consumer solutions, connected car and digital health and those focused on big data and analytics.

IoT

The fund IV commitment brings NGP’s total assets under management to over $1 billion, including $500 million available for new investments. It will support Nokia in defining future business opportunities and the technical underpinnings for the growing IoT market.

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