Investments, News

Fundingwire: Uber to Invest $500M in India; Schoolkart Bags $300K; Qikship Bags $200K in Angel Round

Uber to Invest $500M in India by June

As per a report by ET, Uber plans to invest $500 million in India by June. The investment is said to be made in order to take on its biggest Indian rival, Ola.

In June 2015, Uber committed to invest $1 billion in India, a market the company’s founder Travis Kalanick believes, could surpass either the US or China for Uber.

Adding a comment to the news, a senior executive at Uber said, “We are doubling down our resources for India.”

Schoolkart Raises $300K in a Round of Funding, an online marketplace in the school and education products domain, has raised $300k in funding from 12 angel investors.

Founded in December 2014 by Nikhil Sareen, Schoolkart is a marketplace for school uniforms, shoes, stationery, sporting goods, reference books, etc. It works directly with vendors of school supplies and stocks around 25,000 products on its platform. Schoolkart also has an inventory-led model for some products.

Last year, the startup had raised $200,000 from three investors. Read more.

Logistics Startup Qikship Secures $200K in Angel Round of Funding

Delhi-based on demand logistics startup Qikship has raised $200K in an angel round of funding.

Qikship was founded by Vikrant Pathak, Ex IES (IIT Delhi & HEC Paris) and Gaurav Tyagi, Ex Zomato Sales head India in September 2015. It is an App/web based on-demand logistics platform that enables users to ship anything anywhere from the comfort of home/office.

The startup offers services like free pick up and packaging to the customers within 45 minutes. Once a customer places a shipment request, app gives the notification about the estimated delivery of the shipment to destinations with full point to point tracking on the app. Read more.

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