Investments, News

Ola Invests Rs 200 Cr to Enable CNG Vehicle Adoption, BigBasket Grabs $150M From Dubai-based VC & More

Ola to Invest Rs 200 Crore to Enable CNG vehicle adoption in the Capital Region

Ola plans to invest Rs 200 crore to enable compressed natural gas (CNG) vehicle adoption in Delhi-NCR over the next six months.

As per the statement released by the company, Ola’s current CNG fleet in Delhi-NCR is over 26,000 cabs, and it plans to continue more programmes to help drivers switch to CNG vehicles, and aims to add another 2,000 CNG cars across its micro, mini and prime categories.

Commenting on the news, Delhi Tourism Minister, Kapil Mishra stated, “Ola is bringing about a green change in Delhi by helping drivers register with them and make a hassle free transition to CNG vehicles. Transportation is important for citizens as well as for tourism in the state and a world class experience can be built only by such investment in skilling, training and entrepreneurship for drivers who are the service providers.”

Dubai’s Abraaj Group Invests $150M in BigBasket

Online grocer BigBasket raised $150 million in funding led by Dubai’s Abraaj Group, as it seeks to establish its turf through expansions and by strengthening its express delivery service to overcome competitions from younger rivals.

As per ET, the company raised the money at a valuation of about $500 million, which would make it India’s most valuable eCommerce firm focused on a specific category such as grocery or fashion. BigBasket was previously estimated to be worth about $320 million before it raised money from Sands Capital and GIC, shows filings submitted with the Ministry of Corporate Affairs on November 30. The company did not comment on its present valuation.

FundingFresh To Home- online Marketplace for Seafood and Meat Bags Angel Fund

Bangalore-based online marketplace for seafood and meat, Fresh To Home has raised an undisclosed amount in angel round from a group of high profile investors including Rajan Anandan, Mark Pincus of Zynga, former India head of Softbank Capital Pavan Ongole and Timothy Flaherty, co-founder of Silver Creek Capital Management.

The marketplace has launched same day delivery across 100 locations in Bangalore. Launched in August 2015, the company as registered 20,000 users in the last six months. Read more.

IAN & CAN Invest Rs 2 Cr in SP Robotics

Indian Angel Network (IAN), an angel group, has invested Rs 2 crore in Chennai-based startup SP Robotic Works which provides robotic education to schools under the brand name of KIDOBOTIKZ. Nagaraja Prakasam has led this round on behalf of IAN and will also join the board of company where Rajesh Navaneetham and M.V.Subramanian would also be leading this round from IAN. The Chennai Angels (TCA) were also seen participating in the round.

Founded by Pranavan and Sneha Priya in August 2012, the startup is a skill development company focused on robotic based training to school and college students.

WheelStreet Raises $500,000 from Broadbean Capital Services

Bangalore-based startup WheelStreet has raised $500,000 in a round from Broadbean Capital services, an early-stage seed fund.

Founded by Pranay Shrivastava, Moksha Srivastava and Mritunjay Kumar, Wheelstreet works as an online bike rental platform. The company doesn’t own any inventory, rather signs up with vendors, who are already in the market and provides these vendors an online platform to get audience. The company is basically dealing as an aggregator between the users and bike rental companies.

Endless Robotics Raise $100K from startup investment platform

Endless Robotics, Hyderabad-based startup, has raised $100,000 in a seed round of funding on startup investment platform The round also saw participation from angel investors and angel investment fund based in India, US and Singapore.

Founded in 2015 the startup develops robots and provide automation solutions to builders, real-estate developers and infrastructure companies.

Germany-based Venture fund Invests in StalkBuyLove

StalkBuyLove, an online fashion portal, has raised an undisclosed amount of funding from Germany-based venture fund Littlerock, 500startups, Singularity Ventures and other investors.

Founded by Tushar Ahluwalia, Nishrit Srivastva, Aashna Chopra and Shikha Ahluwalia in 2013, StalkBuyLove is an online fashion portal that caters to young women through its website and mobile app.

Healthcare Startup eKincare Secures $329,000 in Pre-Series A

Health-tech startup, eKincare, has raised $329,000 in Pre-Series A round of funding from Bitkemy Ventures, Maheshwari Investment, Anshoo Gaur, RamaKrishna Reddy and Sandeep Seerapu.

Founded by Kiran Kalakuntla in 2014, this Hyderabad-based startup is a cloud-based medical storage startup, where a user can record his medical history. Further, this helps online doctors to access the condition and treat the problem effectively.

Drivojoy Raises Funding From IAN, Tessellate Ventures, Equity Crest and Tracxn Labs

Two wheeler repair service, Drivojoy, has raised $600,000 in Pre-Series A led by Indian Angels Network. The round also saw participation from Tessellate Ventures, Equity Crest and Tracxn Labs. Shailesh Rao (VP, twitter and Ex-MD, Google India), Kunal Shah (Founder, Freecharge), Bhavani Rana (Partner, Amadeus Capital), Deepak Gupta (co-founder, EquityCrest) also entered the investors list.

Founded by Aman Singhal, Ravindra A and Vishwanath Kollapudi in 2015, DrivoJoy, aims to transform the two-wheeler servicing and repair industry by bringing mechanics at the user’s doorstep.

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