Fundingwire: Chinese Investors Back Milkbasket; Nandan Nilekani Funds RailYatri & More

Grocery eCommerce Company Milkbasket Raises $500k from EVC Ventures and a Group of Chinese Investors

Milkbasket, a subscription based micro-delivery eCommerce company has raised $500k in pre-series A funding  led by EVC Ventures with participation from Zhu Dao Investments; Peter Zou, Partner Beam Capital VC & CEO of YeahMobi; Vikas Banga & Manav Kamboj of Snapdeal.

Milkbasket is an asset light, tech intensive, micro-delivery service fulfilling daily grocery and household needs of customers every morning, with a 100% in-house last mile logistics solution. In addition to creating a recurring order for anything from milk to fresh fruits, a user can place/modify the orders till midnight for a guaranteed early morning 7:00 am doorstep delivery, Milkbasket also claims to have over 99% order fulfillment rate.

Founded by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia in early 2015, Milkbasket is currently serving across 15 clusters in Gurgaon, each cluster with a user base of around 500, as claimed by the company. Starting with only milk delivery, Milkbasket now offers over 3000+ products through a hybrid inventory model to maximize product margins while controlling costs.

RailYatri.in Raises Investment from Nandan Nilekani

Nandan Nilekani, co-founder Infosys and former Chairman of UIDAI, has made an undisclosed amount of investment in RailYatri.in, an India-based technology startup which provides solution to train travelers.

Founded by Kapil Raizada, SachinSaxena and Manish Rathi, RailYatri.in is an app that uses deep-analytics technology to make intelligent predictions that help travelers make smart decisions for their upcoming travel. It uses a traveler’s mobile GPS to predict things like delay, coach position, on-time history of a train, if your wait listed ticket would get confirmed etc.

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The startup’s recent foray into digital transactional marketplace customized around train travel is now enabling travelers book essential services such as premium onboard meals; bus tickets, budget rooms, etc. The company says that it plans to launch an array of other services soon, which will make its app a one-stop destination for travelers in India.

ClearTax Raises $1.3M from Silicon Valley Angels, Including PayPal Co-founder Max Levchin

Income tax returns e-filing website ClearTax has secured an angel investment of $1.3 million from top Silicon Valley angels, including PayPal co-founder Max Levchin, Scott and Cyan Banister, who are serial investors in ventures such as, Uber, SpaceX, Postmates and Zappos,  WhatsApps’ business head Neeraj Arora; AngelList Founder and CEO Naval Ravikant; Dropbox VP Ruchi Sanghvi; Y Combinator alumni Sumon Sadhu and Flexport’s Founder and CEO Ryan Petersen.

The company will use the investment to better its technology to further simplify the process of tax filing.

Founded in 2011 by Archit Gupta along with his father Raja Ram Gupta, Srivatsan Chari and Ankit Solanki, ClearTax was the fourth Indian start-up to be funded by Y Combinator, and the first one which focused on the Indian market.

vCommission Invests in LetReach and Spinsvilla

vCommission, India’s First International CPA Network that aims at delivering quality traffic for performance based advertising worldwide in digital advertising industry, has reportedly invested in LetReach and Spinsvilla. As per the deal, both companies’ operations will be monitored by vCommission’s management.

The accelerator aim is to help startups working in ad-tech, with funding and mentorship at various stages, through an accelerator program designed to support the upcoming ventures in the digital industry.

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Delhi Angels backed LetReach, is a New Delhi-based push notification tool for websites that ensures enhanced efforts to maximize reach to desired consumers for a brand. It is basically a re-engagement channel that enables marketers to re-engage their users with push notifications, even when they are not on their website. As per data available, over 2,300+ websites are using such tools to grow their business.

Spinsvilla, on the other hand, is a UK based entertainment gambling website.The online casino offers great bonuses and classic casino games online and customer service to all its users. The company is not yet operative in India.

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