Fundingwire: Goldman Sachs Backs Persado, Raises $500k From Ninestarter & More Raises $500k in Seed Round From Ninestarter

Bangalore: Online bike service and repair startup,, has raised $500,000 in a seed round from an early stage investment firm Ninestarter. Founded by Rakesh Vaddadi, Srikanth Nelakuditi, Kumud Kumar and Harrsha Chaittanya in 2016, this Bangalore-based startup is an online motorcycle repair and maintenance service that helps in easing the bike maintenance troubles.

Funds will be used in marketing, expanding the customer base and bringing on board more service centers to increase reach in city. The company claims to have completed 1500 orders in three months.

Blume Ventures, Barkawi Holdings Invest in Mumbai-based Startup Servify

Mumbai: Mumbai-based startup Servify has raised an undisclosed amount of funding in a round from Blume Ventures, Germany’s Barkawi Holdings GmbH and TM Service Technology Holdings GmbH.

Founded by Sreevathsa Prabhakar in 2015, the startup allows consumers to add their household electronic products and appliances, store the bills, and access authentic brand authorized service during the warranty period and as well as out of warranty scenarios. The app is currently available on Android and iOS platforms.

On the same, Prabhakar added, “We are aiming to work as customer’s personal assistant when they need any support for their electronic gadgets and appliances as our app enables users to add all their household devices, upload bills and invoices, access brand authorized service with few clicks and help them track the status of the service request till its closure.”

FundingWire: Aahaa ($1M, Pre-Series A), Civilsdaily (Seed), Tinystep (Angel)

Entertainment Portal Hungama Raises $25M From Xiaomi

Mumbai: Hungama, entertainment portal, has raised an investment of $25 million in a round led by Xiaomi, along with existing investors Intel Capital, Bessemer Venture Partners and financial investor, Rakesh Jhunjhunwala.

Hungama is a pioneer in digital media entertainment since its inception 17 years ago. The company has constantly innovated and delivered differentiated, premium audio and video content to its consumers across web and mobile platforms. Hungama has over 65mn monthly active users across all its platforms, consuming a content base of over 3.5mn premium digital units across audio and video.

Goldman Sachs Backs Content Generation Startup Persado

New York: Persado, content generation startup, has raised $30 million in Series C led by Goldman Sachs. The round also saw participation from its existing investors Bain Capital Ventures, StarVest Partners, American Express Ventures, and Citi Ventures.

Founded by Alex Vratskides, Guy Krief and Assaf Baciu, the startup combines natural language processing and machine learning algorithms to generate the precise combination of words, phrases, and images that can help to motivate any audience, at scale and in real time. It generates this ‘cognitive content’ for use in display ads, Facebook, email, website landing pages, SMS, and mobile push notifications

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