Investments, News

Fundingwire: Jugnoo Bags $10M from Paytm; Rajan Anandan Backs Smytten; Nestaway Raises $30M from Tiger Global

Jugnoo Raises $10M from Paytm and Others in Series B Round of Funding

Chandigarh-based Auto rickshaw aggregator, Jugnoo, has raised a total of $10 million in its second round of Series B funding led by  Paytm.

Paytm has invested $5 million in Jugnoo while the other $5 million has been infused by it’s existing investor, Snow leopard, along with a new investor,

Jugnoo was founded in October 2014 by Samar Singla and Chinmay Agarwal. The startup now has its presence in about 30 cities and 11 villages across the country.  It claims to have a network of around 10,000 auto-rickshaw drivers across India growing at a steady rate. Read more.

Smytten Raises Investment from Rajan Anandan

Gurgaon-based Smytten, an online discovery platform for premium lifestyle products and services, has raised an undisclosed amount as funding from Rajan Anandan, Vice President and Managing Director of Google, South-East Asia and India.

The startup will use this capital for enhancing user experience, product development and expanding both user and brand base. The company is going to pay special attention to artificial intelligence and algorithmically personalise offerings on their platform.

Founded by Siddhartha Nangia and Swagata Sarangi, Smytten is an invitation-only lifestyle platform. Within six months of its inception, the company claims to have over 80 domestic and international brands on its platform.


Nestaway Bags $30 M from Tiger Global

Home rental startup, Nestaway has raised $30 million in a round led by Tiger Global. The company is already backed by IDG Ventures, Flipkart and Ratan Tata.

Founded by Amarendra Sahu, Deepak Dhar, Jitendra Jagadev and Smruti Ranjan Parida in March last year, the company takes a percentage of the monthly rent it generates from the property owners in exchange for offering maintenance and upkeep. There is no brokerage that either the tenant or the owner has to pay in this model.

Nestaway rents homes to over 10,000 tenants across Bangalore, Delhi NCR, Pune, and Hyderabad. The startup is planning to expand to Mumbai and Chennai soon.Read more.

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