Investments, News

#Fundingwire: Apple Invests $1B in Didi Chuxing; Stayzilla Bags $13M in Series C Round & More

Apple has invested $1bn in Didi Chuxing, China’s version of Uber, CEO Tim Cook said on Thursday.

Apple has invested $1bn in Didi Chuxing, China’s version of Uber, CEO Tim Cook said on Thursday.

Apple Invests $1B in Chinese Taxi Service Didi Chuxing

Apple Inc has invested $1 billion in Chinese ride-hailing service Didi Chuxing (Previously Didi Kuaidi), a move that Apple Chief Executive Tim Cook said, would help the company better understand the critical Chinese market.

“We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market,”  said Apple CEO Tim Cook. Read More

Stayzilla Bags $13M in Series C Round of Funding from Matrix Partners and Nexus Ventures

Hotel booking platform Stayzilla has raised over $13 million in a Series C round of funding, led by its existing investors Matrix Partners and Nexus Ventures.

The funding round was split into three tranches of $8.8 million, $1.9 million and $2.4 million, between November 2015 and March 2016. Stayzilla was founded by Yogendra Vasupal, Sachit Singhi and Rupal Yogendra. According to its website, the company currently offers 30,000 stay options, including hotels, lodges, homestays and guest houses across 4,500 cities. Read More

Hindi Language Social Media Startup ShabdaNagari Raises Bridge Funding from Ah! Ventures

ShabdaNagari, a social media start up catering to the niche Hindi content consuming audience, has raised an undisclosed amount of bridge funding from ah! Ventures. Key investors in this round include Yogesh Chaudhary from Jaipur Rugs, Anirudh Damani from Artha Energy Project, Abhimanyu Singh from TaskUs & others

It was founded by Amitesh Misra, Nikhil Tiwari and Amaresh Chandra Misra in January 2015. The niche social media startup has received around 2 lakh unique hits and 8 lakh page views on the platform till date.

Crowdfunding Platform DreamWallets Raises Investment from Rakesh Gupta and Aditya Aggarwal

Founded in July 2015 by Nikhil Agrawal and Manish Harodia, Jaipur-based DreamWallets which is a reward-based online crowdfunding platform, has secured an undisclosed amount of funding in seed round led by Rakesh Gupta and Aditya Aggarwal, with participation from Siddharth Banerjee, Vikas Ranjan, Anshul Jindal, Sunil Koul, and Sanjeev Agrawal.

Dream Wallets provides direct linkages with donors such as corporates, NRIs and individuals. It showcases initiatives on diverse interests relating to short films, documentaries, arts & crafts, social causes, photography, environment, film & video, technology, food, etc. Read More

IOT Startup Einsite Raises Seed Funding from KPCB Edge

Founded by Rajiv and Anirudh Reddy, Einsite, a California-registered firm that designs Internet-of-Things (IoT) based solutions for the construction and mining industries from its development centre in Hyderabad, has reportedly raised an undisclosed amount of seed funding from KPCB Edge.

The absence of a market-ready ‘smart’ solution for industry verticals was the driving force for brothers Rajiv and Anirudh Reddy to start Einsite. Read More

Cab Pooling Startup Derbii Raises Seed Funding

Gurgaon based cab pooling app startup, Derbii has raised an undisclosed amount of seed funding from Accenture Managing Director Anurag Chauhan. It provides carpooling services for office-goers in Delhi NCR.
The company was founded in 2015 by IIT Delhi alumni Gaurav Sinsinwar and Prasenjit Singh, and IIT Roorkee alumnus Akash Chaudhary. Read More

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