Swiggy Raises Additional $7M From Existing Investors NVP, DST & Accel
Bangalore: Swiggy, food ordering app, has raised an additional amount of $7 million from its existing investors Norwest Venture Partners, DST Global and Accel Partners. In January this year the Bangalore-based startup raised $35 million in Series C from New York-based investors Harmony Partners and Singapore-based RB investments.
The funds will further be deployed to deep dive into its eight operational cities and maintain its market leadership position. Founded in 2014 by BITS Pilani alumni Sriharsha Majety, Nandan Reddy and IIT Kharagpur graduate Rahul Jaimini. It claims that its order value has grown over 20 times in the last few months with an average delivery time of 36 minutes per order.
Nearpod Raises $9.2M in Series A
Hallandale: Nearpod, edtech startup, has raised $9.2 million in Series A round of funding led by Reach Capital. The startup offers a mobile app that enables teachers to create and share interactive multimedia presentations with their students. CEO Guido Kovalskys said, “Seventy to eighty percent of high school students in the U.S. have their own smartphone. And forty percent of students have some sort of access to mobile devices in class through school programs alone.”
The lessons feel like interactive stories, projects or mobile games, typically. But they give teachers a view on students’ mastery or struggles with particular topics.
MKS Instruments Lead the Round For Reno Subsystems
Halifax: MKS Instruments, provider of instruments, subsystems and process control solutions, has led a round of funding for Reno Subsystems, investing $9.3 million as a part of $14 million series B. The round also saw participation from existing investors Intel Capital and a leading OEM equipment supplier.
MKS Instruments’ Chief Executive Officer and President, Gerald Colella added, “We were impressed by the technology being developed by Reno and were drawn to the opportunity to invest in a proven team of engineers and technologists, alongside two industry leaders in semiconductor process technology, to advance technology that could be an enabler in our core markets. We see exciting potential for Reno.”
Reno Sub-Systems, Inc. has developed new technologies for the semiconductor and advanced microelectronic industries. Leveraging its patented technologies, Reno has demonstrated the radio frequency (RF) matching networks, RF power generators and gas delivery systems for leading-edge nanoscale manufacturing processes.
Chehejia Raises $120M in Series A to Disrupt the Transportation Market
Beijing: Chehejia, formed to create a new urban transport for the future of energy, products, services, ecology, has raised $120 million in Series A round of funding led by LEO. The round also saw participation from a group of investors and Source Code Capital, Plum Ventures, a Changzhou government investment fund, and more. The funds will further be deployed on R&D and the construction of a manufacturing plant.
Chehejia is a Beijing based electric vehicle startup which plans to disrupt the transportation market and auto industry through complete vertical integration. It will design, research, manufacture, sell, and offer services featuring a few models of electric vehicle: a small smart car for inner city trips, and a larger electric SUV for longer crosstown journeys.