Investments, News

#Fundingwire: Athletto Raises Angel Funding; Didi Chuxing Raises $7B & More


Fundingwire is your quick summary of notable investments made in the technology space. The firms which have recently raised investment include Didi Chuxing, SoundCloud, GrabOnRent, Athletto, Saavn, Greytip, and Silvan 

Athletto Raises Angel Funding

Sports technology platform Athletto has raised an undisclosed angel funding from industrialist Mr. Atul Ingle. It wants to digitize the sports ecosystem and currently provides cloud-based SaaS tool to the sports & fitness facility owners to manage their facility and helps them build and maintain their online presence thus increasing their revenues.

Athletto was founded in April 2015 by IIM-Ahmedabad alumni Ujwal Sutaria and Narayana Vyas, and NITIE alumnus Praveen Gadpayle.

Didi Chuxing Closes $7B Round of Funding

Didi Chuxing has raised additional $4.5 billion in a round of funding that values it at close to $28 billion, giving China’s leading ride-sharing company more firepower to battle Uber Technologies Inc. The round which has closed at $7.3 billion includes investment from Apple, China Life, Ant Financial, as well as existing investors Tencent, Alibaba, China Merchants Bank, and SoftBank.

This round includes Didi’s newly earned valuation would make it the world’s third-largest privately backed young company, surpassing Airbnb Inc. Didi was valued at $16.5 billion last year. Read More

Twitter Invests $70M in SoundCloud

Twitter has invested around $70 million in the music service, as part of a round that should end up in the $100 million-range. The round is expected to value SoundCloud at about $700 million — the same value that investors placed on the company in 2014, when it raised $60 million; since then it has also raised a debt round. This investment will enable SoundCloud to remain focused on building value for creators and listeners alike, and to continue the global rollout of many company initiatives such as our recently launched subscription service, SoundCloud Go. Read More

GrabOnRent Raises Funding Led By IvyCamp

Bengaluru-based GrabOnRent, an on-demand product rental marketplace in India, has secured an undisclosed amount in pre-Series A funding from IvyCap Ventures, with participation from Unicorn India Ventures.

Founded in September 2015, GrabOnRent focuses on connecting rental product suppliers with consumers, facilitating product discovery, quality assurance, smooth payments and logistics support through the platform which otherwise is cumbersome in the offline rental industry. The start-up helps users rent products across categories such as furniture, appliances, cameras, adventure gear and even helps event planners by providing supplies on rent. Read More

Saavn Raises Funding from Guy Oseary

Music streaming service Saavn has raised undisclosed investment from the high-profile US entertainment industry executive & Maverick CEO Guy Oseary. Saavn which had raised $100 million from Tiger Global and others in July last year, had forayed into original audio programming with non-music shows & podcasts in April this year. Read More

Greytip Raises $5.2M from Blume Ventures, New Enterprise Associates

Greytip Software, a Cloud based HR and payroll processing company, has raised a Series B round of funding of  $5.2M from New Enterprise Associates and exiting investor Blume Ventures. Greytip has been a pioneer in developing an SMB-centric solution that is a leader in India already in its space. Read More

Silvan Raises $893K from Infuse Ventures

Home automation solutions provider Silvan Innovation Labs Pvt. Ltd has raised $893,000 (Rs.6 crore) from Infuse Ventures, an investment firm focussed on clean technology, to boost its consumer products range. Founded in 2008 by Avinash Gautam, Giri Krishna, Nandakumar Raghavan and Mohan G., Silvan, provides technology-enabled security and entertainment options across residential, hospitality and commercial sectors. Read More

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