Investments, News

#Fundingwire – AI Startup Mihup Secures $6.7M; Flyrobe Bags $5.3M in Series A & More

#Fundingwire is your dose of notable investment announcements in the technology ecosystem. Firms which have recently raised investment include Renowala, Mihup, Flyrobe, CropIn, Notion Press, InClov, iAugmentor, DayBox, Livspace, Prime Focus Technologies and Paytm.

AI Startup Mihup Secures $6.7M from Accel Partners

Kolkata-based AI driven mobile assistant startup, Mihup, has raised $6.7 million from Accel Partners against a 20% stake.  The product is still under development and the final version is expected to launch in November 2016.

The chat assistant was launched in beta stage in 2014 by Tapan Barman, Biplab Chakraborty and Sandipan Mandal. It presently provides information on travel, sports, news, entertainment, restaurants etc. Read More

Flyrobe Bags $5.3M in Series A Led By IDG Ventures

Mumbai-based fashion rental startup Flyrobe has raised $5.3 million in Series A round of investment. The round was led by IDG Ventures India, and saw participation from Sequoia Capital India and GREE Ventures. The company had previously raised $1.7 million from Sequoia Capital and a few HNIs from the industry in July 2016.

Flyrobe was founded in 2015 by IIT alumni Shreya Mishra, Pranay Surana and Tushar Saxena. It offers a rental marketplace of designer wear and accessories. Read More

Home Improvement Services Platform Renowala Raises Investment Against 6.25% Equity

Hyderabad-based home improvement services marketplace Renowala has raised second round of seed investment from angel investor Pradeep Dhobale. The amount of the investment hasn’t been disclosed, however it was raised against a 6.25% stake.

Renowala was launched in January 2016 by Joshua Kumar, and had raised first round of seed investment in November 2015 from Logtally. Read More

AgriTech Startup CropIn Raises $2M

Bangalore-based farm management solutions maker, CropIn, has raised $2 million in investment from Denmark-based Sophia Investment. The company was valued at $12 million during this round. In April 2014, it had raised Rs 50 lakh in convertible debt from Ankur Capital against a 30% stake.

CropIn (Formerly CropEx) was founded in 2010 by Krishna Kumar. It provides a cloud-based ERP platform for farmers, that also allows them to monitor their crops and yield. Read More

Notion Press Raises $1M in Pre-Series A

Chennai-based self publishing platform, Notion Press, has raised $1 million in Pre-Series A round of investment, from Nat Loganathan and Vikaram Chesetty. The company offers a platform for Indian writers to publish and distribute their books globally, in both print and electronic forms.

Notion Press was founded in 2012 by Naveen Valsakumar, Bhargava Adepalley and Jana Pillay. It claims to have published over 2,000 authors till date. The company is in process of launching its operations in US. Read More

Matchmaking app Inclov Raises Rs 1Cr in Seed Investment

Gurgaon-based matchmaking app startup Inclov has raised Rs 1 crore in seed round of investment from Sarbvir Singh, former MD of Capital 18 and Quintillion Media. The app facilitates matchmaking for the differently abled.

It was founded in 2014 by Kalyani Khona as a matchmaking agency, and the app was launched in January 2015. Shankar Srinivasan joined the firm as a co-founder in 2015. Read More

EdTech Startup iAugmentor Secures Rs 1Cr in Seed Investment

Gurgaon-based EdTech startup iAugmentor has raised Rs 1 crore in seed round of investment from Rajasthan Angel Investor Network and a few other undisclosed investors. The investment will be used in development of new content formats for learning, including games, videos, cartoons etc.

iAugmentor was founded in February 2016 by Pratik Marwah and Sameer Sikka. The company offers personalised learning modules for students by using data analytics tools, artificial intelligence and individual’s psychometric assessments. Read More

Green Grocery Supply Chain Startup DayBox Receives $104K

Delhi-based B2B fruits and vegetables supply chain startup, DayBox, has raised $104,000 in investment from a group of angels. The investors included Myntra Co-Founders Ashutosh Lawania and Rajul Jain; Former Snapdeal exec Badal Malick and 7 others.

DayBox was founded in 2016 by Ankush Goyal, Raman Kumar, Ashish Bibyan and Prabhat Kumar. Read More

Livspace Raises $15M in Series B

Bangalore-based home decor & furnishings marketplace, Livspace, has raised $15 million in series B round of investment. The round saw participation from existing investors Bessemer Venture Partners, Jungle Ventures and Helion Venture Partners.

Livspace was founded in 2012 by Anuj Srivastava, Shagufta Anurag and Ramakant Sharma. It had previously raised $4.6 million in 2014 and $8 million in 2015. It has acquired few startups in similar domain since its inception include –, YoFloor, DezignUp etc. Read More

Prime Focus Technologies Raises $20M from Ambit Pragma

Mumbai-based Prime Focus Technologies (PFT), which builds SaaS products like CLEAR Media ERP, has raised $20 million in first round of external investment. The investment was made by growth capital PE fund Ambit Pragma at a valuation of $200 million.

PFT was founded in 2008 by Ramki Sankaranarayanan. It is the technology subsidiary of media firm Prime Focus. Read More

Paytm Raises $60M from Mediatek at a Valuation of $4.8B

Noida-based One97 Communications, which operates Paytm, has raised an investment of $60 million from Mediatek’s investment arm, Mountain Capital. The investment was reportedly made at a valuation of $4.8 billion, which is almost a two fold increase from the valuation it had raised $680 million from Alibaba in September 2015.

The company is looking to raise $300 million in total in the current round. One97 hived off its eCommerce and Payment Banks arms into two separate entities earlier this month. As per the press announcement, the investment will be used for scaling up payments and commerce verticals, and for building and launching the proposed Paytm Payments Bank. Read More

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