Investments, News

Fundingwire – Wholesalebox Secures $2M in Pre-Series A & 8 More Funding Announcements

Fundingwire is a quick dose of notable funding announcements for the Indian technology ecosystem. Firms which have recently raised investment include Wholesalebox,, TapChief, Kloseby, Servify, Hubilo, Sharechat, Froyofit and Shiksha Finance.

eCommerce Portal Wholesalebox Secures $2M in Pre-Series A

Jaipur-based eCommerce marketplace, Wholesalebox has secured $2 million in a pre-Series A round of investment. The round saw participation from a group of investors including Manish Maheshwari, CEO of Network 18 Digital.

The portal mostly offers unbranded or locally branded goods from traditional wholesalers and traders. It was founded in 2015 by Rohit Dangayach, Chandan Agarwal, Madhur Bhaiya and Rakesh Shekhawat. It claims to have over 350 manufacturers and about 15,000 registered retailers. Read More

Health Insurance Secures Funding

Kolkata-based insurance broking firm Ideal Insurance has raised an undisclosed amount of investment for its venture The investment was made by technology incubator Xelpmoc, at a valuation of Rs 100 crore.

An upgraded version of the portal would be launched on January 1, 2017, and would focus mostly on selling health insurance. Read More

Mentorship & Advisory Platform TapChief Raises Investment

Bangalore-based platform for connecting users with potential mentors & subject matter experts, Tapchief, has secured an undisclosed amount of investment. The group of investors who participated in this round include PayTm, Aprameya Radhakrishna, Subramanya Venkat, and Venk Krishnan, among others.

It was founded in February 2016 by Arjun Krishna Vasisht, Binay Krishna Shivam, Shashank Murali. Read More

Hyperlocal Deal Discovery Platform Kloseby Raises $100K

Bangalore-based, hyper local deals discovery platform, Kloseby, has secured $100,000 in seed round of investment. It helps store owners to attract and engage customers in the proximity by providing a rewards system. It was founded in 2016 by Gaurav Garg and Rahul Sindhu. Read More

Personal Gadgets Management App Servify Raises Investment

Mumbai-based app for gadget management, Servify, has secured an undisclosed amount of investment. The investors who participated in this Pre-Series A round include Beenext, and existing investors Blume Ventures, Barkawi Holdings GmbH and TM Service Technology Holdings GmbH.

Servify was founded by Sreevathsa P in November 2015. Its app acts as a destination for managing bills, warranty status etc. of electronic gadgets Read More

Events Tech Startup Hubilo Secures Angel Funds

Ahmedabad-based event-tech startup, Hubilo, has raised an undisclosed amount of investment led by Freshdesk Founder Girish Mathrubootham. The round saw participation from VC Karthic, Miten Mehta, Umasankar Nistala, Rakesh Patel, Akash Bhavsar, Jeevanandhan Rajagopal, Vikas Chadha, Ameet Rughani, Samad Makani, Avinash Raheja and Ashish Nanda.

Hubilo provides digital solutions for event organisers. It was founded in 2015, by Vaibhav Jain and Mayank Agarwal. Read More

Indigenous Social Networking App Sharechat Raises $4M

Bangalore-based social networking app startup, ShareChat, has raised $4 million in series A round of investment. The round was led by Lightspeed Venture Partners, and saw participation from existing investors SAIF Partners and India Quotient.

ShareChat was founded in 2015 by Farid Ahsan, Ankush Sachdeva and Bhanu Singh. It is available in multiple vernacular languages. Read More

Fitness Centres Discovery Platform Froyofit Raises Funds

Indore-based fitness discovery centres platform, Froyofit has raised an undisclosed amount in Pre-Series A round of investment. The firm which primarily wants to target Tier 2 cities, allows users to search for different fitness centres such as gyms, yoga centres, aerobics classes etc. It was founded in 2015 by Piyush Jain. Read More

Shiksha Finance Secures Rs. 6.7 Cr

Chennai-based NBFC that offers loans to educational institutions, Shiksha Finance, has secured Rs 6.7 crore in investment. The round was led by The Michael & Susan Dell Foundation, and saw participation from Aspada Investment Company.

The firm will invest the funds into building its technology platform, and rolling out more products. Shiksha Finance was founded in 2014. Read More

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