Investments, News

Fundingwire – FinTech Startup Connaizen Raises Angel Investment from Umang Moondra & More

team connaizen investment
Fundingwire is a quick summary of notable investment announcements from the Indian technology ecosystem.

FinTech Startup Connaizen Raises Angel Investment from Umang Moondra

Singapore-headquartered and Delhi-based Connaizen, has raised an undisclosed amount of investment from ex-Citibank Singapore MD, Umang Moondra. The firm helps banks & marketers leverage consumer spending data to target them better. The firm is gearing up to go live with four out of the top 5 private banks in India.

It has additionally tied up with eCommerce platform and offline retailers, to create personalised offers for all of their customers. Connaizen was founded in 2015 by Nikhil Garg, Vikas Bharti, Sanchit Kapoor and Siddhant Punn.

NearGroup Raises Seed Investment from

Delhi-based hyperlocal interaction app, NearGroup, has secured an undisclosed amount of seed investment from Silicon Valley-based The investment is a part of the acceleration program that the firm would be joining in San Francisco. It has built an anonymous chatbot for Facebook, and claims to have 5000+ daily active users for its chatbot, and processes between 300,000 to 1.3 million chats daily. The firm was founded by Prashant Pitti.

Practo Raises $55M in Series D Led By Tencent

Practo has raised $55 million in a Series D round of funding led by Tencent. The round saw participation from RSI Fund, Thrive Capital, ru-Net, and existing investors Sequoia Capital, Matrix Partners, Google Capital, Sofina and Altimeter Capital. This brings the total capital raised by the firm to $179 million. The company was valued between $600-650 million in the current round.

Construction Management Platform QwikSpec Raises $300K

Bangalore-based construction management startup QwikSpec has secured $300,000 in angel round of investment. It allows real estate developers to developers to automate monitoring and supervising of processes in large scale projects. It was founded by Ajith Alexander and Roby Kurien in January 2015.

On Demand Vehicle Maintainance Startup Hoopy Raises $500K

Bangalore-based platform for finding closest garages, Hoopy, has raised $500,000 in angel investment from a group of HNIs. It was founded in April 2016 by Vedic Choubey and Shashank Choubey.

Wedding Services Marketplace Weddingz Raises $1M from Singularity Ventures

Mumbai-based online marketplace for wedding vendors,, has raised over $1 million led by Singularity Ventures, with participation from existing investor Sixth Sense Ventures. It had raised Pre-Series A investment from Sixth Sense in February 2016. It was founded in January 2015 by Sandeep Lodha.

Truck Aggregator Ezytruk Secures $147K in Angel Round

Bangalore-based truck aggregator, Ezytruk, has raised $147,000 in angel investment from Dubai-based Ajith Nair and Anish K. It offers a data driven aggregation platform for the on road goods transportation market. It was founded in November 2015 by Srikanth Maheswarappa and Narasimha BS.

FinTech Firm Gumption Labs Secures $50K from Village Capital

Bangalore-based FinTech firm, Gumption Labs, which operates TradersCockpit and Fund Expert, has secured $50,000 from Village Capital. The amount is a prize of a 3 months program for Fintech ventures conducted by Village Capital, in collaboration with PayPal and BlackRock, where the firm secured the first position. It was founded in 2010 by Anuraag Saboo and Amit Sharda.

Mobile Data Firm Zeotap Raises $12.8M in Series B

Bangalore and Berlin-based mobile data firm Zeotap, has raised $12.8 million in Series B from New Science Ventures (NSV) and Mapping firm Here. The round saw participation from existing investors Capnamic Ventures and Iris Capital. The firm offers an AdTech platform for mobile network operators. It was founded in November 2014 by Daniel Heer, Stephan Schwebe and Projjol Banerjea.

Grocery eCommerce Platform FreshWorld Secures Fresh Investment

Bangalore-based food and vegetable retailing startup, Freshworld has raised an undisclosed amount in funding from a group of angel investors. It had raised Rs 2.9 crore in investment in August 2016. The firm was founded by Rajiv Rao in May 2013.

Parking Solutions App PParkE Raises Seed Round

Bangalore-based parking solutions app firm, PParkE, has raised an undisclosed amount in seed funding from SB Ventures. It is currently part of Brigade Real Estate Accelerator Program (REAP). It claims to have mapped out over 1.6 lakh parking spots across 7 cities in India. The app was launched in December 2015 by Shampa Ganguly and Pritam Ganguly.

B2B O2O Firm Direct Create Raises Investment

New Delhi-based B2B eCommerce platform for handicrafts Direct Create has raised an undisclosed amount of investment from Rajasthan Venture Capital Fund (RVCF). It was founded in April 2015 by Rajeev Lunkad and Sheela Lunkad.

ISP Tikona Digital Secures Commercial Loan Worth $171M

Internet Service Provider Tikona Digital has raised a loan of $171 million from Overseas Private Investment Corporation. It will use the investment to roll out 4G based broadband services across the country. It had secured $45 million in November 2014 from International Finance Corporation, Goldman Sachs, Oak Investment Partners, Everstone Capital Advisors and L&T Infrastructure Finance Co Ltd. The firm was founded in 2008 by Prakash Bajpai.

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