Fundingwire is a quick summary of notable investment announcements from the Indian technology ecosystem.
Digital Enabler for SMEs NowFloats Raises $10M in Series B
Hyderabad-based platform that allows SMEs to create an online presence, NowFloats, has secured $10 million in Series B round of investment. The investment was made by Iron Pillar and IIFL, with participation from existing investors Blume Ventures & Omidyar Network. The SaaS firm claims to have presence across 2,30,000 business. It was founded in 2012 by Jasminder Singh Gulati and Nitin Jain.
Logistics Firm LetsTransport Secures $4M in Series A
Bangalore-based logistics firm, LetsTransport, has raised Rs 27 crore in its Series A round, led by GMO, a Japan-based payment gateway company, with participation from Neelesh Bhatnagar, former CEO, Landmark Arabia. It was founded by Pushkar Singh, Sudarshan Ravi and Ankit Parasher in January 2015, and had last raised $1.3 million in April 2015.
Cuemath Secures $15M from CapitalG & Sequoia India
Bangalore-based eLearning startup Cuemath has raised $15 million in Series B round led by CapitalG, with participation from existing investor Sequoia India. The firm creates gamified solutions for K-8 students at its centers. It had last raised $4 million from Sequoia Capital and Unitus Seed Fund in July 2016. It was founded by Manan Khurma in October 2013.
IoT Enabled Border Security Firm CRON Systems Raises Pre-Series A
Defence IoT Startup CRON Systems, has secured an undisclosed amount of investment in Pre-Series A round from YourNest. It is working on border defence technology solution, and claims to be working with BSF and Indian Army. It was founded in 2015 by Tushar Chhabra, Saurav Agarwala, and Tommy Katzenellenbogen.
Social Network for Sports Fans Khel Now Secures $500K
Delhi-based network for sports fans and related businesses, Khel Now, has raised $500,000 from Thailand-based Indochine International Co. Ltd. It had previously raised $350,000 in investment from Anglian Omega Network in September 2016. It was founded in 2016 John Lee and Dhruv Ratra.
Wholesale Marketplace Wydr Raises Investment
New Delhi-based wholesale mobile marketplace, Wydr, has raised an undisclosed amount of investment from Stellaris Venture Partners, Bessemer Ventures, Jungle Venture and Axis Capital. The company was founded by Shopclues founding team member Devesh Rai in January 2015. And it had raised an undisclosed amount of seed investment from Sandeep Agarwal.
Visual and Interactive Communications Firm Ethosh Raises Investment
Pune-based visual learning & marketing solutions maker, Ethosh, has secured an undisclosed amount of investment from Deepak Nathani, against a 25% stake. The company offers development solutions in interactive product experience, virtual and augmented reality and visual technical learning. It was founded in September 2011 by Jitendra Ashok Dahale and Rahul Arvind Deshpande.
Fitness Centre Aggregator Fitnapp Raises Funding
Mobile marketplace to discover services offered at nearby fitness centres, Fitnapp, has secured an undisclosed amount of investment from SD Group.It has partnered with over 1,500 gyms and fitness studios in Delhi-NCR. It was founded by Akshay Jhinga in 2015.