This week, auto aggregator Jugnoo received funding of $10 million. Razorpay and Roadrunnr both raising big funding to fuel their growth. There were other acquisitions and fundings that made the rounds this week. Lets take a look at some of the news which made headlines in the startup space.
1. Autorickshaw aggregator Jugnoo receives $10M funding from Paytm
Chandigarh based Autorickshaw aggregator Jugnoo receives USD 10 million funding from Paytm. Three months back the startup closed Series A round of $5 million led by Snow Leopard with participation from Paytm.
2. General Atlantic leading an upto $20 million investment in BillDesk
As part of recent developments, Global Private Equity giant General Atlantic (GA) is leading a massive investment of upto $200 million investment in BillDesk. This move comes in the backdrop of ever expanding internet penetration and growing e-commerce adopting boost digital payments in India.
3. Online test prep startup Toppr raises $2 million in venture-debt from InnoVen Capital
Mumbai-based Haygot Education Pvt Ltd, which runs digital ed-tech startup Toppr.com, an online platform that helps students prepare for entrance tests and board exams has raised $2 million from venture-debt provider InnoVen Capital. The company plans to use the raised capital for the acquisitions that are lined ahead and also for technological developments and partnerships.
4. TinyOwl raises Rs 50 crore from Sequoia Capital and Matrix Partners
Food ordering platform, based out of Bengaluru – TinyOwl has raised Rs 50 crore from existing investors. This round was led by Sequoia Capital and Matrix Partners. This funding comes in at a much needed time when the startup was planning to restructure and cut costs.
5. Origa leasing raises $1M from ah!Ventures and 500 Startups
Mumbai-based asset financing company ORIGA Leasing has raised over $1 Mn (INR 7 Cr) from ah! Ventures, 500 Startups and a consortium of high profile investors. The startup plans to use the funds towards leasing of assets, people and technology in order to democratise the way SMEs procure and manage assets in India to have a high capex.
6. Grofers acquires logistics service provider Townrush, SpoonJoy
The Gurgaon-based Hyper-local grocery and fresh food delivery platform Grofers, has acquired Bangalore-based food delivery app SpoonJoy and the B2B logistics startup Townrush for an undisclosed amount. This acquisition is essentially an acqui-hire, and that Townrush will cease to exist as an independent entity.
7. Payment gateway Razorpay raises Rs 58 crore in funding led by Tiger global
Bengaluru based payment gateway Razorpay has raised around Rs 58 crore in series A round led by Tiger Global. Matrix Partners also participated in this round. The funding will be used to enhance the product and also fuel the entry plans into other segments of the payment industry.
8. Roadrunnr raises Rs 65 Cr from Sequoia Capital and Nexus Ventures
The Bengaluru based hyperlocal delivery startup Roadrunnr has raised about Rs 65 crore from its internal investors Sequoia Capital and Nexus Ventures. The company very interestingly partners with students, drivers and others who can work with Roadrunnr on a part time basis. Anyone who is greater than 21 years of age, has his own vehicle with a valid licence and insurance can be a runner.
9. Pharma Marketplace Netmeds closes $50M funding led by OrbiMed
Net-Meds Marketplace Pvt Ltd, which runs online pharmacy venture under Netmeds.com announced that it has closed a funding round of USD 50 million (about Rs 325 crore) in tranched financing, led by healthcare focused investment firm OrbiMed.
10. On-demand expertise marketplace “Flexing It” grabs $500K in angel funding
New Delhi based startup, Flexing It™ which deals with on-demand expertise marketplace has raised USD 500,000 in angel funding from private investors. The funding will be used towards scaling out its operation across India and other geographies where there is huge demand for such service. Also, it will help in scaling its development and marketing to strengthen the product.