This week, online automobile marketplace CarDekho.com has secured a $15 million funding, Bangalore and San Francisco based Zendrive has raised $13.5 million (around Rs 91 crore) in Series A funding. There were many other acquisitions and fundings that made the rounds this week. Let’s take a look at some of the news which made headlines in the startup space.
1. CarDekho raises $15 million from Google Capital and others
Online automobile marketplace CarDekho.com has secured a $15 million funding, in a round led by Google Capital and existing investors. According to the sources, besides Google Capital, some existing investors including Hillhouse Capital, also participated in the round. The capital raised will be deployed in expansion within and outside India.
2. Zendrive gets $13.5M to make roads safer by tracking driving behaviors
Bangalore- and San Francisco-based Zendrive Inc, which analyzes data coming off smartphone sensors to gather information on safe driving and focuses on safe driving has raised $13.5 million (around Rs 91 crore) in Series A funding led by Shervin Pishevar of Sherpa Capital, Nyca Partners and Thomvest Ventures. Zendrive’s existing investors First Round Capital, BMW i Ventures, Fontinalis Partners and Tad Montross also put money in this round.
3. On-demand customized product platform Gingercrush raises $1M in pre-Series A funding
Vadodra-based startup Gingercrush, which is a licensed product customization platform, has raised $1million in a Pre-Series A Round of funding, led by Saha Fund. Mohandas Pai’s family office, Zia Mody (AZB Partners), Mumbai Angels, Ananda Kallugadde (NeoAngels), Rakesh Desai & Rakesh Malhotra (SAR Group) also participated in the current round.
4. Healthcare platform Dawailelo raises seed funding, plans for $3M
Varanasi-based startup Dawailelo, an online healthcare platform has raised Rs 35 lakh (around $52,000) in seed funding from two angel investors. The investors included Madhu Gopinath, founder of Opus Group of Companies, and Naveen Nischal, director at Cygnus Medicare. The funding will be used towards upgrading its technology and expansion of its presence.
5. Microsoft acquires keyboard software maker SwiftKey for $250M
Microsoft announced that it had acquired popular software keyboard and productivity app SwiftKey for $250 Million. SwiftKey helps users type faster and more accurately on their smartphones by leveraging Artificial Intelligence and its language prediction technology.
6. Google, Alibaba & Warner Bros backs AR startup Magic Leap with funding of $800M
Florida-based Magic Leap, has raised funding of around $800 million from investors including Alibaba, Warner Bros and Google. Withe the infusion of this fund, the company is now valued at $4.5 billion. The funding will be used to get its product to market faster, and to develop a strategic relationship in the Chinese market.
7. Ethnic etailer Craftsvilla.com acquires logistics provider Sendd for $5M
Mumbai-based Kribha Handicrafts Pvt Ltd, which runs e-commerce marketplace for ethnic products Craftsvilla, has acquired the Mumbai-based virtual logistics startup service provider Sendd for $5 million. Post acquisition, Sendd will continue to operate independently and offer its services to other firms as well. Craftsvilla mentions that it will use the acquisition to strengthen its logistics.
8. Sequoia Capital closes $920 million fund, making its total assets under management in India over $3 billion
Venture fund Sequoia Capital has claimed a new high by closing a new $920 million fund capital, a large portion of which will be invested into Indian Startups. The fresh fund inflow makes Sequoia’s total assets under management more than $3 billion in India. Sequoia Capital, has been an investor in numerous startups and a lot of companies JustDial, Freecharge, Zomato, Oyo Rooms, consider Sequoia as its backer.