For India’s growing startup ecosystem, while on one hand there is a lot of untapped money sloshing around to find its place, on the other hand the number of investment opportunities in high-quality entrepreneurs has dramatically increased the last few years.
We compiled a list of India’s top 10 really high funded startups this month,
1. Ola Cabs
Bengaluru-headquartered cab aggregator Ola has reportedly raised $2 Bn in a fresh funding round led by the investment arm of Chinese Internet giant, Tencent. Existing investor, Softbank Group Corp, also participated in the round.
Tencent has poured nearly $400 Mn into the ride hailing startup, taking the latter’s valuation to $3.8 Bn. Other backers in Ola’s latest financing round include a VC fund jointly run by the University of California’s investment arm, Ratan Tata and a number of US-based institutional investors.
Flipkart recently bolstered its payments arm, PhonePe, with a $38.7 Mn investment. This comes at a time when rival Amazon is gearing up to infuse fresh funding in Amazon Pay.
The development only months after the Jeff Bezos-founded ecommerce giant fuelled $20 Mn (INR 130 Cr) into digital payments entity, Amazon Pay India. As per filings with the Registrar of Companies, Amazon Corporate Holdings Singapore and Amazon.com, Mauritius infused the new capital.
Peer-to-peer car and bike sharing platform Drivezy today announced that it has raised funding of $10 million, led by new and existing investors. This $10 million is in addition to the earlier $6 million raised from Y Combinator, White Unicorn Ventures, Dheeraj Jain, Punit K Goyal, Alok Mittal, Susa Ventures, Qasar Younis, Paul Buchheit, Kima Ventures, Justin Kan, and IT-Farm.
With this fund raise the total funding raised by Drivezy touches $10 million. With the announcement of this fund raise, the platform also announced the launch of its private Initial coin offering (ICO), focussed on the expansion of their peer-to-peer marketplace for cars and bikes.
Zefo, which bills itself as “India’s fastest growing used goods marketplace,” raised $9.2 million in Series B funding. The round was led by returning investors Sequoia India and Helion Venture Partners, with participation by Beenext.
Along with its Series A, which Zefo closed last year, and earlier funding, this brings the startup’s total raised so far to almost $16 million. Zefo currently operates in Bangalore, Mumbai and Delhi and distinguishes itself from other companies in India’s e-commerce boom by focusing on secondhand items in three categories: furniture, home appliances and mobile phones.
Amicus Capital, the growth-stage investment fund co-launched by former Carlyle Group managing director Mahesh Parasuraman, has struck its maiden deal, having invested Rs 60 crore in online insurance aggregator RenewBuy.
This is the second round of fundraising completed by the Gurgaon-based D2C Consulting, which owns and operates RenewBuy. The company had earlier received about $2.5 million in its Series A, which was led by Singapore-based Mount Nathan Advisors, and an undisclosed number of high net worth individuals.
6. Farm Taaza
GS Farm Taaza Produce Pvt. Ltd, a fresh produce supply chain management firm, has raised $8 million (Rs 52 crore) in Series A funding led by Hong Kong-based Epsilon Venture Partners and Tara India Fund IV, which is managed by IL&FS Investment Managers Ltd.
The Bangalore-based company had received $1 million in its seed round from angel investors such as former iGate CEO Phaneesh Murthy and former Asia-Pacific chief of Intel Capital Sudheer Kuppam.
Bengaluru-based micro-lending startup KrazyBee said it had raised $8 million in a Series A round led by Xiaomi Technologies and Chinese venture capital fund Shunwei Capital. The funding raised was a combination of equity and debt, with participation from Essel Group’s E-City Ventures and RK Group.
The funding announcement comes within a year of the firm raising $3 million pre-Series A round in January from Plum Ventures. Prior to this, KrazyBee had raised a seed round of $2 million in May 2016.
Online freight aggregator Blackbuck (Zinka Logistics Solutions Pvt. Ltd) has raised Rs50 crore in venture debt from InnoVen Capital.
Blackbuck will use the capital for expansion of its service offerings. In March, Blackbuck raised $70 million in equity funding from US-based VC firm Sands Capital and World Bank arm International Finance Corp., existing investors Accel Partners and Flipkart Ltd.
Ready-to-cook fresh food solutions brand Fingerlix has raised $7 million in a Series B funding led by Accel Partners and Zephyr Peacock. Fingerlix will utilise the fresh capital to accelerate its growth strategy and expand into newer geographies of Bengaluru, Hyderabad and Chennai in addition to expanding its footprint within the NCR.
It also plans to launch recipe-based offerings in several centre-of-plate categories.
10. Bank Bazaar
Financial marketplace BankBazaar.com raised $30 million in a funding round led by credit reporting agency Experian. This latest round of financing brings BankBazaar’s total funding amount to $110 million.
At present, BankBazaar is live in Singapore, the UAE, Mexico, as well as in the Philippines.