Deals RoundUp: BlackBuck, Flashdoor, MealHopper, Jugnoo, Maiyas, BookMyShow, Fundamentor, Yatra, MobiKwik and Coverfox
Here is a list of 10 companies who have announced their future plans including Jugnoo, BookMyShow, Fundamentor, Yatra, MobiKwik and Coverfox among others
Logistics Startup BlackBuck Scouts For acquisitions in IoT Space
Tiger Global-backed startup BlackBuck, run by Zinka Logistics Solutions Pvt. Ltd, is scouting for acquisitions in the field of Internet of Things and product optimisation. The company is planning to acquire two to three companies to bolster its play in the competitive logistics sector.
The newly appointed CEO of Flipkart’s logistics arm eKart, Saikiran Krishnamurthy has joined the board of BlackBuck. Flipkart is also an investor in the startup, and has a decent stake in it.
Laundry Startup Flashdoor Shuts Down Its Operations
Flashdoor, a Bangalore-based on-demand laundry service platform, has decided to close down operations. The startup had raised funding from former Flipkart executives Ankit Nagori and Sujeet Kumar in November 2015.
The startup experimented with various business models, however the return on investment was not that great. That’s why it pulled down its shutters.
Food Tech Startup MealHopper Reportedly Halts Operations
MealHopper, a startup which connected local cooks with users for homemade meals, has stopped taking orders on its website. However it’s still unclear that the company has completely shut shop or not.
The startup, which began operations last year, had raised $100,000 in seed funding in October 2015, was facing difficulties in raising more funds, operational challenges and various logistical challenges.
Jugnoo Plans to Raise Upto $100M to Fuel Its Expansion Plans
Chandigarh-based autorickshaw aggregator, Jugnoo, is planning to raise between $50-100 million to fuel its expansion plans. The startup is targeting to close the planned round, which will be used to expand into newer markets, in the next three to four months.
Last month, Jugnoo closed a $10 million Series B funding round led by Paytm, which invested $5 million, existing investor Snow Leopard Technology Ventures and Rocketship.vc, a new investor, also participated.
Yatra.com Enters The Cab Booking Services Space
Yatra.com has entered the cab booking services space by partnering with cab aggregators. The company has tied up with inter-city and intra-city cab service providers such as GetmeCab, Carzonrent and Clear Car Rental as well as also in talks with other companies, including those in point-to-point, car pooling and self-drive space.
The services will be provided across 450 cities in the country and the Gurgaon-based company is working with the partner companies on a commission share basis.
BookMyShow Plans to Raise Around $75M
India’s online tickets booking company BookMyShow which is backed by Bigtree Entertainment Pvt. Ltd., is in the process of raising its largest funding round yet of around $75 million. Existing investors including SAIF Partners are understood to have participated in the round, which is likely to close in the next few weeks.
Maiyas Beverages & Foods Gets $30M from Peepul Capital
Maiyas Beverages & Foods has raised $30 million, led by private equity fund Peepul Capital. The latest round of funding will be used to to aid the expansion plans of the company that aims to hit $100-million revenue mark by 2020. Launched four years ago, the company’s products will be spread across snacks, sweets, instant mixes, spices, and ready-to-eat and cook categories.
Edtech Startup Fundamentor Gets Seed Round
Bangalore-based Paratus Knowledge Ventures Pvt. Ltd, which runs edtech startup Fundamentor, has raised seed round from entrepreneur and former venture capitalist Subramanya SV.
The company plans to use the funds to ramp up hiring. Also, it plans to develop the product further and invest in marketing. The startup’s aims to get one million subscribers by 2020. The firm is also in talks with Indian Angel Network (IAN) for additional funds.
MobiKwik Partners with Domino’s Pizza and Burger King for Pan-India Cashless Payments
MobiKwik, India’s mobile payments’ network has partnered with Domino’s and Burger King for cashless payments across their outlets in 200+ Indian cities. With this association, MobiKwik now has enabled cashless payments across 8000 restaurants in India.
Burger King, is an American global chain of fast food restaurants headquartered in United States. The company currently operates 48 stores in India, and is likely to open another 35-40 stores in 2016.
Coverfox.com Launches First of Its Kind Doorstep Claims Service
Coverfox.com, the fastest growing online insurance portal in India, has launched a revolutionary doorstep claims assistance program in Mumbai. Coverfox Express Claims Service not only ensures timely and professional claims support but, with the help of third party auto service providers, also promises to return your car in 3 days.
The company built Express Claims Services to provide doorstep claims assistance through a team of claims specialists and engaging auto-service providers. The service is currently available to New India, Oriental Insurance, Bharti AXA and L&T car insurance customers in Mumbai for select brands of cars (Maruti, Hyundai, Honda, Toyota and Tata). The Coverfox Express Claims Service is now available in Mumbai with plans to spread soon to other cities.
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