Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Bengaluru-based seed-stage investor StartupXseed Ventures LLP is looking to close its maiden fund with a target of Rs 100 crore in the next few months. In addition to the five companies it has in its portfolio, the early-stage fund is also in the process of closing two more investment deals in the next two months, BV Naidu, Managing Partner, StartupXseed told DealStreetAsia. Founded in June 2015, StartupXseed’s current portfolio includes ShieldSquare, Aarav Unmanned Systems, Airwood Aerostructures, Darwinbox HR Technology and Analytics platform and Siliconch Systems.
2. Unicorn India Ventures will achieve the final close of its Rs 100 crore fund before the end of this quarter. This is the first fund from Unicorn, founded by Anil Joshi and Bhaskar Majumdar in 2016. The company had announced the first close of Rs 40 crore in January 2016. Since then, Unicorn has been making early-stage investments in startups in India and the UK. “We have received commitments of Rs100 crore for the final close. We are in the process of closing the documentation for the same, which is expected to take a few weeks from now,” said Anil Joshi, who previously headed operations at individual investor group Mumbai Angels. Unicorn has received commitments from institutional investors, high-net-worth individuals and family offices.
3. Hyderabad-based wedding services provider AppilyEver.com has pivoted to become an online fashion portal called Estrolo, reported VCCircle.
The company pivoted in January-February this year, without any changes in the parent entity or founding team.
“When we were a wedding services provider, wedding fashion was also a crucial part of it. However, we saw a much larger opportunity in the fashion space. Besides, offering a product is a stronger business proposition than offering services,” Estrolo co-founder Rakesh Gupta said.
Estrolo sells fashion products under its own brand, and claims to offer over 300 styles across categories like t-shirts and jeans. More category launches are in the offing, Gupta added.