India Funding: Airbnb Closes $1B; Instacart Bags $400M; AppBrowzer Raises $500K & More

Bangalore-based early stage venture fund Ideaspring Capital has invested $600,000 (Rs 4 crore) in enterprise networking startup Lavelle Networks Pvt Ltd.

Airbnb Closes $1B Series F Funding Round at $31B Valuation

Airbnb has closed its Series F funding round raising roughly $450 million taking their total Series F to $1,003,312,065 at a valuation of $31 billion, according to a SEC filing that dropped on Thursday. The online community marketplace to list, discover, and book accommodations, had added a $555 million funding in this Series F round led by Google Capital in September 2016.

The company also turned profitable in the second quarter of 2016 and also expects to be profitable this year. Also the firm has no plans to go public soon. Since its start in 2008, Airbnb has raised more than $3 billion.

Grocery Delivery Startup Instacart Bags $400M Funding at $3.4B Valuation

Grocery delivery service Instacart has raised $400 million in its latest financing round. The funding round was led by Sequoia Capital in participation with Andreessen Horowitz, Y Combinator Continuity, Kleiner Perkins Caufield & Byers, Wellcome Trust, FundersClub, Khosla Ventures, Initialized Capital, Thrive Capital and Valiant Capital. The company says it operates in 35 markets and plans to double its footprint this year. Till date, the company raised more than $600 million from investors including Andreessen Horowitz, Whole Foods, Khosla Ventures and Kleiner Perkins Caufield and Byers.

Mobile App Store AppBrowzer Raises $500K from Deepak Gurnani, Others

Bangalore-based Roid Technologies Pvt Ltd, which operates instant mobile app store AppBrowzer, has raised $500,000 led by Deepak Gurnani, a member of Singapore Angel Network. A group of angel investors also participated in the round.

Deepak, a distributor and producer of Indian movies, has invested in about a dozen startups across the globe. This is his maiden startup investment in India, reported VCCircle.

Ideaspring Invests $600K in Enterprise Networking Startup Lavelle Networks

Bangalore-based early stage venture fund Ideaspring Capital has invested $600,000 (Rs 4 crore) in enterprise networking startup Lavelle Networks Pvt Ltd. The firm will use the funds to expand its operations and for marketing. Lavelle Networks was one of the 14 firms selected by Microsoft Ventures for its 2017 summer accelerator programme.

This is Ideaspring Capital’s second investment. Last week, the fund invested $500,000 (Rs 3.5 crore) in Chennai-based Karomi, which offers software for packaging artwork management.

PayPal Invests $48M in Korean Financial Services App Toss

Viva Republica backed Korean financial services app Toss, has closed a $48 million Series C funding from payment giant PayPal in participation with Goodwater Capital, Bessemer Venture Partners, Altos Ventures and Partech Ventures. Toss had previously raised $29 million in earlier funding.

The deal is PayPal’s second investment this year. Recently it backed health startup Virta — but the round was led by San Mateo-based VC firm Goodwater Capital.

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