Here is a list of funding deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. OneAssist Consumer Solutions which provides protection for credit cards, smartphones and payment cards in case of loss or theft – has raised Rs 118 crore ($18 million) in its series-C round of funding. The round was led by existing investors Sequoia Capital India along with participation from Lightspeed Venture Partners and New York-based insurance provider Assurant. The round also marks the entry of new investor, UK-based Moonstone Investments.
The company last raised $7.5 million (Rs 48 crore) in its series-B round led by Assurant. The new round pegs the Mumbai based company’s pre-money valuation at about `354 crore as per documents accessed from company research platform Tofler.
2. Mumbai-based social network startup VoxWeb has raised $1 million (Rs 6.6 crore) in its latest round of funding. The company had closed a $350,000 seed round of funding in December 2015. It expects to use the proceeds to further improve its technology platform, and scale up its team.
VoxWeb, which was founded in 2014 by an IIT graduate Yash Mishra, is a mobile-first, special purpose social network that revolves around "speaking-pictures" or voice-augmented photos.
3. Mumbai-based Online lending startup LoanTap has raised $4 million from Kae Capital, India Quotient, IFMR and MAS Finance along with other angel investors, in a round that saw a mix of equity and debt instruments.
The equity infusion of Rs 10 crore was led by Kae Capital with participation from LoanTap’s existing investors including India Quotient. The rest of the capital came in the form of debt from IFMR, Muthoot Finance and MAS Finance. The startup which was launched in May last year, had earlier raised $3 million.
The fresh funds will be used mainly for loan book building. “The capital will be used mainly for onward lending. With this capital infusion, LoanTap is planning to target and give loans to over 5,000 individuals, especially millennials, in the next six months,” said CEO Satyam Kumar.
4. Travel-tech startup ExploreLifeTraveling India Pvt. Ltd has raised its first external round of funding from a clutch of investors.
The seed round saw the participation of Mekin Maheshwari, former head of engineering and chief people officer at Flipkart, former Yahoo and Amazon executive Bharat Vijay, former Facebook and Zynga executive Krish Seshadri, and former Google executive and Infoworks founder Amar Arsikere.
A clutch of angels from Harvard Angels, Cisco, Intel, Qualcomm and Oracle also contributed to this round.
According to VCCircle report, the startup secured a little less than $500,000 (Rs 3.22 crore). The new capital will be used to develop the platform, build the product, and hire more people.