Meet 6 Startups in Which Blume Ventures Invested This Year
Founded in 2010, Blume Ventures is an early stage venture fund that backs startups with both fundings as well as active mentoring and support. The fund’s portfolio consists of more than 70 active companies including Grey Orange Robotics, Unacademy, Tricog Health, Locus, Healthifyme, Mettl, Exotel, Belong, Instamojo, and many more. Below is a list of Indian startups who have raised funding from Blume Ventures this year.
Kaleidofin (raised Seed Round in April 2018)
Chennai-based fintech startup Kaleidofin, which provides tailored financial solutions to those in the informal sector, has raised about Rs 18 crore ($2.8 million) in a seed round led by Omidyar Network earlier this month. Early-stage venture capital firm Blume Venture and individual investors, including Shlomo Ben-Haim, an Israeli serial entrepreneur and investor, also participated in this round. This is Ben-Haim's first investment in India. Founded by Sucharita Mukherjee and Puneet Gupta, former IFMR Holdings CEO and CFO respectively, Kaleidofin will use the money to grow its customer base pan-India, tie up with more banks and financial institutions and to invest in technology and analytics.
BeatO (raised an institutional round in April 2018)
BeatO (short for beating the ring ‘O’ of Diabetes), a comprehensive platform dedicated to improving the lives of those living with diabetes has raised an institutional round of $1.3 million led by Leo Capital and co-led by Blume ventures earlier this month. The startup aims to utilise the raised funds to scale up the production and focus on better technology and innovations and distribution network. Delhi-based BeatO is a full stack platform for people living with diabetes that was started in September 2015 by Gautam Chopra, Yash Sehgal and Abhishek Kumar.
FastFox (raised Series A in Feb 2018)
Gurgaon-based home rental startup FastFox has raised Rs 10 crore from Lightspeed, Blume Ventures and others in a Series A1 round. One of its co-founders Pallav Pandey has also contributed Rs 1.93 crore in the fresh round. In 2016, FastFox had raised Rs 30 crore from the same investors in a Series A and it raised Rs 6 crore from Lightspeed Ventures in July 2015. Founded in November 2014 by Pallav Pandey and Mukul Bhati, FastFox claims to have more than 2,500 home listings available for rent. It also plans to expand its services in other Indian cities as well.
The Healthy Billion (raised extended Seed round in Feb 2018)
Gurgaon-based Healthcare analytics startup THB has raised $2.1 million in an extended seed round. Blume Ventures, Healthquad, Fireside Ventures, Apoorva Patni, Arpan Sheth, partner in Bain & Company participated in the funding round. According to MCA (Ministry of Corporate Affairs) filings, the startup has received $1.2 million out of the investment of $2.1 million. THB was founded by Akash Khurana, Gagandeep Singh, Rohit Kumar and Rajesh Pachar in 2015.
HealthifyMe (raised Series B in Feb 2018)
Bengaluru-based healthcare start-up HealthifyMe has raised $12 million in a series B round of funding led by Russian conglomerate Sistema Asia Fund. Other investors including Samsung NEXT, Atlas Asset Management, Japan’s Dream Incubator, IDG Ventures India, Inventus Capital, Blume Ventures and NB Ventures also participated in the round. The HealthifyMe platform which is available on iOS and Android plans to use the fresh round of funding to expand its presence in India by offering new products and services like health foods, diagnostics and insurance. Additionally, the company intends to use the funds to strengthen its artificial intelligence and data science capabilities. The startup which was founded in 2012 by Tushar Vashisht, Sachin Shenoy and Mathew Cherian, helps users manage their diet and workout schedule, and track progress. It also connects them with fitness trainers and nutritionists to create exercise and diet plans.
The Wedding Brigade (raised Pre-series A in Jan 2018)
Online wedding portal, The Wedding Brigade, has raised $1 million in a round of funding led by Blume Ventures. The other investors who participated in the round include Czar Capital, Mountain Pine Capital, Lets Venture investors and the Keiretsu Forum. Prior to this round, the company had raised Rs 4 crores in 2016 led by Blume Ventures. Started by Sanna Vohra in 2014, the Mumbai-based platform is active in Mumbai, Delhi, Chandigarh, Rajasthan, Goa and caters to destination weddings as well.
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