In the previous week, 31 Indian startups raised funding, out of which 20 disclosed their funding amount. Among those startups, Cars24 raised the highest funding of about $200 million followed by Cashfree which secured a funding of $35.3 million. The remaining 11 startups (Unacademy, Inntot, Lightspeed AI Labs, Astrogate Labs, Nykaa, Grips Invest, Apps Flyer, Algo Bulls, Power Gummies, Awign, and Omatra) didn’t disclose their funding amount.
Indian Startups Funding of the Week (November 23-28)
Cars24
Cars24 was founded in Gurgaon, Haryana, India in 2015 by Vikram Chopra, Mehul Agrawal, Ruchit Agrawal, and Gajendra Jangid. The organization expects to reform the manner in which cars are sold by making a proficient and dependable route for vehicle proprietors to sell their pre-owned vehicles at a sensible cost. It uses an AI-empowered pricing algorithm that shows the exact market cost just as the accurate market cost of a vehicle. The stage likewise books appointments for vehicle inspection. Gurugram-based online used car marketplace Cars24 has entered the unicorn club by raising $200 Mn in a Series E funding round led by DST Global. Existing investors Exor Seeds, Moore Strategic Venture, and Unbound also participated in the round
Cashfree
Cashfree was founded in 2015 by Akash Sinha and Reeju Datta, based in Bengaluru, India. The startup empowers more than 50000 organizations with payment collections, vendor payouts, wage payouts, instant loan disbursements. Cashfree clients incorporate leading internet organizations, for example, Cred, BigBasket, Zomato, HDFC Ergo, Ixigo, Acko, Zoomcar, and Delhivery among others. Cashfree has raised $35.3 Mn in a new financing round led by London-headquartered private equity firm Apis Partners, with participation from existing investors Y Combinator and Smilegate Investments.
Pravasi Rojgar
Pravasi Rojgar was launched by Sonu Sood along with Schoolnet in July 2020 as an employment portal for job-seekers, particularly migrants, after millions lost jobs in the pandemic and returned to their local spots. This initiative has already onboarded over 10 lakh job seekers and thousands of employers within just four months of its launch. has raised $33 Mn (INR 250 Cr) funding from Temasek Holding-upheld Goodworker. With the new capital, Pravasirojgar.com plans to provide jobs and career progression to candidates through upskilling services, financial, healthcare, and social security services.
Country Delight
Country Delight was founded by Chakradhar Gade and Nitin Kaushal in 2015. The organization’s application offers to order milk products and have them delivered straightforwardly from the farmer, enabling clients to get rid of the hassle of managing one’s milk requirements. The startup has raised $25 Mn in a Series C round led by Elevation Capital. Existing backers Matrix Partners, Orios Venture Partners, and IIFL PE Fund also participated in the funding round.
Plum
Plum is a new line of 100% vegan beauty products that is tied in with “being good” – to your skin, to your senses, to other people, and to the climate. Thane-based skincare items startup Pureplay Skin Sciences, the parent organization of Plum, has raised $14.8 Mn (INR 110 Cr) in Series B funding led by Faering Capital, Trifecta Capital just as existing speculator Unilever Ventures. The organization intends to utilize the fresh funds in research, sourcing, new product launches, technology, and expansion of distribution footprint.
Dailyhunt
DailyHunt creates mobile application software. It offers online news, books, and magazines. The startup was founded by Virendra Gupta in 2009 in Bangalore. Dailyhunt has raised $9.8 Mn (INR 73 Cr) in primary capital from B Capital Group.
Cityflo
Cityflo was founded in 2015 by Advaith Vishwanath, Ankit Agrawal, Jerin Venad, Rushabh Shah, Sankalp Kelshikar, and Subhash Sundaravadivelu. Cityflo is a daily commute organization helping experts in Mumbai and Thane travel to work. The startup offers a comfortable and relaxing experience that lets you capitalize on your commute time. Cityflo has raised $7.7 Mn (INR 57 Cr) in a Series A funding round led by Lightbox Ventures to expand its services on the current and new route.
Shipsy
Shipsy was founded in 2015 in Gurugram by Soham Chauksi, Dhruv Agarwal, Himanshu Gupta, and Sahil Arora. Gurugram-settled SaaS startup for shippers and logistics organizations Shipsy has brought $6 Mn up in Series A funding in a round led by Sequoia Capital India’s Surge and existing financial investor Info Edge.
CredGenics
CredGenics was founded in 2018 by Rishabh Goel, Anand Agrawal, and Mayank Khera. Credgenics is a SaaS-based collection and legal automation stage aiming to solve India’s $200 billion+ bad debt issue. The startup is now working with all the significant private sector banks including ICICI Bank, IDFC First, Axis Bank, and Yes Bank and more than 32 NBFCs including Loantap, DMI Finance, Clix Capital, Udaan, MoneyTap, Moneyview, and so on. New Delhi-based debt resolution startup Credgenics has raised $3.5 Mn (INR 27 Cr) in a pre-Series A round led by Accel Partners, DMI Alternatives fund with participation from existing investors Titan Capital.
Kinara Capital
Kinara Capital was established in 2011 and is headquartered in Bangalore, Karnataka, India. The organization is focused on lending to developing organizations that require funding for working capital, capital resources, and start-up needs. Kinara Capital focuses on enterprises, for example, agri-products, handicraft production, water, food, and energy. Bengaluru-based digital lending company Kinara Capital is looking to raise $3 Mn (INR 22.56 Cr) from multiple investors Gaja Capital, Michael, Susan and Dell Foundation, Patamar Fund, and Global Financial Inclusion Fund (GAWA).
ERPNext
ERPNext is a generic ERP programming used by manufacturers, distributors, and service companies. It incorporates modules like accounting, CRM, sales, purchasing, website, e-commerce, point of sale, manufacturing, warehouse, project management, inventory, and services. Additionally, it has domain-specific modules like schools, healthcare, farming, and non-profit. Zerodha’s fintech fund and incubator Rainmatter has invested $1.3 Mn (INR 10 Cr) in open-source enterprise resource planning software ERPNext. The startup was founded in 2016 by Rushabh Amit Mehta, Nabin Sambhunath Hait, Revant Madhav Nandgaonkar, and Prakash Ramchandra Hodage.
Yellow Class
Yellow Class offers online hobby classes like dancing, drawing, painting, flameless cooking, yoga, storytelling, among others, for children in the three to 12 age section. Established by Arpit Mittal and Anshul Gupta, Yellow Class has a current client base in 52 nations, generally from India and the Middle East. The startup has raised $1.3 Mn in a pre-Series A funding round led by India Quotient. It will utilize the funds to launch more classes and develop more products.
STAGE
Startup incubator and accelerator Venture Catalysts has as of late raised a $1.1 Mn (INR 8.5 Cr) interest in vernacular-based hyper-neighborhood OTT STAGE. Aavishkaar’s accomplice Sushma Kaushik, Bulbu.tv’s Sachin Bhatia, POSist’s Ashish Tulsian, and others additionally partook in this round.
Chumbak
Chumbak was founded in March 2010 Chadda by Vivek Prabhakar and Shubhra Chadda with a plan to make fun and splendid Indian souvenirs, Chumbak today has developed into a way of life brand with footprints in Bengaluru, Mumbai, and Delhi. It likewise has lead stores in Bengaluru and Delhi and 35 spring up stores across India. Bengaluru-based lifestyle brand Chumbak has raised about $1 Mn (INR 7.39 Cr) in a Pre- Series E round from Gaja Capital Fund (GCFII-A)
SignalX
SignalX was founded in August 2018 by Piyush Arora and Zakhir Wahab. Corporate Risk AI stage that runs far comprehensive financial, legal, compliance, and reputational analysis on any objective that you are working with, its advertisers, related gatherings, and KMPs. Hyderabad-based AI-powered governance risk management and compliance startup SignalX has raised $811K (INR 6 Cr) in a seed round led by 3Lines VC. 9Unicorns and a US-based VC fund, along with Hyderabad angels, participated in this round.
Kaagaz Scanner
Kaagaz Scanner was founded in June 2014. Ordenado Labs – a startup established in July 2019 by Snehanshu Gandhi, Gaurav Shrishrimal, and Tamanjit Singh Bindra – is building a set-up of artificial intelligence-powered devices to assist clients with dealing with their everyday undertakings flawlessly. Kaagaz Scanner is the second product that has been created by the organization and it intends to acquire more products in the coming months. It is an offline app which is used to scan the documents. has raised $575K up in a seed funding round led by Pravega Ventures. Former Infosys Vice Chairman Kris Gopalakrishnan’s Axilor Ventures and Better Capital also participated in the funding round, along with a couple of prominent angel investors, for example, redBus organizer Phanindra Sama and Fynd cofounder Farooq Adam.
Ensuredit
Ensuredit Technologies Private limited is a maker of Artificial Intelligence-based products that change the user experience and engages end clients in the Insurance-innovation section of the industry.Ensuredit Technologies Private restricted was helped to establish in 2019 by Vikas Ranga, Rohit Sadhu, Rohit Rathi, and Amit Boni. The company aims to leverage technology and Artificial Intelligence to turn the traditional pages of the Insurance Industry in India. The startup has raised $338K (INR 2.5 Cr) in pre-Series A round of investment led by Venture Catalysts.
GeoIQ
GeoIQ was founded by Ankita Thakur, Devashish Fuloria, and Tusheet Srivastava in July 2018 in Bangalore. GeoIQ permits firms to make critical business decisions depend on the location insight or data points derived from geospatial data. The startup has raised a $338K (INR 2.5 Cr) seed investment led by 9Unicorns. IPV and Kayenne also invested in the company.
Lancify
Lancify is building the world’s strongest young labor force by training youngsters with new-age skills identified with the most recent SaaS tools. Like creating websites with Webflow or building design systems with Figma. The startup was founded in October 2018. Edtech startup Lancify has raised $300K from Techstars, BigBasket’s Head of HR Hari TN, Shopify’s executive Brennan Loh, Freshworks executive Krish Ramachandran also participated in this round, along with other investors.
NewsReach
NewsReach was founded by Darshan Shah in 2018. NewsReach encourages local newspaper distributors, publishers, reporters, stringers & PGCs, to aggregate their content on one stage and monetize their content through advertisements but also through an innovative news marketplace, where such publishers and original content providers can sell/permit/syndicate their content in an open market to large media houses, individual distributors or potentially to any content buyer. The startup has raised $150K in its seed round funding led by JITO Angel Network. Other investors including CIIE Initiative startup Oasis and Omnivore VC’s Managing Partner Jinesh Shah also invested in the round, along with other investors.
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