July 20, 2014

Deal Alert: Mobile travel marketplace SeekSherpa raises angel investment

Delhi-based mobile travel marketplace SeekSherpa has raised seed investment from a group of angels associated with early-stage accelerator VentureNursery. The company will use the funding to expand operations and for hiring. SeekSherpa was part of the January batch of VentureNursery. The angel investors in the company include Patni scions Amit and Arihant, Everest Flavours founder Anand Ladsariya, Fame Cinemas founder Shravan Shroff and former Starcom MediaVest Group honcho Ravi Kiran. 

Founded by former Google executive Dhruv Raj Gupta and AT Kearney analyst Sukhmani Singh, SeekSherpa is a mobile application that links travellers with locals who create unique and tailor-made experiences that tourists can book. The company allows locals in top Indian cities and tourist locations to become a “Sherpa” on the app. The app already has about 500 Sherpas from eight cities and 100 experiences like Delhi momo trail and shopping through Chandini Chowk. The app is free for the traveller but the firm gets a 20% commission from the Sherpas for every experience booked. The company is targeting to increase its Sherpa base to 10,000 and expand to more cities and tourist locations in India this year before expanding to global locations next year. 

 
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Deal Alert: New Biotech accelerator invests in Lucep, SKL Medtech, Bugworks

A new incubator set up by entrepreneurs in the biotechnology sector has invested in software product company Lucep, which is looking to enter the healthcare segment; Coimbatore-based SKL Medtech, which is developing a fabric that absorbs X-rays; and drug discovery company Bugworks.

The accelerator will take equity anywhere between 1-10 % in the companies and will incubate them for 12-18 months. The accelerator has tied up global life sciences tools provider Esco Group and will work with it on an equity-sharing basis. It will take on eight-10 companies a year, on a rolling basis, working on areas like medical devices, diagnostics, medical textiles and digital health. Bangalore-based Evoma, will provide office space for the startups. 

 
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July 15, 2014

Deal Alert: RoomnHouse.com raises Rs. 1-Cr from Euphoria Venture

Property portal RoomnHouse has raised funding of close to Rs. 1 crore from Euphoria Ventures through a bridge round to expand its operations. Angel funded by Euphoria Ventures CEO Ashish Patel, RoomnHouse.com, launched in 2012, allows property owners to list their accommodations with the site, and travellers get the option of private accommodation ranging from apartments to villas. The portal is targeting a revenue of Rs 6 crore this financial year. The company expects to raise additional funding of Rs. 10 crore in January 2015. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Steadview, SAIF, Kalaari invest $21-M in furniture e-tailer Urban Ladder

Bangalore-based online furniture store Urban Ladder has raised $21 million (INR 120 crore) in a round led by Hong Kong-based Steadview Capital with participation from existing investors SAIF Partners and Kalaari Capital. The firm will use the funds to expand its presence from seven cities to about 25 over the next one year. 

Founded by IIT and IIM graduates Ashish Goel and Rajeev Srivatsa two years ago, Urban Ladder had so far raised $6 million through two rounds of funding. Besides expanding across multiple cities, it is launching adjacent categories like lighting, floor and wall solutions. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

July 13, 2014

Deal Alert: Times Internet, Flipkart founders invest in mobile app firm News in Shorts

News in Shorts, a mobile app firm that gives out top news stories in 60-word bite-sized portions, has raised seed investment from Times Internet and a group of entrepreneurs, including Flipkart co-founders Sachin Bansal and Binny Bansal. The funding will be used mainly to expand its content and technology teams. Launched last September, the Delhi-based company was part of the fourth batch of Times Internet's accelerator TLabs. Aimed at time-starved users, News in Shorts curates top stories and provides a short summary of each news item. The app has now clocked up over 30,000 users.

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

July 09, 2014

Deal Alert: Cardback raises $170-K from Rajan Anandan, Sunil Kalra, others

Cardback, creator of an Android app that provides notifications to users about offers on their credit and debit cards on mobiles, has raised INR 1 crore ($170,000) via LetsVenture, an online platform that connects startups with angels. Rajan Anandan, Sunil Kalra, Rishi Shrivastava have led the round along with Alok Mittal (of Canaan Partners), Naval Bir Kumar (VP of IDFC), Soumitra Sharma (ex-IDG Ventures), and Nitin Aggarwal (Founder of Yebhi.com). 

Following the round, Rishi Shrivastava joined the company’s board. The startup will use the fund for product enhancement, user traction, expansion to more cities and geographies. 

Source: Yourstory.com
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Malaysia-based Presha Paragash invests Rs.5-Cr in backpacker hostel chain Zostel

Zostel, a backpacker hostel chain for young travellers, has received an angel funding of INR 5 crore from Malaysia-based angel investor Presha Paragash.IIM Calcutta graduate Paavan Nanda founded Zostel in August 2013 along with six other friends with an initial capital of Rs. 20 lakh. Zostel is looking to create the European backpacking experience in India but with a local flavour.

Source: Economic Times

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

July 08, 2014

Deal Alert: venture dairy invests in agri services firm Akshayakalpa

US-based Social VC firm venture dairy has invested in agricultural services firm Akshayakalpa which is setting up a dairy cluster of 300 organic dairy farms in Karnataka. The investment is the first by venture dairy in India. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

July 07, 2014

Deal Alert: Room-mate search portal Grabhouse raises $500K from India Quotient

Grabhouse, a Mumbai-based online roommate search engine which helps people find compatible roommates, has raised $500k from India Quotient. The start-up offers an online platform for tenants to contact owners directly without involving real estate agents. The funds will be used to bridge the gap between availability of houses and online demand from seekers. 

Grabhouse was a part of India Quotient’s bootcamp last year. Earlier in January this year, it raised a seed funding from India Quotient and MV Krishnan, Vice President, Deutsche Bank. 

Source: Yourstory.com 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Dayananda Sagar Institutions to set up incubator in Bangalore

Dayananda Sagar Institutions will set up a one-stop plug and play incubator in South Bangalore for startups in the electronic system design and manufacturing (ESDM) space. The institution is throwing open 4 lakh square feet of built-up area to incubate new ventures and has invested Rs 35-40 crore to set up the infrastructure. Formulate IP, a Bangalore-based patenting office has already come on board, as a number of publications and patents are expected from the set-up. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.