startup funding
TheNFAPost Podcast

Amritsar, NFAPost: The week ended Aug 8 saw 12 Indian startups raise funding, of which 10 startups received a total sum of around $39 million. Funding for three of the total startups remained undisclosed.

Edtech platform Springboard was the highest grosser this week with a funding raised of about $31 million, followed by DrinkPrime that raised $2.9 million.

Last week also saw three acquisitions in the startup space. Edtech unicorn Byju’s acquired Mumbai-based WhiteHat Jr for $300 mln, Mumbai-based direct-to-consumer (D2C) brand MyGlamm acquired Delhi-based women-focused digital media and e-commerce platform POPxo, and online used car platform Spinny has acquired it rival Truebil. Financial details of the latter two acquisitions were undisclosed.

Deals closed in the week Aug 3-Aug 8

Springboard: In a Series B funding round led by Telstra Ventures, online learning platform for workforce upskilling, Springboard, has raised $31 million.  The funding round also saw participation of returning investors such as Costanoa Ventures, Pearson Ventures, Reach Capital, International Finance Corporation, 500 Startups, Blue Fog Capital, and Learn Capital.

DrinkPrime: In its pre-Series A round funding, subscription-based water purifier startup DrinkPrime raised $2.9 million. The funding round, which is part of the startup’s ongoing seed funding, was led by Sequoia Surge.

Wobot Intelligence: This Delhi-based video analytics platform secured $2.5 million in a pre-Series A round led by Sequoia India.

Origo Commodities: Post-harvest management services provider Origo Commodities has raised $867,000 through non-convertible debentures from IFMR FImpact Long Term Multi-Asset Class Fund.

inFeedo: People analytics-focused SaaS startup inFeedo has raised $700,000 in its pre-Series A round of funding from a group of investors, including global startup accelerator Y Combinator.

Other investors who were part of the funding round included Lenskart Chief Executive Officer Peyush Bansal, Innov8 Founder Ritesh Malik, former Snapdeal chief product officer Anand Chandrasekaran, former Cloudcherry CEO Vindo Muthukrishnan, Inventus Law CEO Anil Advani, and former Kwench CEO Sunder Nookala.

Bolo Indya: Gurugram-based regional language short-video platform Bolo Indya has raised $500,000 in its pre-Series A round of funding led by Eagle10 Ventures, India Accelerator and HNIs.

Data Sutram: In its seed funding round, Kolkata headquartered artificial intelligence-based platform Data Sutram, which helps businesses leverage location-based insights, has raised $226,000 from Indian Angel Network angels Uday Sodhi, Mitesh Shah and Nitin Jain.

PhableCare: Bengaluru-based health management platform PhableCare has raised $162,000 in its pre-Series A round of funding from around 40 investors.

Filing to the Ministry of Corporate Affairs showed that PhableCare’s parent company Terrals Technologies Ltd has allocated 439 pre-Series A1 equity shares at face value of 100 rupees and premium of 27,738 rupees to 40 allottees.

Beewrks: Digital contact center marketplace Beewrks has secured $150,000 from Phonon Communications.

Phonon, with this investment, aims to get nearly 100,000 professionals employed on Beewrks.

Zo Rooms: Budget hotel room providing platform has raised $73,000 through non-convertible debentures from Orios Ventures Partners Fund I.

Undisclosed deals 

Crowdpouch and Probus Smart Things did not disclose their financial details.

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