Funding Report Q2 2020
By T. Aswini Patro
Here is a list of startups who raised funding amidst Coronavirus Pandemic in Q2. Let’s have a look at their latest funding round in close detail!
Bijak: Gurugram based Agritech startup Bijak has been funded with $12 million in its Series A round from a group of investors along with existing investors American Venture capital Sequoia-owned Surge Ventures and Omidyar Network.
Vedantu: Edtech leader Vedantu has raised another round worth $7 million from KB Global and also has received funding of another $13 million (approx. Rs 96.1 crore) in its Series C1 round led by Legend Capital.
Bira 91: Famous Craft beer maker B9 Beverages, which owns Bira 91, has raised $20 million in a bridge round from existing investors American Venture capital firm Sequoia Capital and Sofina.
Mindhouse: Pankaj Chaddah, Ex Co-Founder of Zomato led mental fitness studio Mindhouse, has raised about $2 million from a clutch of individuals and led by Binny Bansal’s BTB Ventures.
Bugworks: Biopharma startup Bugworks has secured $7.5 million in a funding round led by the University of Tokyo Edge Capital.
Itilite: Software-as-a-service startup Itilite has raised $13 million in a Series B round led by Greenoaks Capital and Vy Capital.
Drink Prime: Water purifier startup Drink Prime has raised over $0.47 million as part of its seed round of funding from Kunal Bahl and Rohit Bansal (Co-Founders of SnapDeal), Bharath Jaisinghani (Director of Polycab wires) and Ankit Agarwal.
Spintly: Tech startup Spintly has raised $0.25 million in its pre-Series A round of funding from US-based angel investors and Goa-based Saltwater Venture Sparks.
Guvi: Edtech startup supporting vernacular languages Guvi, has raised $0.78 million in its pre-Series A round from CBA Capital’s Education Catalyst Fund.
MedGenome: Genomics research Bengaluru based firm MedGenome has grasped $55 million in an equity funding round led by LeapFrog Investments along with existing investors – Sequoia Capital and Sofina.
Nykaa: Online shopping beauty supplier Nykaa has raised $13.1 million from its existing investor Steadview Capital as a source of its primary investment.
JusPay: Bengaluru-based payments technology firm, JusPay has raised $21.6 million in its Series B round led by Sweden’s Vostok Emerging Finance (VEF).
Camp K12: Gurugram-based Edtech startup Camp K12 has secured $4 million in a seed funding round led by US-based private equity investment firm, Matrix Partners, and CISCO Systems’ SAIF Partners.
Lido Learning: Mumbai-based Edtech platform Lido Learning has raised $3 million in a funding round from Rocket Internet founder Alex Samwer-owned Picus Capital and Paytm President Madhur Deora along with other investors.
Mera Cashier: Noida-based Fintech startup Mera Cashier has bagged $0.15 in a bridge round from a group of investors including Sukhbir Singh (Prince of Bhangra), Boudhik Ventures, Shankar Nath, and Shaurya Garg.
Kitchens Centre: Cloud kitchen platform Kitchens Centre founded by Lakshay Jain has raised $0.5 million in a seed round led by AngelList India.
Fingpay: Last-mile banking services platform Fingpay has raised $3.5 million from IvyCap Ventures as part of its Series A round.
Recko: Fintech startup Recko has raised $6 million in its Series A funding round led by Vertex Ventures SEA along with existing investor Prime Venture Partners.
Furlenco: Online furniture rental startup Furlenco has raised $10 million as an equal mix of equity and debt funding.
Ergos: Avishkaar Capital has invested $5 million in its existing portfolio firm Ergos as a part of Series A round.
BigBasket: Online grocery startup BigBasket has raised $50 million in a bridge round led by Alibaba and other existing investors.
BankBazaar: Chennai based online financial marketplace, Bankbazaar has raised $3.8 million in a fresh round led by Amazon and other existing investors.
Rebel Foods: Cloud kitchen company Rebel Foods has spooned up $50 million from Coatue PE Asia in its series E round.
Swiggy: Foodtech dominant startup Swiggy has added $43 million more in its ongoing Series I round led by Chinese tech giant Tencent along with new investors such as Ark Impact, Korea Investment Partners, Samsung Ventures, and Mirae Asset Capital Markets.
Fingerlix: Mumbai-based ready to cook food startup Fingerlix has raised about $1.8 million in a round led by its existing investors’ American venture capital firm Accel Partners, Zephyr Peacock, Swiggy, and RB Investments.
DeHaat: Online marketplace providing farm services and products, DeHaat has secured $12 million in a Series A funding round led by Sequoia Capital India along with co-investment from Dutch entrepreneurial development bank FMO.
Zupee: Real money gaming startup Zupee has bagged $8 million in a Series A funding round led by Matrix Partners along with Falcon Edge Capital, WestCap Group, Orios Venture Partners, and existing investor Asia’s leading internet group Smile.
Jupiter: Digital banking startup Jupiter has secured $2 million in a planned place funding round led by Hummingbird Ventures and Bedrock Capital gearing up the valuation to $100 million.
Dailyhunt: News aggregator Dailyhunt has raised around $24 million from existing investors’ Chinese internet technology giant Bytedance, Falcon Edge, Goldman Sachs, and Advent Management. It has also raised $35.6 million more in its Series G round from James Murdoch’s Lupa India.
NoBroker: Online real estate rental startup NoBroker has raised over $30 million (approx. Rs 216.13 crore) in a fresh round led by New-York headquartered General Atlantic.
FarEye: Logistics management software provider FarEye has secured $25 million in a Series D round led by Microsoft’s venture fund M12 along with Eight Roads Ventures, Honeywell Ventures, and also an existing investor- SAIF Partners took part in it.
Setu: Financial infrastructure startup Setu, has raised $14.56 million Series A round from Lightspeed Venture Partners.
Wellthy Therapeutics: Digital therapeutic company, Wellthy Therapeutics, has secured $4.2 million in a pre-Series A funding round from early-stage venture capital firm Saama Capital.
Capital Float: NBFC Capital Float has raised $15 million from existing investors Ribbit Capital, SAIF Partners, Sequoia Capital India, and Amazon.
Box8: Full-stack food tech startup Box8 has raised fresh funding of $4 million from IIFL Seed Ventures Fund and Menlo park based Mayfield Fund in a mixed round of equity and debt funding.
Aavenir: SaaS-based source-to-pay solutions provider, Aavenir, has raised $2 million from venture capital firm Accel Partners.
Pratilipi: Audio and video-focused vernacular storytelling platform Pratilipi has raised $10 million in its Series C round led by Tencent along with existing investors Omidyar Network, Shunwei Capital and Nexus Venture Partners.
ShopX: Assisted e-commerce platform for small retailers ShopX has raised $1.4 million from three individuals including its existing investor Fung Capital’s managing director along with his wife, and former Chairman of Crompton Greaves.
Pedagogy: Ahmedabad-based Edtech platform Pedagogy has raised $0.4 million in a funding round from Inflection Point Ventures.
Nira: Fintech startup Nira has raised $2.1 million in a pre-Series A funding round from a clutch of angel investors heading from India, Europe, and the UK.
Fittr: Pune-based online fitness startup, Fittr has secured $2 million in pre-series A funding from Sequoia Capital India’s Surge.
Convosight: Community management platform Convosight has raised $4 million in its pre-Series A round from Sequoia Capital’s accelerator fund Surge and IvyCap Ventures.
NewsBytes: Short news platform NewsBytes has raised around $1.5 million in its Series A round led by US-based media, content, and information-centric venture capital firm North Base Media.
Wagonfly: Bengaluru-based contactless shopping and delivery experience, Wagonfly has raised $0.5 million from ITI Growth Opportunities Venture Fund.
MYSUN: Rooftop solar Delhi- based startup MYSUN has raised $4.26 million in its pre-Series A funding from existing investors.
Nykaa: Omnichannel beauty and lifestyle retailer Nykaa has mopped up another $8.8 million from its existing investor, Steadview Capital. Only last month, Nykaa had received Rs 100 crore from the Hong Kong and London-based hedge fund.
LoadShare: Tech-enabled logistics startup LoadShare has secured $13.2 million in a round led by Beenext. CDC Group and existing investors — Stellaris Venture Partners, Matrix Partners, and Alteria Capital also participated in the round.
Vernacular.ai: Bengaluru-based artificial intelligence startup Vernacular.ai has secured $5.1 million in a Series A funding round led by Exfinity Ventures and IAN Fund. Kalaari Capital, AngelList, and LetsVenture also participated in the round.
VestaSpace: Pune-based space-technology startup VestaSpace has raised $10 million in a funding round from US-based Next Capital.
Rooter: Live sports engagement platform Rooter has raised $1.7 million in a pre-Series A round led by Paytm, leAD Sports, and Rockstud Capital along with Anthill Ventures, Venture Catalysts, among others also participated.
Mintoak: Mumbai-based merchants payment platform, Mintoak has raised $2 million in a pre-Series A funding led by Pravega Ventures.
LiL’Goodness: Bengaluru-based children’s food and nutrition startup LiL’Goodness has raised $0.6 million led by Japan’s Beyond Next Ventures and angels including Sajan Pillai from Season Two Ventures.
Phable: Mobile-first healthcare services platform Phable has raised $1 million in pre-Series A round from early-stage investor Inflection Point Ventures.
SirionLabs: Enterprise-focused software-as-a-service provider, SirionLabs, has raised $44 million in its Series C round led by Tiger Global and Avatar Growth Capital.
Shiprocket: Logistics aggregator for D2C sellers, Shiprocket has picked up $13 million in a Series C round led by Tribe Capital LLC. Venture debt firm Innoven Capital and existing investor Bertelsmann India Investments also participated in the round.
Pariksha: Pune based exam preparation platform Pariksha has raised around $0.27 million in a bridge funding round from a group of existing investors.
Vogo: Scooter rental startup Vogo has raised around $0.27 million as a part of Series C round from Spice Group CEO Dilip Modi’s Exponentially I Mobility LLP.
Intello Apps: Artificial intelligence-focussed agricultural technology startup Intello Labs has raised $5.9 million in its Series A funding round led by Saama Capital.
Juicy Chemistry: Consumer brand focussed on organic-based skincare products, Juicy Chemistry, has raised $0.65 million in its angel funding round from Amit Nanavati.
Doceree: Health-technology firm focussed on physician engagement, Doceree, has raised $1 million in its seed funding round.
Khatabook: Accounting and business record keeping app for small merchants and entrepreneurs, Khatabook, has secured $60 million in a Series B round led by B Capital.
Lendingkart: Digital lender Lendingkart Technologies has raised $42.5 million as part of its ongoing Series D round led by Fullerton Financial Holdings, Bertelsmann India Investments, Sistema Asia Fund and IndiaQuotient.
Pratilipi: Audio and video-focused vernacular storytelling platform Pratilipi has bagged $0.7 million as a part of its ongoing Series C funding round from the British Virgin Islands-based SPV, QM 112 Limited.
Euler: Delhi-based Euler Motor has raised $2.53 million in an ongoing Series A round led by Inventus III India Fund.
Illumnus Education: Edtech startup focused on developing collaborative learning management systems, Illumnus Education has raised $0.1 million in seed funding.
Leap Club: Professional network focused on women, Leap Club, has raised $0.34 million from Whiteboard Capital, FirstCheque, former Pine Labs CEO Amrish Rau and others.
Eggoz: Agricultural-technology and poultry farming startup Eggoz, has raised $0.32 million in a seed round from Tracxn Labs, Angellist, Tri-Deep Capital and the founders of LetsTransport.
LetsTransport: Last-mile-based intra-city logistics marketplace LetsTransport, has raised $1.71 million from venture debt firm InnoVen Capital.
Ola Financial Services: Financial arm of ride hailing firm Ola, Ola Financial Services, has raised $27 million in its Series A funding round led by Matrix Partners. The Paolo Alto-based VC was joined by Falcon Edge, Gemini Investments, and Arun Sarin’s family office in Ola Financial’s maiden round.
Awfis: Co-working space provider Awfis has secured $5.2 million in a mixed funding round of debt and equity from its existing investors- Bisque Limited and Link Investment Trust.
CoinDCX: Mumbai-based cryptocurrency exchange aggregator CoinDCX has secured $2.5 million in a funding round led by Polychain Capital along with Coinbase Ventures also participated.
Hoi Foods: Coud kitchen brand, Hoi Foods brand, has raised $2 million in its pre-Series A round led by the 1Crowd Fund with participation from Sprout Venture Partners and AngelList.
Xtracap Fintech: Fintech startup Xtracap Fintech India raised $1 million in an angel round from unnamed investors.
DocsApp: Healthcare startup, DocsApp, has announced merger with Medibuddy and has scored $20 million worth Series B funding round for the joint entity led by Bessemer Venture, Fusian Capital, Mitsui Sumitomo, and Beyond Next Ventures.
Rentomojo: Online furniture and appliances rental, Rentomojo, has raised around $3 million from existing investors, Shri Investment; Pratithi Investment Trust and Gautam Dalmia.
Crofarm: Farm to retail agritech startup, Crofarm, has raised a $1 million fresh financing round led by Smile Group
BankBazaar: Online marketplace for financial products, BankBazaar, has secured $6 million funding as a part of its ongoing Series D round. While WSV has led the latest investment, existing investors, Amazon, Sequoia India, Experian, and Eight Roads also participated in it.
LetsTransport: Logistics marketplace for intra-city deliveries, LetsTransport, has raised $1.33 million in a funding round from Blacksoil Capital. The company would utilize the new capital towards bolstering its operational capabilities and help transform the logistics ecosystem in India.
iNurture: Bengaluru-based edtech startup, iNurture, has raised $4 million from Kimera Ltd, a Dubai-based family office.
QuaQua: Hyderabad-based QuaQua, a platform that provides real and virtual travel experiences, has raised $1 million from Anthill Ventures and other existing investors.
WoodenStreet: Jaipur-based online custom furniture platform WoodenStreet has raised $3 million in Series A funding from IAN Fund and existing investor Rajasthan Venture Capital Funds.
Cube Wealth: Digital wealth management service for professionals, Cube Wealth, has raised $0.5 million in funding from two of its existing investors – Beenext and Asuka Holding,
Postman: Software as a Service (SaaS)-based API development firm Postman has raised $150 million at a valuation of $2 billion led by Insight Partners. Existing investors CRV and Nexus Venture Partners also participate in it.
Jiffy.ai: Unified automation enterprise platform Jiffy.ai has raked in $18 million worth Series A funding round led by Nexus Venture Partners. Rebright Partners and W250 Venture Fund also participated in the financing.
Yolobus: Gurugram-based mobility startup Yolobus has raked in $3.3 million in a Series A round led by Nexus Venture Partners with participation of India Quotient.
HealthPlix: HealthPlix Technologies has secured $6 million in a Series B funding round led by JSW Ventures. Existing investors Chiratae Ventures and Kalaari Capital also participated.
Hapramp: Mahindra Group chairman Anand Mahindra has ploughed $1 million into Gurugram-based startup Hapramp.
Quolum: Bengaluru-based Quolum, a startup focussed on expense management tools for software-as-a-service subscriptions, has raised $2.75 million in a seed funding round led by Sequoia Capital accelerator Surge and Nexus Venture Partners.
Waycool: Agrotech startup WayCool has raised $5.5 million in debt funding from the impact investment arm of IndusInd Bank Ltd.
MaxWholesale: B2B e-commerce platform for Kirana stores, MaxWholesale, has raised $0.58 million from existing investors Al Falaj Commercial Investment and Indian Angel Network Fund.
Edvizo: Bengaluru-based edtech startup Edvizo has raised $0.15 million in a seed funding round from Inflection Point Ventures.
Fingerlix: Ready to cook food brand Fingerlix has raised about $0.52 million from Singapore based Horizon Techno PTE.
Milk Mantra: Dairy foods startup, Milk Mantra, has raised $10 million from US International Development Finance Corporation (DFC).
Pushp: Venture capital firm A91 Partners has invested $16.4 million in spice brands Pushp.
MedikaBazaar: B2B healthtech marketplace MedikaBazaar has raised $3.35 million from Antwerp-based Ackermans & van Haaren.
LetsTransport: Intra-city trucking logistics startup, LetsTransport, has raised $1.3 million in debt from Stride Ventures.
Jai Kisan: Mumbai-based fintech platform, Jai Kisan, has raised $3.9 million in funding from Arkam Ventures with participation of a fund backed by NABARD
Aye Finance: Microlending platform Aye Finance has secured $27.5 million worth Series E funding round led by its existing backer CapitalG, Google’s venture capital fund under its parent entity Alphabet Inc.
Yulu: Bicycle and electric scooter rental startup Yulu has announced raising $3.9 million in a fresh round led by Rocketship.VC.
Slice: Fintech startup Slice, formerly known as SlicePay, has secured $6 million in a pre-Series B funding led by existing backer Gunosy Capital. Kunal Shah, Better Capital, and existing investor Das Capital also participated in the latest round.
OZiva: Nutrition brand OZiva has secured $5 million in a Series A funding round led by Matrix Partners along with the participation of existing investor, Titan Capital.
91springboard: Coworking space provider 91springboard has raised $5.9 million from existing investors. The fresh capital has come from Singapore-based Freakout and Japan-based Shinsei Bank, among others.
Instasolv: Edtech platform Vedantu has invested $2 million in pre-Series A round in the Noida-based doubt-solving app Instasolv.
Bombay Play: Early-stage venture capital firm Leo Capital has led a $1.5 million pre-Series A round in gaming firm Bombay Play.
High Street Essentials: High Street Essentials, which operates fashion brands including FabAlley and Indya, has raised $2.72 million in its pre-Series C funding round ed by SAIF Partners and India Quotient.
Milkbasket: Grocery and milk delivery startup Milkbasket has raised $5.5 million in a fresh funding round led by Inflection Point (IP) Ventures. Existing backers Blume Ventures, Kalaari Capital, Mayfield India, Unilever Ventures and BeeNext also participated.
Flinto: Flinto, which focuses on activity-based learning for kids, has secured $7.2 million in a pre-Series B round led by its existing backer Lightbox Ventures.
BluSmart: Electric cab-hailing app BluSmart has raised around $5 million in its pre-Series A round from existing and new investors.
Mitron: Short video app Mitron TV has raised $0.25 million from 3One4 Capital and Lets Venture Angel. Both investors have put in Rs 1 crore each in the Bengaluru-based venture.
Zetwerk: Business-to-business marketplace for custom manufacturing, Zetwerk, has secured $21 million in a Series C funding round led by its existing backers, Greenoaks Capital and Accel Partners.
ChitMonks: Hyderabad-based fintech startup ChitMonks has raised $0.65 million in pre-Series A round from Unicorn India Ventures. The VC firm has made the second investment after SaScan from its second fund worth Rs 400 crore.
Gobbly: Gurugram-based contactless retail-tech startup, Gobbly, has raised $0.5 million in seed funding from Sauce.vc.
Paper Boat: Gurugram-based beverage and snack brand Paper Boat has raised $3.7 million from Sofina Ventures, A91 Emerging Fund I, SCI Growth Investment II and Catamaran Ventures.
Bulk MRO: Business-to-business (B2B) marketplace startup Bulk MRO, has raised $3.3 million in a debt funding round led by Stride Ventures.
Indus OS: Affle, a mobile commerce and marketing solutions provider, has infused $2.86 million in Indus OS for 8% stake.
Ken42: Bengaluru-based edtech startup, Ken42, has raised $1.4 million from Turbostart.
Inspektlabs: An AI-based inspection startup, Inspektlabs, has raised $0.6 million in a pre-Series A funding round led by venture firm Better Capital and Titan Capital.
Startups who did not disclose their funding are:
AsknBid, Lucor, Expertrons, Sarva, Plop, Obviously AI, Finaureus Technologies, CredR, SoME, Pariksha, Zealthy, Samadhan, The Morning Context, Locale.ai, CreditEnable, BLive, Power Gummies, LoanAdda, MetaMorphoSys, CodeNinja.ai, Brainwired, Nium, DeepTek, VastraApp, Charge+Zone, Scribble Data, Spyne, Refrens, GroCurv, Tring, Riskcovry, Stepathlon, Teamonk, Voicezen, Any Time Classes, Timios, GramCover, Blowhorn, HomeCapital, Vahak , Axys, Credgenics, Nutrova, WarmOven, Myelin Foundry, Innoviti, F5, MyKaam, Knocksense, LattuKids, Gabbardeals, Peppermint, Agro2o, GoMechanic, DROR, GoldenPi, Sarva, Crimson, SEMSI, Byju’s, Rusk Media, Horizon Quantum Computing, Aether Biomedical, Forbidden Foods, Bold Care, Aerostrovilos, Samosa Party and Qin1 has also been funded in Quarter-2 of 2020 but they did not disclose their financial details on funding.
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