INDmoney, a wealth management firm, has raised $75 million in a new round of funding from existing investors including Tiger Global. The new funds for the Bengaluru-based company come after a two-year hiatus. INDmoney has approved the allotment of 42,636 Series D preference shares at a price of Rs 562.5 crore (approximately $75 million). Tiger Global, Steadview Capital, and DF International Partners have each invested Rs 187.5 crore (approximately $25 million). Kashyap’s stake in the company has been reduced from 35.63 percent to 31.09 percent as a result of the…
Read MoreDay: January 17, 2022
Startup Your-Space raises $10 million
Your-Space, a student housing startup, has raised $10 million (roughly Rs 75 crore) from a group of investors for business expansion and growth. Your-Space said in a statement that the amount was raised in Series-A funding through a combination of pure equity and convertible debentures. Personal investments from Shantanu Rastogi (General Atlantic) and Ajay Gupta’s (Capital Foods) family offices AJAX Capital and Holy Basil Consultancy led the funding round. Manish Choksi’s (vice chairman of Asian Paints) family office, Sunidhi Group’s family office, and Sanjaya Gupta (former MD & CEO of…
Read MoreIndiaFilings closes $4.3 million in secondary share sale to BeeNext, Udtara Ventures
Verve Financial Services’ compliance and regulatory service provider IndiaFilings.com announced on Monday that it has completed a $4.3 million secondary sale, bringing on board BeeNext, Udtara, and angels. The promoters and early angels of the bootstrapped company sold some of their shares to the incoming investors. IndiaFilings, founded in 2014, offers over 200 services to small businesses to help them stay compliant and manage their regulatory requirements. To provide regulatory and accounting services at scale, the company leverages its in-house technology stack. The company is profitable and has a revenue…
Read MoreAgritech firm DeHaat acquires farm input startup Helicrofter
DeHaat, an agritech firm, announced on Monday that it has acquired Helicrofter, an agri-input marketplace startup, in order to expand its presence in Maharashtra and other parts of West India. The deal’s value was not disclosed by the company. DeHaat, founded in 2012 and based in Gurugram (Haryana) and Patna (Bihar), is a technology-based platform that provides farmers with end-to-end agricultural services. Amrendra Singh, Shyam Sundar, Adarsh Srivastav, and Shashank Kumar, all IIT, IIM, and NIT alumni, founded it. DeHaat CEO Shashank Kumar stated that with the integration of Helicrofter,…
Read MoreKarnataka tops in national startup awards, walks away with 14 of 46 honours
Karnataka received 14 of the 46 national startup awards announced and distributed by the central government on Saturday, the most of any state. The Centre received 459 nominations from startups across the state. There were 2,177 applications from across the country in a variety of sub-sectors. Chief minister Basavaraj Bommai stated that Prime Minister Narendra Modi has been a significant supporter of the sector, and that his government’s goal is to replicate Bengaluru’s success in the startup ecosystem in other districts. Tinkerbell, Steradian, and Tagbox are among the 14 national…
Read MoreDoordash’s Gokul Rajaram leads $10 Mn round in Dozee
Dozee, a health-tech startup that provides remote monitoring solutions, has raised Rs 71.3 crore ($10 million) in a new round led by Gokul Rajaram. In July of last year, the company raised $6 million in a Series A round led by existing investor Prime Venture Partners. According to its regulatory filing with RoC, Dozee has approved the allotment of 9,599 Series A1 preference shares and one equity share at an issue price of Rs 74,220 per share to raise Rs 71.3 crore in what appears to be an extended Series…
Read MorePiyush Goyal urges global VC funds to focus on startups in smaller cities
Commerce and Industry Minister Piyush Goyal on Friday urged global venture capital funds to focus more on startups in the country’s tier 2 and 3 cities and explore new investment sectors. The minister, who was chairing a roundtable with global venture capital (VC) funds, stated that the government has already taken a number of steps to support startups and will continue to do so in the future. Goyal invited venture capital funds to explore new investment sectors, promote and protect intellectual property created by young Indian entrepreneurs, provide expertise to…
Read More