Deals this week

Deals this weekFood technology start-up YuMist raises Rs 6.2 crore

YuMist, a food technology and delivery start-up has raised Rs 6.2 crore ($1 million) from venture capital firm Orios Venture Partners. The funding will be used to further build its technology platform, expand services, and towards marketing.

“There are no national players in this space, and that too, in a country which has one of the largest food and beverages markets globally,” said Jain.

“We have a centralised kitchen that can serve an entire city. All our recipes undergo rigorous testing, and through use of food science, we can reproduce the best quality food, using the best ingredients, in the shortest time possible,” said Abhimanyu Maheshwari, co-founder and chief operating officer at YuMist.

SmartPocket raises Rs 1.5 crore

SmartPocket, a mobile technology startup that connects offline businesses to loyal customers has raised seed funding of about Rs 1.5 crore from early-stage investment firm Sol Primero along with participation from Rajiv Mehta, top executive at retail firm Arvind Group.

The funds will be used on product development, acquire users, and form partnerships with offline businesses.

Founded by Kiran Shastri and Mayank Shah, the company has tied up with Puma, People, Turtle, and Peter England as its partners. It scans both sides of a user’s card to carry digital copies of them on SmartPocket and protect data by activating Pin Code.

“We believe Smart-Pocket product has the ability to drive out inefficiencies of carrying multiple loyalty cards in one’s wallet,” said Presha Paragash, managing partner at Sol Primero.

NowFloats secures Series A funding

NowFloats has raised Series A funding from Omidyar Network and existing investors Mumbai Angels, Blume Ventures, and Hyderabad Angels. However, the financial details of the deal have not been disclosed.

NowFloats enables local businesses get an online presence by creating, managing, and updating local content through an innovative, cost effective, and customer-centric technology interface. It has about 33,000 customers and has its presence in 50 countries.

“We will invest in technology and expanding our customer footprint globally either through direct or through alliance partners. We will also hire more sales people,” said Jasminder Singh Gulati, co-founder and CEO, Now-Floats.

Holachef secures Rs 2-crore seed funding

Holachef, a food technology startup has raised seed funding of Rs 2 crore in a round led by India Quotient.

Founded in 2014 by Saurabh Saxena, Anil Gelra, and Ritu Rana, Holachef curates amateur and professional chefs on its platform, allowing them to sell selected signature dishes. The meals are priced at an average of Rs 200-300. The company caters to Mumbai in areas like Powai, Mulund, Andheri West, Ghatkopar, and Malad.

“We are not in a market where 30 minute delivery becomes the product itself. We are counting on the fact that people like to be planned when ordering food, especially lunch and dinner,” said Saurabh Saxena.

Ben Franklin raises Rs 40 crore

Eye Gear Optics India, which operates a chain of optical retail stores under the brand name of Ben Franklin has raised Rs 40 crore from Venture capital firms Ventureast and Asian Healthcare Fund.

The funds will be used to expand its operations, hire talent, and also explore online retailing.

Hyderabad-based Eye Gear Optics, partners with ophthalmologists to set up stores in the premises of eye hospitals and clinics. Currently it operates over 180 stores in 13 states across the country.

“We believe that Asian Healthcare Fund’s strong domain expertise and Ventureast’s vast experience in enabling businesses will help us in harnessing the value of partnership and achieving our growth objectives,” said Raj Pyla, chief executive of Ben Franklin.

Mahindra Group acquires BabyOye

Nest Childcare Products Pvt Ltd operating BabyOye has been acquired by Mahindra Group. The financial detail has not been disclosed. Anand Mahindra, Chairman and Managing Director of Mahindra Group announced the acquisition of BabyOye on Twitter.

BabyOye was earlier backed by Tiger Global, Accel Partners, and Helion Venture Partners had together invested $14.5 million.

Founded by Sanjay Nadkarni and Arunima Singhdeo in 2014, BabyOye provides a list of products in pregnancy infant-care and mother-care products and services.BabyOye had earlier acquired Hoopos in 2013. Mahindra group is already operating Mom & Me, offline babycare products store.

Aisle raises $100,000 from investors in Valley and India, an online community platform for single urban Indians has raised $100,000 from the Bay Area and India. The deal was closed through from a group of high networth individuals that includes Anand Vijay of Microsoft, Shashank Mehrotra of Bigrock, among others.

Founded in July 2014 by Varun Able Joseph Kurien, the site apart from connecting urban single folks has a network of wedding related service providers from Mumbai, Delhi, and Bangalore. Currently, it has around 4000 users from 30 countries such as India, UK, US, Singapore, and UAE.

“We will use this funding to scale up and expand horizontally. We will also use this capital to hire talent for our user relations team and improve back-end technology,” said Kurien.