Deals this week

Deals this weekMedia crowdsourcing startup Springleap raises $8,00,000

New York’s media crowd sourcing startup firm, Springleap has raised $800,000 from Cross Border Angels. This funding will be used to bring crowdsourcing model in India to get access to the Indian brand.

Founded in 2012, Springleap provides a crowdsourced marketplace of creative professionals where brands and agencies can turn to for media solutions and consulting.

Kaushal Choksh’s CBA is an international investment network that focuses on investing in cross border ventures. CBA with its significant potential to scale up globally, actively supports its portfolio companies in expanding internationally. secures Rs 3 crore in funding, an online platform for social commerce product companies has secured funds from Venture Nursery, members of Calcutta Angels, Mumbai Angels and several high networth individuals from India and abroad.

However, the financial details of the investment has not been confirmed but is estimated at Rs 3 crore ($0.5 million) which is raised from this second round of fund raising. The funds raised will be used to scale up technology and marketing teams.

Founded in 2011 by Harsh Gadia and Maneesh Madambath, helps users discover unique and interesting lifestyle products from across the web by aggregating and curating them based on the users’ social connections and interest graph.

“With increasing number of vendors and consumers coming into the eco system, our focus in 2015 would be on launching a mobile application for Klip over the next couple of months,” said Harsh Gadia, co-founder of Klip.

Wooplr raises Rs 30 crore from Helion Ventures 

Wooplr, a fashion discovery app, has raised $5 million (about Rs 30 crore) from Helion Venture Partners. The funds will be used to expand its team and presence.

Wooplr was founded in March 2013 by Praveen Rajaretnam, Arjun Zacharia, Soumen Sarkar, and Ankit Sabharwal. The platform has curated content and users can follow popular people in their area to understand what’s trending in fashion, home decor, and others.

“Currently all shopping is catalog-driven. We’re making it location, need, and interest-driven,” said CEO Arjun Zacharia.

The company currently has 1 lakh users with 14,000 shops listed on its website and plans to increase the count to 100,000 in the coming year.

Earlier Wooplr had raised $150,000 (about Rs 93 lakh) last September from angel investors Jaspreet Bindra along with member of Indian Angel Network Sunil Kalra and a few others.

Technology startup NextGen gets funding from Mumbai Angels

Technology startup NextGen has raised funding from Mumbai Angels and a group of angel investors. However the deal settlement has not been disclosed. This round of funding also saw participation from former Infosys executive Basab Pradhan and ex Ernst & Young national director Sunil Chandiramani.

The funding round was led by the founder of redBus, Phanindra Sama who sold his online bus ticketing firm for over $100 million (Rs 622 crore) to Naspers. Sama will join the board of NextGen along with other angel investor and retail veteran Bijou Kurien.

NextGen will use the funds to acquire more customers, do R&D, and partner with environmentally conscious companies.

“The young and passionate team at NextGen has shown great execution skills with a proven track record of working with large clients and delivering value through technology,” said Bijou Kurien, board member at L Capital Asia and former CEO at Reliance Retail.

iTraveller raises Rs 6 crore in funding

iTraveller, an online trip planning startup has raised Rs 6 crore in Series A funding from ah! Ventures, LetsVenture, and Mantra Ventures. The firm was incubated at Kochi’s Startup Village in 2011.

Founded by former Wipro and Cognizant consultant Shiju Radhakrishnan, iTraveller already has 2 lakh trips created by users, featuring over 20 travel destinations and 60 native wholesale suppliers.

“iTraveller has been getting good traction both from customers and other strategic partners,” said Abhijeet Kumar, founding partner, ah! Ventures.

“Our singular focus is to achieve scale, from the current 20-room nights a day to over 100-room nights, within 12 months,” said founder & CEO Radhakrishnan.

News In Shorts raises Rs25 crores led by Tiger Global 

News In Shorts, a mobile app firm that publishes top news stories in 60-word bite-sized portions, has raised Rs 25 crore in funding led by Tiger Global along with participation from Rebright Partners of Japan and existing investors Flipkart’s Sachin and Binny Bansal.

Founded by Iqubal, Deepit Purkayastha, and Anunay Pandey, News In Shorts was part of the fourth batch of Times Internet’s accelerator T Labs. Currently, the app publishes around 60 articles per day and plans to increase to 300 in the next 3 months and also expand its manpower from 16 to 60.

“Clutter free and immensely fast, News In Shorts gains the faith of a user in a short period of time. We believe in the immense potential and high traction that the application is already getting, and this round of funding will give wings to their ambitions,” said Flipkart’s CEO Sachin Bansal.

Faasos Food raises Rs 120 crore

Pune based Faaso’s Food Service, a technology based fast food chain has raised $20 million (Rs 120 crore) in fresh round of funding led by Lightbox Ventures. Existing investor Sequoia Capital also participated in this round of funding.

The deal is of $16 million equity investment by Lightbox and Sequoia, and a $4 million debt. The funds will be used to expand in more cities.

Founded by Jaydeep Barman and Kallol Banerjee, Faaso’s currently operates 90 distribution centers across 6 cities like Pune, Mumbai, Bangalore, Chennai, Ahmedabad, and Baroda.

“We expect to break even by March 2018 on revenues of Rs 450 crore,” said Jaydeep Barman, CEO of Faasos.

Ratan Tata invests in auto classifieds portal CarDekho

Ratan Tata, Chairman Emeritus of the Tata Sons conglomerate has invested in his personal capacity for the first time in auto portal However, the financial detail of the deal has not been disclosed. Like the previous deals Tata will have a minority stake in the venture.

GirnarSoft which owns and operates, was founded by Amit Jain and Anurag Jain. Tata himself an auto enthusiast, has agreed to advise the company as and when required.

“We are extremely excited to partner with him (Tata) considering his contribution to the growth and development of the Indian automobile industry. Following our humble beginning as a small venture in Jaipur, CarDekho has had a very exciting journey to reach this point of recognition and we now have a very aggressive plan for developing our business and boosting revenues in the future,” said Amit Jain.

Earlier, Tata has invested in the e-commerce industry such as SnapDeal, Urban Ladder, and BlueStone in his personal capacity.

Above all, Tata has turned as an advisor to early-stage venture capital fund Kalaari Capital. Tata will lend his expertise to guide and mentor Kalaari’s portfolio companies which manages $350 million under its venture.

Capital Float raises $13 million

Capital Float, an online lending platform has raised $13million (Rs 80 crore) in series A funding co-led by SAIF Partners and Sequoia Capital. This round also saw participation from existing investor Aspada Advisors.

The funds will be used to hire, launch new products, expand technology, and penetrate in newer cities like Jaipur, Ahmedabad, Ludhiana, Jodhpur, Bhatinda, and Chandigarh.

Founded in 2013 by Sashank Rishyasringa and Gaurav Hinduja, Capital Float provides working capital loans to underserved small business in India.

“We’ve seen a lot demand in the e-commerce segment. The big push is to scale up nationally as we are seeing demand coming from tier-1, 2, and 3 cities. Also, the focus is to launch a new set of products to cater to a wider group of SMEs beyond e-commerce mainly traditional SMEs in services and manufacturing,” said Sashank Rishyasringa.

AngelPrime invests Rs 3 cr in Nimble Wireless

Chennai-based Nimble Wireless has raised $500,000 (about Rs 3 crore) from AngelPrime, a seed-stage fund based in Bengaluru. The funds will be used to develop new technologies and expand presence.

Nimble Wireless, specializing in the industrial internet of things sector offers customized products that can help machines talk to one another in verticals such as transportation, logistics, telecom infrastructure, green energy and healthcare industries.

“This investment and partnership with AngelPrime will further boost Nimble’s growth. We hope to leverage expertise in accelerating the scaling up process and build leadership in our existing markets, both in the US and in India,” said Siva Sivakumar, CEO of Nimble Wireless.

Practo Technologies raises $30 million for expansion

Practo Technologies, a healthcare startup which helps people to find doctors online has raised $ 30 million (over Rs 185 crore) in a fresh round of funding led by existing investor Sequoia Capital. This round also saw participation from Matrix Partners. Matrix India Managing Director Avnish Bajaj will be joining Practo’s Board of Directors.

The company plans to use the funding for expansion in nearly 30 Indian cities and overseas markets by March 2016. The platform has over one million users book 1,20,000 appointments via Practo Search, every month.

Currently, the company has presence in cities such as Delhi, Mumbai, Chennai, Hyderabad, Bengaluru, and Pune in India apart from having footprints in Singapore and Philippines.

20Dresses raises $1 million in angel funding

20Dresses, an online platform for woman styling has raised $1 million in funding from a clutch of angel investors including Srinivas Aluri, MD at Morgan Stanley, ex-Lehman Brothers executive Srinivas Modukury and BS Nagesh, founder of Trust for Retailers.

The amount will be invested in technology, people, and infrastructure.

“We only sell our own brand which makes our products unique and allows us to maintain healthy margins while still keeping our products at extremely competitive price points,” said Sumant Kasliwal, founder and CEO of 20Dresses.