Deals this week

Deals this weekTravel app Trip38 raises Rs 6 crore in funding

Trip38, a travel management app has raised about Rs 6 crore ($1 million) in funding from InterGlobe Technology Quotient, the parent of Indigo airlines, and Singapore based Lantern Capital.

The funds will be used to improve technology, product features, and to expand consumer base through effective marketing.

Founded by Niranjan Gupta, Seshadri Krishnan, and Markish R, Trip38 app has been downloaded across 170 countries. The app provides context sensitive, location content in terms of flight e-tickets, flight status, airport information, sightseeing options, restaurants, local events, weather, etc on the traveler’s smart phone with their confirmation vouchers and flight tickets.

Currently, Trip38 is focusing on gaining traction with app downloads and app usage.

HomeLane secures $4.5 million funding from Sequoia Capital

HomeLane, a technology-led home solutions startup backed by entrepreneur duo K Ganesh and Meena Ganesh, has raises $4.5 million in a funding round led by Sequoia Capital. This round also saw a personal investment by billionaire investor Ranjan Pai and Mohandas Pai, a former board member of Infosys and Chairman of Manipal Global Education.

The funding would be used to expand in 10 cities over the next six months and also hire interior designers from around the country.

Founded by Srikanth Iyer and Rama Harinath, HomeLane supplies customizable kitchens, wardrobes, and entertainment units where the focus is on modular, fixed furniture.

“HomeLane is disrupting the unorganized and inefficient home set-up market with its technology led design, manufacturing, and installation services that guarantee timely and cost effective delivery for the consumer,” said G V Ravi Shankar, MD, Sequoia Capital India Advisors.

SquadRun raises seed funding

SquadRun, a mobile marketplace for crowdsourced work, has raised seed funding from Amit Ranjan, founder of Slideshare, and Deepinder Goyal, founder of Zomato. This round also saw participation from Zishaan Hayath, founder of Toppr and Girish Khera, co-­founder of medical animation studio Scientific Animations along with angel investors from Powai Lake Ventures.

The financial detail of the funding has not been disclosed but the same will be used to scale up its ops and hire talent.

Founded byApurv Agarwal, Kanika Jain, and Vikas Gulati, SquadRun helps businesses crowdsource microtasks that require human intelligence. Its gamified app allows users to make money by completing simple tasks of various businesses on their phone, as if they are playing a game.

SAIF Partners to invest $2 million in industrybuying.com

Venture capital firm, SAIF Partners has invested USD 2 million in industrybuying.com, an industrial e-commerce company.

“The amazing momentum the industrybuying.com is experiencing is encouraging and we believe our capital infusion can help them grow faster. The industrial e-commerce model is proven in the US and Chinese markets,” said Mukul Singhal of SAIF Partners.

This funding would be used to continue traffic growth, expand product coverage, and drive massive revenue growth.

industrybuying.com facilitates industrial products for the e-commerce sector and is currently hosting over 500 brands, 1000 suppliers, and 1.5 lakh products online.

Its online ecommerce and offline corporate customers include Motherson Sumi, Havells, RPG, Honeywell, Siemens, Tata Power, and Escorts.

FreshWorld raises funding

Bangalore-based startup, FreshWorld has raised an undisclosed amount in a funding round led by angel investor Nagaraja Prakasam who finalised the deal for Indian Angel Network. Infosys co-founder Kris Gopalakrishnan is also co-investing in FreshWorld.

The funding will be used to scale up its retail network, upgrade its carts, and improve technology.

Founded by entrepreneur Rajiv Rao, FreshWorld sells fruits and vegetables like a street vendor using electric carts. Each cart uses a tablet, printer, and communication technologies to provide receipt, track inventory, and analyse data to understand customer purchase behavior.

“FreshWorld is in line with my vision of supporting sustainable technologies in solving problems. I feel this is the next-level disruption in the fruits and vegetables industry,” said Gopalakrishnan.

TinyOwl raises Rs 100 crore

TinyOwl, a food ordering platform has raised Rs 100 crore in venture capital funding led by Matrix Partners India along with participation from existing investors Sequoia Capital and Nexus Venture Partners.

Founded by Harshvardhan Mandad, Gaurav Choudhary, Saurabh Goyal, Shikhar Paliwal, and Tanuj Khandelwal, TinyOwl plans to use the funds to expand across metros.

“There are immense problems in the food business. Consumers would like to automate their food requirements for which we will have to invest in the entire infrastructure,” said Mandad.

“We think players who win this space will need to have a great product, an integrated approach and a good team which can attract the best engineering talent,” said Gourav Bhattacharya, vice president at Matrix Partners.

Grofers raises Rs 62 crore funding

Grofers, an on-demand delivery startup has raised Rs 62 crore ($10 million) in venture capital funding led by investment firm Tiger Global Management. This round also saw participation from existing investor Sequoia Capital India.

Founded by IIT graduates Albinder Dhindsa and Saurabh Kumar, Grofers’ mobile app or website helps users to get grocery, cakes, and other items delivered within 90 minutes. Post this deal the company is estimated at a net worth of Rs 205 crore ($33 million).

“Local retailer penetration in India is very high and there are a lot SKUs (stock keeping units) available to customers in a small catchment area. We want to bring that SKU availability online,” said Dhindsa.