India Startup Funding Update, Dec 2
Dec 2, 2018
1. Zomato hits 21 million monthly food orders in India, and claims to be the market leader in the food ordering space in the country.
2. Iron Pillar, a mid-stage-focused venture capital (VC) firm, has made the final close of its $90 million maiden fund, plans to invest in 9-10 deals but with large ticket sizes of about $5-10 million.
3. US-based company Snapchat has hired former Twitter India head Raheel Khursheed to head its India operations.
4. Online car classifieds Cardekho has raised $75 million in Series C round from new as well as existing investors, reported Entrackr.
5. Omidyar Network is looking to invest roughly $250 million in Indian ventures and organizations over the next four-to-five years, reported LiveMint.
6. Fintech startup EarlySalary faced a cyber attack which compromised about 20,000 of its applicants’ data,
7. GO-JEK to hire upto 200 engineers in Bengaluru for key roles across various product verticals including Data Scientists, Full-stack engineers, Data Engineers, Product Managers, UI/UX designers and Backend Engineers to cater to its portfolio of 18 products that has a reported reach of more than 70 million users in Indonesia.
8. Digital payments firm PayPal today announced the launch of its first merchant focused app in India, PayPal for Business, to help small and medium merchants and freelancers conduct domestic and cross border business.
9. Cognizant said it has agreed to buy digital engineering and consulting company Softvision, for an undisclosed sum.
10. Uber plans to strengthen its technology team in Hyderabad and Bengaluru as it looks to drive growth in India.
11. Food-tech firm Innerchef has raised about $1.76 million (Rs 13 crore) in a fresh funding round led by Japanese venture capital firm-cum-accelerator Mistletoe at a valuation of $25 million, reported VCCircle.
12. Gurugram-based edutech platform NeoStencil is in talks with investors to raise $5-7 million by the end of this year, reported ET.
13. Pune-based Ntex Transportation Services Pvt. Ltd, which runs logistics startup ElasticRun, has raised close to Rs 60 crore ($8 million) in a fresh funding round, reported VCCircle.
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