This week turned out to be a very forgetful and lackluster week for the Indian startups. All that Indian startups could garner was merely $8.95 million that were raised across 9 deals. This is a significant 86% drop from last week’s funding that saw funding of almost $65 million. Not to mention this week the Indian startup world got a big jolt with shocking resignation of Flipkart’s co-founder Binny Bansal. For the first time in its illustrious history Flipkart was left without a founder at its helm. However, this article won’t focus on this sensational issue and will restrict to weekly funding. So here are this week’s top 5 biggest funding news.
Perpule: Bengaluru based Perpule, which has created India’s first self-checkout App, raised this week’s biggest funding round. It raised nearly $4.7 Mn from Prime Venture Partners along with Kalaari Capital and Venture Highway. In case if you are wondering about what this self-checkout app is all about. Then Perpule 1 Pay app helps you prevent from the hassles of waiting in a long queue at malls & supermarkets with its self-pay and self-checkout services. This obviously helps in a big way in improving customer experience.
Perpule had raised seed funding last year in March. With the latest funding, the Bengaluru headquartered startup’s total funding has reached to $5.3M.
MilkBasket: With MilkBasket reportedly raising more funds this week, it appears that Investors are taking big bet on milk delivery startups. According to VC Circle, MilkBasket raised $1.37 Mn from US headquartered VC firm Mayfield Fund. This is MilkBasket’s second fundraising round in the current year, with Gurugram based hyperlocal startup having raised $7 million in May this year.
MilkBasket competes with well-funded startups like Dailyninja, which recently acquired WakeupBasket.
DriveU: Transportation startup DriveU, which helps in hiring professional drivers, raised $1 Mn from California-based Stevens Creek Ventures. It had raised $3 Mn in pre-Series A round in March. The startup is based in Bengaluru and currently offers services in Bangalore, Chennai, Pune, Delhi and Hyderabad.
Hoi Foods: Hoi Foods, which is based in Gurugram, secured $500,000 (Rs 3.6 crore) in pre-Series A round. The round was led by crowdfunding platform 1Crowd and also saw participation from early stage investment firms Gemba Capital and Prime Holdings. Hoi Foods offers tasty and fresh food to budget hotels in Delhi-NCR region.
Biizlo: Biizlo, which offers security to residential societies through its mobile app, raised $500,000 from security professionals Joge Bharadwaj and Ritesh Sharma. Incorporated in 2017, Biizlo aims to safeguard societies from potential crime through its comprehensive security app. This was angle funding round for the Mumbai based startup.