This week in Indian Startups funding news (16-21 April)

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This week 16 startups received funding, of which 13 received a total sum of about $74 million. Among them, True Balance raised the highest investment of $23 million, followed by Chai Point, which raised about $20 million.

Meanwhile, funding for three of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

List of disclosed funding deals this week

True Balance: Mobile management services-cum-digital payments startup True Balance has raised $23 million in a bridge round of funding from Japan-based global messenger Line Ventures Corporation, Korean search engine Naver, Korean lender Shinhan Bank along with TS Investment and other partners.


MamaEarth: Bollywood actress Shilpa Shetty Kundra has invested $0.25 million in MamaEarth–an online baby care products startup.

Chai Point: Tea brand Chai Point has raised $20 million in Series C round led by Paragon Partners. Existing investors – Eight Roads, Saama Capital and DSG also participated in the funding round.

Coverfox: Online insurance brokerage firm Coverfox has raised about $7 million as a part of Series C round. The first tranche was raised in June last year when the Mumbai-headquartered firm raked in $15 million led by US insurer Transamerica.

Lynk: Intra-city mini-truck aggregator Lynk has raised about $3 million from existing investor Ramco Group and the promoters – P.R. Venketrama Raja (Chairman – Ramco Systems) and Abinav Raja–the co-founder of the Chennai-based startup.

Also Read: Exclusive: Drivezy raises $8 Mn in the second round of Initial Coin Offering

Cogoport: Online freight aggregator Cogoport has secured $6.2 million Series A round of funding led by venture capital firm Accel Partners.

ShopX: Assisted e-commerce startup ShopX, which partners with retailers and kirana store owners in smaller towns, has bagged $2 million from existing investor Nandan Nilekani–a former UIDAI chairman and Infosys co-founder.

Sleepy Owl: Cold brew coffee e-tailer Sleepy Owl has raised $0.5 million in a seed round led by Deepak Shahdadpuri-led venture capital firm DSG Consumer Partners.

Affordplan: Fintech startup in the healthcare space, Affordplan has raised about $8.5 million (other reports quote $10 million) in Series B round from Lok Capital and Omidyar Network.

Zocalo: Brokerage free hostel and apartment rental listing platform Zocalo has secured fresh funding of $0.21 million from Xander Group–a global real estate & investment firm.

Pando: Digital player in the logistics sector Pando has raised $2 million in seed round led by Nexus Venture partners.

PaisaDukan: A P2P Lending marketplace owned by Fintech startup BigWin Infotech has secured seed funding of $0.65 million.

Icanstay: Luxury hotel aggregation startup Icanstay has raised $0.2 million in angel funding.

Undisclosed deals this week:

Expense management startup Fyle, agritech startup AgNext, Bangalore based startup PregBuddy, did not disclose their quantum of the deal.

*Every week we track startups that have raised fresh investment. Stay tuned for next week funding roundup.

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