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Funding in Indian startups this week (20 May-25 May)


This week 13 Indian startups received funding, of which 10 received a total sum of about $47 million. Among them, iValue raised the highest funding of about $18 million followed by Spinny which raised about $13.2 million.

Meanwhile, funding for 3 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

Spinny: SAIF Partners has led a $13.2 million (Rs 92 crore) Series A round in Spinny along with Accel. This is a mix of equity and venture debt round where Alteria Capital, Simile Ventures, and Blume Ventures are also participating.

Fyle: Expense management startup Fyle has received $0.15 million from Freshworks and several other HNIs.

iValue InfoSolutions: Private equity firm Creador’s affiliate Sundara (Mauritius) Ltd, has invested $18 mn in enterprise focussed IT solutions company, iValue InfoSolutions Pvt Ltd. (iValue).

TVF: Tiger Global Management has invested around $4.7 million in Contagious Online Media Network Pvt. Ltd.,  parent company of video content platform, The Viral Fever (TVF).

Niki.ai: AI-based chatbot for online transactions Niki.ai has raised $0.54 million from a series of investors including Hansjoachim Koehler of HJK Capital, Asian E-commerce Alliance, Vistra ITCL as a trustee of AL Trust, and others.

MyMobiforce: AI based crowd-sourcing platform MyMobiforce has raised $0.02 million as angel funding from US based angel investors – Arpan Prakash, Senior Siebel Consultant at Southwest Airlines and Sanjiv Mital, Chief executive at National Institute of Smart Government (NISG).

Awfis: Co-working space provider Awfis has secured $3.57 million in the second tranche of Series C funding from Sequoia and Yes Bank family.

LocoNav: Delhi-based fleet management startup LocoNav has raised $4 Mn in a Series B  funding round from Sequoia Capital.

RentoMojo: Furniture and appliance leasing startup RentoMojo has received $0.71 million in debt funding from Infosys co-founder Senapathy Kris Gopalakrishnan via non-convertible debentures.

Freight Tiger: Logistics startup Freight Tiger has raised $2 million in funding from Alsthom Industries Ltd.

Undisclosed deals this week

Interior and home decor startup Livspace, edtech startup XploraBox and vernacular hyperlocal news platform PublicVibe did not disclose their financial details on funding.

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

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