India has always been home to some great startups and business in India has a lot of scope than the saturated United States or other countries. Cultural diversity plays a major role in distinct skillsets and using them for business and growth.
This past week from 21st September to 26th September 2020, almost 12 Indian startups raised funding with a total sum of $118 Million for 9 of such startups. The amount of 3 deals and fundraises have been undisclosed by the companies.
The biggest funding was secured by ShareChat that raised approximately $40 Million alone.
Following are the closed deals of this week, how much funding was raised by which company?
ShareChat: ShareChat is a vernacular social media platform that has successfully raised $40 Million in the pre-E series funding round, led by SAIF Partners and Lightspeed India.
Servify is an after-sale service provider for electronic gadgets and it has raised a funding of $23 Million in the Series E funding round which was led by backer Iron Pillar. They are the existing investors in the company.
In the series D funding round, the kids’ fashion brand raised $25 Million led by Eduardo Severin’s Lionrock Capital, EE Capital, RPG Ventures and IGL seed ventures who also the co-founder Facebook.
An Artificial Intelligence Startup company raised $0.75 Million from Shankeshwar Technologies LLP as an angel funding. There is a lot of scope of AI in the upcoming future.
BestDoc is a SaaS-based company that has successfully raised $2.2 Milion in the Series A funding round from huge investors like Arkam Ventures and Accel. BestDoc is a patent relationship management company.
i3 systems is an Insurance-technology startup business that in their Series A round raised $1.5 Million which was led by United Ventures and other existing investors.
It is an online electronic Jewelry Store that has raised the funding $12.5 Million in the funding led by Symphony Asia.
$1.5 Billion have been raised by the Media Production Company, Rephrase.ai in a funding round led by AV8 Ventures and LightSpeed Ventures.
Ositego is an after-sales service provided that has recently successfully raised $11 Million in its Series B funding round from IFC – International Financial Corporation.
Furthermore, three other startup companies did not disclose their financial details and happenings at the company.
- WeInnovate Biosolutions