Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]
BabyChakra fixed in funds from Mark Mobius and others
Online parenting startup BabyChakra has raised an undisclosed amount of funds in the fresh round of its pre-Series B. The investors include Mark Mobius, Facebook director Anand Chandrasekaran, OYO chief strategy officer Maninder Gulati, Equanimity Investments founder Rajesh Sehgal, Gideon Marks, a Silicon Valley investor, Eitan Toledo, senior director at Apple among others. Founder, Naiyya Saggi and chief executive at BabyChakra said, new funds will be invested in technology to broaden this aspect.
Verzeo racks up $5 million from HNI’s
Verzeo, a Bengaluru based educational startup have procured funds of $5million in a Series A funding round. The undisclosed investors are some of the high net-worth individuals (HNI) of India. Founded by Vungarala V Subrahmanyam, a 20-year-old, Manipal Institute of Technology dropout, it plans to deploy the funds to set off research and development and enhance marketing necessary for the expansion of the product. Verzeo also managed to raise an undisclosed amount through seed-funding earlier this year.
Tonetag: Enabling transaction via sound waves
It all started when a Singaporean friend asked Kumar Abhishek "why Indian shopkeepers hand candies instead of balance cash"? He realized the massive gap in accessibility of digital payment space. Along with his friend Vivek Singh, he started ToneTag, a Fintech and Retail Solutions company in September 2013.
Tonetag incorporated sound waves to make offline, proximity-based, contactless transactions and doesn’t require QR code nor NFC enabled phones. Investors in ToneTag include Amazon, Mastercard, Reliance Capital, 3one4 Capital, Amansa Capital.
ToneTag has raised $1.3 Million in funding from an overseas investor, Tropical Star Limited.
Sun Pharmaceuticals to secure 18.75% stake in Tarsius Pharma.
Sun Pharmaceuticals Industries Ltd, India’s biggest pharmaceutical company, to purchase 18.75% stake in Israeli-based firm Tarsius Pharma with a total cost of acquisition of $3 million. Drug major’s one of the wholly-owned subsidiaries has agreed to acquire 3,45,622 shares of Tarsius Pharma. Tarsius Pharma is an early-stage research and development company focusing on the development of drug candidates in the field of Ophthalmology.
After the announcement was made in the trading hours, Sun Pharmaceuticals rose 1.14% to Rs.646.80 in BSE. “Indicative time period for completion of the acquisition is before September 15, 2018,” Sun Pharma said.
Cure.Fit features celebs in its first campaign
Cure.Fit, India’s most well-funded health and fitness startup launched its first ever brand campaign #ForTheLoveOfFit part of which featured a video with Bollywood stars like Hrithik Roshan, Tiger Shroff, Milind Soman and Cure.Fit brand ambassador and Indian national cricket team opener KL Rahul in it.
Partnered by Happy Mcgarrybowen, the digital campaign aims to showcase the entire spectrum of what the Cure.Fit app wishes to offer and to shift the people’s perspective of fitness from mundane to something fun and accessible through holistic health solutions.
Founded by Mukesh Bansal , former CEO and co-founder of Myntra, the fitness app has earlier acquired brands like Serenity, Cult, The Tribe, Kristys Kitchen and a 1000 Yoga.
Eco365 offers for a sustainable living
Bengaluru-based water conservation startup Eco365 is helping corporates and individuals to save water and adopt environment-friendly ways. Founded by Goutam Surana, Eco365 provides a wide range of sustainable products to contribute to health & hygiene of individuals & community at large, from products like an anti-pollution mask, toilet hygiene seats and compostable garbage bags to cotton hankies, foam soap dispensers to water saving products like fixtures, aerators, taps etc.
Goutam Surana quit his IT job in 2010 to create awareness about water conservation and after six months of research, started Eco365.
MS Dhoni racks up 25% stake in Run Adam
Former Indian cricket captain MS Dhoni has acquired 25% stake in Run Adam, a sports tech startup, for an undisclosed amount. Run Adam is India's first sports tech startup that enables potential athletes to connect with various sponsors, experts, coaches, academies, specialists, etc. The platform offers services to both professional and amateur sportspersons. CEO and MD of Run Adam, Yeraga Selvan said, “We have more than 1000 pro-athletes on our platform who represent India at various international competitions such as CWG, Asian Games etc.” Hima Das, Sharath Kamal, Neeraj Chopra, Dipa Karamakar are some of the notable clients on their platform.
Ever thought of booking a priest through your mobile phone? Well, you can now. With apps which provide services like booking Priests for Puja, various Puja Samagri, Puja idols, etc., Puja services are just a click away. With a drop-down menu of the app giving several options including a priest with language preference, there surely isn’t anything that technology cannot bring home.
The Indian spiritual and religious market is one of the largest and unorganized. With a value of $40 billion in the country of a population of over 1.2 billion worshipping 300+ gods and goddesses, makes it quite profitable. Considering Bengaluru an IT hub with majority of migrants is what makes it a potential market.