Indian Startup and Business News #StartupDaily

CleanseCar sweeps an undisclosed amount in a seed funding round

CleanseCar, a Bangalore-based daily startup has announced raising funds from angel investor Dhianu Das for an undisclosed amount in a seed funding round. CleanseCar is a car cleaning and repair service provider that aims in providing car solutions by opting environment-friendly methods and processes for millions of car owners across the country.
The car wash startup plans on utilizing the fresh capital to expand their operation base and invest in research. They plan on expanding to various cities like Chennai, Pune and Hyderabad.

NewsBytes raises $1 million funds led by German Publishing firm

Gurugram-based digital media startup NewsBytes has secured $1 million in a funding round steered by German publishing firm Mueller Medien’s investment arm MM Inno GmbH. Powerhouse Ventures and other existing investors including Mumbai Angels also participated in the latest round. The company plans on utilizing the fresh funds to strengthen the platform using the artificial intelligence (AI) engine to curate and disperse news across. The startup also plans to incorporate more vernacular languages and video content in its website.

Instamojo gets an instant upgrade

Bengaluru-based online payment platform, Instamojo has pitched an update of its payment link product for its customers called SmartLinks. With the introduction of this new product will enable small merchants and business to adopt new features and customize the payment system. The MSME focused company aims to expand its customer base. They believe innovations like SmartLinks could aid the process. The features of the upgraded link will enable customers to auto-expire payment links, provide an option to buyers to edit the payment amount, collect GST details during payments, change the colour of the link etc.

LetsVenture initiates LetsGrow for startups

LetsVenture Bengaluru-based online funding platform LetsVenture has launched an initiative ‘LetsGrow’ to facilitate transition of amateur start-ups from seed stage to Series A and B funding rounds. The online marketplace would assist the startups to understand the right metrics to raise “growth” capital of $1-5 million. Vivek Khare, angel investor in Zomato, Meritnation, and Cashify, and former leader at investments and corporate development at InfoEdge, will lead the LetsGrow team as director of strategy.

Cyclop pulls in funds of $1 million from Unitus Ventures and others

Medtech firm Cyclop has secured funds worth $1 million in a funding round led by Unitus Ventures- a Bengaluru-based venture capital firm, existing investor C P Bothra, founder, COO and MD at Medreich Limited India, among others. The medtech firm which won the coveted NASSCOM Emerge 50- League of 10 Award, plans to utilize the fresh capital to scale up its facility base in India as well as the rest of Asia.

UiPath raises $225 million in Series C

Robotics process automation (RPA) startup UiPath has raised $225 million in Series C round of funding steered by existing investor Accel  Partners along with Google‘s late-stage growth venture capital fund CapitalG and Sequoia Capital. This funding round pulled the valuation of the startup to $3 billion. The latest fund infusion has tripled the valuation of the AI-ML driven startup in less than six month. UiPath aims to scale up and expand across different Indian cities Chennai, Pune, Hyderabad and Kolkata. Besides, it aims to augment in existing cities.

ShareChat scoops Rs.720 Crore ; led by Shunwei Capital and others

ShareChat, a regional language social networking site has managed to raise a funding of Rs. 720 crore. Existing investor Shunwei Capital along with new investors Morningside Ventures of China and Jesmond Holdings, an affiliate of Russian billionaire Yuri Milner’s DST Global led the funding round. Smartphone maker Xiaomi and venture capital firms SAIF Partners and Lightspeed Venture Partners also participated.  The firm plans on utilizing the fresh capital on diversifying into other channels. With the latest pouring of funds, the firm’s valuation can make it to Rs. 3,332 crore.

LivSpace procures $70 million in latest round of funding

LivSpace, an India-based interior design startup has closed a $70 million in a Series C funding round led by Goldman Sachs and TPG Growth. Existing investors of the startup- Jungle Ventures, Bessemer Venture Partners and Helion Ventures also participated in the round. The home interiors and renovation startup makes designers and vendors accessible to the home owners. Livspace has its operation across seven metro areas in India including Bengaluru, Mumbai, Delhi and Hyderabad. The company will utilize the fresh capital to expand its operations to 6 more Indian metro areas by 2019, to build its offline presence.

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