Indian Startup and Business News #StartupDaily

Two-Wheeler rental Startup Bounce got $3 Million venture debt

Bengaluru-based two-wheeler rental service Bounce has raised nearly $3 million in venture debt led by lending firm InnoVen Capital. Founded in 2015 as Metro Bikes, the rental startup plans to use the newly acquired capital for the expansion of its service base.
A lack of convenient and affordable commuting options in the country calls for entrepreneurs to explore the space. Nowadays, more and more startups have come forward to build bike rental platforms with unique offerings. Other scooter-rental platforms include- WheelStreet, Stoneheadbikes, ONN Bikes, Tazzo Technologies, LetzCycle, RentOnGo, RenTrip, etc.

Reliance Industries invests $8 million in NetraDyne

Reliance industries have pumped in $8 million in AI-powered startup NetraDyne, its second investment in two years. With the latest round of cash infusion, Reliance now owns 37.4 % stake in the startup. Headquartered in Bengaluru and San Diego,  the startup offers vision-based on-road safety platform- Driveri. NetraDyne uses  Artificial Intelligence in videos to analyse and detect casualty or emergency and activity of the drivers on roads to notify the fleets with the real time information.

Online Payment startup Stripe raises $254 Million

Silicon Valley’s digital payment platform Stripe has secured a whopping $254 million funds in the latest round of funding led by Tiger Global Management, Sequoia, and DST Global.
The cash infused will be used in expanding its operations in Southeast Asia and building a global engineering team. Its customers include some of the Silicon Valley giants like – Alphabet Inc. and Spotify. Recently it has tied up with Alipay and WeChat Pay to accept payments from its Chinese merchants.

Indian food Brand Sattviko to step into international market

Sattviko is all set to expand its operations and enter into the global market. Gearing towards expanding its base in Dubai this month and the US in the nest month, the food brand focuses on penetrating the cosmopolitan markets of Middle East and UK with significant Indian settlement. The packaged food company has been awarded “Best food Brand of India” during the 3rd National Entrepreneurship Awards in 2017, by Ministry of Skill Development, Government of India. Currently, Sattviko has its presence across Delhi, Mumbai, Bengaluru, Hyderabad, Pune and will launch in Kolkata shortly.

Tripoto prepares for fresh fund infusion of around $6-7 million

Travel startup Tripoto to raise around $6-7 million in a Series B round of funding led by a Chinese group and two new investors. With existing investors backing up the Delhi-based startup, this funding round will be the fourth capital infusion after securing $2 million in 2017 following an undisclosed amount in Pre Series A round earlier.  The social travel platform intends to deploy the funds to expand its reach to global travellers and generate high-quality content.

Housing platform Stanza Living scoops $10Million

Delhi-based student housing platform, Stanza Living has raised funds worth $10 million in a round led by American venture capital firm Sequoia Capital. Existing investors, Matrix Partners and the California-headquartered Accel Partners also participated in the latest round of funding.The fresh infusion of funds will be deployed to expand its market, boost its technology and strengthening its team by hiring talented and skilled individuals. The tech-enabled accommodation platform, Stanza Living promises to provide world-class residences and co-living spaces for students to live in.

NetMeds acquire doctor consultation platform, JustDoc

Chennai-based online medical store NetMeds Marketplace Pvt. Ltd has acquired Bangalore-based online doctor consultation app JustDoc for an undisclosed amount in a cash-and-stock deal. JustDoc was founded in August 2015 by IIT graduates Jugal Anchalia, Abhishek Kumar and Vikash Singh. With this acquisition, the online pharmacy NedMeds aims to bring JustDoc’s extensive and experienced physician network onboard and intends to offer healthcare, lifestyle and patient consultation. NetMeds serves to at least three lakh patients across the country in over 19,000 pin codes areas.

Flipkart acquires Upstream Commerce

Flipkart has acquired an Israel-based data science-based start-up called Upstream Commerce at a deal reportedly around $40 million. The Walmart-backed India’s largest online retailer plans to integrate its customer base with services such as real-time pricing and bolster sales through technological innovations. With the second acquisition of Flipkart this year, the e-commerce major prepares to enter the Israeli market. Earlier in September, Flipkart was reported to purchase stakes in the video streaming service, Hotstar.

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