Weekly Spotlight | 5 Indian Startups that raised funding this month!

Weekly Spotlight | 5 Indian Startups that raised funding this month!

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imgnobroker1. NoBroker:
Tired of brokers burning a hole in your pocket every time you go house hunting? Amit Agarwal and Akhil Gupta, from Bangalore, went through the same hassle while looking for the perfect place to stay, and decided to create a platform where house hunters can interact with the owners on a one on one level.

NoBroker allows home-seekers and home-owners to connect without having to deal with middle-men, or brokers. The concept is simple – if you are looking for tenants, you can put up your property on their website, where people looking to rent a house can get in touch with you directly.

The company ensures that properties on the site are genuine by verifying each listing for its content, photo, location, and broker-free ownership. “Our algorithm is designed to keep the broker out of the system. When a new customer registers on our site, the algorithm works in the background and validates the user in around two minutes,” says Agarwal.

NoBroker was angel-funded by Saurabh Garg, co-founder of Four Fountains De-stress Spa. He is one of NoBroker’s mentors, as well. Last year, the startup raised a funding of US$3 million from SAIF Partners and Fulcrum Ventures. The initial investment was spent on setting up operations.

After strengthening its position in Mumbai and Bangalore, it has recently expanded to Pune and Chennai. “We will have operations in 20 cities by the end of December this year,” Agarwal said.

Recently, NoBroker made headlines for receiving a funding of USD 10 million(INR 68 Cr) in series B funding, which was led byBeenext and Digital Garage, along with Beenos, Qualgro and Mamoru Taniya of Asuka holdings. Existing investor SAIF Partners has also participated in this round.

“This funding will help us in getting good technology talent on board and enhance the product offering and thus improve the overall customer experience,” NoBroker CTO and Co-Founder Akhil Gupta said.

The company also states that the current investment has come at a time when it is seeing exponential growth in customer base!

18666_large2. DriveU:
Started by Ramprasad (Rahm) Shastry, Ashok Shastry and Amulmeet Singh Chadha, Humble Mobile Solutions is the parent company behind the new on-demand service app in town – DriveU.With DriveU owners of private vehicles can ask for a driver or a chauffeur, with a single click. Once you have set your location and time, the app assigns a driver to you. You can track the assigned driver in real-time. When the driver reaches the assigned location, you hand over the car keys and he drives you to your destination. During the ride, you can keep a track of the fare. Fares start at Rs 89 per hour. Once you’ve reached the destination, stop the ride and pay within the app (cashless) or in cash. You can give ratings to the driver, and share feedback on the service.

On 29 February 2016, DriveU acquired an undisclosed funding from Unitus Seed Fund.

The company is planning to utilise the said funding for enhancing their technology, improving on road commute service and to hire new talent.

DriveU draws a strict line for drivers and follows a very firm protocol while selecting them for the job. Company claims that it verifies each driver by police and RTO before enrolling them for the job. Currently, DriveU operates from four cities including Bangalore, Chennai, Mumbai and Delhi. As per the company, till now, it has served 6000 customers and among them, 60 per cent are women. With the raised capital, the startup looks to expand its network to 100,000 drivers in 20-30 cities in a couple of years.

Invest_Edubrige_550x2103. EduBridge:
Started in 2009 by a group of IIM alumni and professors, EduBridge is an education and training company that seeks to transform the lives of unemployed youth in rural and semi-urban India. It has partnered with National Skill Development Corporation (NSDC) to help to train India’s rural and semi-urban youth.

Mumbai-based skill development and vocational training platform, EduBridge, also made the news recently, for raising a $2.5 million (INR 17.1 Cr) in Series A round of funding, led by Insitor Impact Asia Fund, and existing investor Acumen Fund.

Apart from strengthening their existing presence, the firm plans to use the money to expand operations to Gujarat, Odisha, Jharkhand and Bihar.

Girish Singhania, founder of EduBridge Learning, said, “We also plan to spend on integrating various technological applications into our system, improving the accessibility of our services in rural India.”

1625540_792689194148819_7828524122385970784_n4. Funcart:
Ritika Sethi Nangia, a B.Com (Honours) graduate from Jesus & Mary College Delhi University and post graduate in Retail management from NIFT New Delhi, noticed that retail stores were selling party supplies at exorbitant prices. Not only this, she also realized that given the busy schedule of people now-a-days, it is far simpler for the entire family to sit together once, and decide on things revolving around throwing a decent party – such as decorations, wearables, dining supplies, and more.

 

Inspired by the Strategic Management and International Business course she took from Harvard University, and being n entrepreneur at heart, Nangia worked for 4 years before she chose to start Funcart in March 2015. Funcart offers you one stop shop for all your part planning needs. Whether you’re prepping up for birthdays, anniversaries, bachelorettes, Baby Showers, festivals, holidays, or fun theme gathering, this online portal has everything you could ever want for throwing the best party ever.

No matter what the occasion is, you will find a huge and exclusive range of party supplies at Funcart, all year round. Since they carry their own entire inventory, customers don’t have to worry about back-ordering or long border delays.

You can also save money through our “Party Fun Box” that bundle up all the party supplies you need at a saving; over individual pricing. On top of everything, they are committed to outstanding customer service offering easy ordering, speedy delivery and no-hassle return policies.

 

Funcart recently raised $70K in its first round of funding from a group of HNIs. The startup plans to use the funding to expand its business and team, along with creating a robust marketing network for the website.

12802963_1229283853766989_5079872503888332768_n5. Freedom Smart Labs:
Delhi based Freedom Smart Labs aims at providing Internet of Things(IoT) solutions in retail through its WiFi-based product “Freedom.desi”.

Founded by Yogesh Huja, the company offers mall management software and assist features for customers who have the app and step into a mall. Individuals can search for wheelchairs, use the lost-and-found assistance, and more. The startup aims to help offline retailers target their customers better through its IoT solutions. Freedom.desi, uses wifi sensors to monitor customers in areas around retail outlets, record footfalls and generate more customer engagement for retailers. Currently, they are focused on IoT and M2M domain and have set up global partnerships with hardware suppliers.

With this product, the company is looking to give offline retailers an edge in the e-commerce world by reviving brick-and-mortar stores with the help of IoT. They claim to boost the sales of retail outlets by three times. The startup has made its solutions available in 21 malls in and around Delhi-NCR, with plans to roll out the product in Dubai and Turkey as well.

Recently  Freedom Smart Labs, has raised around $145K (INR 1 Cr.) funding from Kapil Goel, Managing Director of Retail chain DCS Group.

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