![Funding Galore: Startup Fundings Of The Week [26 December – 31 December]](http://briofinancial.com/wp-content/uploads/2016/12/funding-galore-startup-fundings-of-the-week-26-december-31-december.jpg)
On the last day of 2016, it is fitting that we once again present news of the fundings and acquisitions that have taken place over the last week.
Hyperlocal saw a pickup in the sector with delivery startup Shadowfax picking up $10 Mn in Series B funding. Existing investor Eight Roads Ventures, the investment arm of Fidelity International, participated in the round. The company plans to add over 10 cities in the next 12 months.
Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax is backed by investors like Kunal Bahl, Rohit Bansal, Zishaan Hayath (Powai Lake Ventures) & Prashant Malik (Limeroad) and Eight Roads Ventures.
The other big news of the week was speculation about US-based PayPal acquiring stake in mobile recharge platform FreeCharge. The deal was expected to see the sale of a 25% stake for a valuation of around $200 Mn. Although in a follow-up report, FreeCharge categorically denied the rumours and called them “baseless.”
This week 8 startups raised around $21 Mn in funding altogether. (Funding amount is based on startups that disclosed their funding)
Startup Fundings Of The Week
Dekkho: Video streaming platform, Dekkho, has raised $1.2 Mn Seed funding from seven angel investors. The startup’s long-term vision is to create a video streaming culture through adaptive transcoding and subsidised data tariffs with multiple telecom service providers over the next five years.
10i Commerce: Bengaluru-based ecommerce startup 10i Commerce Services has raised $5 Mn in funding from Infosys co-founder Nandan Nilekani. With this fresh investment, the former chairman of the UIDAI has so far invested about $10 Mn in 10i Commerce in several tranches. The startup is also launching an open payments network next week that aims at helping customers transact digitally across any platform.
Healthify Me: Health and fitness app HealthifyMe has secured $1 Mn (INR 6.7 Cr) funding led by Neelesh Bhatnagar, a Dubai-based investor from NB Ventures. The company plans to utilise the current round to hire top leadership and invest in product and tech innovation.
JustBooks: Sustainability consulting and VC firm CoCreate Ventures, that helps companies to pivot, has invested an undisclosed amount in an omnichannel book renting platform, JustBooks. JustBooks plans to deploy the raised funds towards revamping its digital presence, developing its technology for better customer management and loyalty programmes, and bringing more human resources to manage the brand and introduce new categories in books.
The Postbox: Chennai-based The Postbox has received an undisclosed amount of funding…