Startup funding last week peaked to its highest seven-day tally for the month, with Mumbai-based ventures bagging a bigger chunk of the capital.
Six companies raised nearly Rs 1,100 crore in angel, seed and venture capital funding, across areas like financial technology, retail and digital lending. That compares with nearly Rs 30 crore raised the week before by five startups.
Just Buy Live, an e-distributor from Mumbai that connects shopkeepers with consumer brands, raised $100 million in early-stage funding from Dubai-based investment banking firm Ali Cloud Investment, the company said in a statement.
The proceeds will be used for expansion in international markets with high density of small enterprises and fragmented distribution, and also to consolidate and grow Indian operations, the statement added.
Launched in March 2015, Just Buy Live follows a brand-to-retail business model wherein retailers buy goods directly from brands. It has aggregated names like PepsiCo, Amul, Apple, Xiaomi, Samsung, Micromax, YU Mobiles, Oppo, Patanjali, ITC, P&G, Unilever, Coca-Cola and Nestlé on a single platform.
Its mobile application is used by small retailers and kiranas to supermarkets, chemists, mobile stores and electronic shops. As of September 2016, the app hosted over 5 lakh products from 2,600 brands across categories such as food, personal care, auto, mobile, tech, home and stationery.
Digital lending firm Capital Float raised $45 million to scale up operations in a round led by Palo Alto-based fintech investor Ribbit Capital, taking its total equity investment in the Bengaluru-based company to $87 million (Rs 555 crore).
Existing investors SAIF Partners, Sequoia India and Creation Investments also participated in the…