![Funding Galore: Indian Startup Fundings Of The Week [24 April – 29 April]](http://briofinancial.com/wp-content/uploads/2017/04/funding-galore-indian-startup-fundings-of-the-week-24-april-29-april.jpg)
Softbank Global gave its final nod to the Flipkart and Snapdeal merger via an in-principle, non-binding approval for the deal. It will hold 20% stake in the merged entity and has also approved a plan to buy out Snapdeal’s existing investors ahead of the potential merger. Also, it now has OYO Rooms, Paytm and FreeCharge on its radar. Reportedly, Softbank is in talks with OYO Rooms to invest additional $250 Mn into the budget accommodation startup, at a valuation of around $850 Mn.
Furthermore, Snapdeal owned digital payment company FreeCharge (backed by Softbank) is looking for a potential merger with nemesis Mobikwik. The newly combined entity is likely to receive an investment of around $200 Mn from a Chinese investor at a valuation of $700 Mn-$1 Bn.
Also, Softbank is likely to back Paytm with a $1.9 Bn investment at a valuation of $9 Bn, making it one of the biggest deals to take place in the Indian consumer Internet space.
Next up, TVS Logistics and Kishore Biyani’s Future Supply Chain Solutions have placed their bids for Vulcan Express, the logistics unit of beleaguered ecommerce firm Snapdeal. Reportedly, both the firms are in talks with Snapdeal parent company Jasper Infotech, to acquire or pick up a majority stake in Vulcan Express.
This week 22 startups raised about $68 Mn in funding altogether.
Startup Fundings Of The Week
StalkBuyLove: New Delhi-based online fashion brand StalkBuyLove raised $1 Mn venture debt from Trifecta Capital. The startup will use the recently raised funding to strengthen its supply chain technology and expand the team. The brand claims to have sold 65,000 garments in April 2017.
Flytxt: Customer data analytics software company Flytxt raised about $11 Mn (INR 70 Cr) funding from DAH Beteiligungs GmbH, a company related to the Hopp family office. The company plans to invest the newly raised capital for software product R&D and to expand to other verticals.
Myra: Bengaluru-based online pharmacy startup Myra raised an undisclosed amount in extended Series A round of funding from Times Internet and existing investor Matrix Partners. With the newly raised funds, the company is planning to extend its footprint to two more metro cities.
Oddup: Hong Kong-based startup focussed research platform Oddup secured $6 Mn in its Series A round of funding. The investment was led by Brand Capital, 500 Startups, Click Ventures, Moneta Ventures, and White Capital. With the freshly infused funds, the startup aims to expand into India and complete its expansion throughout Asia.
Awfis: Collaborative coworking space provider Awfis raised $20 Mn from Sequoia India. The startup plans to use the funds to grow its network of centers, launch new products/services, and further enhance the existing technology platform.
NIRAMAI: Bengaluru-based AI startup NIRAMAI Health Analytix raised an undisclosed amount of funding in a Seed round led by pi Ventures. Ankur Capital, Axilor Ventures, 500 Startups, and Flipkart co-founder Binny Bansal also participated in this round. This investment will help the NIRAMAI team to strengthen the IP portfolio, expand operations, and ensure their cancer screening tool is readily available for commercial use.
Faasos: Pune-based online food delivery startup Faasos raised $6.4 Mn funding in an extended Series C round. The investment was led by Lightbox Ventures II, Lightbox Expansion Fund, Sequoia Capital India, RuNet South Asia, and RB Investments. So far, the company has raised a total of $64.6 Mn in…