Funding roundup—travel-tech startup Goomo tops 11 that raised funds this week

11th Jun 2017
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Of the 11 startups that raised funds last week, omnichannel travel-tech startup Goomo topped the list with $50 million. Others managed to scoop up money in the range of $650,000 to $1.2 million. Although health-tech and fintech sectors dominated in terms of number of deals, they fell behind other sectors in terms of the size of deals.

A quick look at the deals for the week ended 9 June:

Goomo raises $50mn from Emerging India fund

Omnichannel travel-tech startup Goomo raised $50 million from a Mauritius-based fund manager, Emerging India ($1.5 billion under management). The funds will be used to build Goomo’s online platform, products, marketing, and establishing its offline partner network.

Founded in March 2017 by Varun Gupta, Goomo has launched its services with bookings for flights and holidays, and trade fairs and will soon be expanding it to include hotels, trains, buses and visas online.

mnMultiplier Solutions, ABI Health raise $1.5mn each from NVP

Healthtech startup Multiplier Solutions has raised $1.5 million from Norwest Venture Partners. As reported by The Economic Times, Norwest Venture Partners also invested $1.5 million in ABI Health with the aim to merge both healthcare startups.

Founded by Saumya Prakash and Vikram Kumar, Multiplier Solutions helps leading hospital networks to make sense of big data, gives marketers and physician relationship teams actionable insights to drive volume and engagement. ABI Health, (AB Innovative Software), being a business and technology solutions provider, offers services to small and medium businesses and independent software vendors (ISVs).

BHIVE Workspace raises $1mn funding

BHIVE Workspace, a co-working space, has raised $1 million in funding led by Blume Ventures. With this funding, BHIVE plans to expand its base in Bengaluru and establish a presence in other cities as well.

The money will also be used to attract top talent and build technology to further enhance customer experience in this segment. Launched in November 2014, BHIVE provides a fully equipped workspace with 24×7 access. It claims to cater to over 150-plus ventures in Bengaluru.

Spinny raises $1mn in pre-series A

Spinny, a go-to platform for buying and selling used cars, has raised $1 million in pre-series A funding from Indian Angel Network, Blume Venture and from the co-founders of FreeCharge, Sandeep Tandon and Kunal Shah. The funds will be used to strengthen its technology platform and expand its hubs.

The startup, which is betting on the concept of buying and selling cars, was founded by Mohit Gupta, Ramanshu Mahaur, Niraj Singh, and Ganesh Pawar.

wayForward raises $1mn in angel round

Mental and emotional healthcare platform wayForward has raised $1 million in an angel round from a group of investors including Sreepathy Viswanathan, Farhan Naqvi, and Harsh Mahajan, as reported by VCCircle. This New York-based startup will use the fund to build its technology and the US sales team.

Last year, the company partnered with Fortis Healthcare to help people solve problems caused by stress, anxiety, and other emotional or mental health issues while sitting at home.

ZipLoan raises $650,000 in pre-Series A round

Owned by Blue Jay Finlease, online lending platform ZipLoan has raised $650,000 (around Rs 4.2 crore) in a pre-Series A funding round led by WaterBridge Ventures, as reported by VCCircle. The round has also seen the participation of Whiteboard Capital and existing investor GrowX Ventures.

The funds will be used to further develop the company’s credit scoring capabilities, enhance automation in sourcing/lending/monitoring processes, and expand to new cities and strengthen the team.

An NBFC registered with the RBI, ZipLoan was founded by Shalabh Singhal and Kshitij Puri. With this online lending platform, one can get a loan through a simple three-step process—you fill the loan application, review the loan offers, and get funds within three days.

Growfitter raises $600,000 in pre-Series-A round

Machine learning fitness discovery and booking platform Growfitter.com has secured $600,000 in pre-Series A funding from the capital firm, SQue Capital. The startup has said it will utilise the funds to enhance its technology infrastructure and expand in India.

The startup builds comprehensive technology for the fitness industry with more than 8,000 listed fitness centres across Mumbai, Pune, Bangalore, Delhi, NCR, Chennai, Calcutta, Hyderabad, Gurgaon, Goa, and Nashik. It has an exclusive partnership with the big fitness franchise, Pan India.

Healthbuds raises an undisclosed amount

Backed by the accelerator Neoleap Business Ventures LLP, Healthbuds raised an undisclosed amount from angel investors Arun Patodia and Bharat Kedia. The funding will be used to upgrade technology, make the platform more robust, and implement digital marketing strategies.

The healthcare startup offers services like video consultation with a doctor, comparing prices offered by various hospitals, and booking a planned surgery.

MaxMyWealth raises money from UK-based investors

Owned by Heathwalk Advisors, MaxMyWealth has raised an undisclosed amount from UK-based investors including Global Advisors (Jersey), an alternative asset management firm.

Founded by Vinay Kumar Singh Chauhan and Ankur Singh Chauhan, MaxMyWealth claims to ensure best saving, investing, and banking outcomes for people at the lowest possible cost through its customer user interface.

ftcash raises an undisclosed amount of fund

Fintech startup ftcash has raised an undisclosed amount in a pre-Series A round from venture capital firms IvyCap Ventures and 500 Startups. It will utilise the capital to develop products in the payment and loan categories, scale up annual transactions to Rs 1,500 crore and disburse loans to merchants upwards of Rs 150 crore.

Besides, ftcash will use the funds to drive its expansion plans and scale up operations in Mumbai, Surat, Jaipur, and Pune.

Founded by Sanjeev Chandak, ftcash creates an open architecture-based platform for merchants to initiate digital payments with payment modes like credit/debit cards, net banking, various mobile wallets, UPI, and PayPal. It primarily serves micro-merchants, MSMEs, home-based entrepreneurs, mom-and-pop stores, and large corporates with a merchant base.

Apart from the above-mentioned deals, one more deal caught attention. US-based online platform for higher education Coursera raised $64 million in a series-D funding round taking its total fundraising to $210.3 million so far. This firm has acquired more than 26 million learners and claims India as its second largest market in terms of registered learners.

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