Mid-September opens the door for bigger funding deals
This week saw several later-stage big-ticket deals. Logistics startup Ecom Express raised $30 million and OYO Rooms added another $10 million to its expanding kitty. Others like Zilingo and Tonbo Imaging also raised Series B funding. E-commerce, a few fintech companies and two healthcare startups led the action. There were also a few undisclosed and smaller funding rounds this week.
The key deals this week were:
Ecom Express raises $30 million from existing investor Walburg Pincus
Walburg Pincus pumped in $30 million into logistics startup Ecom Express through its unit Eaglebay Investment. Founded in 2012, Ecom Express focusses on providing end-to-end logistics solutions to several e-commerce giants.
Zilingo raises $17 million Series B funding led by Sequoia and Burda Investments
Singapore-based fashion and lifestyle marketplace Zilingo raised $17 million, led by Sequoia Capital India and Burda Principal Investments. The company aims to use these funds to strengthen its reach in Southeast Asian markets, particularly Indonesia. This is Zilingo’s third round of funding. The company had raised $8 million last year, and $2 million in 2015. With the latest fund raising, Zilingo has raised a total of $27 million.
Tonbo Imaging raises $17 million Series B funding
Tonbo Imaging raised $17 million in Series B funding this week. The funding round was led by WRV Capital, Qualcomm Ventures, Edelweiss Private Equity and existing investor Artiman Ventures. With the latest funding round, the company will focus on establishing itself as a premier designer and manufacturer of advanced night vision imaging systems for defence, surveillance and transportation safety sectors.
Oyo raises $10 million from China Lodging Group
Hardly a week after it raised $250 million from SoftBank Vision Fund, hotel aggregator platform OYO Rooms has received another $10 million from Chinese hotel management firm China Lodging Group. This is a follow-on for the Series D funding round announced earlier this month.
GetMyParking raises $3 million Series A funding led by IAN Fund
Two-year-old smart parking IoT platform GetMyParking raised $3 million in Series A funding this week. The platform will use the funds to focus on product transformation and market penetration. IAN Fund, BEENEXT and Indian Angel Network participated in the funding round. Previously, the startup had raised $1.1 million as pre-Series A, and $376,000 as angel investment.
GlowRoad raises $2 million Series A funding led by Accel
Customer-to-customer reseller network GlowRoad raised $2 million Series A funding led by Accel Partners. The company will use the funds to scale up and enhance technology. The platform builds a network for women, primarily home makers, to resell products, using both online and offline modes.
Unacademy raises $11.5 million Series B funding led by Sequoia India
Online education platform Unacademy raised Series B funding of $11.5 million led by Sequoia India and SAIF Partners. Existing investors Nexus Venture Partners and Blume Ventures also participated in the round. This is the second round of funding raised by Unacademy this year. In January, it had raised $4.5 million led by Nexus Venture Partners and Blume Ventures.