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Funding roundup: Portea grabs eyeballs with Series C funding

Sindhu Kashyaap
24th Nov 2017
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This week, 10 startups raised funding according to YourStory research data. Of these, four raised undisclosed amounts.

Among those that raised funds, Mumbai-based lending startup CreditMate garnered attention thanks to its investor, Paytm. Online hotel booking startup MiStay raised seed funding from incubator Axilor Ventures, and a clutch of angel investors.

Mr Button, a Jaipur-based menswear brand, raised undisclosed Series A funding led by Sandeep Daga, Founder, Nine Rivers Capital, while TAO Automation raised undisclosed funding from 3one4 Capital and Arihant Patni of Patni Computers.


Cloud services startup Nuvepro raised $400,000 through crowdsourcing platform 1Crowd, and bike-sharing platform Rapido raised $329,000 in funding led by Thompson Taraz managers. Instinct Innovations, which offers RedBook, a software solution for retail pharma businesses, raised $250,000 funding.

The key fund raises this week included:

CreditMate raises Pre-Series A funding led by Paytm

Paytm acquired a majority stake in CreditMate, a Mumbai-based startup in the lending space that focuses on enabling its dealer partners to distribute two-wheeler loans to customers with no formal credit history. As part of the investment Paytm will leverage CreditMate’s proprietary credit and asset valuation technology to create a loan management system in collaboration with its lending partner for its customers.

Portea Medical raises $26 million in Series C funding

Bengaluru-based home healthcare startup Portea raised Series C funding of $26 million led by Sabre Partners and MEMG CDC Ventures. Existing investors Qualcomm Ventures and International Finance Corporation also participated in this round. The funds will be used to add more depth to Portea’s existing services.

Heckyl raises $2.7 million funding

Big data analytics platform Heckyl, which has operations in London and Mumbai, raised funding of $2.7 million from UK based Notion Capital. Media reports suggest the company raised the funds by allocating 14,343 Series C preferential shares at a subscription price of Rs 12,302 a piece, including a premium of Rs 12,292.

Playment raises $1.6 million pre-series A funding

Playment, the mobile crowdsourcing platform, raised $1.6 million Pre-Series A funding this week. The round was led by SAIF Partners. The funds raised will be used to open a new office in the Bay Area, and build an internal Artificial Intelligence Research Lab.

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