Funding roundup - Rakesh Jhunjhunwala places his first tech bet on gaming ; Aamir Khan backs Furlenco
While the spotlight last week was on Google’s first India investment in Bengaluru-based concierge app Dunzo, investor Rakesh Jhunjhunwala took centrestage this week. He invested $28 million in gaming company Nazara Technologies, which is believed to be working towards an IPO next year.
Actor Aamir Khan, meanwhile, invested in online furniture rental startup Furlenco. This week seemed as eventful as the last in terms of fund-raising.
The key fund raises made this week include:
Aamir Khan invests in Furlenco
Several media reports suggest online furniture rental startup Furlenco raised $1.2 million debt funding from Aamir Khan, and four other HNIs. Reports suggest the four HNIs and Aamir Khan were given non-convertible debentures for their investment in the company.
Teabox raises $7 million Series B funding
Siliguri-based Teabox raised $7 million in Series B funding from Singapore-based investment firm RB investments. DBS Bank, Southeast Asia’s largest banking and financial services company, also participated in this round through venture debt.
The funding will help Teabox expand its backend infrastructure, including cold chain processing centres, to ensure freshness of tea. The fund-raise will also help in growth in key markets.
Clip raises Series A funding led by Matrix Partners
Bengaluru-based local language video platform Clip raised $6 million Series A funding led by Matrix Partners. Existing investors India Quotient and Shunwei Capital also participated in this round.
In a press statement, Co-founder Nav Agarwal said: “We are building a community around like-minded people by enabling them to create and consume short-form video content. We are targeting the 90 percent of Indians that are untapped, those who have recently got smartphones and low-cost internet connections.”
Rakesh Jhunjhunwala invests $28 million in Nazara Technologies
Veteran investor Rakesh Jhunjhunwala, considered to be India’s richest and biggest investor, invested Rs 180 crore and gained a minority stake in Mumbai-based mobile gaming company Nazara Technologies. The company had raised $51 million from IIFL Asset Management earlier this month.
In India, Nazara has licensed mobile gaming rights to popular IPs like Virat Kohli, Hrithik Roshan, Chhota Bheem, Royal Challengers Bangalore, Motu Patlu, Mighty Raju, Tinkle characters and Chacha Choudhary.
DocsApp raises $7.2 million in Series A funding
Online doctor consultation startup DocsApp said it has raised $7.2 million as a part of its Series A round of funding from Bessemer Venture Partners (BVP), Japanese investors Techmatrix Corporation and DeNa networks.
Existing angel investors Anand Rajaraman, Venky Harinarayanan, and Japanese VC Rebright Partners also participated in this round. The fresh round of funding will be used to further develop the startup’s technology, expand its scale of operations, and recruit new talent.
MindTickle raises $27 million in Series B funding
Sales-readiness platform MindTickle raised $27 million in Series B funding led by Canaan Partners with participation from existing investors Accel Partners, New Enterprise Associates (NEA), and Qualcomm Ventures. The six-year-old company plans to use this fund for product innovation and global expansion.
Finbucket raises $1.8 million funding
Online loans marketplace Finbucket raised $1.8 million funding from Impanix Capital. A statement by Finbucket suggests that the startup plans to use the funds to increase its staff strength to 200 and expand operations. The statement also said the funds will help in building stronger technology, customer acquisition, and to expand across different geographies.
Veritas Finance raises $18.6 million in Series B funding
Veritas Finance Private Limited, a Chennai-based financial services firm that lends to micro and small enterprises, announced that it had raised Series B funding of Rs 120 crore from Lok Capital and CDC Group.
CDC Group invested Rs 65 crore while existing investors Surendra Pai and his wife also participated in the round. This fresh round of funding will bolster product innovation, expansion to newer states like Andhra Pradesh and Telangana, and deepen Veritas’ presence in existing states and union territories.
Cash Suvidha raises $2.7 million debt funding
Cash Suvidha has raised debt funding of $2.7 million. The company extends business loans to SMEs, MSMEs, and women entrepreneurs and personal loans to individuals. According to a press statement by the company, Rajesh Gupta, Founder, Cash Suvidha said, the working capital infusion will provide propulsion for further accelerating the company’s exciting growth plans. The funds so raised will be used to replenish the loan book and widen reach across the country, he said.