Rise of the ixigo mafia; CureFit, Chumbak raise funds
Flipkart has one, so do InMobi, Zoho and redBus - a mafia. And looks like ixigo does too. In fact, the Gurugram-based online travel platform claims that one out of every 10 of its employees has gone to become an entrepreneur. We take a look at 10 of the prominent startups that are part of the ixigo mafia.
CureFit raises $75M in Series D round from Accel, Kalaari
Bengaluru-based CureFit announced it had raised $75 million in its Series D funding round. Existing investors Accel, Kalaari Capital and IDG Ventures India participated in the funding round, with new investors Anand Piramal Trust and Pratithi Investment Trust. This is the first tranche of the health and fitness startup's Series D round. With this, CureFit's valuation is said to be over $500 million.
Inside the small but visionary startup ecosystem of Bahrain
The smallest country in the Gulf region, Bahrain has ambitious plans to build a vibrant startup ecosystem. The country is keen to incubate a large number of startups, turning into a gateway for the entire Middle East. In a conversation, the Bahrain Economic Development Board’s (EDB) Chief Executive Khalid Al Rumaihi tells us how its liberal policies and stronger connect with India will put the country on an upward trajectory.
Chumbak raises Rs 70 crore in Series D
Lifestyle brand Chumbak raised Rs 70 crore as a part of its Series D round, led by private equity fund Gaja Capital. In a statement to YourStory, the Bengaluru-based company said the round was predominantly led by Gaja Capital, with participation from venture capital funds Matrix Partners and Seedfund. The new funds will be used to open more stores and expand Chumbak’s presence beyond metros.
Lighthouse announces the closing of its third private equity fund
The Lighthouse India Fund III is worth $250 million (Rs 1,750 crore), and the company said that including predecessor funds, it now advises and manages cumulative assets of nearly half a billion dollars. Fund III will make investments of Rs 50-300 crore in high-growth opportunities, and it has already been used to invest in Tynor, Aqualite, Duroflex, and Nykaa.
UiPath India to train 5 lakh students on robotic process automation
Fresh from its latest round of $568 million funding, robotic process automation (RPA) and AI company UiPath unveiled an ambitious goal of training over five lakh students in India in RPA over the next three years. Raghu Subramanian, President and CEO – India, UiPath said that India has a deep potential given the number of graduates passing out across various technical streams.