Our latest funding roundup compiles investments in Indian startups engaged in digital payments, fashion discovery, railway information aggregation, tax filing, grocery and pharmaceutical delivery.
Delhi-based income tax returns e-filing website ClearTax, announced Tuesday that it has raised a seed round of $1.3 million (roughly Rs. 8.6 crore) from PayPal Co-Founder Max Levchin, Scott and Cyan Banister, WhatsApp's Business Head Neeraj Arora, AngelList Founder and CEO Naval Ravikant, Dropbox VP Ruchi Sanghvi, Y Combinator alumni Sumon Sadhu, and Flexport's Founder and CEO Ryan Petersen. The Y-combinator incubated startup was founded in 2011 by Archit Gupta along with his father Raja Ram Gupta, Srivatsan Chari and Ankit Solanki, and has been used by one million users for the assessment year 2015-16.
Noida-based rail travel information service RailYatri has raised an undisclosed amount of funding from Nandan Nilekani, Co-Founder Infosys and former Chairman of UIDAI. The website claims to have served over 20 million users, and can be used to book services like onboard meals, taxi and bus tickets, and budget rooms.
Mumbai-based TranServ, a digital payments company has secured an investment of $15 million (roughly Rs. 9.96 crores) in its Series C funding round, led by IDFC SPICE Fund, Micromax Informatics, and existing investors Nirvana and Faering Capital India Evolving Fund. The company plans to use the funds to invest in new product lines like micro credit, and plans to grow at between 300 to 500 percent per annum this fiscal year.
Milkbasket, a subscription based delivery services for daily needs has bagged $500,000 (roughly Rs. 3.3 crores) in pre-series A funding led by EVC Ventures, and other angel investors. The startup provides a selection of 2,500 products on a subscription model, and is currently operational in Gurgaon on a prepaid model.
Medicine buying platform CareOnGo has raised an undisclosed amount in Pre series A round of funding led by Farooq Oomerbhoy of FAO Ventures and a consortium of investors, which includes Anupam Mittal and Anand Mittal of People Group, Ravi Garikipati, Head of Flipkart's ads business, Vibhu Garg, Co-Founder of Unicommerce, Singapore Angel Network and Konglo Ventures among others.The startup had secured a seed round in Feburary 2016, and reportedly plans to expand its network co-branded stores in India's metros and 11 other cities.
Gurgaon-based Roposo, a fashion discovery platform, has reportedly raised $5 million (roughly Rs. 33.2 crores) from Bertelsmann India Investments in its Series B round. Founded in 2014, the startup claims to have listed six million products and two million downloads on its apps, available on Android and iOS.