India Funding Roundup: PepperTap, Paytm, Inmobi, LoanCircle, Hugefly

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India Funding Roundup: PepperTap, Paytm, Inmobi, LoanCircle, Hugefly

Gurgaon-based hyperlocal grocery delivery service PepperTap announced Tuesday that it closed a Series B funding round of $36 million (roughly Rs. 237 crores). The latest funding round was led by Snapdeal, existing investors Sequoia India and SAIF Partners, with participation from new investors like Ru-net, JAFCO, and BeeNext, the company said.

Chinese e-commerce giant Alibaba Group Holding Ltd and finance arm Ant Financial Services Group are injecting fresh capital into Paytm, India's largest mobile payment and commerce platform, in what the companies say is a "strategic" investment.

Mobile ad tech company, InMobi has reportedly raised $100 million (roughly Rs. 657 crores) in new debt from a group of lenders by US-based Tennenbaum Capital Partners. InMobi has reportedly used $40 million of this funding round to clear debt raised last year from Hercules Technology Growth Capital (HTGC).

Consumer lending marketplace has raised an undisclosed amount in angel funding from co-founder Zishaan Hayath, Trifecta Capital MD Rahul Khanna, and other investors, VCCircle reported. The Bengaluru-based startup was founded in 2015 by Tanuj Mendiratta, Anubhav Jain, and Abhishek Arora, and claims to use over 1,000 data points, while evaluating a loan application.

Pune-based machine learning startup, Hugefly, which provides online search services to e-commerce firms, has raised an undisclosed amount of angel funding from Mayank Singhal, Director at Temasek Holdings' and others.

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