India Funding Roundup: A Baby Care Portal, Home Rental Aggregator, and More
Our latest funding roundup compiles investments in Indian startups engaged in thematic investments, mom and baby care, real estate, vocational training, and marketing tech.
Bengaluru-based thematic stock market investments platform Tauro Wealth has reportedly raised an undisclosed amount in seed funding from TracxnLabs and a few angel investors. Incorporated in 2015 and currently in preview mode, the startup plans to allocate the current funding round towards building a Web platform, and for hiring developers. The firm is now looking for pre-Series A funding to roll out the live product, and manage the operations involved in providing online transactions and customer support.
Facebook co-founder Eduardo Saverin has invested $13 million (roughly Rs. 90 crores) in Hopscotch.in, which operates on a flash sales model for mom and baby care products. The Mumbai-based startup has reportedly seen growth of over 700 percent year on year, and expects to break even by the end of 2016.
Tata Sons chairman emeritus Ratan Tata has invested an undisclosed amount in home rental companyNestAway, his eighth personal investment in a startup in 2016 so far. NestAway turns unbranded, unfurnished houses into fully furnished and managed apartments and provides them at affordable prices to verified tenants, said the statement by IDG Ventures India, which is an investor in the company. Until recently, NestAway counted working professionals who are single among its target audience, but now it has also forayed into the family segment. So far, the startup has provided rental homes to about 5,000 tenants across six cities.
Mumbai-based EduBridge, which provides a vocational training services for low-income youth in semi-urban and rural areas has reportedly secured $2.5 million (roughly Rs. 17.1 crores) in VC funding. The company claims to have trained over 50,000 youth so far, and plans to use the funding to expand its operations to Gujarat, Odisha, Jharkhand and Bihar.
Freedom Smart Labs
Delhi-based in-store marketing technology startup Freedom Smart Labs has reportedly raised Rs. 1 crores in funding from DCS Group. The startup provides IoT solutions for malls and shopping arcades to target customers with integrated promotions and proximity based offers.