India Funding Roundup: A Bike Taxi Startup, File Sharing App, and More
Our latest funding roundup compiles investments in Indian startups engaged in e-commerce, fashion discovery, on-demand transportation, B2B and B2C e-commerce startups.
Bengaluru-based Ninjacart, a B2B startup connects farmers and brands to retailers, has raised $3 million (around Rs. 20 crores) in Series A funding round led by Accel Partners, Qualcomm Ventures, M&S Partners, and Zop Smart. Founded in 2015, Ninjacart helps producers to sell directly to retail stores by providing a selling platform and assisting in warehousing and order fulfilment.
Social fashion discovery platform Wooplr has reportedly received an undisclosed amount of funding from InMobi and TaxiForSure founders. Founded in March 2013, the startup reportedly has two million women users in India, and sees 20,000 transactions a month.
Gurgaon-based Reach has reportedly raised $500,000 (roughly Rs. 3.36 crores) in early stage funding led by Japanese VC firm Rebright Partners. The startup was a part of the Google Launchpad program, and has built a peer to peer technology platform that enables users to access music, games and apps that a friend or neighbouring person has on his handset. Its app for Android has over 50,000 downloads, and a 4.3 star rating on Google Play.
HDFC Bank has reportedly extended a line of credit of over Rs. 450 crores to Flipkart, according to registrar of companies filings intercepted by ET. The report further states that Flipkart is seeking investors for a new funding round to the tune of around $1 billion (roughly Rs. 6,713 crores).
Noida-based Now Bike Taxis has reportedly secured $500,000 (roughly Rs. 3.36 crores) in angel funding. The startup provides delivery of courier, food parcels, medicines, and groceries, apart from bike rides. The company says that its riders are background-checked and trained, and prices rides at Rs. 4 per kilometre, with a per-minute charge of Rs. 1, and a Rs. 10 booking charge. Minimum ride charges are Rs. 20.