(Source: BloombergQuint)

Deal Street: Doctor Consultation Startup DocsApp Raises $7.2 Million 

Indian startups raised around $72 million in angel, seed or venture capital funding across sectors such as healthcare, hyperlocal services, education, lending among others last week.

Bengaluru based startups led the funding pack once again.

Online Doctor Consultation Startup DocsApp Raises Series A Funding

(L-R) Satish Kannan and Enbasekar Dinadayalane, co-founders of DocsApp (Source: DocsApp)
(L-R) Satish Kannan and Enbasekar Dinadayalane, co-founders of DocsApp (Source: DocsApp)

Bengaluru-based doctor consultation app, DocsApp, raised $7.2 million in Series A round of funding from Bessemer Venture Partners, Japanese investors, TechMatrix Corporation and DeNa networks, Enbasekar Dinadayalane, co-founder of DocsApp told BloombergQuint in an interview.

Existing Facebook angel investors Anand Rajaraman, Venky Harinarayanan and Japanese VC Rebright partners also participated in this round.

The company will use the funds to scale up the team, strengthen its technology platform to help doctors in efficient consultations and disease diagnosis.

DocsApp which, which serves over 50,000 patients every month, aims to scale it up to over 3,00,000 patients in a month by next year. “The platform on-boards only specialist doctors who are then connected with patients under 30 minutes,” Vishal Gupta, Managing Director Bessemer Venture Partners India added.

The Bangalore-based startup helps patients chat, call or video consult with the doctors and charges a fee per consultation. It has more than 2,000 specialised doctors on the platform, according to information on its website.

Google Leads $12 Million Funding In Hyperlocal Services App Dunzo



An employee pushes shopping carts (Photographer: Dhiraj Singh/Bloomberg)
An employee pushes shopping carts (Photographer: Dhiraj Singh/Bloomberg)

Global search engine giant Google led a $12 million round in hyperlocal services app Dunzo, also making it its first direct investment in an Indian startup and seventh direct investment globally.

Existing investors such as Blume Ventures and Aspada also participated in the round, documents filed with Registrar of Companies showed. While google pumped in Rs 64.58 crore as part of Series B funding, Aspada infused Rs 12.5 crore and Blume Ventures put in Rs 3.75 crore into the company, the documents revealed.

The Bengaluru-based startup allows users to order just about anything from its app – food from the restaurant, ordering medicine or grocery or providing home pick and drop services with the help of chat-based task management platform. Once the user creates errands on the app, the platform charges a delivery fee on it.

Yahoo Co-Founder Backs Expense Management Platform Happay

Happay, an expense management platform for enterprises, raised $10 million (Rs 65.13 crore) in a Series B funding round led by existing investor Sequoia Capital.

While Sequoia put in nearly Rs 38.5 crore ($5.98 million), Singapore-based private equity fund Axiom Capital invested Rs 25.74 crore ($4 million). AME Cloud Ventures, the venture fund led by Yahoo co-Founder Jerry Yang, among others, also participated in the round, as per the filings with the Ministry of Corporate Affairs.

Bangalore-based Happay had last raised $7.2 million in July 2015 from Sequoia Capital and Prime Venture Partners.

Facebook Co-Founder Eduardo Saverin Backs Mswipe

A vendor holds an Mswipe terminal, operated by M-Swipe Technologies Pvt Ltd., in an arranged photograph at a roadside stall in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)
A vendor holds an Mswipe terminal, operated by M-Swipe Technologies Pvt Ltd., in an arranged photograph at a roadside stall in Bengaluru, India. (Photographer: Dhiraj Singh/Bloomberg)

Mobile point-of-sale services provider Mswipe topped up its Series D round of funding with $10 million (Rs 65 crore) from B Capital Group, the venture capital firm started by Facebook co-Founder Eduardo Saverin.

Existing investor DSG Consumer Partners also participated in this round, Mswipe said in a statement. The fresh infusion takes the total Series D funding to more than $40 million (around Rs 258 crore), it added. Mswipe had last raised $31 million in June.

Mswipe has a network of 280,000 terminals spread over 650 cities and towns.

Others

Chennai-based education technology startup Flintobox raised $7 million (Rs 45.1 crore) in Series A funding led by early-stage venture capital firm Lightbox. Existing investors Globevestor, Ashwin Chadha, Asian E-Commerce Alliance and Mauj Mobile also participated in this round, the company said.

Mumbai-based digital lending platform for small and medium enterprises FlexiLoans raised debt funding of about $7 million (Rs 45 crore) from multiple financial institutions, the company said in a statement.

Noida-based content discovery app Inshorts has raised $5 million funding from Tiger Global Management’s Singapore investment vehicle, Internet Fund III Pte Holdings. The investment, as per the company’s filings, was made in Inshorts’ Singapore-registered holding company in September 2017

Graphic India, a digital comic heroes developer raised $5 million (around Rs 32 crore) in a round led by U.S.-based Liquid Comics along with other investors including, Start Media LLC; Julian Farrior, co-founder of Backflip Studios; Mohandas Pai’s 3One4 Capital, Neeraj Bhargava, founder of Zodius Capital among others, a press statement said.

MilkLane, a dairy supply chain company, raised $4 million (Rs 27 crore) in Pre-Series A funding from Pioneering Ventures, Schreiber Foods and ultra-high net-worth families, the company said in a statement. The capital will be used to expand the network of milk collection centres and strengthen capabilities in the supply chain.

Rentickle.com, an online platform that allows users to rent home appliances and furniture on a monthly subscription model, raised around $4 million (Rs 25 crore) in a fresh round of funding, company said in a statement. While Ajay Relan, founder and chairman, CX Partners and ThinKuvate, a Singapore-based venture capital firm, anf other existing investors participated in the equity round, DMI Finance Pvt. Ltd, a Delhi-based non-banking financial company, provided the debt capital.

Goa-based corporate training platform HandyTrain, raised $1 million in a Pre-Series A funding round led by Dubai-based NB Ventures, as per a press statement.

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