Deal Street: Ola, Hero MotoCorp’s Pawan Munjal Back Scooter-Sharing Startup
Five Indian startup raised about Rs 280 crores in angel, seed or venture capital funding across sectors such as gaming, mobility, artificial intelligence, among others, last week.
Delhi-based startups led the funding pack.
Paytm, Alibaba’s AGTech Pumps $16 Million In Gamepind
One97 Communications Ltd., the parent of digital payments company Paytm, and Alibaba Group-owned gaming and entertainment firm AgTech Holdings infused about $16 million (Rs 106 crore) into their mobile gaming joint venture, Gamepind Entertainment Pvt. Ltd., the company said in a statement.
Gamepind, which is currently available within the Paytm app, said the investment will be used to launch a separate app within the next six months to increase its reach.
Launched in January, Gamepind offers a host of social and casual games with exclusive loyalty rewards to millions of users within the Paytm app. It's now aiming to expand its portfolio and add coupons and products as rewards to mobile shoppers and casual gamers.
While AGTech owns 45 percent in the gaming platform, One97 Communications holds about 55 percent stake.
Nexus, Others Fund Voice-Based Platform
A voice platform for call centers, Observe.ai, raised $8 million (about Rs 55 crore) in a fresh funding round led by venture capital firm Nexus Venture Partners.
US-based MGV, Liquid 2 Ventures, Hack VC and existing investors Emergent Ventures and Y Combinator also participated in the round, according to a statement.
Founded in 2017, the company provides a voice-based conversational platform that runs on artificial intelligence and assists call centre workers by automating a range of tasks. The platform listens to the call stream, understands context and generates suggestions for the agent, according to the company.
Ola, Hero MotoCorp Fund Scooter Rental Startup
Automated scooter sharing platform Vogo, raised fresh funding in a round led by cab hailing company ANI Technologies, parent firm of Ola, and Hero MotoCorp chairman, Pawan Munjal.
Stellaris Venture Partners and Matrix Partners India and other angel investors also participated in the round, the company said in a statement without disclosing the amount raised. The company has raised about $7 million, a person privy to the development told BloombergQuint without disclosing the amount.
The startup said the funds will be used to expand its operations in cities where it’s present, including Bengaluru and Hyderabad.
Founded in 2016 by Ayyadurai, the dockless scooter rental company targets daily commutes of three to six kilometers. The company’s app enables customers to locate and pick-up their bikes at one point and drop them off at a different point without the need for a docking station.
Gurugram-based restaurant table reservation startup EazyDiner raised $5.85 million (about Rs 41 crore) in fresh funding led by Denlow Investment Trust and early-stage investment firm Beenext, The Economic Times reported.
Chennai-based rural e-commerce startup Inthree raised $4 million (Rs 27 crore) in a funding round led by Ventureast, Orios Venture Partners and the IAN Fund. The startup said in a statement that it plans to use the funds to strengthen its technology infrastructure, enhance capabilities in last-mile technologies and deepen its penetration.
Bengaluru-based electric two-wheelers developer Ultraviolette Automotive raised $860,000 (about Rs 6 crore) in a fresh funding round led by TVS Motor Company, the company said.