A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.

INTERESTING STARTUPS

Mike Legal (2016, Delhi), AI-based legal research assistant for lawyers. Founders are ex-Fabence, 4thpointer Services. Local comparables are Mobley Technologies (2015, Pune) and Crux IQ (2016, Chennai). Global comparables are Casetext (2013, Palo Alto, $20.8M) and Ravel (2012, Palo Alto, $9.2M).

INDIA INTERESTING NEWS

Ola (2011, Bangalore), app-based asset-light cab operator, raises $1.1B in Series I round of funding from Tencent and Softbank. Link

EazyDiner (2014, Delhi), online platform for food discovery, ordering, and table booking at restaurants, raises $4.5M in funding led by its existing backers Deepak Shahdadpuri-led DSG Consumer Partners and Saama Capital. Link

Parallel Dots (2014, Noida), AI-enabled text analysis API provider, raises $1.4M in funding from Multipoint Capital. Link

BigBasket (2011, Bangalore), online retail store for grocery shopping, raises $839K in funding from Trifecta Venture Debt Fund. Link

One Step Up (2009, Delhi), web based application for career guidance services to students, raises $336k in funding from Orient BlackSwan. Link

Paynear (2013, Hyderabad), mPOS solutions provider, acquires GoSwiff (2010, Singapore), mobile payment platform provider, for an undisclosed amount. Link

Houzz India(2009, Palo Alto), content-driven discovery and commerce portal catering to home Improvement, partners with Times Bridge to help homeowners across country discover the platform. Link

Commut (2015, Hyderabad), mini-bus aggregator app, partners with Green Mile (2005, Orlando), delivery management solutions provider, to run e-taxis in Hyderabad. Link

GLOBAL ROUNDUP

Mapbox (2010, Washington D.C.), tools provider for building custom maps, raises $164M in Series C round of funding led by the SoftBank Vision Fund, with participation from existing investors including Foundry Group, DFJ Growth, DBL Partners, and Thrive Capital. Link

Bill.com (2006, Palo Alto), cloud-based payables and receivables payments solutions provider, raises $100M in Series G round of funding led by JPMorgan Chase and Temasek, with participation from August Capital, Scale Ventures, Napier Park, DCM, Icon Ventures, Emergence Capital, Silicon Valley Bank and American Express. Link

Petuum (2016, Pittsburg), distributed machine learning framework, raises $93M in Series B round of funding Β led by a subsidiary of SoftBank Group Corp. with participation from previous investor Advantech Capital. Link

Andela (2014, NYC), training and employment solutions provider, raises $40M in Series C round of funding led by pan-African venture firm CRE Venture Capital with participation from DBL Partners, Amplo, Salesforce Ventures, and Africa-focused TLcom Capital and existing investors Chan Zuckerberg Initiative, GV, and Spark Capital. Link

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