A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
Clearfunds (2016, Mumbai), platform to invest in direct mutual fund plans. Founders are ex-Jefferies, Reliance Equities International,Macquarie Group and Credit Suisse.Local comparables are Coin (2010, Bangalore) and Invezta (2015, Mumbai). Global comparables are Aspiration (2013, Los Angeles, 67M) and Swanest (2014, London, 814k).
INDIA INTERESTING NEWS
Samunnati (2014, Chennai), provider of a range of innovative financial products & services, raises $23.1M in Series C round of funding led by responsAbility Investments AG, with participation from existing investors Accel Partners and Elevar Equity. Link
Orb Energy (2006, Bangalore), installer of water heaters and solar products, raises $14.6M in Series B round of funding from FMO, Overseas Private Investment Corporation, African finance institution Pamiga and Germany’s development finance institution DEG. Link
Satvacart (2014, Gurgaon), online grocery store, raises an undisclosed amount in pre-Series A round of funding from Keshu Dubey, the founder of startup database platform Xeler8, and Shishir Kumar, a former top executive at security solutions firm Symantec India. Link
DTT (1999, Los Angeles), video-based surveillance & loss prevention service provider for hospitality and retail industries, raises $80M in Debt round of funding led by Administrative Agent, Capital One and CapitalSource. Link
Alkami (2007, Plano), online & mobile banking solutions provider, raises $70M in Series D round of funding led by General Atlantic, with participation from MissionOG, S3 Ventures and Argonaut Private Equity. Link
Red Points (2011, Barcelona), brand protection and anti piracy solution provider, raises $12M in Series B round of funding led by Northzone with participation from previous investors Mangrove and Sabadell Venture Capital. Link
Sonoma Brands, Sonoma-based growth equity firm, closes its second fund, at $60M. Link