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

INTERESTING STARTUPS

Mirai Tech (2016, Pune), Developer of drones and fuel cells. Founder is ex-KND Aviation and MKU. Local comparables are ideaForge (2007, Mumbai, $13M) and Asteria Aerospace (2010, Gurgaon, $4M). Global comparables are CyPhy Works (2008, Danvers, $32M) and SkySapience (2010,  Yokneam Illit).

INDIA INTERESTING NEWS

PinkBlue (2014, Bangalore), online retailer of dental supplies for healthcare institutions, raises over $776k in pre-Series A round of funding from Orios Venture Partners, with participation from Anupam Mittal, Sakate Khaitan and HNIs. Link

Eduvanz Financing (2016, Mumbai), platform to avail education loans, raises $500k in funding from Blinc Advisors. Link

LIC (1956, Mumbai), state-owned life insurance company, acquires additional 2% stake in Indiabulls Housing Finance (2005, Gurgaon), provider of personal loan for purchasing home,car, for an undisclosed amount. Link

Be U Salons (2016, Delhi), online booking platform for salons, launches India’s first subscription model. Link

Omnivore Partners, Bengaluru based venture capital firm, raises $46M in funding from Sidbi, RBL Bank, Sorenson Impact Foundation, The Rockefeller Foundation, Dutch Good Growth Fund, Ceniarth, and KfW. Link

GLOBAL ROUNDUP

Japan Taxi (1977, Tokyo), online cab aggregator, raises $69M in funding from Toyota . Link

Everipedia (2014, Los Angeles), crowd sourced online encyclopedia, raises $30M in Series A round of funding led by Galaxy Digital’s EOS.IO Ecosystem Fund. Link

Grove, personalized financial advice provider, raises $2.1M in Seed round of funding led by First Round with participation from Lowercase Capital, SV Angel, Box Group and others. Link

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