A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
Reio Bikes (2016, Chennai), Developer of electric bicycles. Founders are ex-Goodwin engineering and TVS. Local comparables are LightSpeed Bikes (2016, Ahmedabad, $147K) and Volta Motors (2015,Chennai, $100K). Global comparables are TSINOVA (2014, Beijing, $29.3M) and Faraday Bicycles (2012, SF, $3.96M).
INDIA INTERESTING NEWS
IMAX program (2009, Bangalore), personalized learning materials, educational tools and services provider, raises $13.5M in Series B round of funding from Michael & Susan Dell Foundation, LGT Impact Ventures and existing investor Aspada. Link
Ola (2011, Bangalore), app-based asset-light cab operator, invests $62M in it’s newly acquired food delivery arm FoodPanda India (2012, Delhi), online food ordering and delivery from restaurants. Link
ePaylater (2016, Mumbai), checkout platform offering pay later option to users, partners with FidyPay (2017, Indore), micro digital payment service provider, to provide float wallet recharge to merchants. Link
Instacart (2012, SF), marketplace for same-day grocery delivery, raises $200M in Series E round of funding led by Coatue Management with participation from Glade Brook Capital Partners and existing investors. Link
DataVisor (2013, Santa Clara), big data analytics based fraud detection, raises $40M in Series C round of funding led by Sequoia China, with participation from New Enterprise Associates and GSR Ventures. Link
Stash (2015, NYC), micro investment app, raises $37.5M in Series D round of funding led by Union Square Ventures, with participation from Breyer Capital, Coatue Management, Entree Capital, Goodwater Capital and Valar Ventures. Link
Outdoorsy (2014, SF), first fully insured peer-to-peer marketplace, raises $25M in Series B round of funding led by Aviva Ventures and Altos Ventures, with participation from Tandem Capital and Autotech Ventures. Link