Business Updater Funding updates

Funding News- 15 August’20

Online lending platform Zip loan raised $2 million funding

The online lending platform ZipLoan raised funding of $2million (around 15 crores) in a debt funding from Strides ventures.

Ishpreet Gandhi, managing partners of Strides Ventures said that the reason behind the investment is that Zip loan has exhibited tremendous growth without compromising the quality of the loan book which attracted them towards it.

Zip loan was launched in 2015 by Kshitij Puri and Shalabh Singhal. It provides loans from 1 to 5 lakh for 6-24 months period to micro, small and medium-sized enterprises.

Rocketship.vc invested $100 million in NoBroker and Moglix

Rokcketship.vc which is a silicon-valley based early-stage venture capital firm has raised $100 million for NoBroker and Moglix for its second round that will invest globally.

The new funding investment done by Rocketship.vc will help it marking its presence in the field of investment globally.  It will also enable the venture capital firm to increase its number of follow-on investments.

Rocketship was founded by Anand Rajaraman and Venky Harinarayan. Till now, they have invested in 44 companies in Series A and Series B funding round out of which 46% of them belongs outside the USA and 10 companies out of them are of Indian origin.

Agri-tech startup BigHaat secures funding in Series-A funding round

BigHaat secured funding of more than $2 million in Series-A funding round which was led by Japan’s Beyond Next Ventures, with participation from Rockstud Capital, existing investor Ankur Capital and other angel investors.

BigHaat is a Banglore based startup founded by Satish Nukala and Sachin Nandwana with a vision to digitise the agricultural inputs ecosystem as well as helping farmers through a combination of its e-commerce platform and leveraging data to provide crop advisory services.

The new funding raised by the company will be used for enhancing its technological infrastructure and hire fresh talented and skilled people for marketing and technology team.

CityCash raised funding from Orios Venture Partners

CityCash, a Mumbai-based startup operated by Tap Smart Data Information Services Pvt. Ltd has raised $1 million in a seed funding from early-stage venture capital firm Orios Venture Partners.

CityCash was founded in 2017 by Vineet Toshniwal. The startup aims at providing multi-purpose  NFC-based (near field communication) smart card for customers to use it for public transport or retail in an offline tap-and-pay based payments mode. This card is really useful in maintaining social distancing and avoiding contacts with people to fight the battle against the deadly virus.

Currently, the funding raised by CityCash is planning to be used for expanding market and merchant ecosystem and it reaches to more customers in order to expand the operations.