In this article, we
have highlighted some of the latest startup funding news in the
market.
Hiver, a
software-as-a-service startup, bags $4 million (about Rs 29.06 cr) in debt
funding from Mars Growth Capital, a Singapore-based joint debt fund launched by
MUFG Bank - Mitsubishi UFJ Financial's core banking unit and Liquidity Capital.
According to the
co-founder and CEO of the startup, Niraj Ranjan, the company plans to deploy
the capital to expand its marketing and sales efforts to widen its customer
base. Niraj founded the company with his co-founder Nitesh Nandy in 2011.
KreditBee, a digital lending startup based in Bengaluru, has raised worth
$75 million from its Series C Round from Premji Invest, Mirae Asset Naver Asia
Growth Fund, Alpine Capital, and Arkam Ventures. Kreditbee plans to use the
funds to expand its loan product offerings and improve its solutions
stack.
Happily Unmarried, the parent company
of Ustraa, has raised Rs. 20 crore in its Series H round. The brand sells men
grooming products under its subsidiary company Ustraa and sells its products
through retail outlets, web portals, and eCommerce marketplaces like Amazon and
Flipkart.
Zomentum, an IT sales acceleration platform, has raised $13 million in
Series A funding from Elevation Capital, Greenoaks Capital, Accel, and Eight
Roads Ventures. Zomentum is looking to use the money to expand geographically
and build out its products. The company was founded in 2018 by Shruti Ghatge
and Rahil Shah and had raised $4.1 million earlier in seed funding from Accel
and SAIF Partners six months ago. Zomentum helps IT channel partners and SMBs
to leverage the best IT solutions.
Grofers, an online grocery
delivery service based out of Gurugram, has raised $2.75 million in Series F
round from Euler Capital Fund, a Chicago-based asset management firm. Euler had
earlier invested $4.6 million in Cars24's Series D Round. Euler had earlier
invested %4.63 million in Cars24's Series D round in September 2019. Grofers is
a seven-year-old company founded by Albinder Dhindsa and Saurabh Kumar and is
yet to cross Rs 200 crore.
VerSe
Innovation has raised over $100
million (about Rs 728 crore) in a Series H funding round from Qatar Investment
Authority, the State of Qatar's sovereign wealth fund, and Glade Brook Capital
Partners. VerSe Innovation is the company behind Dailyhunt, a local language news
platform and Josh, a short-form video app. VerSe had hired Avendus Capital as
their exclusive financial advisor on the deal.
For more such latest startup funding news, please visit Entrackr.
