Moneycontrol PRO
Open App

Funding wrap: Yaantra gets $3.1 mn from Carpedium, LBB raises USD 1 mn

Series-A and angel stage deals have seen an increase in the Indian market, this year.

October 05, 2017 / 04:18 PM IST

While series A deals have seen an increase in the market, there has been a problem in late stage deals which have seen a slowdown due to valuation correction.

Here are a few deals in Series A and angel stage this week: 

LittleBlackBook raises USD 1 mn from Blume, IDG and IAN: 

New Delhi-based Little Black Book, a local recommendations platform has raised Rs 6.5 crore from Blume Ventures and existing investors IDG Ventures and Indian Angel Network (IAN).

In 2016, LBB had raised about USD 1.2 million (about INR 8 crore) round of funding, led by venture capital firm, IDG Ventures India, and Indian Angel Network (IAN).

Close

The company said it will use the raised funds to expand its geographical footprint and scale its revenue streams through integrated offerings to its consumers and local businesses.

A web and app-based platform reach out to over 2 million users every month across eight markets in India.

It has grown over 300 percent with respect to user-reach, over 500 percent with respect to revenue growth.

Yaantra raises USD 3.1 million from Carpediem Capital and Duane Park

Mobile repair and refurbishment startup Yaantra raised a fresh round of equity funding worth USD 3.1 million from its existing investors- Carpediem Capital Partners and Duane Park.

The company sells refurbished multi-brand smartphones with warranty across India and provides on-demand multi-brand smartphone repair services across New Delhi, Bengaluru, Mumbai, Chennai, Pune, Hyderabad, and Ahmedabad.

It was founded in 2013, by Jayant Jha, Ankit Saraf, and Anmol Gupta.

It will invest in setting up presence in 25 tier II cities by 2018.

It had earlier raised USD 6 million from existing investors in September 2016.

Solar startup Orjan raises Rs 2.9 crore from Globevestor

Mumbai-based rooftop solar platform Oorjan has raised USD 450,000 in seed funding from US-based Globevestor, an online venture capital firm.

The company will use the funds to scale operations, augment sales efforts, and build its technology advantage.

The company was founded in 2014 by IIT Bombay alumni Roli Gupta and Gautam Das. It has operations in Mumbai, Pune, Bangalore, and Chennai.
Invite your friends and family to sign up for MC Tech 3, our daily newsletter that breaks down the biggest tech and startup stories of the day

first published: Oct 5, 2017 04:08 pm
Sections
ISO 27001 - BSI Assurance Mark