Our weekly column summarizes the tech financing highlights in India this week.
In this week’s tech financing news, Bio-tech company MedGenome Labs Pvt. Ltd. attracted the largest amount of financing, USD 30 million. Following MedGenome, B2B online marketplace Power2SME came in second with USD 10 million, while Paytm’s related bank Paytm Payments Bank secured USD 9.3 million. Other notable startups include: Mfine, which offers online doctor consultation services, raised USD 1.5 million; fintech startup Datasigns Technologies raised USD 1.5 million; and e-commerce platform Aahaa Stores, which specializes in office supplies, raised USD 1 million.
Biotech company MedGenome raises USD 30M for Series C
MedGenome
Founders: Sam Santhosh
Founded in: 2013
Financing status: USD 30 million for Series C round in 2017
Biotech company MedGenome last Tuesday raised USD 30M for Series C to accelerate the development of its diagnostics tests, raise people’s awareness about the importance of genetic tests, and broaden biomarker discovery programs.
B2B e-commerce platform Power2SME raises USD 10 M
Power2SME
Founders: R. Narayan
Founded in: 2012
Financing status: USD 10 million for undisclosed round in 2017
B2B E-commerce platform Power2SME on Wednesday raised USD 10 M from IFC.
Paytm Payments Bank raises USD 9.3 M
Paytm Payments Bank
Founder: Vijay Shekhar Sharma
Founded in: 2017
Financing status: USD 9.3 M for undisclosed round in 2017
Paytm Payments Bank on Wednesday raised USD 9.3 M to expand among India’s banking population.
Healthtech startup Mfine raises USD 1.5M for undisclosed round
Mfine
Founders: Prasad Kompalli and Ashutosh Lawania
Founded in: 2017
Financing status: USD 1.5M for undisclosed round in 2017
Healthtech startup Mfine last Friday raised USD 1.5 M for undisclosed round to launch its app and increase hospital partnership.
Fintech startup Datasigns Technologies raises USD 1.5 M for pre-Series A
Datasigns Technologies
Founders: Monish Anand, Anand Barua, Mudit Tyagi, Rahul Sekar and Tushar Patel
Founded in: 2016
Financing status: USD 1.5 million for pre-Series A round in 2017
Fintech startup Datasigns Technologies on Tuesday raise USD 1.5 M to strengthen its technology team, plan its expansion into 18 new markets.
B2B online office supplies platform Aahaa Stores raises USD 1M pre-Series A
Aahaa Stores
Founders: Asokan Sattanathan, Rajaraman Sundaresan and Harish Kannan
Founded in: 2013
Financing status: USD 1M for pre-Series A round in 2017
B2B online office supplies platform Aahaa Stores last Friday raised USD 1M pre-Series A to strengthen its technology platform iPOS, recruit talents and develop new customers.
(Top photo from Translation People website)
