Our weekly column summarizes the tech financing highlights in India this week.
Fintech was the best performer in India’s tech market over the past week. Loan financing startup Kissht raised USD 10 million, and mutual fund investment startup Fisdom raised USD 3.84 million. Other top performers from the week were online education startup Merination, which raised USD 5.8 million, online grocery platform Bigbasket, which raised USD 8 million, and healthtech app DocTalk, an app that allows patients and doctors to message each other, which raised USD 5 million.
Loan financing startup Kissht raises USD 10 M
Founder: Krishnan Viswanathan
Founded in: 2015
Financing status: USD 10 million for undisclosed round in 2017
Loan financing startup Kissht raised USD 10 million to improve its data science capacities by hiring additional engineers and analytics experts. Kissht also aims to enlarge its footprint and hopes to enter the fintech markets in about 20 Indian tier II and III cities.
Fintech startup Fisdom raises USD 3.8 M for Series B
Founders: S.V. Subramanya, Ramganesh Iyer, and Anand Dalmia
Founded in: 2015
Financing status: USD 3.8 million for a Series B round
Fintech startup Fisdom raised USD 3.8 million for Series B to improve its technology, hire new employees, and acquire more customers. It will also reportedly begin rolling out new products, such as special insurance offerings.
Elearning startup Merination raises USD 5.8 M
Founders: Pavan Chauhan and Ritesh Hemrajani
Founded in: 2007
Financing status: USD 5.8 million for undisclosed round in 2017
Elearning startup Merination raises USD 5.8 million to settle some of its debts, while the rest will be spent on growing the company’s operations.
Online grocery platform Bigbasket raises USD 8 M
Founders: V. S. Sudhakar, Hari Menon, Vipul Parekh, Abhinay Choudhari, and V. S. Ramesh
Founded in: 2011
Financing status: USD 8 million for undisclosed round in 2017
Online grocery platform Bigbasket raises USD 8 million to compete with its rival Grofers, an online grocery shopping store.
Healthtech startup DocTalk raises USD 5 M
Founders: Krishna Chaitanya Aluru, Akshat Goenka, and Vamsee Chamakura
Founded in: 2016
Financing status: USD 5 million for first institutional round
Healthtech startup DocTalk raises USD 5 million to put the money toward enlarging the number of hospitals in its network. The startup will also hire a new employees to support its continued growth.