Our weekly column summarizes the tech financing highlights in India this week.
Mobile gaming takes the investment lead in India’s market. Thanks to the development of mobile Internet and smartphones, it’s easier for us to take advantage of segmented time for entertainment. Gaming has long since been many smartphone users’ first stop when provided with spare time. Various startups in India seek opportunities to meet such customers’ demands by providing high-quality games on mobile devices. This week, Mobile gaming startup Nazara raised approximately USD 51 million led by IIFL Special Opportunities Fund.
Mobile gaming startup Nazara raises USD 51 M
Nazara
Founder: Nitish Mittersain
Founded in: 2000
Financing status: USD 51 million for undisclosed round in 2017
Mumbai-based mobile gaming startup Nazara has raised approximately USD 51 million in a funding round led by IIFL Special Opportunities Fund.
Mobile fitness startup Mobiefit secures USD 1.35 M for Pre-Series A
Mobiefit
Founders: Gourav Jaswal, Gul Panag, Shantanu Raghav, Pravar Peri, Sushant Chavan
Founded in: 2015
Financing status: USD 1.35 million for undisclosed round in 2017
Goa-based mobile fitness startup Mobiefit has raised USD 1.35 million in a Pre-Series A funding round led by NB Ventures and existing investor MediAssist India.
Online property rental startup NestAway lands 50 M
NestAway
Founders: Amarendra Sahu, Deepak Dhar, Smruti Parida, and Jitendra Jagadev
Founded in: 2015
Financing status: USD 50 million for undisclosed round in 2017
Bangalore-based online property rental startup NestAway has raised USD 50 million in a fresh round of funding from Ratan Tata’s UC-RNT Fund, the joint investment fund between Tata Sons Ltd chairman emeritus Ratan Tata and the University of California. Existing investors IDG Ventures and Tiger Global also participated in the round.
Hyperlocal services app Dunzo raises USD 12 M
Dunzo
Founders: Ankur Aggarwal, Dalvir Suri, Mukund Jha and Kabeer Biswas
Founded in: 2015
Financing status: USD 12 million for undisclosed round in 2017
Bangalore-based, chat-based hyperlocal services app Dunzo has raised USD 12 million in a fresh funding round from search engine giant Google. Existing investors Blume Ventures and Aspada also participated in the round. Reportedly, this is Google’s first direct investment in the Indian startup ecosystem.
（Top photo from Baidu Images.）
