Our weekly column summarizes the tech financing highlights in India this week.
Software-as-service (SaaS) platforms drew major funding in India this week. Sales-enablement and optimization platform MindTickle secured the greatest amount of funding this week with USD 27 million in investment led by Canaan Partners. Adaptive fraud-prevention platform Simility followed with USD 17 million. Each of these platforms helps enterprises optimize and secure their services. Additionally, video-sharing app Clip, payment platform MSwipe, and fashion & lifestyle portal The Label Life also drew substantial funding from Indian and international investors.
Sales readiness and enablement platform MindTickle lands USD 27 M in Series-B funding
Founder: Krishna Depura, Mohit Garg, Deepak Diwakar and Nishant Mungali
Financing status: USD 27 M in Series-B funding round
California and Pune-based sales readiness and enablement platform MindTickel has raised USD 27 million in a Series-B funding round led by California venture capital investor Canaan Partners.
Adaptive fraud-prevention solutions provider Simility lands USD 17.5 M
Founder: Rahul Pangam, Uttam Phalnikar and Kedar Samant
Financing status: USD 17.5 M in Series-B funding round
California and Hyderabad-based fraud-prevention startup Simility has secured USD 17.5 million in a Series B round funding led by Accel Partners. Paypal, along with existing investors The Valley Fund and Trinity Ventures, also participated in the round.
Video sharing & editing app Clip secures USD 6M in Series A led by Matrix Partners
Founders: Nav Agrawal, Ashish Gupta, & Swapnil Upadhyay
Financing status: USD 6M in Series-A funding round
Clip, a Bangalore-based video-sharing startup landed USD 6 million in a Series-A funding round led by Matrix Partners India.
End-to-end payment platform Mswipe garners USD 10M
Founder: Manish Patel
Financing status: USD 10M in Series D
Mumbai-based point-of-sales (POS) platform Mswipe has raised USD 10M in Series-D funding led by B Capital, the investment fund of Facebook co-founder Eduardo Saverin.
Mumbai-based fashion & lifestyle ecommerce portal The Label Life lands USD 3.1 M
The Label Life
Founded: November 2015
Founders: Yashika Punjabee, Preeta Sukhtankar
Financing status: USD 3.1 M in 2017
Mumbai-based The Label Life has raised USD 3.1 M in funding led by Kalpavriksh, Centrum’s private equity fund. The company’s investors include Mithun Sacheti, Co-founder of CaratLane, and Haresh Chawla.
(Top photo from toutiao.com)