Matchmaking services provider Matrimony raises USD 35.3 M for pre-IPO
Founders: Murugavel Janakiraman
Founded in: 1997
Financing status: USD 35.3 million for pre-IPO round in 2017
Chennai-based online matchmaking services provider Matrimony has raised USD 35.3 million for pre-IPO. Anchor investors include Smallcap World Fund, HDFC Trustee Company, Baring Private Equity Asia, BNP Paribas Arbitrage, Goldman Sachs India, and DB International (Asia).
The IPO will reportedly open on September 11 and will close on September 13.
Matrimony was founded in 1997 by University of Madras alumni Murugavel Janakiraman. Janakiraman has a master’s degree in computer science, and, prior to founding Matrimony, worked as a consultant in the US for leading companies on software projects.
Launched in 2001, Matrimony.com is an online matchmaking and marriage services provider. With 140 branches across India, BharatMatrimony, its flagship brand, has 15 language-based domains under its umbrella. The company has several new matrimony related services such as AssistedMatrimony.com, EliteMatrimony.com, MatrimonyDirectory.com, and Tambulya gift stores, all in addition to CommunityMatrimony.com, which is one of the world’s single largest conglomerates with over 300 community-oriented portals.
Reaching South Asian users in the U.K., U.S., Dubai, Sri Lanka, and Malaysia, it has achieved a sizable retail presence with over 180 branches across India.
Other players in the matchmaking area in India include Shaadi.com, SimplyMarry, and Jeevansaathi.
Cancer diagnostics startup OncoStem secures USD 6 M
Founders: Manjiri Bakre
Founded in: 2011
Financing status: USD 6 million for undisclosed round in 2017
OncoStem was founded in 2011 by Manjiri Bakre, an Indian Institute of Science alumnus. She previously worked as a principal scientist of Philips Research. She also served as a group leader of biotech company Avesthagen as well as a research scientist of Genome Institute of Singapore.
OncoStem is an oncology diagnostics startup with aims to develop innovative multi-marker prognostic and predictive tests to enable personalized treatment planning for patients with cancer. OncoStem’s focus is on developing tests to identify patterns of recurrence in various cancers. Another focus has been the development of CanAssist-Breast, which identifies the risk of recurrence in patients with hormone-receptor-positive breast cancer. It also provides a breast oncology based biomarker testing service. Similar tests in oral, lung, and colorectal cancer are under development.
The startup will use the newly raised funds to deepen its research and development initiatives, and develop and automate tests for oral, brain, and colon cancer. The funds will also be spent on domestic and overseas expansion.
Other players in India’s health-tech area include MedGenome, Niramai Health Analytix, iGenetic Diagnostics, and Core Diagnostics.
(Top photo from Huanqiu.com)