Tech Financing in India this week — A news aggregator jumps ahead

With a large market and huge growth potential, India is expected to maintain its speedy economic growth. China’s internet companies have served as models for India’s expanding information technology sector, and lots of Indian entrepreneurs want to replicate the success of businesses such as Alibaba. On May 22, NewsDog, India’s “Toutiao,” secured USD 50 million in a Series C round of funding led by China’s tech giant Tencent. DHVC, Legend Capital, and Dotc United Group also participted in the financing round. NewsDog is a news content aggregator which collates articles in English and various regional Indian languages. The startup plans to use the funds to increase its base of content creators and adopt blockchain technology as it expands.

1. On May 21, ImpactGuru announced that it had raised USD 2 million in a Series A round of funding led by Apollo Hospitals Group and Venture Catalysts. ImpactGuru is a crowdfunding platform for individuals, nonprofits, and social enterprises. The startup will use the funds to enhance its marketing and develop its technology platform with artificial intelligence, machine learning, and big data.

2. On May 21, Raw Pressery raised USD 9.55 million in funding from Sequoia Capital, Saama Capital, and DSG Consumer Partners. Raw Pressery is an organic cold-pressed juice maker that also provides delivery services to its customers in India. The startup plans to use the funds to expand into other South Asian countries.

3. On May 22, Milkbasket raised USD 7 million in a Series A financing round led by Kalaari Capital, along with Unilever Ventures, BeeNext, and Blume Ventures. Milkbasket is a subscription-based delivery service that supplies users with their daily groceries and household items each morning. The startup will use the funds to enhance its supply chain and last-mile logistics and grow its geographical footprint.

4. On May 23, Smartivity Labs secured USD 2 million from Ashish Kacholia. Smartivity Labs is an edtech startup based on Augmented reality (AR) that designs educational toys, robotics, and other learning tools for children. The startup plans to use the funds to expand its reach overseas.

5. On May 25, BetterPlace raised USD 3 million in a Series A round of funding from 3one4 Capital. BetterPlace is a job recruitment platform for blue and grey-collar industries. The startup will use the funds to add new services and into new vertical sectors such as skilling, compliance, and fintech services.

(Top photo from unsplash.com)

Simin Li
Simin Li

Simin writes for us, by focusing on tech and financing news in Asia. She’s also interested in politics, cyber culture, and new media. She is studying English Language and Literature at Renmin University of China.

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