Tech Financing in India this week – Biotech and e-commerce lead investment trend

Our weekly column summarizes the tech financing highlights in India this week.

In this week’s tech financing news, Bio-tech company MedGenome Labs Pvt. Ltd. attracted the largest amount of financing, USD 30 million. Following MedGenome, B2B online marketplace Power2SME came in second with USD 10 million, while Paytm’s related bank Paytm Payments Bank secured USD 9.3 million. Other notable startups include: Mfine, which offers online doctor consultation services, raised USD 1.5 million; fintech startup Datasigns Technologies raised USD 1.5 million; and e-commerce platform Aahaa Stores, which specializes in office supplies, raised USD 1 million.

Biotech company MedGenome raises USD 30M for Series C

MedGenome

Founders: Sam Santhosh

Founded in: 2013

Financing status: USD 30 million for Series C round in 2017

Biotech company MedGenome last Tuesday raised USD 30M for Series C to accelerate the development of its diagnostics tests, raise people’s awareness about the importance of genetic tests, and broaden biomarker discovery programs.

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Photo from Power2SME website

B2B e-commerce platform Power2SME raises USD 10 M

Power2SME

Founders: R. Narayan

Founded in: 2012

Financing status: USD 10 million for undisclosed round in 2017

B2B E-commerce platform Power2SME on Wednesday raised USD 10 M from IFC.

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Photo from Paytm Payments Bank website

Paytm Payments Bank raises USD 9.3 M

Paytm Payments Bank

Founder: Vijay Shekhar Sharma

Founded in: 2017

Financing status: USD 9.3 M for undisclosed round in 2017

Paytm Payments Bank on Wednesday raised USD 9.3 M to expand among India’s banking population.

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Photo from Pixabay

Healthtech startup Mfine raises USD 1.5M for undisclosed round

Mfine

Founders: Prasad Kompalli and Ashutosh Lawania

Founded in: 2017

Financing status: USD 1.5M for undisclosed round in 2017

Healthtech startup Mfine last Friday raised USD 1.5 M for undisclosed round to launch its app and increase hospital partnership.

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Photo from Iyiou website

Fintech startup Datasigns Technologies raises USD 1.5 M for pre-Series A

Datasigns Technologies

Founders: Monish Anand, Anand Barua, Mudit Tyagi, Rahul Sekar and Tushar Patel

Founded in: 2016

Financing status: USD 1.5 million for pre-Series A round in 2017

Fintech startup Datasigns Technologies on Tuesday raise USD 1.5 M to strengthen its technology team, plan its expansion into 18 new markets.

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Photo from Aahaa Stores Twitter

B2B online office supplies platform Aahaa Stores raises USD 1M pre-Series A

Aahaa Stores

Founders: Asokan Sattanathan, Rajaraman Sundaresan and Harish Kannan

Founded in: 2013

Financing status: USD 1M for pre-Series A round in 2017

B2B online office supplies platform Aahaa Stores last Friday raised USD 1M pre-Series A to strengthen its technology platform iPOS, recruit talents and develop new customers.

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(Top photo from Translation People website)

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AllTechAsia Staff

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