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MySmartPrice, a comparison shopping and product discovery service, has raised $10 million from Accel Partners and Helion Venture Partners in Series B funding. It will use the money to expand its hyper-local shopping services to over 50 cities, enable over one lakh local retail stores reach their customers online and super charge its growth to reach a gross merchandise value of $1 billion. MySmartPrice caters to over 10 million unique users monthly. It aims to become an omni-channel player by adding inventory and pricing from offline stores to its product offering.
BoxMySpace raises ₹19 cr
BoxMySpace, a Mumbai-based storage solution provider, has raised ₹19.2 crore from a consortium of investors led by Farooq Oomerbhoy, who was a co-founder of early stage fund Orios Venture Partners. Ritesh Veera and Singapore Angel Network participated in the funding round. The money will be used to expand operations to other metros, including Pune, Bengaluru and Delhi and for marketing. BoxMySpace uses technology to enable clutter-free homes and office spaces.
Catamaran invests in Innoviti
Innoviti Payment Solutions Pvt Ltd has raised ₹30 crore (about $ 5 million) from Catamaran Ventures and New India Investment Corporation, Canada. Previous investors include Titan Company Ltd. Innoviti, a leading provider of payment solutions, had raised ₹10 crore in January 2014 as a combination of debt and equity. The latest round of funding will be used to expand its business of real-time distribution of credit to small and medium enterprises. Innoviti distributes over ₹400 crore of loan to more than 10,000 SMEs across 20 cities through multiple lenders annually. The funding will be used for marketing, product development and for scaling up its overall payments infrastructure.
Joybynature.com raises $1 m
Joybynature.com, an e-commerce platform focussed on organic and natural products, has got $1 million in pre-Series A funding from a group of angel investors. Mumbai Angels and Contrarian Vriddhi led the investment round along with individual investors. The money will be used for private label launch, senior level talent acquisition, marketing and technology ramp up.
$2.3-m funding for Mobikon
Mobikon, a marketing platform for the F&B industry, has raised $2.3 million in a round led by Singapore-based Jungle Ventures. It will use the money to grow across markets such as India, the Philippines, Singapore and Dubai. Mobikon has over the last 18 months expanded out of India and is present in five countries. It had raised a Series A round in 2012-13 from Jungle Ventures, Spring Singapore and Lion Rock and with the latest funding, from new and existing investors, it has raised in all $5 million.
MSwipe receives $25 million
MSwipe Technologies Pvt Ltd, a leading independent mobile POS merchant acquirer and network provider, has raised $25 million in Series C funding. New investors Falcon Edge Capital, Ola Cabs and Meru Capital apart from existing investors Matrix Partners India, Axis Bank and DSG Consumer Partners participated in this round. MSwipe will use the funds to accelerate its growth.
Lightspeed invests $1 m in Oku Tech
Oku Tech’s BroEx, a leading network of real estate brokers, has raised $1 million in early-stage financing from Lightspeed India. The BroEx network is used by 25,000 brokers in Delhi-NCR, Mumbai, Bengaluru, Pune, Ahmedabad and Jaipur. The company will use the money to expand to all tier-I, -II and -III cities. It will also use the money for the next level of product development, including launching complementary products and services for brokers to facilitate transactions.
Warburg to invest ₹1,800 cr in Piramal
An affiliate of Warburg Pincus, a leading global private equity firm, will invest ₹1,800 crore in Piramal Realty for a minority stake in the company. The Mumbai-based Piramal Realty has over 10 million sq ft under development in various parts of Mumbai. It will use the money to expand its portfolio and acquire marquee land parcels in and around Mumbai.
Fidelity Growth invests in Cipla
Fidelity Growth Partners India and US-based Fidelity Biosciences, through FIL Capital Investments (Mauritius) II Ltd or its affiliates, will invest in pharmaceutical company Cipla’s consumer healthcare business. Through Cipla Consumer Healthcare, the company has entered the over-the-counter healthcare market in India.
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