Emerging Entrepreneurs

₹70-cr funding for Country Delight

Our Bureau | Updated on February 18, 2019 Published on February 18, 2019

Matrix Partners India has led a ₹70-crore ($10 million) investment round in Country Delight, a direct-to-home, mass premium fresh milk brand. Existing investor Orios Venture Partners participated in this round. Country Delight will use the money to scale operations nationally. Founded by Chakradhar Gade and Nitin Kaushal in 2015, Country Delight controls the whole supply chain and sources the milk from local farms and delivers directly to a consumer's home with minimal processing within 24-36 hours. The service is delivered through a mobile application.

5C raises funds from 3 investors

Healthtech start-up 5C Network, a radio-diagnostics company, has raised an undisclosed amount from Unitus Ventures, Axilor and the Centre for Innovation Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad. 5C Network will use the money to improve its pan-India presence and strengthen its technology team. The company aims to make radiology more accessible, affordable and accurate through technology. Over the next couple of years, 5C Network plans to reach over 1,000 hospitals, 200 radiologists and integrate the ecosystem in a mobile environment.

OpenApp secures ₹7 crore

OpenApp, a smart lock start-up, has raised about ₹7.1 crore ($1 million) in a pre-Series A round from Unicorn India Ventures and KARSEMVEN, an electronics-specific venture capital fund backed by the Karnataka Government. Existing investors Axilor and Kumar Vembu also participated in this round. The company has so far raised $2 million. The company will use the money for ramping up sales and marketing, and for R&D.

FourKites receives $50 million

FourKites, a predictive supply chain visibility company, has rasied $50 million in a Series C round. The round includes follow on funding from existing investors August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels. With this round, FourKites has raised $101.5 million. The company will use the money to expand its supply chain platform with new applications and capabilities, grow its global network of top shippers and carriers, and extend its initiative to help shippers share unused truck capacity.

Ebix buys Zillious

Ebix Inc, listed on the Nasdaq, which provides on-demand software and e-commerce services, has bought an 80 per cent stake in Zillious Solutions Pvt Ltd, an Indian on-demand SaaS travel technology solution provider. The acquisition cost was not disclosed.

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Published on February 18, 2019
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