Moglix, a business-to-business e-commerce venture, has raised about ₹78 crore ($12 million) in a Series B round from International Finance Corporation and Rocketship. Existing investors Accel Partners, Jungle Ventures, Venture Highway and former Twitter executive Shailesh Rao also participated in this round. Moglix will use the money to support the demand for its technology solution in supply chain and manufacturing.
Jumbotail raises ₹55 crore
Jumbotail, an online marketplace for food and grocery, has raised about ₹55 crore ($8.5 million) in a Series A round from Kalaari Capital and Nexus Venture Partners. Nexus had earlier invested about ₹13 crore ($2 million) in the company. Jumbotail, which serves wholesale customers such as kirana store in Bengaluru, plans to use the money to building technology and enhancing operational capabilities.
Time of Sports gets angel funding
Time of Sports, a sports company specialising in consultancy services, has raised an undisclosed sum of money as angel funding from Sandeep Arya, Chairman and Managing Director, Amtrak Technologies Pvt Ltd. The company will use the money to expand the existing sports consultancy services and develop a sports mobile app that will converge online and on ground sports and fitness activities.
$1-m funding for Fitpass
Fitpass, an all-access pass to gyms and fitness studios, has raised about ₹6.5 crore ($1 million) from Olympic Gold medallist Abhinav Bindra and his business partner Gaurav Marya, Chairman, Franchise India. Fitpass will use the money to expand the suite of its offerings in 10 cities in the next six months.
FORMCEPT raises Series A funding
FORMCEPT Technologies and Solutions Pvt Ltd, incubated at the Centre for Innovation, Incubation and Entrepreneurship at IIM Ahmedabad, has raised an undisclosed amount in Series A from venture capital firm GVFL Ltd. It will use the money to expand its technology team. Our Bureau
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