Milkbasket raises ₹45 cr in Series A

Milkbasket, a daily grocery delivery service, has raised about ₹45 crore ($7 million) in a Series A round led by Kalaari Capital with participation from Singapore-based BeeNext and existing investors Unilever Ventures and Blume Ventures. The company will use the money to innovate in supply chain efficiencies and last mile logistics, expand into other geographies and grow in existing markets. Milkbasket fulfils the grocery needs of over 40,000 households in more than 180 communities in Gurgaon.

App-based on-demand healthcare service mfine has raised about ₹27 crore ($4.2 million) in a Series A round led by Prime Venture Partners, with participation from existing investors Stellaris Venture Partners and healthcare entrepreneur Mayur Abhaya. The company will use the money to build the hospital network across cities and strengthen the technology team. mfine plans to achieve over one lakh consultations by 2018 end and partner with more than 50 top hospitals across the country. It has clocked more than 10,000 consultations.

Fintech start-up Open, which offers a digital banking service for small businesses, has raised an undisclosed amount in a pre-Series A round led by Unicorn India Ventures and Recruit Co Ltd. Existing investors ISME-ACE and BetterCapital AngelList also participated in this round. The money will be used to get more customers and grow the business.

Knudge.me, a gamified social learning platform, has raised an undisclosed amount from Indian Angel Network, a leading angel investor group. Axilor also participated in this round. The money will be used to build the product and to create global edutainment platform.

IIFL Special Opportunities Fund has picked up a minority stake in Bikaner-based Bikaji Foods International Ltd for ₹251 crore through a mix of primary and secondary investment. The deal also marks a part exit of existing investors Lighthouse Funds and Intensive Softshare.

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