Emerging Entrepreneurs

Disha Medical raises ₹28 crore

| Updated on June 24, 2019 Published on June 24, 2019

 

Disha Medical Services, which runs eye care services in rural areas under the brand name Drishti, has raised about ₹28 crore ($4 million) from Insitor Impact Asia Fund, the Nilekani Family Office (managed by Entrust Family Office) and other wealthy individuals. Drishti will use the money to build over 10 hospitals, vision centres and mobile eye clinics and to expand in other States. Existing investor, Lok Capital advised fund – Sarva Capital – has got a full exit as part of the fund raise. Drishti manages six eye hospitals, six mobile clinics and four vision centres in Karnataka. The company has treated over 4.6 lakh patients.

Jumbotail gets Series B funding

Heron Rock, an omni-stage venture fund, has led a ₹90-crore Series B round investment in Jumbotail, an online wholesale marketplace for food and grocery products, with participation from Capria Fund, BNK Ventures and William Jarvis. Existing investors Nexus Venture Partners and Kalaari Capital also participated in the round. The company will use the money to invest in AI-driven operational excellence supply chain, forward integration of Jumbotail platform with PoS, integrating backward to farmers, getting on board new FMCG brands and expanding the team.

Bounce secures ₹500-cr funding

Bounce, a smart dock-less mobility solutions start-up, has raised about ₹500 crore ($72 million) in a Series C round led by global technology fund B Capital Group and New York-based hedge fund Falcon Edge Capital. Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India and Qualcomm Ventures also participated in this round. With this round, Bounce has raised $92 million. The company will use the money to expand its presence nationally and for strengthening technology.

₹27-cr funding for Yellow Messenger

Bengaluru-based AI start-up Yellow Messenger has raised about ₹27 crore ($4 million) in a Series A round from Lightspeed Venture Partners and angel investors. The venture provides companies ready-to-use bot templates that are customisable with minimum code to automate text and voice conversation through natural language processing technology that can understand over 130 languages.

CE Ventures invests ₹80 cr in FreshtoHome.com

UAE-based CE Ventures has invested ₹80 crore in FreshtoHome.com, an e-commerce platform for fresh meat and fish delivery. The company will use the money to strengthen sourcing supply chain with technology support to fishermen and farmers across the country. It has so far raised ₹95 crore from investors. The company plans to expand operations in Mumbai and Pune. FreshtoHome.com has over five lakh customers in four cities connecting 1,500 local fishermen.

SwitchOn raises ₹7 cr from pi Ventures, Axilor, others

Industrial IoT start-up SwitchOn has raised about ₹7 crore ($1 million) in seed funding led by pi Ventures, with participation from Axilor and angels from The Chennai Angels. SwitchOn helps manufacturing industries identify plant-level botlenecks and improve equipment efficiency. It will use the money to strengthen the edge-compute architecture, expand the team and market adoption in India and in the EU and APAC region.

Sequoia, Ribbit lead ₹520-cr Series C round in Razorpay

Razorpay, a payments solutions company, has raised about ₹520 crore ($75 million) in a Series C round led by Sequoia India and Ribbit Capital, with participation from Tiger Global and Y Combinator. It will use the money to double its staff strength to 700 by next year and hire leaders for different product verticals. The company has so far raised $31.5 million from angel investors and MasterCard.

M&M invests $4 m in Swiss co

Mahindra & Mahindra's Farm Equipment Sector has picked up an 11.25 per cent stake for about $4.3 million in Switzerland-based agri-technology company Gamaya SA. It will use this investment to make available superior farming solutions accessible to the global farming community.

Piramal sells stake in Shriram Transport

Piramal Enterprises has sold its entire stake of 9.96 per cent in Shriram Transport Finance Co Ltd to third-party investors through the stock exchange for about ₹2,300 crore. Piramal had acquired the stake in 2013. Our Bureau

Published on June 24, 2019
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