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Truebil receives ₹20-cr funding
Truebil, a verified marketplace for used cars, has raised about ₹20 crore ($3 million) in a follow-on Series A round from Shunwei Capital, a Chinese venture capital fund. It will use the money to intensify operations, strengthen technology infrastructure and in skill development. The venture had raised $500,000 as seed funding from Kae Capital and angel investor Anupam Mittal and then subsequently raised about ₹35 crore ($5.5 million) in a Series A round from Kalaari Capital, Inventus Capital, Kae Capital and Tekton Ventures. This is Shunwei Capital’s maiden investment in India.
CarTrade gets ₹375 crore
CarTrade, a leading online automobile classifieds platform, has raised about ₹375 crore ($55 million) in a round led by Temasek alongside a large US family office. It will use the money to support CarTrade’s growth plans through acquisitions, expansion into new areas such as auto finance and to improve service to customers, dealers and manufacturers. Existing investors in CarTrade include Warburg Pincus, Temasek, JP Morgan and March Capital.
₹8-crore funding for Zenatix
Zenatix Solutions, a data-driven energy efficiency company, has raised ₹8 crore in a pre-Series A round of funding led by pi Ventures. Existing investor Blume Ventures participated in this round. Zenatix had earlier raised money from a group of angel investors led by Rahul Khanna (Trifecta Capital), Rajan Anandan (Google) and Kunal Bahl and Rohit Bansal, Snapdeal’s co-founders. Zenatix is focussed on the Indian market now and plans to expand internationally in the next 6-12 months. It will use this round of capital to hire across all functions – technology, product, operations and sales.
SRI Capital invests in Imaginate
Imaginate, a virtual reality start-up, has raised about ₹3.40 crore ($500,000) from seed stage venture fund SRI Capital. Imaginate’s early seed investor IIIT-Hyderabad exited with this funding round.
Angel funding for The Ken
The Ken , a subscriptions only business news site, has raised about ₹2.70 crore ($400,000) in an angel round of funding. The investors include Deepak Natraj, Managing Director, Aarin Capital; Girish Mathrubhootham, founder and CEO, Freshdesk; Mahesh Murthy, co-founder, Seedfund; V Balakrishnan, Chairman, Exfinity Ventures; and Vijay Shekhar Sharma, founder and CEO, Paytm. Our Bureau
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