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The Wedding Brigade, an online portal for wedding shopping, has raised ₹4 crore in a pre-Series A round of funding led by Blume Ventures, with the participation of four angel investors. It will use the money to enhance the product and service offerings, grow the business and hire talent. The Wedding Brigade recently introduced a services marketplace, enabling users to book venues, hair and make-up artists and mehendi artists online or through its free expert concierge service. The platform has been launched in Mumbai and Delhi and will shortly expand to Bengaluru, Hyderabad and Chennai.
Axilor invests in MUrgency
Axilor, founded by among others Infosys founders Kris Gopalakrishnan and SD Shibulal to support early-stage entrepreneurs, has invested in MUrgency Inc, an emergency response mobile app provider. Based at Standford ChangeLabs in Silicon Valley, MUrgency ensures help from the nearest doctor, nurse or paramedic in a medical emergency. The company will use the money to develop the brand, recruit talent, augment technology and scale operations. Launched in Chandigarh, Mohali and Panchkula in February, MUrgency has developed a responder network of 36 hospital emergency rooms, more than 40 ambulances and above 350 medical professionals. Trial runs and initial response have shown that the average response time is under 9.20 minutes.
Ideaspring launches ₹125-cr fund
Ideaspring Capital, a ₹125-crore an early-stage venture fund targeting product innovation start-ups, launched its operations in Bengaluru last week. TV Mohandas Pai, Amit Patni, Arihant Patni, Naganand Doraswamy and Prashant Deshpande are among those backing the fund. It will provide up to ₹3-crore seed funding and subsequent co-investment at Series A stage of up to ₹5 crore.
DocsApp raises seed funding
DocsApp, an online doctor consultation app, has raised about ₹8 crore ($1.2 million) in seed funding from Japanese venture capital firm Rebright Partners and angel investors Anand Rajaraman and Venky Narinarayan, both of whom were early investors in Facebook. The app allows patients to chat with doctors and also share medical reports with them. DocsApp, founded by IIT-Madras alumni Satish Kannan and Enbasekar Dinadayalane, will use to money to expand their scale of operations and upgrading technology.
KKR backs Musale family
Global financial investor KKR has helped the Musale family, founding shareholders of Classic Stripes Pvt Ltd, to buy out private equity firm Navis Capital Partners’s 51 per cent stake in Classic Stripes. The deal is estimated at ₹350 crore. Our Bureau
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