India Deal Monitor: CredR raises $6m led by Omidyar and more updates

Mumbai-based Incredible Technologies Private Limited or CredR Thursday announced that it has raised about $6 million (Rs 38 crore) in funding led by Omidyar Network India.

Existing investors Eight Roads Ventures, GrowthStory, and AngelList also participated in the financing round, the company said in a statement.

“Our partnership with Omidyar Network India validates our shared vision to provide customer the best option to buy or sell used motorcycles. The funds raised in this round would help us to go deeper in the existing markets and to provide world-class customer experience using technology by expanding our tech and product teams,” Nikhil Jain, Founder and CEO of CredR, said.

CredR is a used motorcycle marketplace that integrates offline and online user buying experience through its chain of 50 plus franchisee showrooms across Pune, Bengaluru, Delhi NCR, Jaipur, Kota, and Hyderabad.

The startup claims that it has sold refurbished motorcycles to more than 130,000 customers to date.

INDIA DEAL MONITOR

Here are some of the prominent venture capital transactions in India between December 2- December 5.

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
indyFintBengaluru2.1 million Series ASaravanan Adiseshan, cofounder of the Allsec Group of CompaniesPaddy Padmanabhan, and Rajiv KuchhalFin Tech
Infinity TransoftGujarat--One97 Communications-E-Commerce/Consumer Internet
Kratikal Noida1 millionpre-Series AGilda VC, Art Venture, and Rajeev ChitrabhanuMadhusudan Gopinath, Shangrila Infotech LLP, Equentia Natural Resources, Artha Ventures, and LetsVenture Technology
Smart InstituteNew Delhi1.5 millionSeries AAh! VenturesHNIs & Family OfficesEducation

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.