India Deal Monitor: EkAnek raises $5.4m led by Alpha Wave and more updates

EkAnek Networks Pvt Ltd, which operates the personalised e-commerce platform Foxy, has raised about $5.4 million (Rs 40 crore) in its Series A1 investment round led by Alpha Wave Incubation (AWI), a $300 million venture fund managed by Falcon Edge Capital.

Existing investors, Matrix Partners India, Sequoia Capital India, and Lightspeed India also participated in the financing round, the startup said in a statement on Monday.

The company said it will use the funding proceeds to expand its presence in Abu Dhabi. Besides, it will also use the capital to hire and build a team of data scientists, product managers, and engineers in Abu Dhabi.

Founded in 2018, EkAnek runs the beauty and grooming platform Foxy, which offers customers a personalised shopping experience that incorporates selfie-analysis and targeted curation. It provides its brand partners with full stack solutions to drive D2C operations, including curation, brand logistics, marketing tools, influencer networks, and video commerce.

EkAnek claims to have more than 120 brands and over 6,000 beauty and grooming influencers on its platform.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from September 9-14, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
EkAnek (Foxy)Delhi5.4 millionSeries A1Alpha Wave IncubationMatrix Partners India, Sequoia Capital India, and Lightspeed IndiaInternetE-commerce
Dream Sports (Dream11)Mumbai225 million-Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital, Footpath Ventures-Travel & LeisureeSports
SignalXHyderabad750,000-3Lines Venture Capital-Information ServicesSaaS
Cub McPawsMumbai800,000Pre-Series ATakayuki Sugiura, Daisuke Takagi, Motoko Tanabe, Toshiro Wakimaru, Taichi NakamuraSamyakth CapitalRetail-
CustomFit.aiBengaluru-Pre-SeedJava CapitalUpsparks, FirstCheque LetsVentureSoftwareSaaS
GrowwBengaluru30 millionSeries CYC ContinuitySequoia India, Ribbit Capital, Propel VenturesFinancial Services FinTech
ZomatoGurugram102 millionSeries JTiger Global Management-FoodFoodTech
OckyPockyGurugram-SeedLead Angels Network-Education/TrainingEdTech
SOALMumbai1 millionSeries A1SARA Investments-Education/TrainingEdTech
QShalaBengaluru364,864AngelRainmatter CapitalKalyan Banerjee, Sanjay Tambwekar, Cyril Amarchand Mangaldas, Avinash UmapathyEducation/TrainingEdTech
PitstopBengaluru1.2 million-Acko-Consumer Services-
Market PulseMumbai750,000Pre-Series AAmeet Desai, Aditya Goel, Rashmi Kwatra, Umasankar Nistala-Financial Services Research (Non-Medical)

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.