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.
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.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|EkAnek (Foxy)||Delhi||5.4 million||Series A1||Alpha Wave Incubation||Matrix Partners India, Sequoia Capital India, and Lightspeed India||Internet||E-commerce|
|Dream Sports (Dream11)||Mumbai||225 million||-||Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital, Footpath Ventures||-||Travel & Leisure||eSports|
|SignalX||Hyderabad||750,000||-||3Lines Venture Capital||-||Information Services||SaaS|
|Cub McPaws||Mumbai||800,000||Pre-Series A||Takayuki Sugiura, Daisuke Takagi, Motoko Tanabe, Toshiro Wakimaru, Taichi Nakamura||Samyakth Capital||Retail||-|
|CustomFit.ai||Bengaluru||-||Pre-Seed||Java Capital||Upsparks, FirstCheque LetsVenture||Software||SaaS|
|Groww||Bengaluru||30 million||Series C||YC Continuity||Sequoia India, Ribbit Capital, Propel Ventures||Financial Services||FinTech|
|Zomato||Gurugram||102 million||Series J||Tiger Global Management||-||Food||FoodTech|
|OckyPocky||Gurugram||-||Seed||Lead Angels Network||-||Education/Training||EdTech|
|SOAL||Mumbai||1 million||Series A1||SARA Investments||-||Education/Training||EdTech|
|QShala||Bengaluru||364,864||Angel||Rainmatter Capital||Kalyan Banerjee, Sanjay Tambwekar, Cyril Amarchand Mangaldas, Avinash Umapathy||Education/Training||EdTech|
|Pitstop||Bengaluru||1.2 million||-||Acko||-||Consumer Services||-|
|Market Pulse||Mumbai||750,000||Pre-Series A||Ameet Desai, Aditya Goel, Rashmi Kwatra, Umasankar Nistala||-||Financial Services||Research (Non-Medical)|