India Dealbook: HealthAssure, House of Masaba raise funds; Zomato buys an NPO

In the latest startup funding news, HealthAssure has raised $2.5 million led by Blume Ventures while Binny Bansal has invested in fashion brand, House of Masaba. In another development, Zomato announced that it has acquired Feeding India.

Blume Ventures backs HealthAssure

Health-tech startup HealthAssure Tuesday said it has raised $2.5 million in funding led by Blume Ventures.

The company plans to use the funds to further develop its platform, create sharper products focusing on insurance OPD products, build better data capabilities leveraging artificial intelligence and machine learning, and strengthen distribution.

Founded by Varun Gera in 2011, HealthAssure last raised $1 million in a pre-Series A round from The HR Fund in March 2018.

Binny Bansal invests in House of Masaba

House of Masaba, the luxury fashion label launched by designer Masaba Gupta, has raised $1 million in a funding round from Flipkart co-founder Binny Bansal.

The round also saw participation from Purple Style Labs, Apoorva Patni of Patni Group, and Apurva Salarpuria of Salarpuria group.

The startup plans to use the funding proceeds to scale its infrastructure, distribution network, and hiring. Founded in 2009 by Gupta, House of Masaba is known for its destination wedding wear and resort wear.

Zomato acquires Feeding India

Food ordering and delivery platform Zomato has acquired Feeding India, a not-for-profit organisation, for an undisclosed amount, the company announced on Tuesday.

Feeding India will continue to be a non-profit entity while Zomato will fund the operation. It will also support the development of the ‘Feedi.ng’ app which will connect donors and volunteers, and also help revamp the Feeding India website.

Zomato also aims to use the platform to serve at least 100 million underprivileged people every month. Feeding India is currently active in 82 cities.

 

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.