India Dealbook: Startups Wydr, Tyre Express and Ethosh raise funds

Photo: Mint

Mobile B2B marketplace Wydr, Enterprise IoT solutions startup Tyre Express and visual and interactive communications firm Ethosh have raised funds.

Mobile B2B marketplace Wydr raises Series A round

Mobile B2B marketplace Wydr has successfully raised second round of funding from Bessemer Venture Partners, Stellaris Venture Partners and Jungle Venture Partners. The financial details were not disclosed.

Axis Capital from Singapore has also participated in the Series A round of funding, said the company in a statement.

Launched in March 2016, the Gurgaon-based startup plans to utilise this funding to expand its seller base across wholesale hubs in India, introduction of new categories and technology innovation delivering more value to its B2B users.

Wydr is an app-based marketplace, which connects manufacturers, wholesalers and retailers. It offers a range of products across categories like fashion, home, automotive and electronics, and retailers can browse and order products. The company claims to have over 1,000 merchants selling their products on the app and more than 200,000 retailers who have downloaded the app.

Tyre Express raises seed funding from IvyCamp

Enterprise IoT solutions startup Tyre Express has raised seed funding of an undisclosed amount from IvyCamp.

Tyre Express is working on IoT-based solution for vehicle diagnostics and has developed a platform to track and monitor performance of tyres in real-time for fleet operators. IT enables a fleet operator to enhance tyre life, improve fuel efficiency, reduce incidence of accidents and improve the overall operational efficiency for the fleet.

IvyCamp is an initiative of IvyCap Ventures which is a unified technology based platform that leverages the Global Alumni Network to help entrepreneurs.

“We have a dedicated focus on the deep tech and IoT verticals here at IvyCamp. But there hasn’t been too much support for early stage IoT and hardware startups in the Indian eco-system but we feel that new sensor technologies and information infrastructure development will augment the Indian IoT startup story and we will find many more such investment transactions happening in this space.” Said Adhiraj Banerjee, Executive Director IvyCamp.

Ethosh raises funds from Deepak Nathani

Visual and interactive communications firm Ethosh has raised an undisclosed amount of funding from Deepak Nathani, co-founder of Cybage and founder of technology company Relfor Labs.

According to a report in The Economic Times, Nathani has picked up a 25% stake in Pune-based Ethosh in lieu of the investment.

Founded in 2011, Ethosh provides video solutions including interactive product experience, virtual and augmented reality, and visual technical learning.

The startup plans to use the funding to expand its presence across the US, Europe and India.

“We plan to accelerate our growth and bring more innovative solutions to our customers with this fund infusion,” said Deshpande, managing director of Ethosh.

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