India Dealbook: IndianMoney, Kinsane, Bikxie raise funds; GolfLan buys Golf Centra

Financial service portal IndianMoney, digital entertainment company Kinsane Entertainment and bike taxi startup have raised funding. Also, GolfLan has acquired golf tech startup Golf Centra.

Financial services portal IndianMoney.com raises $3m

Financial services and consultancy firm  IndianMoney.com has raised $3 million led by US-based early stage venture capital fund SRI Capital.

The round also saw participation from existing investors including Hyderabad Angels, the company said in a release.

“The company will use this new investment to augment its capacity to educate about 100,000 people every day. Currently the company educates about 18,000 people every day. In the next 2-3 years, the company will ensure that its consumers get education, transactional guidance, ability to transact and custodian services in one place,” it added.

Founded in 2008 by CS Sudheer, IndianMoney provides free consultation to people looking for expert opinions on matters related to personal finance. It also connects financial intermediaries with consumers interested in financial products through its mobile application ‘Lead Market’.

Kinsane Entertainment raises $2.5m angel funding

Digital entertainment firm Kinsane Entertainment Inc has raised $2.5 million in funding from a clutch of angel investors, including Zodius Capital founder Neeraj Bhargava.

US-incorporated Kinsane Entertainment, Inc. operates in India through its subsidiary, Kinsane Digital LLP.

Co-founded last year by Kurt Inderbitzin, Indrani Pillai and Saahil Bhargava, Kinsane plans to publish original shows through various mediums including live action, animation, games and books.

It plans to use this latest funding to create a range of videos and games targeting children aged between 2 and 11 years.

Bike taxi startup Bikxie raises funds from GEMS Partners

Bike taxi service start-up Bikxie, operated by Madhatters Voyage Pvt. Ltd, has recently raised an investment around Rs. 2 crore ($314,000) from GEMs Partners and Sachin Khandelwal, ex Honda Cars and ICICI Bank Vehicle Loans Head.

The Delhi-based startup plans to use this latest round of funding to upgrade its technology and infrastructure, pushing internal growth, consolidation and expansion of operations to other cities, according to an official statement.

Founded in January 2016, Bikxie had earlier raised few rounds of seed and angel funding from reputed investment bankers, management professionals, and businessmen.

“The fresh capital from GEMs will help us to scale up quickly within the NCR market and also expand to other cities,” said Mohit Sharma, Co-Founder & CEO, Bikxie.

GolfLan acquires Golf Centra in all-cash deal

Golf technology solutions provider GolfLan has acquired Delhi-based deep technology startup Golf Centra in an all-cash deal, according to a report in The Economic Times.

The financial details of the deal, which marks GolfLan’s third strategic acquisition, were not disclosed.

As per the news report, GolfLan is looking to invest over Rs 3 crore ($0.5 million) in the entity to penetrate into the South East Asian markets.

Golf Centra, which helps golf courses manage their inventory through a tech platform, will enable Golflan users to get their bookings done through its platform.

“This acquisition will help us to get ahead of global competitors by over 18 months and generate over $5 million of revenue in the next 12 months. During phase one, we plan to market the application to golf courses in India, Singapore, Sri Lanka, Malaysia, Thailand, Vietnam & Indonesia,” Dhruv Verma, founder and CEO, GolfLan told the newspaper

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