India Dealbook: Yumlane, Kriger Campus, GSVlabs secure funding

A woman counts her U.S. dollar bills at a money changer in Jakarta. Photo: REUTERS/Beawiharta

Fresh foods brand Yumlane, education technology startup Kriger Campus and US-based accelerator GSVlabs have secured fresh rounds of funding.

Yumlane raises $4m led by RB Investments

QwikPik Technology, which owns and operates fresh food products brand Yumlane, has raised $4 million in a funding round led by Singapore-based RB Investments.

According to a report in The Economic Times, the Series A round also saw participation from existing investors, including Flipkart co-founder Binny Bansal, venture capital firm Orios Venture Partners, and some high net worth individuals.

The Mumbai-based startup plans to use the latest funding toward new product development, ramping up its distribution and retail footprint, and for marketing, CEO Hitesh Ahuja told the newspaper.

In 2016, the company had raised seed funding of around $1 million from Binny Bansal and People Group founder Anupam Mittal along with Sachin Bhatia, co-founder of TrulyMadly, angel investor Kunal Khattar and Dheeraj Jain, a partner at UK-based hedge fund Redcliffe Capital.

Edtech startup Kriger Campus gets angel funding

Education technology startup Kriger Campus has raised seed funding of Rs 3,000,000 ($46,000) from an undisclosed angel investor.

The Delhi-based startup, which was launched earlier this year, plans to launch its mobile-based education network next month.

According to an official statement, the Delhi-based startup plans to use the funds to expand its team and develop its website and mobile app.

Students, teachers, schools, colleges and other educational institutions can register on Kriger’s platform to grow their network, get updates about the latest exams, and buy or sell educational content. The platform will also offer career counselling and other education services.

Accelerator GSVlabs raises $7m in Series B round

Silicon Valley-based GSVlabs has completed its Series B round of funding worth $7 million led by a syndicate of private investors, including partners from HMC Capital.

Terms of the transaction were not disclosed.

The accelerator recently launched a centre in Boston and it operates accelerator programs in Bangalore and Gurgaon in partnership with media firm Times of India. According to an official statement, GSVlabs is targeting an expansion into 40 global innovation hubs over the next five years.

With the financing, GSVlabs also announced the appointment of Nikhil Sinha as Chief Executive Officer and GSV partner.

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India: Yumlane raises funds from Binny Bansal, Anupam Mittal, others

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