India Dealbook: Startups Beardo, InMotion, InstaCar raise funds

Men’s grooming startup Beardo, fintech firm InMotion and online taxi marketplace InstaCar have raised funds.

Men’s grooming brand Beardo raises $500k from Venture Catalysts

Ahmedabad-based men’s grooming brand Beardo has raised seed funding of $500,000 from Venture Catalysts.

Angel investors including Raj Vazirani – RHV enterprise, Siddharth Somaiya of Godavari Biorefineries and Somaiya Group,  Rohit Parakh – Diector, Touchstone Services, CA Anuj Golecha & Dr Apoorv Ranjan Sharma -Co-Founders, Venture Catalysts and others participated in the round, the company said in a statement.

Founded in October 2015 by Ashutosh Valani and Priyank Shah, Beardo provides wide personal hair and body care offerings including  beard washes, beard balm, beard & hair growth oil, serum, face washes, beard & hair wax, soaps, and beard combs among others.

Beardo, men’s personal care and grooming brand began with just beard oils and today their range includes beard washes, beard balm, beard & hair growth oil, serum, face washes, beard & hair wax, soaps, beard combs and many more. The company claims to clock around 500 orders per day.

Raising funds from Venture Catalysts will certainly help our business to expand our reach offline and upgrade logistics and infrastructural needs. Besides infusing funds, VCats have been tremendously co-operative in providing mentorship, quick evaluation and super quick decisions,” Ashutosh Valani, Co- founder, Beardo said.

InMotion Media Ventures raises funds from 1mg founders

Health tech firm 1mg’s founders Prashant Tandon and Gaurav Agarwal have invested an undisclosed amount in fintech company InMotion Media Ventures‘ Pre-Series A round of funding, according to an Inc42 report.

Angel investors including Gaurav Bhogle, Shrishti Sahu, Shantanu Mathur, and Prabhat Agarwal also participated in the round, which is yet to close.

The Noida-based startup is looking to raise $225,000 in the round from other investors. It plans to use the for expansion of its network and operations to Tier II and Tier III cities in north India as well as product development.

Founded in 2015, InMotion’s app claims to transfer money in any bank account in India in real-time. It also offers the service to build a credit score to its users and enables them to access financial, insurance, and pension services as well.

InstaCar raises $1m from Swastika

Online outstation taxi marketplace InstaCar has raised $1 million as seed funding from Hong Kong-based Swastika Company Ltd.

According to a report by  YourStory, the Indore-based firm, which was founded in August 2016, plans to raise more funding in the next six months.

InstaCar claims to have  onboarded over 500 cars in Madhya Pradesh itself.

InstaCar provides inter-city car rentals solutions to commuters, offering one-way fare ride to commuters for outstation trips up to 400kms.

Swastika has also invested in curated online marketplace for used books called AbeRuk; Gurgaon-based on-demand concierge startup Qlivery; Noida-based restaurant deals startup Pocketin; and Gurgaon-based beauty and wellness startup Stylofie.

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