India Dealbook: Cambridge Innovations backs Valet Anywhere & Ourly.help; WingsTravels looks to raise $15m

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Investment hub Cambridge Innovations (CI) which was launched in December 2015, has added two new startups to its portfolio, the company said today. In an another development, Wings Travel Management is looking at $15 million funding.

Cambridge Innovations invests in Valet Anywhere, Ourly.help

Cambridge Innovations has invested in two more companies including Valet Anywhere and Ourly.help, the company said today.

Founded in New York City in 2013, Valet Anywhere is seeking to transform the way people own cars in cities by making long-term parking more convenient and secure at prices lower than most garages.

It had previously raised $2.45 million from CyberAgent Ventures, AngelPad, Urban.US and other angel investors.

“The inconvenience of long term parking in a crowded city has implications both for the consumer and infrastructure. Valet Anywhere is addressing a market need through big data and machine learning innovation,” said Aashish Kalra, CEO, CI.

Ourly.help is the service platform for kids to learn about money and earn money from those they know.

“In the US alone, teens spend an average of $5,000 a year of their parents’ money. Ourly.help wants to create a better way for children to share in the work required for those earnings, as well as to begin developing the professional capabilities needed for life,” Kalra further said.

Other companies in CI’s portfolio include US-based RoadZen, Causemo, Authess, MyCrowd, PhotoKarma and Anthill Ventures.

It provides upto 25 per cent of seed capital to launch which will help the startups to get a better Series A round of funding.

WingsTravels looking to raise $15m

BPO transport service provider Wings Travels is planning to raise $15 million through equity dilution of promoters stake, according to an Economic Times report.

The company has appointed BDO India LLP as a consultant to help in raising funds.

It will use the money to launch retail travel services in 47 cities in India that have airports and four cities in the Southeast Asia – Myanmar (Yangon), Vietnam, Sri Lanka and Thailand, the report said.

Wings Travels recently acquired taxi aggregator Bookmycab.

It provides transport services to over a million employees of multinational and Indian companies across nine cities.

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