India Dealbook: CoutLoot, Hector Beverages, SkillConnect raise funding

Team Coutloot

Fashion re-commerce platform CoutLoot has raised an undisclosed amount in pre-Series A funding through Venture Catalysts, Hector Beverages is raising fresh funding from existing investors, and jobs portal SkillConnect has received a funding from RAIN.

CoutLoot raises pre-Series A funding from Venture Catalysts

CoutLoot, the fashion re-commerce platform for buying and selling pre-loved fashion items, has raised an undisclosed amount of funding in its pre-Series A round through Venture Catalysts.

The funding round was led by Anuj Puri, and also saw participation from Artha India Ventures, Sidharth Kothari, Venture Catalysts president Apoorv Ranjan Sharma, Dheeraj Jain of Redcliffe Capital and others, according to a statement.

“The funds will be utilised towards scaling up, hiring consumer-driven talent, and marketing, as well as to build a bigger buyer-seller fashion community in the country. ,” said Jasmeet Thind, co-founder of CoutLoot.

CoutLoot was co-founded by Jasmeet Thind, Mahima Kaul, Sahil Khimavat & Vinit Jain. It is backed by Facebook as a part of the FB Start program and Venture Catalysts had also invested in the company earlier in June 2016.

Started operations in Mumbai initially, CoutLoot currently provides its services in 14 cities across India. It claims to achieve more than 1,00,000 app downloads, processes more than 200 daily orders and over 1500 daily listings.

Hector Beverages to raise funding from Sequoia, Catamaran

Bangalore-based Hector Beverages Pvt Ltd, which makes the Paper Boat brand of traditional Indian drinks, is raising Rs 50 crore ($7.8 million) in fresh funding led by existing investors Sequoia Capital and Catamaran Ventures, according to a Times of India article.

Founded in 2010 by Neeraj Kakkar and Neeraj Biyani, Hector Beverages recently raised Rs 20 crore ($3.1 million) in venture debt funding from Trifecta Capital. Before that, the company had received $29 million funding led by Sofina Capital and Hillhouse Capital two years back.

In 2011, Hector Beverages had secured funding from Catamaran Ventures, and Footprint Ventures. It subsequently raised investments from Sequoia Capital. With the new round, it will take the total to Rs 300 crore ($47 million).

Job portal SkillConnect gets funding from RAIN

Job portal SkillConnect which is run by Capacita Connect Pvt Ltd has secured an undisclosed amount of funding from Rajasthan Angel Investor Network (RAIN).

The angel network’s co-founder Mahavir Sharma confirmed the development to DEALSTREETASIA and said, the funding will be used for hiring, expansion and other plans.

Founded in May 2016 by IIM Calcutta alumnus Shipra Bhutani and Nimish Bhutani, SkillConnect helps job seekers find jobs and caters to 30 sectors. The startup claims to have 50,000 skilled workers and 10,000 companies registered on its portal.

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