India Dealbook: EasyRewardz raises $2m; VDeliver buys Towny App; India Accelerator to invest in 6 startups

EasyRewardz has secured $2 million in Series A funding, VDeliver has acquired Towny App meanwhile India Accelerator is investing around $150,000 in six startups.

EasyRewardz secures $2m in Series A round

EasyRewardz, a customer experience management company, has raised $2 million in Series A round led by TransContinental Venture Fund and existing angel investors Jitendra Gupta, MD at PayU; and new investor Vinay Chatlani, co-founder of Soch.

Venture Catalysts angels Jagdish Gothi (Kamdhenu Retail),Vikas Kapoor (Rivoli Fashions), Nitin Bardia (AT Jewellers) Ankit Kankariya (Sumeet Jewellers),Akash Gajwani (Diaa Global), Amit Agarwal among others also participated in the round, .

EasyRewardz will use the proceeds to expand its sales and marketing efforts, both in India and overseas, as well as accelerate product development, the company said in a statement.

As a part of the investment, Ashesh Shah, founder of TCVF, will join the EasyRewardz board.

Logistics firm VDeliver buys Towny App

Logistics firm VDeliver has acquired Towny app, a food delivery firm in a cash-and-stock deal. The deal amount was not disclosed.

Post deal, Towny will be rebranded as Exprs and will be launched in Hyderabad

“This acquisition allows us to reach out to smaller towns across Andhra Pradesh and Telangana. This will open up new avenues of true hyper local business,” said Srinivas Madhavam, founder and CEO of VDeliver.

Towny offers food delivery and other hyper local services in Hyderabad. It aims to cater 28 tier-I and tier-II cities by the end of financial year.

India Accelerator to back six startups

Gurgaon-based India Accelerator will invest $150,000 in six startups across sectors like fintech, artificial intelligence, transport and e-commerce.

According to a statement, each startup will receive $20,000 to $25,000. The startups including Voko; Square 1, Kuants, WAM, Evalk ASL and Cabbazar, are selected from a list of around 150 early-stage companies.

“While many players in the industry provide funding as the primary offering, we would like to create a more meaningful difference. Post seed funding, India Accelerator will handhold these startups through the intensive three-month mentorship-driven programme, said Mona Singh, chief acceleration officer of India Accelerator.

India Accelerator was founded by Ashish Bhatia and Abhay Chawla this year. The accelerator is a member of member of Global Accelerator Network (GAN).

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