India Dealbook: Insignia Art Collect secures $522k, Truebil raises $3m from Shunwei Capital

The latest in the startups deals space in India has seen Gurgaon-based Insignia Art Collect has raise $522k in funding from DSG Consumer Partners while online marketplace for used car Truebil has received $3 million funding from China’s Shunwei Capital.

Insignia Art secures $522k led by DSG Consumer Partners

Gurgaon-based Insignia Art Collect Pvt Ltd has raised $522,000 from DSG Consumer Partners in its first external round of funding, according to an Economic Times article.

Started in 2013, the company owns and operates three properties – BestCollegeArt, Art District XIII and The Wall Art Magazine. Insignia Art Collect was founded by Nikhil Girdhar, Pooja Mishra and Jyotsna Sharma.

“Insignia is an interesting mix of curated art at Art District XIII for the top end of the art market and for representation in global fairs, for emerging artists selling affordable art and The Wall ­an authoritative source on Indian and global art news…We look forward to working with the team to build a market leading art business,” said Deepak Shahdadpuri, managing director, DSG Consumer Partners.

Truebil raises $3m from Chinese VC Shunwei Capital

Truebil, an online marketplace to buy and sell second-hand cars, has raised $3 million in a follow-on series-A round from Chinese venture capital firm Shunwei Capital.

Earlier in January 2016, the company had raised $5.5 million in the first tranche of its series-A round from Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures and existing investor Kae Capital.

Founded by Kalwani, Ravi Chirania, Shubh Bansal, Rakesh Raman, Ritesh Pandey, Shanu Vivek and Himanshu Singhal, Truebil is focused on peer-to-peer sales of cars. The platform also offers features like free inspection, valuation, quick sell guarantee, vehicle buying consulting, smooth paper transfer, loan assistance and insurance among others.

Truebil will be using the fresh funding towards skill development and augmenting the technological infrastructure of the company.

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