India Dealbook: Moglix raises $1.5m from Accel, LiftO gets angel funding

Moglix homepage

In India, Moglix, a New Delhi-based marketplace for industrial tools, has raised $1.5 million in seed funding in a round led by Accel Partners and Jungle Ventures while the Mumbai-based LiftO, a ride-sharing service, has secured Rs 85 lakh ($130,000) in angel funding.

Moglix raises $1.5 million from Accel, Jungle

The two-month old startup has raised $1.5 million in seed funding in a round led by Accel Partners and Jungle Ventures, according to this report.

Moglix is the latest Internet-led company to have raised funding amidst a deluge of deals in the sector for consumer-facing startups.

Rahul Garg, a former head of ads and strategy at Google Asia-Pacific, founded the firm in August. It wants to become a destination for all industrial tools used by businesses in sectors such as construction and plumbing, and for consumers for use in their homes.

LiftO raises angel funding

Ride-sharing app LiftO has raised $130,000 in angel funding to expand to more cities and increase its user base.

The app, which began operations in September, was founded by Vikesh Agrawal.

Investors in this round include Rajesh Bhatia, promoter of Tree House, Dheeraj Mehta, a fund manager with Singapore’s sovereign fund Temasek, Amith Aggarwal, founder of Staragri Warehousing, and the promoters of Om Logistics.

Users of LifeO can split costs for rides, on cabs and autorickshaws.

Also read: 

Indian online marketplace ShopClues will fund merchants to come onboard its platform

AVG-backed marketplace aggregator iprice signs up 100 merchants in 7 Asian markets

Ride sharing app BlaBlaCar raises $200m from Insight Venture Partner, Lead Edge Capital & Vostok New Ventures

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.