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
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.