India Dealbook: Wandertrails, 1Crowd, Mind Your Fleet raise funding

In multiple startup funding deals in India, Wandertrails, Zeve Capsol and Mind Your Fleet have raised funding.

Wandertrails gets $1m seed funding from UK’s Earlsfield Capital

Travel startup Wandertrails has raised $1 million seed funding from UK-based Earlsfield Capital, a venture capital firm based in UK.

The funding will be utilised for expanding its operations across India and build products, the company said in a statement.

Founded by Hari Gangadharan Nair, Pranav Kumar Suresh, Sruti Ramesh Chander, Vishnu Menon K, and Narayana Menon K in July 2016, Wandertrails enables on-demand booking of experiences indigenous to a particular location as well as related experiential accommodation. The Bangalore-based company claims to host more than 5,000 experiential stays and immersive activities in 65 destinations across 12 states currently.Z

Ganesh Natarajan invests in 1Crowd platform

Zeve Capsol, which is behind 1Crowd platform, has secured an undisclosed amount of funding from Ganesh Natarajan, chairman of 5F World.

As part of the deal, Natarajan will join the board of Zeve Capsol, which is working to create an ecosystem for startups and investors, The Economic Times reported.

“It is a substantial investment, considering it’s going towards the ecosystem and not a specific company and it’s the largest investment I’ve ever made,” he said in the article.

1Crowd, started in 2015, currently has over 500 members and has invested in about 10 companies.

Fleet management co Mind Your Fleet receives bridge round

SaaS-based Mind Your Fleet, an end-to-end enterprise tool which helps car rental companies to promote, manage and distribute their business online, has received an undisclosed amount in a bridge round from a consortium of angel investors.

According to a statement, Japan Vyas, co-founder and managing partner of Sixth Sense Ventures and angel investor Tarun Adlakha led the bridge round while some unnamed angel investors also participated.

“Traditional car rental companies are struggling to run their businesses, ever since Uber and Ola have entered the Indian market. But the majority of their concerns lie elsewhere. At any given time, a car rental company utilises only a fraction of their fleet. This, in turn, leads to wastage of money and huge operational challenges,” said Malvinder Singh Rikhy, co-founder of Mind Your Fleet in the statement.

Mind Your Fleet will utilise the proceeds for product development, sales and marketing. Last April, the company had raised an angel funding.

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