India Dealbook: Infibeam backs IGPL; Guiddoo, Nagpur Wholesale raise funds

Photo: Reuters

The Indian startup ecosystem looks robust and continues to attract funding from investors. Travel startup Guiddoo, payments firm IGPL, and online marketplace Nagpur Wholesale are among the latest startups to raise funds.

Guiddoo raises $800K in pre-Series A

Guiddoo, a one-stop shop for in-destination experiences, had secured $800,000 (about Rs 6 crore) in a pre-Series A funding round held in July this year, led by global investors including Rennie Ratadia (Singapore), Stephen Dmello (Dubai) and Angshuman Sarkar (India), it announced on Monday.

The funding will be used by the startup to expand operations, increase destination reach, product portfolio and to further develop its technology platform. Guiddoo will further strengthen its portfolio by adding new destinations under customised packages offering and will beef up teams to manage increased operations in India and overseas. The company aims to commence China operations by February next year.

Incepted in 2013, Guiddoo offers an array of services like guided tours and activities, dining, entertainment and shopping as add-ons across 11 international destinations, and through 4000+ travel agents spread across the country.

Infibeam invests in IGPL

Infibeam Avenues Ltd, India’s first listed ecommerce entity, on Monday announced that it has made a strategic investment in Mumbai-based Instant Global Paytech Private Ltd (IGPL).

The company has invested Rs 6 crore for acquisition of 14,400 equity shares in IGPL, it said in a BSE announcement.

Founded in April this year by Vivek Patel and Daykin Creado, IGPL enables merchants and retailers to offer digital solutions to the largely cash transacting customers. The startup largely caters to tier-II and tier-III markets and plans to further penetrate these markets as cash transactions in these markets are relatively higher.

Nagpur Wholesale raises seed round

Online marketplace Nagpur Wholesale has raised Rs 1 crore ($143,000) in a seed round of funding from Omphalos Ventures India LLP, TechCircle reported.

The startup, operated by Qualipros Technologies Pvt. Ltd, will use the capital to hire personnel in various departments, the report added.

Established in 2016, Nagpur Wholesale currently sells items ranging from groceries and vegetables to furniture and home appliances in Nagpur, Maharashtra. It plans to expand services to Indore in Madhya Pradesh and Raipur in Chhattisgarh going forward.

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