India Deal Monitor: Matrix, Lightspeed lead funding in Dukaan and more updates

Dukaan, an app that allows offline stores to set up an online store, has raised $6 million in a funding round co-led by Matrix Partners India and Lightspeed India Partners.

The startup also saw participation from angel investors including Haresh Chawla (founding CEO Network18, Viacom18), Ryan Hoover (founder, Weekend Fund and Product Hunt), Jitendra Gupta (founder, Jupiter), Shashank Kumar (founder, Razorpay), Sandeep Tandon (founder, Freecharge), Prabhkiran Singh (founder, Bewakoof.com) and Kunal Shah (founder, Cred).

Dukaan will use the funds to expand its geographic footprint and enhance its product suite to help merchants widen their digital presence.

Founded this year by Suumit Shah, Subhash Choudhary, Kaustub Pandey and Anurag Meena, Dukaan helps small retailers to set up an online store within 30 seconds. The platform claims to have enabled 2.7 million merchants across the country to go online.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from October 14-19, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
DukaanBengaluru6 millionSeedMatrix Partners India, Lightspeed India PartnersHaresh Chawla, Ryan Hoover, Jitendra Gupta, Shashank Kumar, Sandeep Tandon, Prabhkiran Singh, Kunal ShahSoftwareE-commerce
Genius Teacher Mumbai2 millionAngelAbhijit Bose, Kunal Shah, Sandeep Tandon, Dhruv Agarwal, Justin Sway, Dan Lapus, Nimish Kampani, Gaurav Gupta, Bikram Bedi, Farooq AdamWhiteboard Capital, VKG Ventures LLPEducation/TrainingEdTech
TringMumbaiEquityALTBalaji-InternetSocial Media
Ultraviolette AutomotiveBengaluru-Series BKumar Vembu, CEO of GoFrugal Technologies-Automobiles Other Vehicles & PartsElectric/Hybrid Vehicles
ZomatoGurugram52 millionSeries JKora Investments-FoodFoodTech
Avataar.meBengaluru7 millionSeries ASequoia Capital IndiaSoftwareAR & VR
Krimanshi FeedsJodhpur682,700 (reported)-Rajasthan Venture Capital Fund-BiotechnologyBiotech

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.