India Deal Monitor: Sequoia leads $6m funding in Shipsy and more updates

Llama Logisol, which operates logistics focused software-as-a-service (SaaS) platform Shipsy, has raised about $6 million in a funding round co-led by Sequoia Capital India’s Surge and existing investor Info Edge, per an announcement.

Shipsy is a SaaS (software as a service) based firm that helps shippers reduce freight costs by automating and digitising freight negotiations, reducing incidental charges, significantly improving shipping turnaround time and minimising working capital loss for shippers through advanced machine learning models.

“The money raised will help fuel our growth and enable us to become a market leader, allowing us to continue our aggressive geographical expansion, besides investing in product innovation to keep us ahead of the curve. While we have run our venture profitably, it was critical for us to partner with like-minded global investors in our journey as we venture into larger markets,” Soham Chokshi, co-founder and CEO of Shipsy said.

Shipsy claimed that it revenue has grown over 3 fold in the last year and a half. The company has substantially increased its customer base by over 2x just over the lockdown period. Its customers are spread across Dubai, Saudi Arabia, North Africa, Singapore and Malaysia.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from November 22-26, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
ShipsyGurugram6 millionSeries ASequoia Capital India's Surge, Info Edge-Logistics/DistributionSaaS
CredgenicsDelhi3.5 millionPre-Series AAccel Partners, DMI Alternatives fundTitan CapitalFinancial ServicesFinTech
PlumMumbai15 millionSeries BFaering Capital, Trifecta Capital, Unilever Ventures-Consumer ProductsBeauty & Hygiene
NykaaMumbai--Fidelity Management & Research Company-Consumer ProductsE-commerce
Yellow ClassGurugram1.3 millionPre-Series AIndia QuotientKunal Bahl, Rohit Bansal, Alok Mittal, Maninder Gulati, Abhinav Sinha, Vivekananda Hallekere, Alvin Tse, Dhruv Agarwala, Pallav Pandey, Harpreet Singh Grover, Vibhore Goyal Education/TrainingEdTech
UnacademyBengaluru--Tiger Global Management, Dragoneer Investment Group-Education/TrainingEdTech
Grip InvestGurugram--Anicut Angel FundAnupam Mittal, Sunjay Kapur, Maninder GulatiFinancial ServicesFinTech
Country DelightGurugram25 millionSeries CElevation CapitalIIFL AMC, Matrix Partners India, Orios Venture PartnersConsumer ProductsE-commerce
Cars24Gurugram200 millionSeries EDST GlobalExor Seeds, Unbound, Moore Strategic VenturesAutomobiles Other Vehicles & PartsE-commerce
STAGEIndore1.15 million-Venture CatalystsSushma Kaushik, Sachin Bhatia, Rohit Chanana, Janarthan Balasubrramanian, Ashish Tulsian, Vishal Maheshwari, Hetal Sonpal, Piyush Goel, Sawan Laddha, Nandi Mehta, Abhishek ShahInternet-
CityfloMumbai8 millionSeries ALightbox VenturesIndia QuotientTransportation ServicesRidesharing/Transport
CashfreeBengaluru35.3 millionSeries BApis Growth Fund IIY CombinatorFinancial ServicesFinTech
GeoIQBengaluru337940Seed9UnicornsInflection Point (IP) Ventures, Kayenne, LetsVentureInformation ServicesBig Data
EnsureditGurugram338100Pre-Series AVenture Catalysts-InsuranceInsuretech
LightSpeedAI LabsBengaluru--YourNest, growX ventures-Hardware-
Purplle.comMumbai1 million-Spring Marketing Capital-RetailE-commerce
Power GummiesDelhi-BridgeAgility Venture Partners, DSG Consumer Fund, Vcats-Consumer ProductsFitness & Wellness
InntotKochi-BridgeUnicorn India Ventures-Consumer ElectronicsDigital Media
SignalXHyderabad810356Seed3Lines Venture Capital9Unicorns, Hyderabad AngelsIT Security/CybersecurityAI and Machine Learning
LancifyBengaluru300000Angel-Techstars, Under 25, Vir Kashyap, Hari TN, Brennan Loh, Krish Ramachandran, Anil Advani, Ravi and Deepa JoshiEducation/TrainingEdTech
NewsReachAhemdabad150000SeedJITO Angel NetworkOasis, Jinesh Shah, Sharan Aggarwal, Bipin Shah, Pranav Khanna, Siddharth Ladsariya, V C Karthik, Anup Mehta, Taha NabeeMediaDigital Media
ERPNextMumbai1.35 millionRainmatter Capital-SoftwareSaaS
Astrogate LabsBengaluru--Speciale Invest-AerospaceSpaceTech
AlgoBullsMumbai--Venture Catalysts-Financial ServicesSaaS
AppsFlyerSan Francisco--Salesforce Ventures-Marketing/AdvertisingSaaS

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.