India Dealbook: Venuelook raises pre-Series A; New Street Tech bags $2m

Bitcoins sit among twisted copper wiring inside a communications room at an office in this arranged photograph in London, U.K., on Tuesday, Sept. 5, 2017. Photographer: Chris Ratcliffe/Bloomberg

Indian startup Venuelook has raised an undisclosed amount in pre-Series A funding while New Street Technologies has raised $2 million in fresh funding led by impact investment firm Unitus Ventures.

Venuelook raises pre-series A

Venuelook, an online-to-offline (O2O) platform and marketplace for venue aggregation, recommendation and booking,  has raised an undisclosed amount in a pre-Series A funding round from marquee angel investors, it said in a statement.

Entrepreneurs including Srikant Sastri (co-founder, Crayon Data), Shailesh Rao (senior advisor – TPG; McKinsey & Co; board member – JLL), VP Rajesh (managing partner – Banyan Capital Advisors LLP) and Vishal Sampat (founder of Convonix) also participated in the round.

VenueLook founder Ruchi Garg said, “Venuelook has over 15,000 venues already listed, making us the biggest marketplace of event spaces in India. We plan to use the funds from the current round to replicate our success in Delhi-NCR to other major cities of the country. We have already put in place a team for Mumbai and are in the process of expanding to 16 other cities.”

New Street Technologies bags $2m

Bengaluru-based blockchain startup New Street Technologies has raised $2 million in fresh funding led by impact investment firm Unitus Ventures, per a statement.

Others who participated in the round included Mohit Davar, chairman of trade body International Association of Money Transfer Networks, and other business leaders in the financial services sector. Launched in August 2017 by Sajeev Vishwanathan and Mohit Davar, New Street plans to use the funds to expand operations in India and the Middle East, besides opening up in Southeast Asian markets.

Its flagship platform, MIFIX, connects banks, business correspondents (BCs), and cash outlets to originate and manage credit through integration with existing systems and processes.

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