India Dealbook: InCred, Urban Ladder, YourOwnROOM, PiggyRide in funding news

Urban Ladder. Photo: Mint

A slew of startups across sectors made headlines for securing funding, be it debt or equity. These include names such as InCred (an NBFC headquartered in Mumbai), Urban Ladder (online furniture retailer), YourOwnRoom (residential proptech firm) and PiggyRide (transport service for kids).

InCred secures $4.4m in debt financing

Former Deutsche Bank senior executive Bhupinder Singh’s NBFC InCred has raised as much as Rs 31.4 crore (around $4.49 million) as debt, according to a report by Entrackr.

This marks the second round of debt financing for the Mumbai-based firm that provides loans (home, education, personal and two-wheelers) to businesses and consumers.

The firm earlier garnered as much as Rs 15 crore in debt funding.

Besides, in April, InCred made headlines for raising Rs 600 crore in a funding round led by Dutch development finance institution FMO.

Urban Ladder raises $2.1m funding from existing backers

Online furniture startup Urban Ladder has raised as much as Rs 14.9 crore from existing investors such as SAIF Partners, Steadview Capital and Sequoia Capital.

The development comes at a time when the company has made headlines for not so good reasons. While Vani Kola, managing director of early-stage venture capital firm Kalaari Capital resigned from the board of directors of the company recently, one of its co-founders too made an exit.

Urban Ladder last raised Rs 77.4 crore in January last year, a transaction that had pegged its valuation at Rs 1,268.8 crore.

The funding will help the company ramp up its operations at a time when it is looking to open new brick & mortar stores. It recently opened a 4,000 sq ft store in Pune. Besides that, it has a few stores across cities such as Chennai, Bengaluru and Delhi.

Proptech startup YourOwnRoom secures $1.3m

Residential proptech startup YourOwnROOM has secured $1.3 million in a seed funding round to spruce up its co-living business, according to an announcement.

Investors who participated in the funding round include US-based Lotus Capital; Ravi Chaturvedi, former President of P&G; Narasimha Murthy, Co-founder of a US-based healthtech company; besides a host of angel investors.

Established in 2016, YourOwnROOM currently manages as many as 1,500 beds across Bengaluru and Pune.

Since its inception, the startup has acquired residential assets and run them using tech to cater to consumers.

Transport service for kids PiggyRide raises seed capital

Transport platform for children PiggyRide has raised as much as Rs 7.5 crore in seed funding led by JAFCO Investment Asia Pacific, according to media reports.

The startup, that focuses on children in the age group of 2-18, has been operational for over eight months now in its headquarters Bengaluru.

The corpus raised will help PiggyRide ramp up its business and launch in newer cities. Going forward, by the end of this month, it is looking to roll out its services in Delhi-NCR.

Founded by IITians Manish Tewari and Rohan Kaushal, the startup currently caters to children from over 50 academies, schools, day-care centres, and coaching institutes.

 

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.