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.