Bengaluru-based O2O grocery company Avenue11 has raised $3.59 million (Rs.26 crore) from Brand Capital, the strategic investment arm of the Times Group. The company will use the funding for geographical expansion of the business and to increase its brand presence.
Gurugram-based digital news and media platform NewsBytes has raised $1 million in a Pre-Series A funding round. The investment was led by Germany-based MM Inno GmbH, an investment company of Mueller Medien, along with the US-based Powerhouse Ventures and other investors. As a part of this deal, Peter Kabel, the Founding Partner of AECAL.de would also join the board of the startup. The funds will be utilised to expand technology team, support growing footprint, establish the Hindi and other vernacular desks, and venture into video based content.
Cyclop MedTech, a startup working on clinical and wearable diagnostic and rehab products for neuro-vestibular disorders using eye-tracking technology, has raised $1 million from Bengaluru-based marquee venture capital (VC) firm Unitus Ventures. The Bengaluru-based startup plans to use the recently raised funds to augment its role as a leader in the neuro-vestibular diagnostic space and rapidly scale up its installations base in India and the rest of Asia.
Milk and grocery delivery startup DailyNinja has secured an undisclosed amount of financing from Matrix Partners India, with participation from existing investors Sequoia India and Saama Capital. This comes just a few months after the company raised $3 million in a round led by Saama Capital. The newly-secured money will be used to accelerate growth, expand footprint and hire talent.
New Delhi-based microfinance company Satya MicroCapital has raised Rs.40 crore ($5.5 million) from responsAbility Investments AG and Microfinance Enhancement Facility S.A. (MEF). The company plans to use the funds for on-lending to Indian micro, small and medium enterprises.
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