A list of Indian startups to watch for this week
It’s an eclectic range of rising startups today: from a co-working space to an aggregator of campsites; from a woman’s health tracker to a woman’s fashion portal; from an API tool suite to a portal for small loans.
Bangalore-headquartered Postman which lets developers build, test, and share APIs announced a series A funding round of $7 million from Nexus Venture Partners. It provides free apps for Chrome, Mac, and Windows to build APIs. Its paid product Postman Cloud is a subscription service that provides additional collaboration, testing, and documentation tools. It also provides access to API libraries. Postman has a 15-member team based in Bangalore, Austin, and San Francisco and counts 61 of the Fortune 100 companies among its clients.
Bangalore-based women’s health tracker Maya announced funding from angel investor Rajan Anandan, vice president of Google for Southeast Asia and India. The mobile app was previously known as LoveCycles. It helped women manage their menstrual cycle. Maya is building a virtual assistant to process more data points for predictive health. It claims to have 6.5 million downloads in multiple countries and supports 13 languages. The startup had earlier raised seed funding from Prime Venture Partners.
ShoeKonnect, a B2B marketplace for leather products, has raised an undisclosed amount of funding from the Indian Angel Network (IAN). The Agra-based startup, whose founders have a family-background in footwear manufacturing, aims to make it easy for retailers to source products from manufacturers, reducing logistics hassles and costs. It aims to connect 5,000 footwear businesses, including manufacturers, suppliers, traders, and retailers from India and neighboring countries. “With increasing affluence, domestic demand for footwear is projected to rise at a faster rate,” says lead investor Sahil Kejriwal.
Delhi-based fashion store FabAlley has raised $2 million in a series A funding round led by India Quotient. The private label ecommerce company, which has opened up offline stores as well, will use the funding to expand its online to offline business. Existing investors Indian Angel Network and social entrepreneur Ranjan Sharma participated in the round.
Delhi-based online lending platform for small and medium businesses ZipLoan has raised an undisclosed amount of seed funding led by GrowX Ventures. The startup lends within the range of $3,000 to $15,000 for a period of one to three years. Murugappa Group’s Arun Venkatachalam, former Snapdeal executive Badal Malick, and angel investor Sunil Kalra are among the investors.
Deyor Camps, an aggregator for campsites, has raised $500,000 from a group of investors. It provides outdoor accommodation, including tents, treehouses, and cottages, for adventure travel buffs in 60 locations across India. It runs over 140 camps. It aims to use the funding to enhance the use of tech to book camping trips. It also wants to provide adventure activities as value-added services.
Co-working space Innov8 has raised an undisclosed amount of funding from former Flipkart chief product officer Punit Soni and 20 other investors. Innov8 is among three Indian startups in Y Combinator’s 2016 summer batch, along with Meesho and JustRide. Ex-Googler Soni had joined Flipkart with much fanfare but left within a year.
See: This Y Combinator startup makes it easy to sell on Facebook and WhatsApp
USD converted from Indian rupees. $1 = INR 66.69