Startups raise $38 Million in first 10 days of 2016

startupnw1In the first 10 days of 2016, more than $38 million were invested in 29 startups, with one series B and three series A fundraisers. The rest of the startups secured the investments in pre-series A deals. Notably, Delhi-NCR accounted for the maximum number of deals. Freshmenu, a food delivery startup, raised $16.5 million in series B funding.

  • Bangalore based Fresh-menu an online first restaurant, has raised Rs 110 crore (~$16.5M) in a round of funding led by Zodius Capital, and participation from existing investor Lightspeed Venture Partners, reports ET. The startup will use the funds for expanding its operations, hiring and brand building. It had previously raised $5 million from Lightspeed.

Founded by Rashmi Daga in 2014, FreshMenu delivers ready to eat meal plates in Bangalore, including mains, sides/salads and desserts. The company owns kitchens and employs delivery boys, unlike competitors including Zomato, Foodpanda, TinyOwl, Swiggy etc., which aggregate eatries. Other startups that sell self-branded food include iTiffin, Box8, Faasos and Frsh.

The food delivery segment has been volatile in recent times with various startups raising funding while others got acquired, shut shop or laid off employees.

  • TORONTO—Hubba Inc., an e-commerce startup, is on track to raise $45 million in new venture-capital financing as it looks to expand the use of its consumer product.

Working for a start-up is attractive; it is true that joining a start-up can be a fun, smart and even life changing move. Many new business offer a unique opportunity to learn how to build a organization from the ground position. In the world of technology, the word ‘start-up’ goes beyond a company just getting off the ground. Start-up also means that is technologically oriented and has a high growth potential. Start-up have some unique struggles, especially in regard to financing.

  • Melorra, an online jewellery brand, has raised $5 million from venture capital firm Light box Ventures, a top company executive said on Friday.

Melorra, run by August Jewellery Pvt. Ltd, is currently available only on iOS and is expected to roll out an Android app by the end of this month. The Bengaluru-based start-up, which managed to raise its first round of capital in stealth mode, is expected to launch its online portal by March.

so this year we will see a much more startups from small companies as well as some old companies by merging them into new ones, 2016 will be a exciting year for startup.


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