India Funding Roundup: A Smart Wheelchair Maker, Proximity Marketing App, and More

Our latest funding roundup compiles seed and early stage investments in Indian startups engaged in e-commerce, social discovery, mobile payments, IoT-enabled hardware, and EdTech.

Online office products store, Aahaa stores, has raised about $1 million (roughly Rs. 6.7 crores) in pre-Series A funding from a group of investors led by Gurgaon-based YourNest Angel Fund. Launched in 2013, The startup provides a one-stop solution for office management, ranging from cafeteria supplies, specialised stationery, customised trophies, worker safety products, cash counting machines and ATM displays for banks. The funding will be used to fuel its market expansion and enhance its technology and infrastructure, it said in an emailed statement.

Delhi-based Giant Tech Labs, makers of social discovery and proximity marketing app Shouut said that it has raised 500,000 (roughly Rs. 3.3 crores) in funding from an undisclosed high net-worth individual angel investor based in India. Shouut enables discovery of places, events and offers around the users’ location, and enables businesses to offer deals to users around their store location. The company currently offers an app for Android on Google Play, and that it will use the funding round to fuel product development and user acquisition.

Mumbai-based FTCash, a mobile payments platform for micro merchants in India has raised Rs. 1 crores in pre-series A funding from the Ivycamp platform, run by IvyCap Ventures. Founded in late 2014, the enables cashless transactions and allows the merchants and customers to use multiple payment options, such as wallets, cards, and net banking. The funds will be used for customer and merchant acquisition and product development, the startup said. IvyCap Ventures has invested in Vinculum,, Bluestone, Clovia, and Taskbob, among others.

Arcatron Mobility
Arcatron Mobility, winner of the best startup award at the recently conducted Surge Conference in Bengaluru has reportedly secured an undisclosed amount in seed funding. Founded by NIT Calicut alumni in 2012, the Pune-based startup offers a smartphone-operated wheelchair called the Arcatron SAS100, which can be controlled through an Android app, and enable paraplegics and differently-abled to user a shower or commode without any assistance.

Imarticus Learning
EdTech startup Imarticus, which provides training programs and courses for investment banking products has reportedly raised raised $1 million (roughly Rs. 6.7 crores) from VC fund Blinc Advisors and other angel investors. Founded by Nikhil Barshikar and Sonya Hooja in 2012, the Mumbai-based company plans to utilise the capital to expand its product portfolio and its e-learning business in the country.

Gurgaon-based Zappka, a mobile platform for mobile app discovery has reportedly raised $100,000 (roughly Rs. 67 lakhs) in angel funding. The startup currently provides an app for Android users on Google Play, and plans to use the funding to improve the user experience and technology.


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