Our latest funding roundup consists entirely of seed funding activity, and includes winners of the The Ten Minute Million event organised by the Entrepreneurship Cell (eCell) of IIT Bombay.
Specialty coffee retailer Blue Tokai has raised an undisclosed amount in seed financing led by Snow Leopard Ventures with participation from Bold Ventures. The three-year-old Gurgaon-based startup provides home delivery services for online orders, and reportedly plans to use the funding to set up more roasteries and build a “sustainable technological interface”.
Flipkart has invested around $100 million (roughly Rs. 666 crores) in its logistics arm, Ekart. The investment was reportedly made through a Singapore-based group firm, Klick2shop Logistics Services.
Smartphone app Strike, which lets users research and connect with people on the Gmail app based on the user’s contacts and degrees of separation, has received Rs. 15 lakhs in funding from angel investors at the Entrepreneurship Summit 2016 event. Founded in 2014 by Akshay Katyal and Aishwarya Jain, the Bengaluru-based startup offers an app on Google Play, which currently has a 4.6 star rating.
Chennai-based marketing automation tool MaaxMarket has secured Rs. 15 lakhs in funding at the Entrepreneurship Summit. Founded in 2015 by Lenin Srinivasan, the SaaS product uses machine learning and predictive analytics to drive content, social media, and email marketing to customers based on their online behaviour. Monthly pricing ranges from $10 a month (roughly Rs. 660) to $499 (roughly Rs. 33,900) a month.
Gurgaon-based Gamooz, a developer of augmented reality apps for publishers, manufacturers, and events, has secured Rs. 15 lakhs at Entrepreneurship Summit 2016. The startup showcased its augmented reality mobile app for text books and children’s books at the event.
Mumbai-based SoundSurround, which has built a system that connects up to thousands of wearable speakers to give a highly immersive concert experience has raised Rs. 15 lakhs in funding at The Ten Minute Million event organised by the Entrepreneurship Cell of IIT Bombay.