Hipcouch Raises $700k in Angel Funding
Hipcouch,, an online B2B furniture solutions startup founded by Indian School of Business (ISB) alumni Parikshat Hemrajani and Pankaj Poddar has raised around $700,000 in angel funding from a clutch of individuals that includes founders of public limited companies and fund managers. Hipcouch connects designers of customised furniture to established and verified vendors who manufacture the furniture based on an order from the designer. The website acts as an intermediary between designers who can register themselves with the company and the furniture vendors. It has empanelled more than 100 vendors at present and operates only in Mumbai but has plans to expand to other cities including Bangalore, Pune, Delhi/NCR and Chennai and will look to add at least 2000 vendors.
Nexus Venture Leads $5Mn Funding Round in Zolo Stays
Bengaluru-based paying guests service provider Zolo Stays has raised $5 million in Series A funding led by existing investor Nexus Venture Partners. The funding round also includes venture debt from Innoven Capital. Zolo offers branded paying guest accommodation with daily meals, housekeeping, Wi-Fi, through an integrated app based technology platform at locations near large office clusters in tier 1 cities. The startup plans to use the latest capital raised to increase its reach from 5,000 locked-in beds to over 12,000 beds and expand to Chennai and NCR by the end of this year, the company said, in a release.
Wharton India Startup Competition Announces Winners
The 21st Wharton India Economic Forum (WIEF) has announced the winners of its Fourth Wharton India Startup Competition. The finale event was held in Mumbai on January 6, 2017. The total number of applications received were 534. The judges for this year’s finale were Sandeep Singhal, Kartik Srivatsa, Kartik Hosanagar, Bharati Jacob, Rajul Garg, and Tarun Davda. From the top 11 finalists, IoT-based startup Detect Technologies received the “WIEF-SBI Startup Of The Year” award along with $12K cash, while Kanpur-based social enterprise HELPUSGREEN was prized with “WIEF-SBI People’s Choice” award along with $6K cash. Both the startups will also receive three months of mentorship with Innoven and 20 hours of consulting service with Khaitan. The other winners of the competition will receive mentorship with Innoven. The other winners to the event include Karma Healthcare, Nonspec Inc, MyEasyDocs, GreedyGame, CropIn Technology Solutions, Eckovation Solutions and Ftcash.
Jugnoo Forays into Restaurant Food Delivery Business; Launches ‘Menus’
On-demand autorickshaw aggregator Jugnoo has forayed into restaurant food delivery segment, with the launch of ‘Menus’. The company is betting big on its in-house logistics services and will now allow consumers to order food from empanelled restaurants on Menus. Currently geared up to start operations in Noida, Gurugram, Indore, Chandigarh and Jaipur, Jugnoo plans to launch Menus across all Jugnoo locations in India in coming few months. As of now, Jugnoo has tied up with over 200 restaurants which include brands like Super Donut, Burger Hub, Bikanerwala, Sindhi sweets, Burger point, Rolla costa, Copper Chimney, Marky Momos and Dhaba.com etc. Also, it further aims to reach 1000 restaurants in a month.