Practo raises $55 million from China’s Tencent, and existing investors; On-demand auto maintenance startup Hoopy secures angel funding; BYJU’s acquires Bengaluru-based Vidyartha & Much More

Source - http://images.financialexpress.com/
Source – http://images.financialexpress.com/

Flipkart Funds Parenting Network Startup, Tinystep With USD 2Mn
Tinystep, a parenting social network has received funding from e-commerce giant, Flipkart. Founded in 2015, Tinystep is a Bengaluru-based start-up that works in the sphere of pregnancy and parenting, and had previously raised seed funding from Flipkart. With the latest fund infusion the company aims to work on better user experience and expand on their services. Flipkart made the investment in an effort to boost sales of baby care products on its platform, tapping the estimated $50 billion baby and mother car market in India. Moreover, the e-commerce company is looking at building a network of influencers.

Practo raises $55 million from China’s Tencent, and existing investors
Healthcare platform Practo has raised $55 million (about Rs 366 crore) in its series-D funding round, which was led by Chinese internet conglomerate Tencent. The deal values the Bengaluru-based venture at around $620 million. Existing investors Sequoia Capital, Matrix Partners, Google Capital, Sofina and Altimeter Capital also participated in the round. The company plans to use these funds to further integrate its platform and for global expansion. The total funds raised by Practo now stands at $179 million.

Ready-to-cook food firm ID Fresh Foods, gets $25m from Premji
Wipro chairman Azim Premji’s family office, PremjiInvest has reportedly invested $25 Mn in Bengaluru-based food company, ID Fresh Foods. With the investment, Premji Invest has acquired a 25% stake in the company at the latter’s valuation of $100 Mn. MAPE Advisory Group is the advisor to the deal. Earlier in 2015, Helion Ventures has also invested Rs 35 crore in the company picking up the same stake. With the new round of funding, ID Fresh Foods is looking to grow its national footprint and expand its product portfolio. Started in 2006 with a small store selling idly and dosa batter, it has put home-made meals on dining tables across Bengaluru, Mumbai, Chennai, Hyderabad, Pune, Mysore and Dubai.

Kratikal Tech raises $500,000 in seed funding
Delhi-based Kratikal, an end-to-end cyber security solution provider, has raised an undisclosed amount of Seed funding from Amajit Gupta (former director of Microsoft India) along with Praveen Dubey (co-founder Mutual PR) and J.P. Bhatt. It was was founded in 2013 by Pavan Kushwaha, Paratosh Bansal, Dip Jung Thapa, Prashant Pandey and Ankit Singh. With a team of 15 employees, Kratikal serves more than 30 clients across corporate houses, police departments, law enforcement agencies and individuals in India, US, Australia, New Zealand and South Africa.

On-demand auto maintenance startup Hoopy secures angel funding
Vehicle maintenance marketplace Nephonine Solutions Pvt. Ltd, which offers its services under the brand Hoopy has raised about Rs 3.4 crore ($500,000) to support its expansion plans from a clutch of wealthy individuals. The startup was launched in April 2016 by Vedic Choubey and Shashank Dubey. Choubey, an alumnus of IIT Kharagpur, earlier worked with auto parts maker Bosch. Dubey, an alumnus of Balaji Institute of International Business in Pune, worked with Idea Cellular Ltd and Pantaloon Retail in the past.

Dubai-based angel investors back truck aggregator Ezytruk
Bangalore-based logistics and truck aggregator Ezytruk Solutions Pvt Ltd has raised $147,000 (Rs 1 crore) in angel investment from Dubai-based investors Ajith Nair and Anish K. The startup will use the fresh capital to establish its commercial operations and invest in marketing and Internet of Things (IoT) development. The startup is a data driven aggregation platform for the goods transportation market. It connects carriers, shippers and original equipment manufacturers (OEMs) in near real time enabling on-demand transportation for all. The company is currently present in Bangalore, but plans to expand to other South Indian cities which have truck terminals.

Online First Tea Brand Vahdam Teas Raises $650K Funding From Mumbai Angels Network, Others
Vahdam Teas Pvt Ltd, a Delhi-based tea e-tailer, said on Wednesday it has raised funding from a clutch of angel investors to implement its expansion plans. The firm has raised Rs 4.4 crore ($650,000) from early-stage investment firm Fireside Ventures’ Kanwaljit Singh, Mumbai Angels and Singapore Angel Network. The company will deploy the raised funds towards marketing, product development, and opening a warehouse in the US. The Delhi-based company procures tea directly from plantations within 24-72 hours of production and delivers it to international markets within 3-12 days. The two-year old company which claims to have shipped over 15,000 kg of tea over the past year is looking to reach $3-4 million in revenues in 10 months.

BYJU’s acquires Bengaluru-based Vidyartha
Online education startup BYJU’s today said it has acquired Bengaluru-based Vidyartha, a data-driven platform offering customised learning guidance to students. Owned and operated by SPAN Thoughtworks Private Limited, the startup was founded by Mohan and Navin Balan in 2011. Mohan worked with mid-market investment bank Veda Corporate Advisors and Balan was associated with software services and solutions firm ITTI before launching Vidyartha. BYJU’s offers learning programs for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT.