#StartupWrap: What Did You Miss about Indian Start-ups this Week?From decoding India's newest obsession to a start-up getting the backing of the Gates, here's all you need to know
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Online Gaming: India's New Obsession
The online gaming industry has changed the landscape of the gaming market in India. This week saw India getting its third unicorn and a first in the online gaming sector. Dream11 joined the Indian billion-dollar valuation club with an investment from Steadview Capital. The sector is hot not just for funding but also for other start-ups. After Paytm, Bengaluru-based start-up PhonePe has partnered with online gaming platform Mobile Premier League(MPL). start-ups are foraying into the gaming space because they see the potential.
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Mergers, Acquisitions and Partnership
In the acquisitions that happened this week, technology once again grabbed eyeballs. AI Chatbot Company Quinto.ai was acquired by Netcore Solutions through smart deal-making platform, Propeluss. Another start-up gets the backing of the Gates. Healthtech startup Niramai is developing an AI-based computer-aided software for controlling the spread of a tropical skin disease, with the support of the Bill and Melinda Gates Foundation.
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When the "Shark" Comes to India
The original shark is in India. American entrepreneur and reality TV show Shark Tank's investor Kevin Harrington invested an undisclosed amount in Delhi-based retail start-up The New Shop. The New Shop, owned by ProductX Ventures announced their strategic partnership with Harrington. This is Harrington's first investment in the Indian market which, according to him, is a "consumer market he has never been able to conquer."
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资助的新闻
From the funding desk, here are the start-ups that raised funding this week.
Bengaluru-based, consumer loans marketplace Credy raised an undisclosed amount in a Pre-Series A.
的Bengaluru-headquartered e-pharmacy启动,我dlife, raised INR $17 Mn in an equity funding round.
Bengaluru-based financial services startup Setu raised $3.5 Mn in a seed funding round.
One of the biggest rounds of funding was raised by Mumbai-based WizRocket. it raised $26 Mn from Sequoia Capital and Tiger Global Management.
Bengaluru-based social commerce platform GlowRoad raised $10 Mn in a Series B round of funding.
SigTuple raised $16 Mn in its Series C funding round. Binny Bansal, one of the investors will join the board as part of the deal.
Bengaluru-based payment gateway startup Cashfree raised $5.5 Mn.
A start-up that provides software development tools, Kuliza, raised $3 Mn.
