Daily Funding Roundup


Daily funding roundup - October 19, 2015

Citrus Payment raised $25M; iControl Universal closed $20M growth capital; Cube26 secured $7.7M

Innovation series by Mitos Suson
October 19, 2015
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  • Delhi-based online holiday destination discovery platform Holidify has raised $100,000 (about Rs 65 lakh) in an angel funding round led by the promoter family of Aarti Industries, a chemicals company whose promoters have invested in three other startups. The fundraising, with contribution from entrepreneur Naman Sarawagi among others, is the first round of external funding for the one-year old startup. 

  • Mobile point-of-sale (MPOS) startup SoftPay Mobile has raised $1 million for its series A round, the company announced today. The round was led by Singapore-based venture capital firm Life.Sreda through its InspirAsia fintech accelerator. SoftPay is part of the accelerator’s current cohort of startups. The round was also joined by an undisclosed investor.

  • Hyderabad-based Parampara Capital, which recently launched its first fund Parampara Early Stage Opportunities Fund I has accomplished the initial closure of their SEBI registered AIF Category I fund. With this, the fund has also announced its investment in Mumbai-based S-Cube Futuretech, an engineering automation software provider. The company will utilize the funds for product development and strengthening the company’s presence in Asian countries.

  • San Francisco-based Imply, a solutions provider for Druid and interactive analytics, has launched with $2 million in seed funding, the company announced in a blog post on its site. The investor was Khosla Ventures. In addition to the funding, Ari Zilka, former CTO of Hortonworks, has been added to Imply’s board.

  • StreetHub, a network of independent retailers, has announced a $2.6 million (£1.7 million) funding round, led by Octopus Ventures. The group also received investments from Index Ventures, which has stakes in online retailers Asos, Farfetch and Net-a-Porter, among others, as well as a number of other angel investors. The new funding round coincides with the launch of StreetHub’s new website, Trouva, which brings together a selection of boutiques within the group’s network. The online venture will provide world-wide shipping, with click and collect and one hour Shutl delivery available in selected postcodes.

  • Naia Limited, an international drug development company with Subsidiaries developing innovative, clinical-stage compounds for short bowel syndrome (SBS), non-alcoholic steatohepatitis (NASH) and Type 2 diabetes, today announced it has raised $5.3 million in a Series A financing led by existing investor and strategic partner, Pharco Pharmaceuticals. The financing also included participation from several veteran healthcare investors, including members of the management team of The Trout Group, a leading investor relations firm in the life sciences industry.  Naia will use the proceeds to continue to invest in its Subsidiaries and their diverse and innovative portfolio of therapeutic approaches, including a program focused on the treatment of SBS, an orphan indication.

  • Indianapolis-based software company TinderBox Inc. has landed $7 million in equity capital, the company announced Monday, which it plans to use to enhance its product and grow its work force. The company, which is headquartered at 54 Monument Circle, sells cloud-based sales-productivity software. Coastal venture capital firm Greycroft Partners, Carmel-based Allos Ventures and Indianapolis-based High Alpha led the funding round.

  • Cube26 Software Pvt. Ltd, a New Delhi-based company that makes gesture technology for smartphone manufacturers, on Sunday said it raised Rs.50 crore ($7.7 million) seed funding in a round led by venture capital firm Tiger Global Management Llc with participation from Flipkart Ltd, to double its team strength and set up operations in Bengaluru. The 65-staff company, which was bootstrapped till now, plans to open an office in Bengaluru to focus on data science and hire about 100 more people in 2016.

  • LetsVenture, a Bangalore, India-based online funding platform for startups, secured its Series A funding round. The round, whose amount was not disclosed, was led by Accel Partners and Anupam Mittal. According to the Economic Times, Times Internet, Singapore Angels, IDG Ventures India, Rishad Premji, Mohandas Pai, Girish Mathrubootham, Rohit Bansal Nandan Nilekani, and Kunal Bahl, among others, also participated in the funding. The company intends to use the funds to expand operations and attract global investors.

  • iControl Universal Collaboration Solutions, a Burtonsville, MD-based provider of process improvement, payment settlement, and collaborative business intelligence solutions for the food, drug and convenience value chain, closed a $20 million growth capital facilityGoldman Sachs Specialty Lending Group provided the financing. The company will use the proceeds to bolster its balance sheet and finance its growth.

  • Payment solutions company Citrus Payment Solutions has raised about $25 million (about Rs 162 crore) from a consortium of new and existing investors, the latest transaction in the country's payments sector, which continues to see risk capital queue up to participate in the red-hot segment. Sequoia Capital, an existing backer of Citrus Payment, and new investor, mid-to-growth stage private equity firm, Ascent Capital, have led the Series C round of funding in the Mumbai-based company, with other existing investors , eContext Asia and Beenos Asia, also participating in the equity financing round, according to two sources with direct knowledge of the developments.

  • Ensighten, a global omni-channel data and tag management provider, today announced that it has raised $53 million in debt and equity financing to further its mission of helping global brands simplify their customer data operations and drive more intelligent interactions based on a single view of the customer. Existing investors Insight Venture Partners, Lead Edge Capital, Mack Capital and Volition Capital led the new funding round, with participation from Silicon Valley Bank.

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