Our latest funding roundup compiles seed and late stage investments in Indian startups engaged in industrial robotics, fashion e-commerce, customer engagement, online test preparation, and fitness discovery.
Noida-based Momark Services, a mobile app-based customer engagement platform and mobile wallet aggregator, has raised a pre Series-A funding of $600,000 (roughly Rs. 4 crores) led by YourNest Angel Fund. Kolkata-based LNB group also participated in this funding round. MoMark facilitates loyalty and analytics-led engagement programmes for small and medium-sized retailers while enabling merchant discovery for customers. In an emailed statement, Momark said it has a base of over 160 merchants in 58 cities, and has clocked over a million transactions worth Rs. 76.3 crores. The company will utilise the funds to strengthen the technology platform and product offering, increase presence in existing and new markets.
Global Fashion Group (GFG) has reportedly injected $20 million (roughly Rs. 135 crores) into fashion e-commerce player Jabong to keep it afloat for one more year.
Robotics firm Systemantics, which builds industrial robots for the manufacturing sector, has reportedly secured an undisclosed sum of funding from venture capital giant Accel Partners and Infosys co-founder Nandan Nilekani. Prior to this, the robotics firm had raised funding from Blume Ventures in 2013.
Mumbai-based testbook.com, an online test preparation platform for competitive exams, has reportedly raised an undisclosed amount in funding from education content provider S Chand. The funding will use the money raised to expand into new markets, the company said, adding that its mobile app has clocked about 100,000 downloads.
(Also read: 7 Indian EdTech Startups You Should Know About)
Bengaluru-based fitness discovery portal Gympik, which aggregates gyms and trainers, has reportedly raised an undisclosed amount of funding from RoundGlass Partners. The startup reportedly aggregates about 10,000 fitness centres and 6,000 trainers from 20 cities.