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The growth of Indian startups raised funding

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The growth of Indian startups raised funding

In recent years, the Indian startup industry has paved new avenues of success. In fact, the year 2017 is seeing a whopping total funding of US$5.2 billion acquired by the Indian startup industry. It is already way ahead than the funds acquired in the year 2016. Here’s a look at few of the such startups which have acquired fresh amount of fundings.

1. Mswipe: It is a Mumbai based startup that works in the field of tackling the transaction issues of retailers as well as customers. With the recent demonetization, the digital transaction has gained momentum. However, there are plenty of small businesses who do not have card swiping machines. This is where Mswipe comes in the scene and helps people with a point-of-sale device. This unique device has the capability of transforming any mobile phone into a card reader. All a merchant is required to do is link up his phone to the device, launch the app and voila! card can be swiped instantly and seamless payments can be done. Mswipe recently acquired a funding of US$31 million in a series D funding round carried by UC-RNT Fund, which happens to be a joint venture amidst University of California and the impeccable business tycoon Ratan Tata’s RNT Associates. The funding round also saw participation from the existing investors of Mswipe which includes names like Matrix Partners India, DSG Consumer and Falcon Edge Capital.

2. Unbxd: It is a Bangalore based startup which makes extensive use of artificial intelligence accompanied with machine learning to help people explore a variety of products and gives them personalized recommendations. This software as a service startup has even expanded its base in US after its huge success in India. It recently acquired a funding of US$12.5 million in a series C funding round carried by Eight Roads Ventures, the exclusive investment portal of Fidelity International. The funding round also witnessed participation from Kris Gopalakrishnan, the co-founder of Infosys along with existing investors Nirvana Ventures, IDG Ventures & Inventus Capital Partners.

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