Startup Funding Alert: 1st October 2019

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Jaipur-based MEngage raises funding from singer Sukhbir in an extended seed round

MEngage Foundes -Pulkit Raturi and Manmohan Yadav
MEngage Founders -Pulkit Raturi and Manmohan Yadav

Jaipur-based MEngage has raised $100,000 funding in an extended seed round from Bollywood singer Sukhbir and other angels. The platform builds customized engagement apps for doctors on both Android and iOS platforms. The series also saw participation from Keshav Sharma, CEO at Metacube and Nikhil Chaudhary & Dipesh Singhal, founders at Buren. 

The startup works as an enterprise OPD solution for patients and doctors. The firm was co-founded by Sanjay Yadav and Manmohan Yadav in 2017 when it was hived off from 100 Co-Founders Lab. The firm said that it is a combination of Smart OPD, prescription, pharmacy, lab, and patient engagement. The firm plans to use the funding for the rest of the pieces of Smart Pharmacy and Smart Labs automation. In the previous year, MEngage has grown 7 to 8 times in terms of cumulative patient visits and will reach a 10 lakh figure by October-November.

 

LoanTap raises $12 million in Series B round led by Avaana Capital

Digital lending platform LoanTap has raised $12 million in a Series B financing round led by Avaana Capital and existing investors like 3one4 Capital, India Quotient, Shunwei Capital, and Kae Capital. Satyam Kumar and Vikas Kumar founded the Pune-based startup in May 2016. The firm offers customized personal loans like EMI-free loans, holiday loans, rental deposit loans,and other differentiated offerings to white-collared salaried professionals. LoanTap claims to be one of the few fintech startups that became profitable within two years of its operations. 

 

KhataBook raises $25 million from GGV Capital, among others

Bengaluru-based KhataBook has raised $25 million from GGV Capital, Partners of DST Global, Sequoia India, Tencent, and others. Other prominent investors to participate in the funding round were Kunal Shah, Founder at Cred, Kunal Bahl, Co-founder at Snapdeal, Jitendra Gupta, Head at LazyPay, and Anand Chandrasekharan, ex-director of platforms and product partnerships at Facebook. The firm is a mobile app that enables Small to Medium Enterprises (SMEs) to track and record business transactions. The startup has raised total funding of $29 million so far. 

Ravish Naresh, CEO & co-founder at KhataBook, said that our nation is presently at an inflection point with drastically low data costs and strong smartphone adoption. In August, the company recorded more than $3 billion worth of transactions on its platform.

 

Sleepycat raises Rs 11 crore in Series A round from DSG Consumer Partners & Sharrp Ventures

Sleepycat founder- Kabir Siddiq
Sleepycat founder- Kabir Siddiq

Online mattress and sleep-solutions startup, Sleepycat has raised Rs 11 crore in its series A round led by DSG Consumer Partners, Sharrp Ventures, Gemba Capital and other angel investors. The Mumbai-based firm plans to invest the raised capital towards developing its management team and building an online presence of Sleepycat through new product launches, channel partnerships. Currently, the company sells 1,500 mattresses per month. Hariharan Premkumar (DSG Consumer Partners) and Chaitanya Deshpande (Sharrp Ventures) will join Sleepycat’s board of directors as a part of the deal. 

Kabir Siddiq founded the company in August 2017. The firm is on a mission to intrude the sleep category and has claimed to be the first firm in India to offer doorstep delivery of a ‘mattress-in-a-box,’ a product where the mattress is vacuum pressed, and dispensed in compressed boxes.

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A passionate writer with bachelor’s in the field of English & Journalism. Other than being a bibliophile, some of her hobbies are travelling, photography and poetry.

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