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startup-funding (3)
Darwinbox raises $15 million in Series B round, 1Balance raises $2 million, Onco raises $7 million round funding & OfBusiness raises Rs 250 crore.

Hyderabad-based Darwinbox raises $15 million in Series B round led by Sequoia India

HR-tech startup Darwinbox, on Thursday, announced that it had raised $15 million funding in Series B round led by Sequoia India with participation from existing backers like Endiya Partners, Lightspeed India Partners, and 3one4 Capital. The Hyderabad based platform plans to use the freshly made capital to accelerate its growth all across Asia and focus on product innovation. The firm concentrates on all the HR requirements across an employee’s lifecycle. Darwinbox has been identified as one of the most preferred HCM solutions in APAC. The firm has more than 200 clients and over 500,000 employees across 50 countries.

1Balance raises $2 million in seed funding led by Accel Partners

US and India-based natural supplements company 1Balance has raised $2 million from Accel Partners, Larry Braitman, and a bunch of prominent angel investors in a seed funding. The company offers personalized healthy living products on a subscription basis. The firm intends to use the funds to put up production facilities, a production team and a distribution network in place, assisting the company in creating the highest quality products. 1Balance also offers personalized products like tea, which are made from herbal ingredients, and are good specifically to boost your metabolism. The company was founded in December 2018 by Dikshant Dave, Shrinivasa Sharma, and Karthikeyan Iyer.

Cancer care aggregator Onco raises $7 million in funding

Onco, a cancer care aggregator, has raised $7 million in Series A round funding led by Accel Partners, Chiratae Ventures, and Dream Incubator. The online platform aims to be the one-stop-shop for all cancer-related needs of the patients and caregivers. The team plans to utilize the capital to expand its customer base and scale operations globally. Currently, the platform offers treatment advice and care management to cancer patients around 18 countries. The platform has a network of over 1,500 oncologists, 500 hospitals and labs and also allows the patients to get personalized advice. On average, the company handles around 10,000 unique cases of cancer per month across different nations. It also offers complimentary treatment advice for young ones below 14 years of age. So far, the firm has assisted over 100 children with cancer.

OfBusiness raises Rs 250 crore led by Norwest Venture Partners

SME lending platform OfBusiness has raised Rs 250 crore from Norwest Venture Partners along with participation from existing investors Falcon Edge and Matrix Partners. The Gurugram-based startup focusses on lending to SMEs and provides unsecured credit of up to Rs 2 crore to small and medium businesses through NBFC Oxyzo Financial Services. The firm has also partnered with Tata capital and AU Small Finance Bank. OfBusiness was founded in the year 2015 by Bhuvan Gupta, ex-vice president of engineering at Snapdeal; Asish Mohapatra, former VC at Matrix Partners; and former McKinsey partner Ruchi Kalra. The firm reported a revenue of Rs 401 crore in FY’18.