India Lends Raises $10 Mn Funding & Other News That You Need To Know

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Listed below are some of the major news of the startup sector, take a look to stay updated:

IndiaLends mops up $10 million in Series B funding round

New Delhi-based fintech company IndiaLends has raised $10 million (about Rs 69 crore) in its Series B round of funding, which has been led by London-headquartered asset management firm ACPI Investment Managers and India-focused venture capital firm Ganesh Ventures.

The latest round of funding comes about 18 months after the three-year-old venture raised $4 million, and which was led by American Express Ventures, the corporate venture investment arm of American Express Co.

Groww raises $1.6 million in pre-series A funding

Investment platform Groww has raised $1.6 million in a pre-Series A funding round from Insigna Ventures Partners, Lightbridge Partners, Kairos and others.

The company will use the funds to strengthen its technology further and build scalable growth channels.

Launched in April 2017, Groww allows users to directly invest in mutual funds through a mobile app and web platform.


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BigBasket acquires micro-delivery startup Morning Cart

Micro-delivery aka milk-tech is hot, and Milkbasket has been ramping up its foray into the segment through acquisitions. Amidst finalising a deal with Pune-based RainCan, the Alibaba-backed company has struck a deal with daily essential ordering platform Morning Cart.

According to three sources, the deal has been signed and the Bengaluru-based Morning Cart team is joining Bigbasket. 


Today’s Take Away:

The entrepreneur is supposed to be a visualizer and a person who knows what the customer would be needing.

Steve Jobs had rightfully said,

“It isn’t the customer’s job to know what they want.”