Listed below are some of the major news in the startup sector, take a look to stay updated:
Grocery and milk delivery startup Milkbasket gets $7 million in Series A
Grocery and milk delivery startup MilkBasket has raised $7 million in a Series A round of funding led by Kalaari Capital, along with BeeNext and existing investors Unilever Ventures and Blume Ventures. This is the latest funding in the milk and grocery delivery space, with players such as DailyNinja and Doodhwala also having picked up venture capital in recent months.
MilkBasket had raised $3 million in a round led by the investment arm of consumer packaged goods company Unilever Plc, earlier this year. The latest round brings the Gurgaon-based company’s funding to $10 million, apart from the $1 million it has raised in angel investment.
CEO Anant Goel said the new capital will be invested in three areas – talent, technology and territory. MilkBasket, which currently caters to 40,000 households in Gurgaon, is looking to expand into newer cities in the next 6-12 months, though Goel did not specify the cities.
Fintech startup EarlySalary buys CashCare to grow
Pune-based fintech startup EarlySalary has acquired Mumbai-based checkout financing startup CashCare for an undisclosed amount. As a part of the deal, the CashCare founder will be joining the EarlySalary team.
EarlySalary, which is in the business of short-term loans for young people without any borrowing history, is planning to expand into the consumer-financing business with this deal. CashCare allowed its users to convert online purchases through their partner merchants into instant EMIs even without a credit card.
With this move, EarlySalary will be directly competing with PayU-backed Zest Money.
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Ather Energy launches charging infrastructure for electric vehicles
Ather Energy, the maker of e-scooter S340, on Monday launched its charging stations for electric vehicles. For the first six months, the charging points will be available to non-Ather users as well.
The company, cofounded in 2013 by Tarun Mehta and Swapnil Jain, has tied-up with about 50 players in the city for hosting installations and set-up as many as 19 installations till date.
The startup, backed by the founders of Flipkart, Tiger Global and Hero Motocorp, expects to set up 30 charging points by month-end and 60 charging points by year-end in Bengaluru.
Vernacular app NewsDog raises $ 50 Million from Tencent
NewsDog, a Hindi and vernacular app founded by Chinese entrepreneurs and downloaded 10 million times on Google Play Store, has raised $50 million (Rs 340 crore) in a Series C round led by Chinese internet giant Tencent Holdings. Other investors include California-based venture capital firm DHVC, Chinese VC company Legend Capital, and Hong Kong-based app developer Dotc United Group.
The company plans on using the proceeds to empower individuals and content creators to showcase their work and reach the digital mass public. The company is adopting blockchain to grow faster and make the content ecosystem transparent.
Today’s Take Away:
Creating the right brand and the reputation for your product is a great step forward. It is very important for budding entrepreneurs to have a brand that is reckoned by all in the market.
As, Dan Schawbel, world-renowned career and workplace expert says,
“When you brand yourself properly, the competition becomes irrelevant.”
