Samco Ventures Raises Rs 49 Crore Funding And Other Startup News That You Need To Know


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

Samco Ventures raises Rs 49 crore in series B funding

Samco Ventures which owns and operates online discount broker Samco Securities and mobile trading platform StockNote has raised $7.5 million (Rs 49 crore) in a fresh round of funding.

The Series-B round of equity financing is an internal round that was led by the company existing investor, mid-market private equity firm Bay Capital Investments. Promoters of the Mumbai-headquartered company also participated in this round. The brokerage will use the proceeds towards building a mutual fund distribution platform, lending capabilities, as well as its research and advisory businesses. 

Unacademy raises fresh fundings from existing investors

Edtech startup Unacademy has raised fresh funds amounting to Rs 3.84 crore from existing investors – Sequoia Capital, Saif Partners, Nexus Venture Partners, and Blume Ventures.

The capital infusion is learned to be the extension Bengaluru-based startup’s Series B round of funding happened in September last year.

This is the fifth round of funding for the Gaurav Munjal led startup. Till now, it has received funding to the tune of $17.5 million excluding the current round. The company raised $11.5 million Series B round led by Sequoia and SAIF.


Online events booking site TheCollegeFever raises seed funding

Bengaluru-based online college event ticket booking startup TheCollegeFever (TCF) has completed raising $250,000 (around Rs 1.7 crore) in seed funding from Mumbai-based investment firm 11.2 Advisors. This was confirmed by founder, Kushal Aralihalli.

This is the company’s first external fundraising and the funds will be used for customer acquisition and upgrading technology.

Run by Culturo Technology Pvt. Ltd, the platform has partnered with more than 2,000 colleges and has sold tickets for more than 6,000 events so far. It has sold more than four lakh tickets worth more than Rs 10 crore. 

Avendus Finance gives Rs 25 crore structured debt to LEAP India

Supply chain solutions provider LEAP India has received a structured debt of Rs 25 crore from credit solutions firm Avendus Finance—the non-banking finance company (NBFC) business of KKR-backed Avendus Capital. LEAP India will use the money for its capital expenditure needs and its future growth plans.

Founded in 2013 by Sunu Matthews, the company currently offers services to companies in FMCG, consumer durables, beverages and auto sectors. LEAP India covers strategic management, lumber sourcing, distribution & channel marketing, sales and its business if of returnable packaging and pooling of equipment. 

Today’s Take Away:

We all think that to be a successful entrepreneur one needs a special set of skills. But that is not always true. Passion is equally important for being successful, without that success will always remain elusive.

As Gary Vaynerchuk, American entrepreneur says,

“Skills are cheap. Passion is priceless.”