Raising funds at a time when startups are facing greater scrutiny over valuations is something of an achievement of its own. Let’s find out which of these startups made it big and are flourishing despite the investment draught.
Romulus Capital Raises Funds
US-based early stage VC firm Romulus Capital have raised funding of $75 million making this the this and largest of them all.
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Funding Roundup: Startups That Caught Investors’ Eyes Recently
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With this investment, the firm is looking to target India and have already made their initial investment into pharmaceutical company, Vyome Biosciences. They will further look to invest money in technology-enabled startups in real-estate, healthcare and hospitality sector and refrain from investing in e-commerce and capital-intensive businesses. They plan to infuse anywhere from $100,00 to $500,000 in the seed stage into several machine-learning and artificial intelligence startups.
VCs love Uber
Securing funds from Saudi Arabia's sovereign wealth fund, taxi aggregator Uber received some major funding on Wednesday, gaining a crucial partner in its expansion into the Middle East.
Uber has raised funds of $3.5 billion and is now valued at $62.5 billion, making it the most highly valued venture capital-backed company in the world, the firm said in a release. The firm means to use these funds to expand globally, including in the Middle East and North Africa, which the company sees as one of its fastest-growing regions.
"We appreciate the vote of confidence in our business as we continue to expand our global presence," Uber chief executive Travis Kalanick said in a statement. "Our experience in Saudi Arabia is a great example of how Uber can benefit riders, drivers and cities and we look forward to partnering to support their economic and social reforms."
Rumayyan said in a statement that the fund "is excited to have completed this important strategic investment with Uber, an extraordinary company with an inspiring mission."
"We've seen first-hand how this company has improved urban mobility around the world and we're looking forward to being part of that progress," he added.
BRIDGEi2i Gets Series A
Analytics solutions startup BRIDGEi2i has raised an undisclosed amount of secured Series A funding from Edelweiss Private Equity. Edelweiss Private Equity is the private equity and venture capital arm of Edelweiss Financial Services, a diversified financial services conglomerate.
Founded by former HP executive Prithvijit Roy, former Genpact executive Ashish Sharma and former GE Capital executive Pritam Kanti Pau in 2011, BRIDGEi2i offers analytics and decision support solutions across Marketing, Sales, Supply Chain, Pricing and Risk Management. The firm plans to use this investment to accelerate development.
“This investment will fuel our ability to deliver greater value to customers by enabling us to accelerate the development of our machine learning based business applications, along with a significant expansion of our consulting teams across India and the United States,” Roy said.
Automobile transactional marketplace, Droom has announced the closing of its Series B funding in a round led by BEENEXT from Singapore and Digital Garage from Japan
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