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India Funding Roundup: LocalCircles, CapriCoast, Intelligent Interfaces, and More

India Funding Roundup: LocalCircles, CapriCoast, Intelligent Interfaces, and More

Our latest funding roundup, which takes a look at funding news and activity over the past few days, sees ex-Housing CEO Rahul Yadav back in the spotlight, as well as investments in fitness trackers for athletes, e-governance platforms, and wedding vendor aggregators.

Citizen engagement platform LocalCircles announced that Mahindra Group Chairman Anand Mahindra has invested an undisclosed sum in the company and will be joining the company's advisory board. Founded in 2013 by Abhishek Gupta, Mukesh Gupta, Yatish Rajawat, and Sachin Taparia, the portal has active communities in 200 Indian cities and plans to expand its reach with the investment.

Indian IT consulting giant Infosys announced its $3 million (roughly Rs. 20 crores) investment in US-based Whoop. The Boston-based company, founded in 2012, makes wearable activity trackers for athletes and trainers that continuously measure key strain and recovery variables. Actionable analytics powered by proprietary algorithms generate intensity and recovery scores, providing athletes and coaches better visibility into the drivers of high performance, the company said in an online statement.

Intelligent Interfaces
Ex-Housing.com CEO Rahul Yadav disclosed that he has received seed funding from Flipkart founders Sachin Bansal and Binny Bansal for his new venture, Intelligent Interfaces. The startup will provide e-governance solutions from Indian government agencies, and will not be taking any VC money, Yadav reportedly said at Flipkart's annual technology event, Slashn. Yadav had invited elite/ hardcore gamers to enrol for product roles for the startup in September.

Online modular furniture marketplace Capricoast has raised Rs. 23 crores from Accel Partners and RB Investments in its series A funding round. Founded by Jawad Ayaz in 2014, the Bengaluru-based website offers thousands of modular kitchen and wardrobe designs to choose from, and reportedly finds 85 percent of its users completing the buying process offline.

Mumbai-based Weddingz.in, an online platform for discovery and booking of vendors for weddings, has reportedly raised over $1 million (around Rs. 6.7 crore) in angel funding from a group of investors, including Google India's MD Rajan Anandan. The website, launched four months ago, covers 10 Indian cities, and plans to expand to cover 20 by the end of 2016.

Private aviation travel brand JetSetGo announced Monday that it has secured an undisclosed investment from Puneet Dalmia, Managing Director of Dalmia Bharat in his personal capacity. The investment comes after Yuvraj Singh funded YouWeCan Ventures acquired a stake in the company earlier this year in July. JetSetGo intends to use the capital infusion to build further on ground presence in key airports and continue roll out product offerings like inter-city private jet shuttles, air ambulance services, and online helicopter bookings.


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