A used car marketplace becomes the object of a maiden investment from Lei Jun’s VC, while a couple of acquisitions and some funding round out our list of start-ups in India that are movin’ on up.
Pre-owned car marketplace Truebil
has raised $3 million from Shunwei Capital. Shunwei is Xiaomi founder Lei Jun’s VC fund.
The fund focuses on mobile internet and IoT, and primarily invests in early and growth stage start-ups.
Founded in March 2015, Mumbai-based Truebil
is a marketplace for pre-owned vehicles. It has a full stack model called Truebil
Direct that buys cars from sellers, gets them refurbished, and lists them on the site. The start-up
launched services in Bangalore last year in September.
Founded by Pankaj Bora and Shubham Goyal, Fitard is a fitness rewards app that gives users Fitcoins for completing targets. Those can then be used as discount coupons.
Founded by former Bharti Airtel brand marketer Ritu Srivastava and Aircel IT worker Yogesh Sachdeva, Obino
raised early stage funding in January last year. It launched in August 2014.
Packaged foods start-up Sattviko
has acquired online fashion curation site StylSpot, in a move to strengthen its tech platform. The terms of the deal were undisclosed.
StyleSpot was founded in 2015 by four IIT-Dhanbad grads – Sumeet Chilwal, Gaurav Goyal, Amit Verma, and Jalaj Dagar. Sumeet will join Sattviko’s core team.
Insignia, an art venture, has raised over $520,000 from DSG Consumer Partners. It runs online marketplace BestCollegeArt, which also has an offline outlet in Delhi. Insignia
also owns an art gallery, Art District XIII, as well as The Wall Art Magazine.
This is an excerpt from an article published on TechInAsia. You can read the full story here