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Indian Startup news roundabout this Weekend

Delhivery raises $30 Million from Fousun International:
Logistics startup Delhivery has raised funding of $30 Million(Rs200 Crore) from Chinese conglomerate Fosun International. Existing investor and global alternative asset manager The Carlyle Group also seen participating the funding round.

With the funding round the startup is now valued at $650 Million. The funding came after a month of startup received $100 Million from Carlyle Group.

With the Fosun’s backing, the total amount Delhivery has raised is around Rs 855 crore, marking the largest funding round for an Indian logistics services provider focused on the growing e-commerce segment.

For the financial year ending March 2016, Delhivery’s losses stood at Rs 317 crore, compared to Rs 71 crore in FY 2014-15. Revenue grew to Rs 495 crore during the same period, compared with Rs 228 crore in the previous year.

FlexiLoans acquires CreditPeriod.com:
Digital lending platform FlexiLoans Technologies Pvt. Ltd has acquired Mumbai-based supply chain financing platform CreditPeriod.com for an undisclosed amount in order to strengthen its supply chain financing vertical.

As part of the deal, CreditPeriod co-founder Venkatesh Viswanathan, who has been a financial forensics professional, will join the FlexiLoans team to drive its supply chain finance initiatives.

Deepak Jain, the cofounder of FlexiLoans, said: “This acquisition strengthens our position in the deeply underserved supply chain market for the SME ecosystem as well as enabling us to underwrite loans using real-time ERP integration with SMEs to solve the credit trust problem.”

Flexiloan has disbursed loans in over 70 cities and has partnerships with over 50+ leading supply chain corporates and e-commerce players. The startup processed over 200 plus applications per month. The company plans to disburse Rs 300-500 crores worth loans in the next 12-18 months and tap 200 cities.

Growing at 250% month on month, the company is witnessing a 30% of Loans to Borrowers without a Credit Score & 25% e-Commerce Loans to Female Business Owners

ZipGrid raises Pre-Series A funding from 1Crowd and JLL India:
Real estate Tech startup Zipgrid has raised $500,000 (Rs 3.25 crore) in a pre-Series A round of funding from property consultancy firm Jones Lang LaSalle (JLL) and existing investor 1Crowd, a crowd-funding platform.

The Mumbai-based startup was started in August 2013 by Jaydip Popat and Kunal Gupta. ZIPGRID which is operated by MyAashiana Management Services Pvt. Ltd, provides technology-driven services to housing and superior community living standards experience while improving systemic efficiency in the Co-operative Housing Societies and other forms of homeowner or community associations.

Jaydip Popat, Co-founder – Zipgrid said: “We intend to combine our technology and management solutions with JLL’s network and understanding of this space to improve living experiences in communities while bringing significant economic benefits to residents. We are also thankful to 1Crowd for their continued support and participation in this round. It is a significant vote of confidence for us.”

The fresh funds will be used to upgrade its existing technology and operations. Also, a part of the funding will be used to launch a range of collective commerce solutions for its users. Read more about Indian Startup Ecosystem.

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Indian Startup news roundabout this Weekend
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