India Funding Roundup: A Prepaid Mobile Balance Tracker, Photography Marketplace, and More

India Funding Roundup: A Prepaid Mobile Balance Tracker, Photography Marketplace, and More

Indian startups raised $1.73 billion (roughly Rs. 11,471 crores) in the first quarter of 2016, according to startup deal intelligence platform Xeler8. Our latest funding roundup compiles investments in Indian startups providing apps for prepaid users, matchmaking, predictive healthcare, child care, SaaS solutions for the enterprise, and more.

Photography marketplace Picsdream announced Friday that it has raised an undisclosed sum in angel funding led by Raman Roy, Co-Founder of Indian Angel Network and Ankit Nagori, Ex-CBO Flipkart and Harish Natarajan, Former CEO Bausch & Lomb India. Nagori and Natarajan have also joined the company’s Board of Directors.

Picsdream offers photographers a portal to share, showcase, monetise and securely store their work. The platform connects photographers – amateur, semi-professional and professionals – with buyers of photographs. The startup aims to create a comprehensive platform for the Indian visual arts community, said Mahesh Nair, Founder and CEO, Picsdream in an emailed statement.

True Balance
Japan-based SoftBank Ventures Korea (SBVK) has invested an undisclosed amount in a Series A funding in Gurgaon-based True Balance, a prepaid mobile balance tracking app. The funds will help True Balance accelerate its expansion plans and enhancing its product advantage, True Balance said in a statement. Launched in September 2014 by Charlie (Cheolwon) Lee, True Balance provides quick and intuitive balance check, call log, data pack assessment, and recharge service for prepaid Android smartphone users. The startup said that its app has seen 2.5 million downloads, and expects 10 million downloads in the next 9 months.

Dil Mil, a matchmaking app for South Asians announced on Thursday said it has $2.7 million in its pre-Series A round from a clutch of investors. The Dilmil team told Gadgets 360 that the app has generated over 1 million matches, and results in three marriages a week. The US-headquartered startup is currently working on facilitating video dates and will be rolling out VR dates shortly thereafter.

Mumbai-based loan comparison and switching platform SwitchMe has raised an undisclosed round of angel funding from Mohandas Pai, Hiro Mashita, Singapore Angels, and others. Currently available in Mumbai, Pune, Bengaluru, and Delhi, the funding will be reportedly used for market expansion and improving its technology.

Bengaluru-based predictive healthcare startup Touchkin has reportedly raised Rs. 2.65 crores in seed funding from a clutch of investors. Founded in 2015 by Jo Aggarwal and Ramakant Vempati, the startup provides apps for iOS and Android, which uses a phone’s sensors to track user activity and identify potential health issues.

Schoolkart, an online marketplace for school uniforms and other accessories has reportedly raised$300,000 (roughly Rs. 2 crores) fund from 12 angel investors. Founded in 2014 by Nikhil Sareen, Schoolkart stocks about 25,000 products on its platform, and plans to use the funds to develop its technology and expand its reach.

Healthcare startup AddoDoc, the parent company of mobile app Babygogo, which connects parents with child healthcare experts has raised Rs. 2 crores from 16 angel investors. The startup said it will use the funds to improve its technology and explore new channels in digital marketing.

Chennai-based FixNix, which operates a SaaS-based (software as a service) governance, risk and compliance (GRC) platform for enterprises has secured $500,000 (roughly Rs. 3.31 crores) in its pre-Series A round of funding from US and Singapore-based investors. Its software is reportedly used by over 200 companies to streamline their internal audit and risk management practice.