Photo credit: revalent / 123RF.
A food startup struck gold, as did a clean tech company, a car-buying site, and of course, fashion.
48East
48East, a Bangalore-based food startup that serves fine Asian gourmet food, raised US$500,000 in a pre-series A round from the Al Dhaheri family based in the UAE.
Founded in August 2016 by Joseph Cherian and Nabhojit Ghosh, 48East offers exotic delicacies from 48 different countries across the Asian continent. The investment will be used towards unit expansion, enhancing logistics, ramping up technology, and marketing, the startup said.
In August 2016, 48East raised US$250,000 in a round of angel funding.
CarTrade
CarTrade, a website for buying and selling new and used cars, raised US$55 million led by Singapore’s Temasek.
The money will be used “to support CarTrade’s growth plans through acquisitions, expansion into new areas such as auto finance, and to further sharpen CarTrade’s services to consumers, dealers and OEMs (manufacturers),” the company said.
Existing investors include Warburg Pincus, Temasek, JP Morgan, and March Capital.
See: CarTrade bags $30 million to take on Sequoia-backed CarDekho
Zenatix
Energy efficiency startup Zenatix Solutions raised US$1.2 million from early-stage venture capital fund Pi Ventures.
The startup’s device fits into the local electricity grid, which then collects and analyses energy usage based on temperature, humidity, and occupancy. The data is processed and analyzed to provide tips on how to reduce electricity consumption. Its clients include Starbucks, Google, and Xerox.
Zenatix’s existing investor Blume Ventures also participated in the round. The startup previously raised about US$200,000 in 2015 from a group of angel investors led by Rahul Khanna of Trifecta Capital, Rajan Anandan of Google, and Snapdeal’s Kunal Bahl and Rohit Bansal.
Photo credit: indiraswork / 123RF.
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