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    Funding Rundown: Bzaar raises $4 million, Insurance Samadhan bags Rs 5.5 crore & MasterChow gets Rs 3.5 crore in seed funding

    Funding Rundown: Bzaar raises $4 million, Insurance Samadhan bags Rs 5.5 crore & MasterChow gets Rs 3.5 crore in seed funding

    Funding Rundown: Bzaar raises $4 million, Insurance Samadhan bags Rs 5.5 crore & MasterChow gets Rs 3.5 crore in seed funding
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    By Aishwarya Anand   IST (Published)


    Here's a lowdown of the top deals from the startup space.

    B2B e-commerce startup Bzaar raises $4 million from Canaan Partners, Binny Bansal & others
    Bzaar, a global business-to-business (B2B) e-commerce marketplace, has raised $4 million in its seed funding round led by Canaan Partners. Former Flipkart executives and investors including Binny Bansal, co-founder of Flipkart; Sameer Nigam and Rahul Chari, co-founders of PhonePe; Lee Fixel, founder of Addition, and Ashish Gupta, co-founder of Helion Ventures, also participated in the current fundraising.
    The company will use the funds to acquire more verified, export-ready manufacturers for its platform, and to strengthen its India operations, it said in a statement. Founded earlier this year, Bzaar is a digital global wholesale marketplace enabling small retailers across the world to buy products from India and Southeast Asia.
    Insurance Samadhan raises Rs 5.5 crore in pre-Series A round from Equanimity
    Insurance Samadhan has secured Rs 5.5 crore in a pre-Series A funding round led by Equanimity Investments. The round also saw participation from 9Unicorns, Venture Catalysts, ZNL and other angel investors.
    The insurtech startup will use the funds to upgrade from offering just claim redressal services to an app providing claim management, insurance portfolio analysis and policy servicing features, it said in a statement.
    The firm claims to resolve insurance grievances like mis-selling, fraud and claim rejections in life, health and general insurance. Since its inception, Insurance Samadhan has resolved more than 14,500 grievances.
    MasterChow gets Rs 3.5 crore in seed funding round led by WEH Ventures
    MasterChow, a ready-to-cook Asian cuisine brand, has raised Rs 3.5 crore in a seed round led by WEH Ventures. The round also saw participation from angel investors such as Aditya Singh and Ravi Shroff. The startup plans to utilise the raised funds to double down on its manufacturing capabilities, product development, hiring new talent and geographic expansion.
    The firm is looking to enter new categories and ramp up its online footprint. The brand claims to have witnessed strong traction in tier 1 and tier 2 cities with revenue growing over 10x in the last twelve months. Currently, the brand is shipping to 17,000 pin codes (2800 cities) in India.
    Hoopr bags $1.5 million in seed round
    Music licensing marketplace Hoopr has raised $1.5 million in a seed round led by 9Unicorns accelerator programme. Marquee angels including Ashneer Grover (BharatPe), Anshoo Sharma (Magicpin), Sahil Barua (Delhivery), Giri Malpani, Anuraag Srivastava (Rainshine Entertainment), and Pradyumna Agrawal (Temasek), too participated in the funding round. The startup said it will continue to invest in growing its library and building features on the Hoopr platform across the next 12 months.
    HR tech platform Skillr raises $1.2 million
    HR tech platform Skillr has raised $1.2 million in its pre-seed round from Binny Bansal, co-founder of Flipkart. Caesar Sengupta (Co-founder, Arbo Works, and former VP, Next Billion Users, Google) and Kunal Shah (Founder, CRED) were among other angel investors who pitched in.
    The startup helps companies objectively measure the intangible behavioural skills that are necessary to succeed in customer-facing roles but are hard to identify in interviews. Skillr counts ITC, Mindhouse, Ultrahuman, Blue Tokai, Peebuddy, and Bharatpe, amongst others, as its clients.
    Fintech startup BharatX secures pre-seed round of $250K
    Fintech startup BharatX has raised $250,000 in a pre-seed round led by Java Capital and industry veterans. The funding round saw the participation of angel investors like Anupam Mittal (founder of and People Group), Ritesh Jain (ex-chief operating officer of HSBC), Faiz Mayalakkara (Director of Investments at UAE’s sovereign wealth fund), Amit Kumar Singh, (ex-Chief Business Officer), and LetsVenture AIF, among others.
    The company said it plans to utilise the fresh influx of funds to deliver seamless embedded credit experiences on many consumer-facing platforms across India. The startup enables consumer-facing platforms to offer Credit-as-a-Feature.
    Evenflow raises undisclosed sum in pre-Series A round from early-stage investors
    Thrasio-styled startup Evenflow Brands has raised an undisclosed sum in a pre-Series A funding round from early-stage investors Village Global, Venture Catalysts and 9Unicorns. The investment in Evenflow marks Village Global's entry into the Indian e-commerce aggregator space. The San Francisco-based VC backed by entrepreneurs such as Jeff Bezos, Bill Gates, and Anne Wojcicki has invested in over 200 startups across the globe.
    Marquee angel investors and funds such as Emil Michael (ex-Chief Business Officer at Uber), Anand Chandrasekaran (ex-Facebook, Snapdeal), Vijay Shekhar Sharma (Founder & CEO, Paytm), Kunal Shah (Founder & CEO, CRED), MaGEHold (SG/HK Based Angel Investment Group), Moving Capital (aka Uber Alumni Investment Club), MyAsiaVC, Luminaire Capital, among others also participated in the round.
    The fresh funds will be used to expand its team, make more acquisitions, and enhance its tech and operations, the company said in a statement. Evenflow targets brands that generate 80 percent or more of their revenues through ecommerce marketplaces.
    We Founder Circle pumps in $12 million across 30 startups in first year
    We Founder Circle (WFC), a founder-driven angel network, has invested $12 in 30 startups across 10 sectors in its first year of its operation across the investment deals. Majority of the investments are in the D2C segment, followed by agritech, fintech and edtech, among others. Currently, the investor is focussing on women entrepreneurs who are 30 percent of its start-up portfolio, it said in a statement.
    WFC claimed that around 20 percent of its portfolio start-ups are also funded by unicorn founders and more than 25 percent of WFC backed startups have female founders. "The startups are witnessing high scale growth and more than 25 percent of them raised their next round of funds within 6-7 months of investment from our side," said Neeraj Tyagi, co-founder and CEO, We Found Circle. The company said 70 percent of WFC angel investors are from tier 2 and tier 3 cities and it is aiming to adding at least 2000 more investors from these towns in 2021.
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