India Funding Roundup: Grabhouse, Cube26, Mobikon, IndiaLends, WorkIndia

India Funding Roundup: Grabhouse, Cube26, Mobikon, IndiaLends, WorkIndia

Delhi-based Cube26, renowned for its customized Android experience and gesture technology used in Panasonic and Micromax smartphones, announced Friday that it has raised an undisclosed sum of funding from Tiger Global Management.

Cube26 plans to leverage its software expertise across different platforms and form factors, and use the funding for business expansion and the development of new technologies. Cube26 software currently resides on more than 5 million devices, or 4 percent of all mobile users in India. The company plans to further develop software products and work on smarter devices in the IoT (Internet of Things) segment.

Mumbai-based online broker-free accommodation listings platform Grabhouse has secured $10 million (roughly Rs. 65 crores) in funding from its existing investors Sequoia Capital and Kalaari Capital. Co-founded in 2013 by Prateek Shukla and Pankhuri Shrivastava, Grabhouse had raised $2 million in Series A funding in November 2014, and presently operates in 11 Indian cities.

Pune and Singapore-based MobiKon, which runs a platform called mEngage, a customer engagement and marketing platform for restaurants, has raised an undisclosed amount from Life. SREDA and Qualgro to fuel its international and domestic expansion. Mobikon reportedly plans to launch a complete new platform focused on restaurant social engagement. The company had acquired Triibe, a customer engagement startup in an all-cash deal in August 2015.

Delhi-based Fintech startup IndiaLends, a digital marketplace for loans, has raised about Rs 6.5 crores from existing investors, DSG Consumer Partners, Siddharth Parekh, Senior Partner at Paragon Partners, and other angel investors. The platform lets users apply for unsecured personal loans online, the loan requests are funded by bank and NBFCs (non-banking financial companies).

WorkIndia, a marketplace that connects employers with blue and grey collar employees has raised $500,000 (roughly Rs. 3.2 crores) in Pre-Series A round of funding led by Satyen Kothari, founder of Citrus Pay, Keshav Sanghi, Founder of Venture Works, and Discovery Capital founder Riddhesh Gandhi, among others. Founded in 2015, the Mumbai-based startup plans to utilise the funds to enhance its tech product and increase customer penetration.


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