Swiggy raises $2.5 million from Accel and SAIF Partners
Bangalore-based food delivery app Swiggy has raised $2.5 million from VC firm Accel Partners and SAIF Partners, reports ET. The funds will go towards hiring and expansion of the company to cities like Mumbai, Delhi and Chennai by end of this year.
Interestingly, Swiggy has its own delivery personnel who use an app, powered by an algorithm, on their smartphones to check for delivery routes. Swiggy says that this helps them provide users real time tracking of the order status. Because of its in-house fleet, they do not have a preset minimum order value.
The company says that it accepts online payments for all the restaurants that they work with and their personnel carry out only one delivery at a time. As a commission, it takes a percent of the order generated from the restaurants and has tied up with over 300 restaurants, taking over 1,000 orders daily. Swiggy was founded by Sriharsha Majety, Rahul Jaimini and Nandan Reddy in August 2014. The company claims to have fulfilled over 30,000 orders.
InstaLively raises funding worth $120,000
InstaLively, a mobile and desktop app which livestreams in HD from an Android phone to YouTube, has raised angel funding worth $120,000 from Rajan Anandan, Amit Ranjan, Rajesh Sawhney, Niraj Singh, German investor AECAL and MeraEvents, reports VCCircle. The company will be launching its Android app end of this week. The funds will go towards customer acquisition with a target on the global livestreaming market to include entertainment, corporate and personal events.
The company says that the app integrates with YouTube channels seamlessly and has two livestreaming modes: DIY or Get External Help. On clicking the latter, a videographer from a nearby location visits your house to livestream or record the event into the user’s YouTube channel. The company says that livestreaming from its app is free with no thresholds on global viewership. It also allows users without a camera to broadcast from within the app and claims to work well in low bandwidth environments across mobile, tablet and PC.
InstaLively was founded by Karthik Vaidyanathan and Prakhar Khanduja last year. It has a team of 12 people out of which 8 are working on the product, while the other 4 work on sales and marketing.
LogiNext raises $500,000 from IAN
Logistics analytics and tracking startup LogiNext has raised seed funding of $500,000 from Indian Angel Network, reports ET. The funding was led by Sanjay Mehta who will join the board of the company along with Ajit Surana. LogiNext will use the funding for developing algorithms, hiring and marketing. A YourStory report states that LogiNext plans to go international in the next 6-9 months but after a Series A funding.
LogiNext was founded by Dhruvil Sanghvi and Manisha Raisinghani in 2014. It allows logistics and supply chain companies to track shipments, vehicles, assets and delivery personnel real time on a map. It also offers this tracking and analytics for e-commerce, courier, parcel, retail and grocery companies.