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Funding Roundup: Bluegape, Medypal & LocalBanya

Bluegape Logo

Online fan merchandising store Bluegape has raised Rs 1.56 crore from eight global angel investors via an online funding platform LetsVenture.com, reports The Economic Times. The company plans to use the investment raised to strengthen its technology and supply chain.

Prior to this, Bluegape had raised an undisclosed amount of seed funding as convertible notes from Willow Investment Management LLC’s Aniket Khera & Rahul Bhatia and an undisclosed entrepreneur. It was also part of Times Internet’s startup accelerator TLabs, as part of which it had received investment of Rs 10 lakhs.

Started in August 2011 by Sahil Baghla and Ayush Varshney, Bluegape allows customers to shop for various products like customized men’s and women’s apparel, footwear, home decor and home furnishing products and customized products like laptop skin, mugs among others.

It also allows users to shop for fan merchandise of cartoon characters (Tom & Jerry, Scooby Doo, Mickey Mouse & Chote Bade), film & music (Krrish 3, Indian Ocean), superheroes (Batman,Superman), gaming (Angry Birds) social causes (Aam Aadmi Party) and others. Bluegape pays a royalty fee of 10% to the brands for each purchase.


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Medypal Logo

Bangalore-based Commerzpoint Networks which owns and operates the online healthcare marketplace Medypal has raised investment from Unitus Seed Fund. While the investment amount was undisclosed, a TechCrunch report mentions that Medypal has raised $400,000 in this round.

Founded by Rammohan P and Dr. Brahmesh Jain, Medypal allows consumers to quickly get quotes for medical procedures from different health service providers, who will bid for their spend. The company mentions that it will be serving customers across all income levels and will be soon going live with healthcare service providers across South India. Rammohan has told TechCrunch that they are in final stages of signing up 300 health care providers in Bangalore. This ranges from from large hospitals, diagnostic centre chains to dental clinics and cosmetic surgical centres.

Last month, Unitus Seed Fund had also invested in GoCoop Solutions and services which operates a social marketplace for co-operatives and community based enterprises and Welcare Health Systems Private Ltd which offers affordable eye screening services.



Mumbai based online grocery store LocalBanya has secured an undisclosed amount in Series A funding from a real estate development group Karmvir Avant Group, reports TechCircle.

The company plans to use the investment raised to strengthen its operations and for hiring & marketing initiatives. It had previously raised investment from BCCL’s Springboard fund last July.

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Started in May 2012 by Karan MehrotraAmit Naik and Rashi Choudhary, LocalBanya allows consumers to shop for grocery and household products across various categories like fruits, vegetables, exotic vegetables, groceries, personal care, household detergents, kitchen ware, breakfast, snacks, among others. It is currently operational in Mumbai with plans to expand to Thane and Navi Mumbai later this month and two more cities by mid-2014.

Earlier this month, another Mumbai-based grocery story Ekstop had raised investment from Ronnie Screwvala’s Unilazer Ventures in return for 25% stake. Others include Bangalore-based ZopNow which has investors like Times Internet, Accel Partners and Qualcomm Ventures and BigBasket which had raised $10 million from Ascent Capital in March 2012.

Delhi-based AaramShop also offers online grocery shopping by tying up with mom-and-pop grocery stores for orders while HomeShop18 had introduced a food and groceries category last July but currently focuses only on packaged non-perishable food products.

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