wordpress blog stats
Connect with us

Hi, what are you looking for?

Funding Roundup: VioletStreet, Zify, mGaadi & LetsVenture

VioletStreetVioletStreet, Zify raises Rs 10 lakh funding each 

VioletSreet and Zify have raised a funding of Rs 10 lakh each from five investors at Startup SmashUp, at an event organised by The Indus Entrepreneurs (TiE) in Hyderabad. The investors have picked up a 10% equity in each firm.

The story was first covered in Hindu Business Line.


VioletStreet is a fashion curation and retail site that went live in March this year. Zify meanwhile, is a Hyderabad-based startup that lets anyone offer ride sharing services. It lets users carpool with an option to choose time and location from the app. Zify is in the process of receiving feedback from its customers which they are using for product development.

Recently, another Indian social shopping platform LimeRoad had raised a Series B funding of $15 million from Tiger Global, Matrix India and LightSpeed Ventures.


Advertisement. Scroll to continue reading.

mGaadi call-auto service raises seed fund from Unitus

mGaadiBangalore-based mGaadi, a call auto service has raised seed stage funding from Unitus, reports The Economic Times.

mGaadi, an m-commerce ordering service for auto rickshaws will use the seed fund to develop its network of auto drivers, to enhance its technology platform, and to expand its operations in Bangalore and other Indian metros.

mGaadi is a commuting service from India Drivers Network which builds a location-based network of commercial drivers (starting with auto rickshaw drivers) and powered by customer ratings. Consumers can use mGaadi’s service by booking an auto over an app or a telephone call for a near-immediate pick-up, or to schedule a pickup. mGaadi auto drivers are then connected to riders based on their location and availability. Their services are currently available only in Bangalore.

Unitus Seed Fund had also invested in Commerzpoint Networks which owns and operates the online healthcare marketplace Medypal, 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.


LetsVenture raises Rs 4 crore

Advertisement. Scroll to continue reading.

LetsVentureOnline fund raising platform LetsVenture has raised a seed fund worth Rs 4 crore from angel investors led by Eka Software co-founder Manav Garg, InMobi co-founder Naveen Tewari, angel investor Rajan Anandan and Sharad Sharma, co-founder of software product industry think tank iSpirt, reports Times of India.

LetsVenture is an online deal-making platform that brings together investors and startups, much like AngelList. LetsVenture plans to use the funding to take the number of seed stage and Series A (first round of venture capital) deals in India from 200 to over 1,000 in a couple of years.

LetsVenture works like a marketplace for global investors to connect with entrepreneurs of India. It aims to close 35 funding deals this fiscal. They charge 2-3% of the entire funding as a commission from entrepreneurs. It also plans to charge investors about Rs20,000 as annual registration fee. At present, it has about 750 startups and 375 Indian investors registered on its platform. It recently helped Frrole raise $245k.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.


When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.


The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...

You May Also Like


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ