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Funding roundup: AdSparx, Nykaa & Covacsis

Mumbai-based video ad tech startup AdSparx has secured Rs 3.5 crore investment from Indian Angel Network, Mumbai Angels and GrowX Ventures, reports The Economic Times. The company will use this investment to expand to Singapore and United States. AdSparx provides an in-stream video advertising platform for streaming Internet videos. This includes linear TV programming content, on demand videos and live events. It claims the platform is device agnostic and provides video content distributors and internet video publishers with options to monetize their video inventory using pre-roll and mid-roll ads by aggregating advertisers. AdSparx was founded by Kunal Lagwankar, Lilesh Ghadi and Ketan Barhate in 2012 and was part of Microsoft Ventures' third startup batch in July 2013. It claims to have clients like Digivive's nexGTv, Vodafone, Airtel and Sony LIV. *** Online beauty products store Nykaa has raised investment from undisclosed investors including a big business family, reports The Economic Times. While the investment size was not disclosed, Nykaa CEO Falguni Nayar told the publication that the new investors will together hold 20% stake in the company post the investment. The company will be using the funding raised to setup offline retail stores and strengthen its online business. The company will be apparently setting up its first offline store at Terminal 3 of New Delhi airport. Nykaa was founded in 2012 by Nayar and her husband Sanjay Nayar who is the India CEO of the private equity firm KKR (Kohlberg Kravis Roberts). Together, they had invested $2 million into the company earlier and controlled around 95% stake, which has now declined to 75% following this investment. Nykaa currently offers…

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