iTiffin raises $1 million in seed funding
Bangalore-based online meals service iTiffin.in raised $1 million in seed funding from an undisclosed large Indian family office, reports Techcircle. The startup said it would look to raise a further $6 million in the next six month via a Series A round of funding, to expand into Delhi, Mumbai and Hyderabad.
iTiffin, which provides calorie-based meal plans, will use the current funds to increase it operational efficiency, upgrade its online interface and add new features, venture into mid-night snacks segment and setup 10 retail centres. The startup aims to upgrade its kitchen to be able to process 10 lakh meals every month.
The firm which claims to deliver about 10,000 ‘tiffins’ a day, plans to develop a review mechanism for its users to monitor and educate them about wellness. It currently charges Rs 1750 – Rs 2600 depending on the meal, for 20 days/per month, one meal per day and charges Rs 5000- Rs 6000 per person for three month corporate plans.
Manthan Software Services Pvt. Ltd. secures additional funding
Bangalore-based business intelligence and Big Data analytics provider Manthan Software Services Pvt. Ltd. secured an undisclosed amount in additional funding from existing investors Norwest Venture Partners and Fidelity Growth Partner India, reports Techcircle. It is unclear how the company plans to utilize the funds.
Founded in 2004, Manthan software provides retail solutions for supplier collaboration, store operations, finance analytics, human resource analytics etc., CPG solutions like direct2shopper marketing, shopper analytics etc., and analytics in human engineering, performance management, role-based analytics, intuitive user design etc. The firm claims to have had over 120 retail and CPG clients in 19 countries and lists Teavana, Ecco, Ipsos, McDonald’s, SM Group, Love’s etc. as its current clients. Along with Bangalore, it also operates out of the US, the UK, Singapore, Brazil and the Philippines.
The company had previously raised $15 million in a Series C round of funding from Norwest Venture Partners back in February 2012.
Other Big data analytics firms to raise funds recently include Peel-Works, which raised $2 million from IDG Ventures and Inventus Capital last month, Germin8 which secured $3 million in Series A funding from Kalaari Capital in March, Indix which raised $8.5 million from Avalon and Nexus also in March, and Spire Technologies which raised $8 million from unnamed investors in December.
TinyOwl raises $3m from Sequoia Capital and Nexus ventures
Mumbai-based food ordering startup TinyOwl raised $3 million in a series A round of funding from Nexus Venture Partners and Sequoia Capital, reports Techcircle. The startup did not disclose how it planned to use the money.
TinyOwl currently offers a mobile app that detects the users location and shows restaurants in the vicinity through which food can be ordered. Orders can be paid for by card or by cash on delivery. The app currently services only certain localities like Powai, Andheri, Vikhroli, Malad etc, in Mumbai.
Competition in the food delivery industry include Rocket Internet-backed FoodPanda, which raised $60 million earlier this month bringing the total amount it received in funding till now to $108 million, JustEat.in which raised an undisclosed amount in November last year and TastyKhana which raised more than $5 million in June last year, among others. The online telephone and business listings service JustDial had also launched a food portal last year.