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Funding roundup: Furlenco, Digital Gorkha, Cubito and Mosambee

Furlenco raises $6 million from Lightbox Ventures


Bangalore-based furniture rental startup Furlenco has raised $6 million in a Series A round of funding from Lightbox Ventures, reports YourStory. The startup will use the funds to scale up its operations.

Furlenco, which started as RentUrDuniya, works on a monthly subscription model wherein customers can get living room, bedroom and kitchen solutions starting at Rs 1500 (which includes a queen size bed and table, single bedside table, lamp & photo frame and some soft furnishings). The startup designs, owns and holds all the inventory and takes responsibility for setting up the furniture and taking to back. Plans can cost up to Rs 7500 depending on the furniture involved.

Digital Gorkha raises $160,000 in angel funding


Pune-based Digital Gorkha has raised $160,000 in a round of funding from angel investor Ramesh Kavediya of Siddhivinayak Developers, reports Techcircle. The startup will use the funds to enhance its technology and marketing.

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Essentially, the platform is an electronic logbook of visitors for societies and individual residents, enabling paperless visitor registration by verifying user details through their mobile numbers and photographs. Family members, staff and pre-registered visitors have a faster check-in process. On registering a visitor, the visitor will receive information like parking, wifi password and elevator instructions among other details. The startup currently charges $149 and $249 per month per society or Rs 50 per month for individual residents.

Cubito raises $160,000 seed funding from angel investors


Bangalore-based Neocube Technology Solutions, which runs the transport software solutions provider Cubito, has raised $160,000 in a seed round of funding led by early stage investor Sol Primero and with participation from CISCO’s Director of Finance, Amit Khaitan and the entrepreneurship network at BITS Pilani, reports Techcircle. The funds will be used by Cubito, to enhance its technology and expand across verticals.

As a part of the deal, co-founder of Sol Primero, Presha Paragash will also join the board of the startup. Founded in 2012 by Tash Patodia and Pranay Agarwal, the company pivoted its business model in September last year to become a provider of software solutions to enterprises for employee transportation. It currently offers its flagship product Employee Transportation Automation Tool which compiles employee information, geocodes the data and allocates the fleet.

Mosambee raises Series B from existing investors


Mumbai-based Synergistic Financial Networks, owner of the mPOS solution provider Mosambee, has raised an undisclosed amount in a Series B round of funding from existing investors SIDBI Venture Capital and Rajasthan Venture Capital Fund (RVCF), reports Techcircle. The companies will invest in two tranches, with the deal expected to close in 6 months. The startup will use the funding to complete its product and increase its capabilities. With this investment, the company is looking to expand throughout the country and internationally as well. Note the company had previously raised $1 million in seed funding in April 2013.

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Founded in 2008 by Alok Arora, Bhushan Thaker and Sameer Chugh, Mosambee currently offers multi-mode payment solutions for merchants including enabling mobile phones to function as card reading machines for real-time bill payments. The platform currently claims to have over 10,000 users in India and is active mostly in the Western and Northern parts of the country.

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