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Funding roundup: Adurcup, SnapShopr and Coverfox


Adurcup raises funds from Dineout founders

Online procurement platform for quick-service restaurants Adurcup has received an undisclosed amount in seed funding from Dineout founders Ankit Mehrotra, Sahil Jain, Vivek Kapoor and Nikhil Bakshi, reports Vccircle. The Delhi-based company will use the funds to expand its operations in Mumbai, Bangalore and Ahmedabad and to create an out-of-home advertising network aimed at reaching more than 25,000 customers per day across Delhi-NCR.

Adurcup was started as part of the BW Accelerate program inside the IIT Kanpur campus in January 2015. It provides users co-branding and advertising opportunities with a performance metric system in place. The company claims to have served more than 200 quick service restaurants in the past.


SnapShopr raises funds from Amod Malviya

Image search engine SnapShopr has raised an undisclosed amount in seed funding from Flipkart Ex-CTO Amod Malviya, reports YourStory. The funds will be used for hiring and advancing its research and development efforts.

Founded in September 2014 by Navneet Sharma and Debashish Pattnaik, SnapShopr is currently a team of six members with 10 clients including Voonik, Arvind Group and Homelane. The fashion and home decor startup plans to go international as well. It is powered by artificial intelligence and uses computer vision to help retailers increase their retention and conversion rates using advanced image search techniques. SnapShopr’s revenue model is similar to SaaS and based on API usage. With the help of SnapShopr, a user can tag similar looking products and recommend them to other users.


Coverfox raises funds from Narayan Murthy’s Catamaran

Online insurance company Coverfox has received an undisclosed amount in funding from Narayan Murthy‘s private investment firm Catamaran, reports YourStory. The funds will be used for technological advancement and overall expansion.

Coverfox provides a platform for users to search, compare, buy and manage insurance, including car insurance, bike insurance, health insurance, travel insurance and home insurance. Users can enter details like car age, model type, city of registration etc., to find insurance plans relevant to them.

Note that the company had raised $12 million in its second round of funding from Accel US, Accel India and SAIF Partners. Earlier it had also raised $2 million in a series A round of funding from Accel India and SAIF.

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