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Funding roundup: Briston Technomach, XSTOK & Bueno


Briston Technomach raises $150,000 in seed funding

Delhi based Tech-startup, Briston Technomach, has raised $150,000 in seed funding from an undisclosed investor, reports Vccircle. The internet-of-things and machine-to-machine startup plans to utilize this amount for expansion to 8 cities such as Mumbai, Bengaluru, Kolkata and Chennai. The company also plans to introduce a new product Fuelark to measure the fuel and energy consumption in the power backup industry.

Founded in 2014 by Arpeet Gupta and Avnish Kumar, Briston Technomach is in the process of setting up a data analytic lab and plans to recruit 15-20 new people in its team. With this move, Briston Technomach aims to achieve an annual revenue of $5 million by the end of 2015.


XSTOK raises $452,000 in angel investments

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Mumbai based B2B auction site XSTOK has raised $452,000 from Oliphans Capital and early stage investors including Anupam Mittal, Jeetu Panjabi, Manish Chokshi and Vineet Suchanti, reports Vccircle. The firm plans to utilize the funds to launch new categories in the next two months and get new suppliers on board.

Founded in January by Sanjiv Khandelwal and Mihir Shah, XSTOK is an online auction platform for surplus stock of apparels and fabric and claims to have carried out over 150 auctions so far. The company claims to have Bombay Dyeing, Welspun, Mafatlal, Arvind and Garden Vareli as clients apart from having over 130 registered sellers and 4,000 buyers. The startup now plans to get international brands on board as partners.


Bueno raises $600,000 in Pre-Series A funding round

Gurgaon based online food home delivery startup Bueno has raised $600,000 in a pre-Series A round funding from an undisclosed investor aided by Ashoka Advisory Capital, reports Vccircle. The funds will be used for hiring, technological advancement, expansion of user base, operations and marketing.

Started in 2012 by Rohan Arora, Pankaj Sharma, Vipul Arora and Punit Jain, Bueno offers on-demand food delivery in Gurgaon and gourmet catering in Delhi-NCR. It has its own kitchen and plans to launch its app soon. It is in process of developing a 24*7 food delivery system in Gurgaon and has a GPS tracking system in place as of now.

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