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Funding Roundup: MoMark, IQLECT, Shouut & more


MoMark raises $600,000 in pre Series-A from YourNest Fund

Noida-based customer engagement platform and mobile wallet aggregator MoMark, has raised $600,000 in a pre Series-A funding led by YourNest Angel Fund, reports NextBigWhat. The mobile app-based startup was founded in 2012 by Dr Rajesh Sanghi. MoMark enables loyalty and analytics-led engagement programs for small and medium-sized retailers while enabling merchant discovery for customers. The new fund will be used to strengthen the technology platform, product categories, and to increase presence in existing and new markets as well. The company claims to have an adoption base of over 160 merchants in 58 cities, enabling over a million transactions worth Rs 763 million.


IQLECT secures undisclosed investment from US-based investors

Analytics startup IQLECT has secured an undisclosed amount in funding from Ganapathy Subramaniam and US-based investors including Lip-Bu Tan, Michael Marks, and Nicolas Braithwaite, reports Techcircle. The Bangalore-based company also raised $2 million from Exfinity Ventures, last year. IQLECT was founded in November 2012 by Sachin Sinha. It has built a hardware-software conjoined platform to provide data insights in real time. The company services clients in e-commerce, financial services, media and telecommunication industries.


Collegedunia raises Rs 3 crore in a pre-Series A funding

Education-based startup Collegedunia has secured Rs 3 crore in a pre-Series A round of funding from Umang Kumar. The Delhi-based startup was founded in 2014 by Sahil Chalana; it is a search meant for students, parents and other players in the education industry. The company claims to provide information on 20,000 colleges in India and abroad, covering information like fee, placement, alumni record, rankings, awards and extra-curricular activities. Collegedunia also raised Rs 1 crore in angel funding last year.


Robotics startup Systemantics raises undisclosed funding from Nandan Nilekani

Bangalore-based robotics startup Systemantics has raised an undisclosed amount of investment from Nandan Nilekani as well as from existing investor Accel Partners, reports Iamwire. The startup was founded in 1995 by Jagannath Raju; and in the year 2000, the company shifted its focus towards developing the robotics market. It now develops robots and custom-automated solutions for industries. Since its inception, Systemantics has worked on custom robotics projects with the Government, and companies including Titan and Hindustan Aeronautics (HAL). Systemantics aims to enable the adoption of flexible automation in industry, by cutting down on manual work force.


Social discovery app Shouut raises $500,000 from HNIs

Social discovery app Shouut has raised $500,000 in an angel round from an undisclosed high net-worth individuals in India, reports Livemint. The Bangalore-based startup was founded in 2015 by Praveen Kochhar and enables consumers to discover deals, buy event tickets or redeem coupons. The company claims to have tied up with Shoppers Stop, Croma, Reliance Digital and Benetton among others. It also claims to have more than 10,000 recommendations based from more than 100 different blogging platforms and 6 brands.


IoTfy secures undisclosed amount in seed funding

IoT-based startup IoTfy secures seed funding from US-based B2B accelerator 9Mile Labs, reports Iamwire. The startup was founded in October 2014 by Arpit Chhabra, Shivam Dikshit, Shashank Saxena and Sushant Taneja. It offers a self-serviced internet of things (IoT) cloud platform that for hardware enterprises in order to build and manage their connected devices, users and business. The company is currently headquartered in Seattle, WA and has development centers in India as well. IoTfy claims to service 7 OEMs and 2 white labelled manufacturers and plans to serve at least 3 million connected devices by 2017.


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