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Funding Roundup: Rapido, Fashalot, DriversKart & more

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Rapido raises undisclosed funding

Bike-taxi startup Rapido has raised an undisclosed amount of funding led by Pawan Munjal, and investment firms like AdvantEdge Partners and Astarc Ventures, among others, reports Livemint. The Bangalore based company will use the fresh funds in expanding its team base and operation into newer cities. It currently has a fleet of 400 bikes across Bangalore, Gurgaon and Delhi. Rapido operates through a mobile app; it claims to have completed 1,25,000 rides till date. It was founded in 2015 by Aravind Sanka Aravind Sanka, Rishikesh S R , Pavan Guntupalli

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Fashalot secures undisclosed funding

App based store discovery platform Fashalot has secured and undisclosed amount funding led by YourNest Angel Fund and Rajul Garg. The Gurgaon company will invest the funds in product development, hiring fresh talent top talent, and in operations. Fashalot platform connects shoppers with offline fashion stores using their location. It claims to have over 2000 live stores and 60,000 downloads in the Android and iOS app store till date. Currently, Fashalot has operations in Delhi-NCR and Bangalore. It was founded by Amit Koshal, Rishi Batra and Amit Sharma in 2015.

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DriversKart raises $450K from Ah! Ventures

On-demand chauffeur provider DriversKart has raised $450,000 in funding led by Ah! Ventures, reports TechCircle. Investment firm iVenture and individual investor Namit Agrawal also participated in the round. The startup will use the new funds to upgrade technology, hiring new drivers, and marketing. The Chennai based startup currently operates in Bangalore, Mumbai, Pune, Delhi and Chennai through a mobile app. It was founded in 2015 by Vinit Srivastva.

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Broomberg secures funding from a clutch of investors

Cleaning services provider Broomberg has raised an undisclosed amount of funding from clutch of unnamed individual investor, reports TechCircle. It will use the fresh capital to strengthen its management base, and expanding marketing efforts. The Bangalore based startup currently provides home cleaning services in Delhi, Gurgaon and Noida. Additionally, Broomberg has also partnered with cleaning services marketplace HELPI to access customers on each other’s platform. The company was founded in 2014 by Ishan Baisoya , Samrat Goyal.

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Oliveboard gets undisclosed funding

Online test preparation platform Oliveboard has secured an undisclosed amount of funding from India Educational Investment Fund, reports TechCircle. The funds will be used for marketing initiatives, building content and upgrading its technology. The Bangalore based company was founded in 2012 by V Satish Kumar , Abhishek Patil. It offers videos, lessons, topic tests, mock tests, and practice questions for exams such as CAT, GMAT, CMAT, XAT, GRE, and bank exams.

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Picture Credits: Flickr user Robert Scoble under CC BY 2.0

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