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Hyderabad-based news aggregator app NewsDistill has raised about ₹67 lakh ($100,000) in seed funding from a group of investors including Narasimhan Ganesh, Senior Director at Box.com; Ramana Thumu, Vice-President of eBay; and, Sudhir Mallem of Uber. The start-up will use the money to develop the product and build the team. It also plans to raise another $100,000 in the next two months.
nearbuy gets ₹15-cr venture debt
nearbuy, a local commerce platform, has raised ₹15 crore in venture debt from BlackSoil Capital Pvt Ltd. Backed by venture capital firm Sequoia with Groupon US as a minority shareholder, nearbuy features hyper-local offers in food and beverages, spa, salons, wellness and getaways, and allows customers to discover the best things to do around them. The Gurgaon-based start-up will use the money to invest in customer and merchant technology.
Poshtick receives ₹3 cr from HNIs
Poshtick, a health and wellness start-up, has raised about ₹3 crore ($450,000) from Noida-based Bhavya Sharma and Amit Nagar. It will use the money for product development, strengthening the team and having an effective supply chain mechanism. Poshtick has a combination of functional, nutritional and value-added food products and offering through which it provided health solutions.
Grow Fit buys Drink King
Mobile health company Grow Fit has bought Drink King, which is into nutritional beverages. The acquisition, made for an undisclosed consideration of cash and stock, will make Grow Fit, which is backed by GrowthStory, a one-stop solution for preventive health and wellness.
Eros Labs invests in AlternaCare
AlternaCare, a technology driven healthcare platform, has raised about ₹3.3 crore ($500,000) of seed funding from Eros Labs. AlternaCare provides remote consultations to patients over multiple platforms. It started operations in January and launched its product in April. It will use the money to invest in product development, building the team, branding and expansion into key language markets.
Byju’s raises ₹330 crore
Education technology company Byju’s has raised about ₹330 crore ($50 million) from Chan Zuckerberg Initiative and others, including Sequoia Capital, Sofina and Lightspeed Ventures. This is the first investment for the Chan Zuckerberg Initiative, founded by Facebook founder Mark Zuckerberg and his wife Priscilla Chan, in India. Byju’s will use the money to expand globally.
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