Home Tech Update India Funding Roundup: Mech Mocha, Shotang, Arya.ai, MobieFit, LafaLafa

India Funding Roundup: Mech Mocha, Shotang, Arya.ai, MobieFit, LafaLafa

by onkar

After raising over $30 million last week, Blume Ventures announced Wednesday its latest investment in a game development studio. Our latest funding roundup covers investments in startups engaged in B2B e-commerce, AI, mobile fitness apps, as well as cashback and coupons aggregation.

Mech Mocha
As reported earlier, Bengaluru-based game development studio Mech Mocha has raised an undisclosed amount of seed funding from e-commerce major Flipkart and early stage investor Blume Ventures. Arpit Agarwal, Principal at Blume Ventures told Gadgets 360 that Flipkart had invested a low double digit figure in the company. Industry sources peg the deal to be in the range of $300,000 (roughly Rs. 1.9 crores) to $500,000 (roughly Rs. 3.3 crores).

Shotang, a B2B inventory e-commerce marketplace operated by Bengaluru-based Sabonka Tecnologies Pvt Ltd, has reportedly raised $5 million (roughly Rs. 33 crores) in Series A funding from Exfinity Venture Partners and Unitus Impact Livelihoods Fund. Founded in 2013 by Anish Basu Roy and Anterpreet Singh, Shotang is reportedly active in two metro cities, with 3,000 retailers transacting every week on the platform.

Mumbai-based AI startup Arya.ai has reportedly raised $750,000 (roughly Rs. 5 crores) in its pre-Series A round of funding from YourNest Angel Fund and VentureNursery members. Founded by IIT Mumbai researchers Vinay Kumar Sankarapu and Deekshith Marla, Arya.ai offers deep learning algorithms for developers to build intelligent AI systems.

Goa-based mobile fitness startup MobieFit has reportedly raised MobieFit $1 million (roughly Rs. 6.6 crores) in a strategic investment from Bengaluru-based Medi Assist. Founded by Gourav Jaswal and Gul Panag, Mobiefit offers an app called FirstRun for aspiring marathon runners for Android, and has registered over 50,000 downloads on Google Play.

Cashback and coupons aggregator LafaLafa has reportedly raised an undisclosed amount in its seed round from Hong Kong-based venture capital firm Vectr Ventures. Founded in April 2015 by Yosha Gupta, the startup has seen over 550,000 downloads since the launch of its services.


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