Sharks offer small-town dreamers a shot at glory
Judges, or so-called ‘Sharks’, who are part of the Indian version of the global Shark Tank show, have already funded close to 100 entrepreneurs from smaller towns in India, many of whom are women. The show will be telecast on weekdays, beginning 20 December.
Sony Pictures Networks India has acquired the rights to the Indian version of the global business reality format Shark Tank, which allows budding entrepreneurs to make pitches to judges who, in turn, cut cheques for a stake in the company if impressed with the business models and founders. Shark Tank India has seven judges.
Shanti Mohan, the co-founder of angel network Lets Venture, added: “I believe that Shark Tank India will not only inspire more entrepreneurs and investors but also lead to a cultural shift in how Indian households perceive entrepreneurship as a viable career opportunity.”
LoanKuber raises Rs 13 crore from Lets Venture, Inflection Point, others.
Small businesses-focussed mortgage lender LoanKuber has raised Rs 13 crore in a pre-Series-A funding round led by Lets Venture and Inflection Point Ventures. LoanKuber will use the proceeds to hire more talent, enhance the existing tech stack and grow the loan book.
Backpacker hostel company GoStops raises $1 million in bridge round
The round has been funded by the company’s existing investors – Mumbai Angels Network, The Chennai Angels, Yuj Ventures, Lead Angels, 1Crowd, Indian Angel Network, Chandigarh Angel Network, in addition to new angel investors including Rohit Chanana of Sarcha Advisors.
The current round of funds will be used to acquire new budget hotels and grow its presence across the country. This move is in line, the company said, with the renewed demand for leisure travel.
Social media app Explurger raises $1 million funding
Explurger, a new-age Made in India social media app for global audience, has raised $1 million in pre-Series A from a clutch of investors, the company has said. The capital raised by the start-up, which was bootstrapped until now, will power the team expansion, product features and user acquisition.
The current funding round led by Ruchirans Jaipuria (Managing Director, Jaipuria Group), also saw participation from Lovkesh Arora (Founder & CEO, Phithos Technologies), Piyush Jain, and from other angel investors through LetsVenture, according to an official statement.
Stage3 raises pre-Series-A funding co-led by Inflection Point Ventures, LC Nueva
Lets Venture and Stanford Angels also invested in the funding round. Existing investor Blume Ventures has also participated in this investment round.
Other angel investors who pooled in capital in this funding round include Ananth Narayanan, Founder, Mensa Brands, Dinesh Aggarwal, CEO of India Mart and Sashwat Nakhrani, Co-founder of Bharat Pe.
The company is planning to use the fresh capital to improve its technology infrastructure, hire and build data science capabilities.
Alternative-Investing Platform, LegalPay Raises Pre-Series A
LegalPay, a tech-based alternative-investments platform specialising in legal financing investments, raised an undisclosed Pre-Series A funding led by Venture Catalysts and Amity Technology Incubator.
The round also saw participation from existing investors including family office of Mr. Ashwini Kakkar, former head of Thomas Cook and co-founder and chairman of via.com; venture capital fund 9unicorns; and other marquee angels including LetsVenture.
News & updates from last week: https://blog.letsventure.com/lv-news/letsventure-in-the-news29-nov-5-dec/