PharmEasy Closes Its Series B Round With Another $2M, Oddup Bags $6M & More

Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, fund launch etc. Read a brief description about all of them:

1. E-Pharmacy company 91 Streets Media Pvt. Ltd, which operates online drug delivery platform PharmEasy, has closed its Series B round with another $2 million (Rs 12.8 crore), taking the total funding raised in the round to $18 million from Trifecta Capital, reported TOI. The Mumbai-based company was founded in 2015 by Dhaval Shah and Dharmil Sheth.

2. Oracle is hiring people for a "new startup organization" inside its North American operation that will focus on key technology trends, including cloud computing, internet of things, artificial Intelligence, and augmented and virtual reality. The company has previously indicated its interest in investing in some of these technology areas like machine learning and analytics.

3. To establish its footprints in the Indian clean energy space, UK Green Investment Bank Plc. (GIB) plans to become an anchor investor in the Indian operations of UK-based Lightsource Renewable Energy. Lightsource Renewable Energy is among the largest global solar power project developers and announced its plans to develop 1,000 megawatt (MW) capacity in India, reported LiveMint.

4. Hong Kong-based startup focussed research platform Oddup has secured $6 million in its Series A round of funding led by Brand Capital, the investment arm of Indian media conglomerate The Times Group. The round also saw participation from existing investors including 500 Startups and Click Ventures and new investors including Moneta Ventures and White Capital. The latest round brings Oddup’s total funding raised to $7 million, till date. With the newly raised funding, the startup aims to expand into India and complete its expansion throughout Asia.