The Hosteller Secures $4 Million in Series A Funding

- Moving Tech Innovations Ltd, the firm behind Namma Yatri, raised $11 million in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google. - The funds will be invested in technology, R&D, and product innovation to empower drivers, integrate public transport, and enhance customer experience. - Moving Tech aims to increase driver earnings and provide reliable, affordable, and sustainable mobility solutions through direct-to-driver and multimodal transportation models. - Originally launched as the Yatri app, Namma Yatri debuted in Bengaluru, Mysuru, Tumkur, and Kochi, and has expanded to Chennai, where it also facilitates metro-ticket bookings. - The company was spun off from Juspay in April 2020 and is led by Shan M S and Magizhan Selvan, who aim to create an impact similar to UPI in India and Linux worldwide. Source: Moneycontrol

- Bengaluru-based fintech startup Stable Money has raised INR 123.5 Cr (about $14.7 Mn) in its Series A funding round led by RTP Capital. - The round also saw participation from existing investors Matrix Partner and Lightspeed Ventures. - The board at Stable Money passed a special resolution to issue 77,135 Series A Compulsory Convertible Preference Shares (CCPS) at an issue price of INR 16,019 each to raise INR 123.56 Cr, as per regulatory filings. - The financing round appears to be ongoing and Stable Money is likely to raise more capital in Series A funding. - Founded by Saurabh Jain and Harish Reddy in 2022, Stable Money offers fixed-return asset investment opportunities for retail investors, such as access to fixed deposits, debt mutual funds, and bonds. Source: Inc42

I have been to a dozen zostel stays and all were awesome except 1. There are multiple hostel chains in India, but zostel leads with a margin. Few things I like about them... 1. Good location 2. Food availablity 3. Laundry 4. Affordable 5. Like minded people Which is your favourite hostel or hostel chain? Ex hosteller, go stops, whoopers and jungle etc. My fav few are zostel leh, whoopers palolem and vagamon

The market seems a bit dry now

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves. Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?

Once the posterboy of vc funded fast growing startups, Khatabook has grown quite. Anyone has an idea what's happening? I have heard from somewhere they have become profitable on the back of lending to shopkeepers.

from Malaysian sovereign wealth fund Khazanah. Does this indicate further delays to IPO? Source: https://www.bloomberg.com/news/articles/2024-01-25/khazanah-in-talks-to-lead-oyo-hotel-s-400-million-fund-raise

- Lenskart, the popular online eyewear retailer, has secured nearly $20 million in funding, led by co-founders Peyush and Neha Bansal, along with CJT Investments and TR Capital. - The board approved the issuance of 695,875 Compulsorily Convertible Preference Shares (CCPS) at Rs 2,300 each, raising Rs 160 crore ($19.12 million). - Peyush Bansal invested Rs 70.70 crore, Neha Bansal Rs 70.39 crore, while other co-founders Amit Choudhary and Sumeet Kapahi contributed Rs 9.60 crore and Rs 9.35 crore, respectively. - This funding follows a $200 million secondary deal where Temasek and Fidelity Management & Research Company acquired shares, valuing Lenskart at over $5 billion. - Lenskart plans to expand its network of 2,500 stores, with 60% of its revenue coming from India, and aims to leverage its strong financial performance and growth potential in international markets. Source: Business Outreach