Richard Chandler + Better Butter

Paper’s daily briefing — December 11, 2017

Naveen Surya, the former MD of ItzCash, appears to be part of a new Indian venture of New-Zealand businessman Richard Chandler’s Clermont Group. Surya quit ItzCash soon after Nasdaq-listed Ebix, Inc. acquired the Mumbai-based payments company.

Sridhar Srinivasan, an advisor at Oliver Wyman, and former Managing Director at Citi, also appears to be associated with the setting up of this venture. Srinivasan has also been associated with SBFC (Small Business Fincredit India), an entity that the Chandler group is reportedly investing in, as part of a buyout by Arpwood Partners, of the small business loan portfolio of the Karvy Group i.e. the retail assets of Karvy Financial Services Limited.

In other news, regulatory filings indicate that BetterButter, the Delhi-based recipe sharing platform, has raised ₹4.1 Cr from an assortment of investors, some based in Singapore. Rajesh-Sawhney-backed BetterButter had indicated in a recent news report that it was in the midst of raising a Series A round. So this raise appears to be part of that round.

One last thing. In case you missed opening our Saturday email, Aamir Khan invested in a startup. For more details, please do figure out where our last email landed. Or read our medium post. Or sign in to

Monday, December 11, 2017


Rentickle, an online furniture and appliances rental platform, has raised $4 million in a Series A round from ThinKuvate and Ajay Relan, CX Partners Chairman. Existing investor, DMI Finance also participated in the round. (Inc42)

NestAway, the home rental startup, has received $50 million in a fresh round of funding from UC-RNT. The round also saw participation from existing investors Tiger Global and IDG Ventures. (ToI)

Juggernaut Books, a digital platform for reading and publishing books, has received strategic investment from Bharti Airtel to ramp up content acquisition, digital publishing & marketing efforts. (Inc42)

Flintobox, Chennai-based edutech startup, has raised Series A round of $7 million from Lightbox. (BusinessStandard)

Dunzo, daily-task management app, has raised $12 million from Google. Existing investors Blume Ventures and Aspada also participated in the round. (YourStory)

HandyTrain, corporate training platform, has received $1 million in a pre-Series A round led by Dubai-based NB Ventures. (VCCircle)

Mobycy, a bike-sharing startup, has raised $500,000 in seed funding from a group of angel investors. (ET)

Happay, an expense management platform for enterprises, has raised $10 million in a Series B round led by existing investor Sequoia Capital. Also, participating in the round are Axiom Capital, AME Cloud Ventures, VC fund by Yahoo co-founder Jerry Yang. (VCCircle)

Greenlight Planet, a cleantech startup with operations in India and Africa, has raised $60 million in a new funding round led by London-based private equity fund manager Apis Partners. Existing investors Eight Roads Ventures and Bamboo Capital Partners also participated. (VCCircle)

MSwipe Technologies, a mobile POS service provider, has raised ~ $40 million in a Series D round from Eduardo Saverin, Facebook co-founder. Saverin’s B Capital and DSG Capital Partners have led the funding with Ratan Tata’s UC-RNT Fund, Matrix Partners India and Falcon Edge Capital also participating. (Bloomberg)

eShakti, a women apparel e-tailer has raised $2.3 million in debt funding from NBFC BlackSoil Capital. (VCCircle), an AI-driven hiring startup, has raised $271K in seed funding from US-based Institutional Fund Core Financials. It has been reported that Indian actor Ashish Vidyarthi has also participated in the round. (DealStreetAsia)

The Man Company, a male grooming brand owned by Helios Lifestyle Private Limited has raised an undisclosed amount from Emami Ltd. (VCCircle)

TheLabelLife, a home decor and fashion portal, has raised $3.1 million from Kalpavriksh, financial services firm Centrum’s private equity arm. (VCCircle)

FlexiLoans, a digital SME lending platform, has raised an institutional debt funding of about $7 million to expand its proprietary loans and supply chain financing segment. (Inc42)

Ultraviolette, a Bangalore-based electric vehicle startup, has raised a $700K from TVS. (Inc42)

MilkLane, dairy supply chain startup, has secured ~ $4.1 million in Series A round of funding from the Switzerland-headquartered VC firm, Pioneering Ventures and Schreiber Foods, the American dairy company. (IndianCEO)

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