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Latest Grace Capital Ventures News

India Dealbook: Diro Labs, ONN Bikes & Mr. Hot Foods raise funding

Dec 6, 2016

Subscribe to our newsletter Bhawna Gupta December 6, 2016: &nbsp Contacts management startup Diro Labs has raised Rs 1 crore, bike rental services provider ONN Bikes has received funding from Grace Capital Ventures while Mr. Hot Foods has got seed funding through IvyCamp platform. Info Edge invests $147k in Diro Labs VCare Technologies, which offers phone directory app Diro Labs has raised an additional Rs 1 crore ($147.5k) from Info Edge (India) Ltd, according to a stock market disclosure. It has invested through optionally convertible cumulative redeemable preference shares in the company, Info Edge said in a BSE filing. Post this, Info Edge holds a total of 14.77 per cent stake in the company with an investment of Rs 4 crore. In June, Diro Labs raised Rs 3 crore funding from Info Edge, the parent company of Naukri.com . ONN Bikes raises funding from Grace Capital Ventures ONN Bikes, an on-demand self drive bike rental platform, has raised an undisclosed amount of funding from Grace Capital Ventures , a company spokesperson told DEALSTREETASIA. ONN Bikes will use the money to develop its technological base to further minimise human involvement in the routine ground operations. Run by Mumbai-based Motocruizer Technologies (I) Pvt Ltd, ONN Bikes was launched in May 2016. The company caters to both B2B and B2C clients. Its B2B services are available in Bangalore, Gurgaon and Hyderabad while B2C services are being provided only in Bangalore and Rajasthan. The development was first reported by VCCircle. Mr. Hot Foods gets funding via IvyCamp platform Mr. Hot Foods Pvt Ltd, a food-tech startup, has received an undisclosed amount of funding from angel investor Pawan Raj Kumar through the IvyCamp platform, the company said in a press note on Monday. “Addition of Pawan as a mentor to our team Mr. Hot Foods has helped us to understand the dynamics of F&B industry on a larger scale. His ideas and regular inputs helps us in strategic decision making,” said Pankaj Sharma, founder of Mr. Hot foods. Founded in 2014 by Sharma, an IIT Kharagpur alumni, and Achal Bansal, Mr. Hot Foods delivers food from local restaurants and tiffin centres in standardised packaging. “Hot foods is solving a very big problem that is faced by many young Indians when they study and work away from home. They are looking for options of homely food. At the same time, they are focussed on addressing the needs of the small kitchens that make good simple food but lack the bandwidth to reach out to these customers,” said Pawan Raj Kumar. Also Read:

Grace Capital Ventures Investments

2 Investments

Grace Capital Ventures has made 2 investments. Their latest investment was in ONN Bikes as part of their Seed VC on December 12, 2016.

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Grace Capital Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/5/2016

Seed VC

ONN Bikes

Yes

1

11/30/2016

Seed

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$99M

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10

Date

12/5/2016

11/30/2016

Round

Seed VC

Seed

Company

ONN Bikes

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Amount

$99M

New?

Yes

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Co-Investors

Sources

1

10

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