India Funding Roundup: Mubble, MoEngage, Coverfox, Chai Point

Bengaluru-based mobile marketing automation platform MoEngage announced Tuesday it had raised $4.25 million (roughly Rs. 28 crores) in Series A funding. The funding was led by Helion Venture Partners with additional funding from Exfinity Ventures and prominent angel investors, including Kunal Bahl, Rohit Bansal, and Raghunandan. MoEngage enables mobile app companies to deliver individual-level personalised interactions via push notifications, in-app recommendations, email campaigns and other retargeting channels. With the latest funding round, MoEngage plans to launch its platform globally.

Infosys co-founder Nandan Nilekani has invested an undisclosed sum in Bengaluru-based start-up Mubble, which helps users track and control their telecom spends on a prepaid SIM card by tracking balances, deductions, and data usage. The funding, for an undisclosed sum, will be used to scale up the technology team. Founded in 2012, Mubble uses on-device analytics technologies to enable data crunching on the phone, reducing the need to send data out of smartphones to central servers.

Mumbai-based insurance aggregator and selling platform has received an undisclosed amount in funding from NR. Narayan Murthy’s private investment firm, Catamaran Ventures. Founded in 2013 by IIT-Bombay alumni Devendra Rane and Varun Dua, Coverfox has raised $14 million so far from Accel Partners and SAIF partners. The portal aims to be the largest online auto insurance provider within the next six months.

Chai Point
Tea retail chain Chai Point, a Mountain Trail Foods Pvt Ltd owned brand has raised $10 million (roughly Rs. 66.35 crores) from Eight Roads Ventures, with participation from Saama Capital and DSG Consumer Partners. Chai Point processes orders on its website and through apps for Android and iOS, and claims to have sold over 10 million cups of chai in a year. About 40 percent of its orders come from its mobile app.