Funding Digest: Peel-Works, Shopholix, Skymet, and 9stacks

Peel-Works secures Series B funding from Unilever Ventures

Mumbai-based Peel-Works, a SaaS and big-data analytics company has secured Series B funding of undisclosed amount from Unilever Ventures and existing investors like Inventus Capital Partners and IDG Ventures India. Peel-works platform enables retailers to optimise their stores assortments and inventory levels, to thereby reducing their operations costs. The startup said in a statement that it will use the fresh round of funds to further strengthen its product and technology, will build leadership team and will expand in more geographies.

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Skymet gets funding from the German govt’s InsuResilience

Weather forecast platform Skymet Weather Services has raised a Series C round of funding of an undsiclosed amount from the German government’s InsuResilience Investment Fund along with existing investors, including Omnivore and DMGT. With the deal, InsuResilience acquires 26.8% stake in Skymet. Ernst & Young LLP acted as the exclusive financial advisor to Skymet for this transaction.

The company said in its statement that the investment will help Skymet to expand Automated Weather Stations (AWS) network and strengthen its climate prediction offerings.

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Shopholix raises Pre-series A funding of Rs 1.5cr

Shopholix, a fashion & lifestyle couponing platform for brick & mortar stores, has raised pre-series A round of funding of Rs 1.5 crore led by former PwC executive Munesh Khanna, along with other investors in India and abroad. With the funding money, the company plans to expand its geographical reach, and further enhance the product, partner network, and organise overall operations by March 2018. The platform is currently live in Mumbai only, and has about 2,000 local stores onboard. The company plans to bring on board 10 lakh total users, and achieve profitability with a valuation of Rs 100 crores by 2022, it said in a statement. It plans to expand its presence across Indian metros and Tier-1 cities, along with international shopping destinations such as Dubai, Bangkok, Abu Dhabi, Singapore, and Hong Kong.

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Realtime poker platfrom 9stacks secures Rs10cr fro group of investors

Online gaming startup 9stacks has secured angel funding Rs 10 crore in angel funding (Pre-Series A) from a group of investors including Wynk’s CEO Kartik Sheth, Careers360’s founder Maheshwer Peri, former CMO of Micromax Shubhajit Sen amongst others, reports ANI. The company offers online real-money poker to gamers across India, and claims that the player get real money after two hours of winning it.

The startup will used the fresh capital to scale its technology, product and design team, expand its customer base in India, and explore new geographies for business expansion.