Startups That Have Raised Funds Today: MobieFit, Chumbak, Smaaash, Passion Gaming

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Below are the startups that have raised funding today. This article will be updated as and when the new funding news comes in.

MobieFit Raises $1.35 Mn From NB Ventures, Others

Health and fitness startup MobieFit has raised $1.35 Mn (INR 8.7 Cr) in a pre-Series A round of funding led by Dubai-based fund NB Ventures with co-investment from healthcare data management company MediAssist.

Founded in 2015 by actress Gul Panag, Gourav Jaswal, Shantanu Raghav, and Pravar Peri. The startup operates two health-related products, Mobiefit Run, and Mobiefit Body. It offers various fitness-related services including running tips and guidance, exercise routines, and health tips.

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Chumbak Raises $13 Mn Funding From Gaja Capital, Others

Bengaluru-based Chumbak, the company that sells designer-led consumer products has raised INR 85 Cr ($13 Mn) funding led by Mumbai-based mid-market PE firm Gaja Capital. The round also saw participation from existing investors Matrix Partners, Seedfund, and Narayan Ramachandran.

The company plans to enter overseas markets such as Indonesia, Malaysia, Singapore, and Hong Kong by the second quarter of the calendar year 2018.

Founded in 2009 by husband-wife duo Prabhakar and Shubhra Chadda, Chumbak started off by making souvenirs. Later on, it diversified its offerings across 100 categories, including fashion and travel accessories, bags and wallets, and decor.

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Smaaash Raises Funding From Sixth Sense Ventures

Gaming arcade operator Smaaash has raised fresh funding from consumer-centric investor Sixth Sense Ventures.

Smaaash was founded by Shripal Morakhia in 2009, however, the operations began in 2012. The company owns and operates digital entertainment centres for sports such as cricket, football, go-karting, bowling as also virtual games in 30 centres across India along with the US, China, and the Middle East.

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Passion Gaming Raises $3.75 Mn From Stride Gaming

Passion Gaming, which owns and operates online gaming startup RummyPassion has raised $3.75 Mn in a fresh round of funding from UK-based Stride Gaming. As per the deal, the online gaming company has divested 51% stake in itself to Stride Gaming.

The raised capital will be used by Passion Gaming to achieve faster growth and strengthen its marketing, technology and customer service teams.

Launched in 2015, Passion Gaming is an online gaming platform that offers digital card games like online rummy to its users. Its flagship site, RummyPassion, is currently managed by a team of more than 35 professionals based in Chandigarh.

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