Subscription based drinks app Foom raises USD 46,000 seed funding
Founder: Lokesh Bevara
Founded in: 2017
Financing status: USD 46,000 seed round in 2017
Foom was founded in early 2017 by Stanford University graduate Lokesh Bevara. Prior to Foom, Bevara also founded cab booking startup Myprepaidtaxi.com and peer-to-peer shipping startup Sendthrume.
The Bangalore-based startup is operated by Mangsa Technologies. Foom is “First One On Me” in short. The startup provides members a free drink each and every day at any participating bar or pub. Going out to explore bars or pubs can be time consuming and expensive for many people. Hence, Foom hopes to provide places for its members to explore and provide them a free drink every day through its subscription service. Members can pick a free drink every day from a range of beers, breezers, whiskeys, brandy, rum, mocktails, vodka, cocktails and wine. The subscription is at INR 777 (USD 12.08) per month. There are 22 bars and pub vendors listed on its website, and users must be at least 17 years old to download this application.
Bevara said that the startup is planning to raise the next round of funds in the next six months and will utilize the funds to expand operations to all of India’s major cities by the end of 2019.
Logistics startup VDeliver receives undisclosed pre-Series A funding
Founders: Srinivas Madhavam
Founded in: 2011
Financing status: Undisclosed pre-Series A round in 2017
Intra-city logistics startup VDeliver has raised an undisclosed amount for its pre-Series A financing round led by Corvus Ventures and MAPE Advisory Group. Sify Technologies co-founder R. Ramaraj and Microsoft India managing director of R&D Anil Bhansali also participated in this round.
The investment will be used to develop new products and services as well as to strengthen the company’s existing portfolio.
VDeliver was founded in 2011 by Srinivas Madhavam. Later, co-founder A.S.K. Chaitanya Reddy joined the team in 2014.
The Hyderabad-based startup provides service with customized deliveries for individuals and corporates. The startup’s clients cover various industries including food, gifts, e-commerce, fashion, services, and health. It is claimed that Vdeliver has served more than 6,000 individual customers and also serving more than 60 businesses in Hyderabad and Chennai. It also claimed that it has successfully fulfilled more than 40,000 deliveries with 90 percent point to point deliveries at 99.5 percent accuracy.
(Top photo from Pixabay)