Drivezy – Self Drive Rental Service in India Raises $20M

Two years ago, we added Drivezy (formerly JustRide) to our portfolio and in such a short span of time, Drivezy has become one of the biggest marketplaces in India for renting cars and motorbikes.

Drivezy is constantly adding more funds to keep its fuel tank full for a long and successful journey. For instance, it has raised $20M in Series B round led by Das Capital (other investors include Yamaha Corporation, Axan Partners and IT-Farm). Not just that, Drivezy has also signed a $100M asset financing deal with Japan based ICO (Initial Coin Offering) advisory service, AnyPay which is great. Keep driving forward, Drivezy!

Abhishek Mahajan, one of the company’s five co-founders, told TechCrunch in an interview that the fleet should add a further 50,000-60,000 new vehicles, 75 percent of which would be two-wheelers, thanks to the AnyPay deal.

Mahajan said that Drivezy is currently market leader when it comes to self-drive two-wheelers — “self-drive” meaning vehicles that can be rented for a trip — with motorbikes and scooters accounting for “the bulk” of transactions, but just 20 percent of revenue. (That’s opposed to 80 percent for cars.) Revenue itself is 25 percent of the cut of a rental.

Aside from the asset financing deal — which will see AnyPay’s Harbourfront Capital vehicle own the new assets — Drivezy uses peer-to-peer and dealership partners for its fleet. The peer-to-peer appeal centers around increasing the utility of vehicles (and providing additional income to owners); that’s a similar pitch to car dealerships, who can draw income from vehicles used on Drivezy that would otherwise sit idle waiting to be purchased.

But the AnyPay deal is a “game changer,” according to Mahajan.

“When we fast-forward five years, we can’t imagine a scenario that car ownership in India goes from eight percent [right now] to U.S. level of 80 percent. India will have to skip a cycle on the culture of ownership and move into a sustainable sharing of cars model,” he added.

Please read the full story at TechCrunch.

People.ai – AI-Based Revenue Intelligence Platform Raises $30M

Graduating from YC Summer 2016 batch and starting as a report card of sales people, People.ai has now turned into a revenue intelligence platform for enterprises that intakes data from 90+ sources and analyzes it with specially designed AI algorithms to deliver insight on revenue opportunities. To improve their technology and expand their business further, People.ai has raised another $30M in Series B funding round led by Andreessen Horowitz with participation from GGV Capital, Lightspeed Venture Partners and Y Combinator.

The startup, founded by Oleg Rogynskyy, previously raised $7 million. It started as a software meant to give sales managers a predictive playbook for the best way to close a deal, but investors have a master plan for the long term.

While Rogynskyy tells me he’d eventually like to take the company public, People.ai first needs to solidify itself as an AI solution for enterprises. To do so, the founder says they will use about half of the Series B investment to fund commercial expansion and customer acquisition (something the Andreessen network will undoubtedly catalyze) and the other half to fuel data science and engineering advancements within the business. The San Francisco-based company has also opened offices in Boston and Los Angeles, and is considering building out an engineering-focused team in Canada.

“We’ve expanded so that we don’t solely work with salespeople. We now work with everyone who touches the customer interactions, including marketing, inside sales engineers, customer success and sales support services. People.ai not only captures the activity of salespeople, but now gives teams a 360 degree view of everything that is happening with a customer across an entire team,” explains Rogynskyy.

Please read the full story at TechCrunch.

Bitmovin – API-Driven Online Video Technology Service Raises Another $30M

Bitmovin – an online video technology service offering API-driven cloud based video encoding with in-depth analytics and HTML5 video player, has collected $30M in a Series B funding round. This round was led by Highland Europe and other investors including Atomico, Constantia New Business, Dawn Capital and Y Combinator also participated. Bitmovin went through Series A in 2016 to get $10.3M funding which was after one year when Bitmovin was added to our portfolio and as per Crunchbase, the total funding amount raised by Bitmovin till date has reached $40.3M.

The core product offered by Bitmovin is its video encoding service which can be tried for free through a cool Bitmovin Dashboard. However, on-premise encoding or encoding infrastructure service is a paid feature available only to enterprises. Bitmovin also offers a highly customizable HTML5 video player that supports DRM (Digital Rights Management) and monetizing video content by integrating advertisements. Botmovin’s last product is video analytics which provides detailed information on a variety of data metrics. Using analytics APIs, enterprises can build custom dashboards as per their own needs. Few OSS dashboards are also available which can be used by developers as a starting point for building their own ones.

The company says the new round of funding will be used to scale its product R&D, field engineering and sales teams worldwide — with the aim being to expand its global customer base of TV streaming providers, internet companies and social media companies. The Series B brings total funding for the 2013-founded company and Y Combinator alumnus to $43 million.

“Bitmovin came about as a spin-off from research we did together at the University of Klagenfurt, in Austria,” says Bitmovin CEO Stefan Lederer, who founded the company with CTO Christopher Müller. “During our PhDs we co-created the MPEG-DASH video streaming standard, which is used by YouTube, Netflix, Hulu, etc. amongst many others today, and which is used in total for more than 50% of the peak internet traffic. The research evolved into the company, with the help of angel investors including senior people at Cisco, Netflix, Accenture, Drupal and DropBox”.

“We are different from the existing vendors as we are deeply developer and API focussed, with a passion for innovation and disruptive technologies. That’s our background, we are engineers, and we like to build the best products. Thus we’ve been the first ones in many new technologies on the market, setting the bar on performance and efficiency of video streaming”.

On the technology side, recent Bitmovin announcements include the ability to use AI to encode videos more effectively (learning, scene-by-scene how each video is treated so the next one is handled more quickly) and a new video player that can reduce the load time on a typical HTML page by a second.

“We’re also proud to support a new royalty-free codec called AV1, which came out last week (backed by Apple, Bitmovin, Facebook, Google, Microsoft and Samsung, amongst others). It shifts the tectonic plates in video because it’s the first time that online video innovation will be possible without making payments to a pool of incumbent, traditional media and consumer electronics companies. It helps opens the playing field to internet companies to, potentially, take more of the lead in video entertainment. It also means more predictability as companies will not be affected by changes in patent pools,” says Lederer.

Please read the full story at TechCrunch.

Eight – Smart Sleep Products Company Raises Another $14M

Almost an year ago, we announced about $5M funding raised by our portfolio startup, Eight in Series A round. And we are very excited to share that Eight, a smart sleep products manufacturing company has also raised another $14M in Series B funding round led by Khosla Ventures in participation with existing investors Yunqi Partners and YCombinator.

“The partnership with Khosla is a clear fit for us. They share our vision of a future in which technology and data make healthcare more scientific and consistent. With this new funding, our growing team and investors reaffirm the commitment we made in 2014 to bringing the biggest technological evolution that sleep has seen in the last 300 years.”, said Matteo Franceschetti Co-founder and CEO, Eight.

“Thanks to over 20,000 of you, we are on a path to become the largest sleep database in the world. In addition to tracking over 2.5 million nights of sleep, we have also collected and processed 500 terabytes of data, executed over 200,000 sleep-related smart home actions, and warmed up beds for over 1 million hours.” added Matteo Franceschetti.

Please read full story at Eight.

Bevi – Eco-Friendly Smart Water Cooler Raises Another $16.5M

Our portfolio startup, Bevi – an environment friendly smart water cooler for offices with flavors and fizz has raised another $16.5M in Series B funding round. Earlier in December 2015, it raised $6.5M in Series A. With the freshly raised amount, Bevi plans to deploy its products to more locations across the U.S. and we wish them good luck with their expansion plans.

The company says around 1,000 of the Internet-connected beverage kiosks have been deployed in the offices of approximately 370 companies, including Apple, AT&T, Fidelity, GE, and Netflix.

The Series B round was led by Trinity Ventures, which has backed beverage companies like Starbucks and Jamba Juice, as well as tech startups like 3D printing company Markforged. Earlier Bevi investors Horizons Ventures and Tamarisc also contributed to the latest funding round. Bevi says it previously raised $11 million.

Bevi’s machines have a touchscreen that lets thirsty users select still or sparkling water, with a choice of flavors like orange mango, coconut, or a combination of blueberry and cucumber. Inside the machine, a system of pumps and valves take tap water from a hose and funnel it through a choice of flavor mixes and carbonation processes. Meanwhile, sensors and software help Bevi track things like how much concentrate of each flavor is left, how many beverages are being consumed, and so on. That enables the company to proactively refill inventory and fix maintenance issues—and to better tailor options to each client, say if a company’s employees prefer more organic choices or unsweetened flavors.

Bevi had sales of about $100,000 in 2015, and last year its revenue exceeded $1 million, Grundy says.

Please read the full story at Xconomy.

ShipBob – Ecommerce Order Fulfillment Service Raises Another $17.5M

Every year since 2015, we have something to share about our rapidly growing portfolio named ShipBob that offers fulfillment services like the ones of Amazon and Walmart to all online stores at affordable prices. Last year, it was about ShipBob raising $4M in Series A and now it’s about going through Series B funding round led by Bain Capital Ventures to raise another $17.5M. ShipBob now owns four warehouses in Chicago, New York, San Francisco and Los Angeles to deliver orders anywhere in continental US within two days.

Bain Capital Ventures led the Series B funding, which also included participation from existing investors Hyde Park Venture Partners, Hyde Park Angels, FundersClub and FJ Labs.

Dhruv Saxena, ShipBob’s CEO and co-founder, said companies can get deliveries to customers faster if they’re shipping from small regional warehouses, rather than one central hub. He said companies can, in some cases, get orders to customers same-day or next-day.

“That can be a major factor for the e-commerce businesses ShipBob serves, which range from 150 orders a month to more than 10,000 a day”, Saxena said.

ShipBob charges sellers a prenegotiated fee per shipment, as well as a fee for storing inventory based on how much space items require. Sellers pay ShipBob $35 each time they send a shipment from the manufacturer, as well as $5 per month for bins of items and $40 per month for pallets of items.

Please read the full story at Chicago Tribune.

Algolia – Hosted Search Engine API for Websites and Mobile Apps Raises Another $53M

Two years ago Algolia raised $18.3M in Series A round and now it has collected another $53M in Series B funding round led again by Accel. Algolia has got $74.22M of total funding till now. The excellent user experience, speed and accuracy offered by Algolia’s search engine are still making users go in love with it and developers love its reliability & scalability. We wish for Algolia to keep growing up and being loved by its customers.

Algolia is still growing like crazy, with its annual recurring revenue doubling every year. Algolia’s goal hasn’t changed — the startup wants to provide the best search experience to everyone building websites and apps out there.

The company now has 3,000 customers and handles 25 billion searches every month. Recently, the startup launched a fallback version of Algolia called Algolia Offline that you can use if you’re in airplane mode or don’t have a strong signal. Algolia also optimized its search feature for places.

With today’s funding round, Algolia is going to open another office in London after Paris, San Francisco, New York City and Atlanta. And of course, the company wants to get new customers, build new features and maybe one day become the Stripe of search.

Please read full story at TechCrunch.