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Daily Issue | 2nd June

Binny Bansal-backed Stellapps raises $14 million from Gates Foundation, others

Backed by Binny Bansal, Bengaluru-based startup Stellapps, which provides technology solutions for dairy farming, has raised $14 million in in a Series B round of funding. Led by IndusAge Partners, Bill & Melinda Gates Foundation, Qualcomm Ventures, and ABB Technology Ventures, the round also saw participation from existing investors Omnivore, Blume Ventures, Venture Highway, and BEENEXT.

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Google launches local discovery and community app Neighbourly in India

In a bid to extend its localisation efforts in India, Google has rolled out a new app – Neighbourly – that connects local questions with local answers. The beta version of the app has launched in one city (Mumbai) for now, but will be taken to other Indian cities and neighbourhoods in future. Neighbourly is a crowdsourcing app that helps people ask questions, submit answers, and follow other people’s questions through a swipeable stack of cards.

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MSME lending marketplace CoinTribe raises $10 M from Sabre Partners and existing investors

Gurugram-based CoinTribe, a credit-based lending marketplace for MSMEs, announced that it has raised over $10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia.

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[The Big Fight] Has PhonePe finally beaten Paytm with $20 B in annual transaction value?

Bengaluru-based payments company PhonePe announced its total users had crossed the 100-million mark and the platform had clocked $20 billion in annual total payment value (TPV) run rate, a fourfold increase from March 2017, as it beefed up its categories across travel and movie ticketing. PhonePe claims it has 33 million UPI users on its platform.

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