Funding and acquisitions in Indian startups this week (18 Oct- 23 Oct) -

Funding and acquisitions in Indian startups this week (18 Oct- 23 Oct)


This week 31 Indian startups raised funding, of which 29 received a total of $790 million. PharmEasy raised the highest funding of about $350 million, followed by CRED which raised $251 million.

Meanwhile, the funding of two of the total funded startups remained undisclosed.

Below is the summary of deals closed this week

Growth/late startups 

PharmEasy: Online pharmacy company PharmEasy has raised $350 million in a mix round of equity and debt financing in what appears to be a pre-IPO round for the Mumbai-based firm.

CRED: Credit card payment app CRED has raised $251 million in its Series E round, valuing the fintech startup at $4.01 billion. The round was co-led by existing investors Tiger Global and Falcon Edge. 

SUN Mobility: Electric vehicle energy infrastructure firm Sun Mobility on Wednesday said it has closed $50 million (nearly Rs 370 crore) funding by Vitol, a global independent energy trader and investor in zero-emission and renewable energy assets.   

CredAble: Supply chain finance startup CredAble has raised $30 million in its Series B round co-led by Plutus Wealth Management LLP and its associates along with its existing backer Oaks Asset Management.

funding

IDfy: IDfy, an ID verification startup, has raised Rs 86 crore or about $11.5 million in its Series D round led by TransUnion and Blume Ventures.

Aviom: AVIOM India Housing Finance, a micro-mortgage housing finance company, has raised $8 million in its Series C round led by Sabre Partners.

Early-stage startups

SaaS Labs: SaaS Labs, an automation startup, has raised $17 million in its Series A round led by Base 10 Partners and Eight Roads Ventures.

InnoDesigns: InnoDesigns, a new online furniture marketplace, has raised funding of Rs 75 crore or $10 million from the PAN Group.

FarMart: FarMart, a SaaS-led food supply platform, has raised $10 million in a funding round led by Matrix Partners India. Innoven Capital and existing investors Omidyar Network India, Avaana Capital, and 500 startups have also joined the round.

Wondrlab: Martech startup Wondrlab has raised $7 million in Pre-Series A funding. The round was led by Pi Ventures LLP, Tanas Capital, Prodapt Holdings, and several independent investors including Priyamvada Balaji of Lucas Indian Service and Gopal Srinivasan of TVS Capital. 

Questt: Edtech platform Questt has raised $6.75 million in Series A round led by Celesta Capital and Premji Invest. Existing backers such as AET Fund, Titan Capital, First Cheque and MarsShot Ventures have also participated, with Chiratae Ventures increasing its shareholding.

MarketWolf: MarketWolf, an intra-day options only trading app, on Tuesday said it has raised $5.5 million (about Rs 41.2 crore) in seed funding from a clutch of high-profile individual investors.

ConveGenius: Edtech startup ConveGenius raised $5 million as part of its pre-seed round of venture capital funding. It was led by new investors, BAce Capital, Heritas Capital and 3Lines Venture Capital, and existing investors, Michael and Susan Dell Foundation.

ClearDekho: ClearDekho on Thursday raised $4 million in pre-Series A round led by Aroa Ventures.

Revfin: Revfin, a digital lending platform focused on EV financing, has raised $4 million in its pre-Series A round with both equity and debt led by Redcliffe Life Solutions founder Dheeraj Jain.

BookingJini: BookingJini, a SaaS platform for hotels, has raised $3.3 million in its pre-Series A round led by Mumbai Angels Network.

Sourcewiz: Sourcewiz, a platform for exporters, has raised $3 million in its seed round co-led by Blume Ventures and Alpha Wave Incubation (AWI). Ravi Bhargava, Rakshita Agrawal, and other marquee angels such as Dhruvil Sanghvi, and Ashish Tulsian have also joined the round.

Tamasha: Tamasha, a social gaming app, has raised $3 million in its pre-Series A round led by Chiratae Ventures.

Numadic: Numadic, a tech startup that provides solutions in the vehicle mobility space, has raised $2.5 million in a pre-Series A funding round led by 9Unicorns and Venture Catalysts.   

Onato: Onato, an agri supply chain startup, has raised $2.2 million in its seed round led by Vertex Ventures and Omnivore.

Totality Corp.: Totality Corp, a mobile based gaming startup, has raised Rs 13.5 crore or $1.7 million in a round led by Leo Capital and Mayfield Fund.

Kafqa Academy: Bengaluru-based performing arts academy, Kafqa Academy, on Friday announced that it has secured $1.3 million in seed funding from institutional investors and tech entrepreneurs. 

Yu Foodlabs: Packaged food brand Yu has raised $1 million in its pre-Series A round led by Manish Choksi and Varun Vakil, part of the Asian Paints promoter group.

Ayekart Fintech: Ayekart Fintech, an integrated supply chain and finance platform startup, announced it has raised $750K or $0.75 million in a seed funding round from a consortium of angel investors.  

Devnagri: Devnagri, a B2B SaaS-based translation startup, has raised $600K or $0.6 million in its seed round from Venture Catalyst, Inflection Point Ventures and other co-investors.

MergerDomoMergerDomo, an online global tech-based investment banking marketplace, has raised $500K or $0.5 million in a bridge round from existing investors including Godrej Industries Chairman and Managing Director Nadir B Godrej.

Tvasta: Non-profit organisation Habitat for Humanity International has invested $400K or $0.4 million in startup Tvasta Manufacturing Solutions Ltd to boost the supply of affordable 3D printed homes in India.

Metastop Solutions: Metastop Solutions, a biotechnology startup, has raised $173K or $0.17 million in its seed round led by CIIE.CO. IKP Knowledge Park and angels have also participated.

Skyber: Skyber, a SaaS and B2B commerce-based platform, recently raised Rs $53K or $0.053 million in one round of investment through the Encubay Angel Network, a women-led and women-focused angel network.

Undisclosed funding rounds

Vidyakul and Green Soul did not disclose their financial details.

Acquisitions this week

Apart from equity and debt funding rounds, the Indian startup ecosystem also saw over a dozen acquisitions this week. Some of the notable acquisitions are mentioned below.

E-commerce roll-up company UpScalio has acquired gaming chair and furniture maker Green Soul Ergonomics.

Good Glamm Group acquired ScoopWhoop, a digital media and lifestyle content platform.

Acquisition Fintech giant Stripe set to acquire Recko, a payments reconciliation company based out of India, marking the global fintech behemoth’s first acquisition in the market.

Tiger Global-backed Scaler Academy acquired Coding Minutes for $1 million.

Curefoods acquired seven food brands including CakeZone, MasalaBox, Paratha Box, Ammi’s Biryani, Olio, Crusto and Chaat Street.

IPO-bound beauty brand Nykaa has announced the acquisition of Kolkata-based D2C skincare brand Dot & Key.

Amsterdam-based Global University Systems has acquired 100% stake in Indian education firm Edvancer Eduventures Ltd.

CRED is all set to mark its first acquisition with the impending acquisition of Chennai- based alcohol payment and delivery startup HipBar. 

E-commerce rollup company Evenflow has acquired BabyPro, an ecommerce online business in the baby proofing category.   

*Every week we track startups that have raised fresh investment. Stay tuned for next week roundup





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