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Lead School becomes third unicorn of 2022 after $100 million funding

Edtech firm Lead School has raised $100 million from investors led by GSV Ventures and WestBridge Capital, doubling its valuation in less than a year to $1.1 billion. The Mumbai-based company, which provides tech-enabled solutions to schools with a focus on digital learning through an online or hybrid model (of physical and digital) of classrooms, had raised $30 million in April last year. The financing round makes Lead School the third startup to enter India’s unicorn club in 2022, after direct-to-consumer brand Mamaearth and Fractal, an artificial intelligence firm. It is also the sixth Indian edtech company to reach unicorn status. Unicorns are privately held startups with a valuation of $1 billion and above.                                                                                      ET(13-Jan-22)

Sugar Cosmetics parent acquires ENN Beauty

Vellvette Lifestyle Pvt. Ltd., the parent company of Sugar Cosmetics, has picked up a 51% stake in natural skin and hair care brand ENN Beauty, a move that will further consolidate the beauty and personal care segment in the country. “With ENN, we will enter the skincare category and we expect it to grow exponentially over the next 12-24 months,” said Vineeta Singh, cofounder of Sugar Cosmetics. “The company is expected to achieve Rs 100 crore in annualised revenues over the next 12-18 months.”                                                                               ET(13-Jan-22)

Mukesh Ambani-led Reliance’s recent deals: From Mandarin Oriental hotel to funding Dunzo

New Delhi: Billionaire Mukesh Ambani’s Reliance Industries NSE 2.23 % (RIL) said on Monday it is set to acquire New York’s premium luxury hotel Mandarin Oriental for $98.15 million. In a statement, RIL said, through its wholly-owned arm Reliance Industrial Investments and Holdings (RIIHL), it will pay $98.15 million to acquire 73.37% of the hotel, as ET reported. Here are some of the recent investments and acquisitions made by Reliance Industries and its subsidiaries in the technology and startup space.                                                                        ET(12-Jan-22)

Rupeek picks up $34 million in fresh round led by Lightbox

Bengaluru: Gold loans provider Rupeek said on Tuesday it has raised $34 million in a fresh round of funding led by Lightbox. Existing investors including GGV and Bertelsmann also participated in the funding. The company is now valued at $634 million, said a person aware of the talks. Rupeek said it would use the funds to scale further and invest in new products. The company touched an annual disbursement run rate of $1 billion in December, it said on Tuesday.                                                                                                                                           ET(12-Jan-22)

IIT-M incubated startup YNOS Venture Engine raises Rs 2.5 crore in seed funding

Chennai: IIT-M incubated business intelligence and analytics platform for India’s innovation and startup ecosystem YNOS Venture Engine has raised Rs 2.5 Crores ($350K) in seed funding. We target the big systemic challenges at the bottom of the startup pyramid. The versatility of our smart platform makes it a relevant solution not only addressing the pain points faced by early-stage entrepreneurs but also investors, institutions and all stakeholders who want to be engaged with the startup economy in the country,” Prof. Thillai Rajan A., Professor-IIT Madras & Co-Founder YNOS Venture Engine said in a statement on Monday.                                   ET(11-Jan-22)

Recykal raises $22 million funding from Morgan Stanley, existing investors

Chennai: Waste-commerce solutions provider Recykal on Tuesday announced that it has raised $22 million in funding by investment funds managed by Morgan Stanley India. The company works with several of the world’s largest consumer brands to assist them in implementing sustainability solutions in India and has also launched India’s first B2B marketplace for waste that connects participants across the waste value chain. Recykal is driving efficiencies in India’s highly fragmented waste management sector by deploying technology-enabled solutions for all its stakeholders across India’s waste management and recycling value chain.                                 ET(11-Jan-22)

OpenSea valued at $13.3 billion in new round of venture funding

OpenSea, one of the most talked about blockchain startups in Silicon Valley, has raised $300 million in new venture capital, making it the latest company to cash in on a rush to fund cryptocurrency startups. The new round of funding, led by investment firms Paradigm and Coatue Management, brings the startup’s valuation to a staggering $13.3 billion just four years after it was founded. OpenSea previously raised more than $100 million from a host of investors, including investment firm Andreessen Horowitz and actor Ashton Kutcher, according to data provided by the company.                                                                                                                    ET(10-Jan-22)

Courseplay gets Rs 3 crore in seed funding from Inflection Point, others

Bengaluru: Courseplay, an employee growth enablement platform, has raised Rs 3 crore in a seed funding round led by Inflection Point Ventures. The capital will be used to acquire more customers, develop new AI-driven capabilities, as well as for expansion across India, Southeast Asia, and the Middle East. Founded in 2016 by Arjun Gupta, Courseplay captures data to provide growth suggestions to employers and their teams through its web application, chatbot, and mobile apps.                                                                                                       ET(10-Jan-22)

Bolo Live gets $2.4 million funding from Orios Venture Partners, others

Bengaluru: Bolo Live, a social live-streaming app, has raised $2.4 million from Orios Venture Partners and others ahead of its Series A funding round. SOSV, Tremis Capital, LPA Ventures participated in the fundraising, as did existing investor Eagle 10 Ventures and several high networth individuals. The company has now raised a total of $3.5 million. The fresh funding will be used to accelerate product development, strengthen the team and for expansion in both India and South Asian markets.                                                                                    ET(07-Jan-22)

Bombay Shaving Company raises Rs 160 crore in Series C funding round

Bengaluru: The Bombay Shaving Company, which has positioned itself away from a men’s grooming firm to a hair removal brand, has raised Rs 160 crore in a Series C funding round led by Malabar Investments, a hedge fund based in India. Patni Advisors, Singularity AMC, and others also participated in the fundraising. It has also paved the way for exits and employee stock ownership plan (ESOP) sales worth Rs 45 crore for some of its employees and early investors, the company said in a statement.                                                           ET(07-Jan-22)

Freecultr raises $5 million from Sixth Sense Ventures to push its new avatar

Mumbai: Direct-to-consumer innerwear, loungewear and activewear brand Freecultr has raised $5 million led by Sixth Sense Ventures as it looks to make a comeback amid a rush of activity in the consumer brand sector. Founded in 2011, Freecultur started life as an apparel ecommerce venture and raised $4 million from Sequoia Capital India in the same year. In 2019, it pivoted to the intimate clothing market with a focus on innerwear, loungewear and activewear for men and women. None of the original founders of Freecultr—Sandeep Singh, Rajesh Narkar, Harish Bahl and Sujal Shah— are a part of the company.                                                ET(06-Jan-22)

Living Food closes $7.5 million funding round led by Amasia

New Delhi: Fresh food startup Living Food has raised $7.5 million led by Amasia, a US-based venture capital firm which focuses on backing companies in the climate change and sustainability space. SOSV, Blume Founders Fund participated in the fundraising, as did angel investors like Xander Group founder Sid Yog and Nexus Venture Partners cofounder Sandeep Singhal. Founded in 2018 by Akash Sajith, Shikha Lakhanpal and Niranjan KS, Living Food focuses on delivering locally sourced produce to consumers.                                            ET(06-Jan-22)

Gaming startup Zupee racks up $72 million as part of larger round, valuation hits $600 million

Mumbai: Online real-money gaming platform Zupee has raised $72 million from Mumbai-based Nepean Capital as part of a larger funding round, the company said on Wednesday. With the fresh fund infusion, Zupee has closed its latest funding round totalling $102 million, valuing the company at $600 million. Some of its existing investors include Orios Venture Partners and Matrix Partners India. The company also announced a partnership with Reliance Jio Platforms, under which Zupee will distribute its content to users of Jio phones.              ET(05-Jan-22)

B2B etailer Geniemode raises $7 million from InfoEdge Ventures, others

Geniemode, a business-to-business cross-border e-commerce startup, has picked up $7 million in a Series A funding round led by Info Edge Ventures, the investment arm of Info Edge (India) Ltd. The fundraising, which comes within four months of the Gurugram-based firm’s $2.25-million seed round, will be utilised to scale the company’s tech platform to onboard more buyers and sellers, and for geographical expansion. Founded in 2021 by Tanuj Gangwani and Amit Sharma, Geniemode allows global buyers to source reliably from suppliers in India and Southeast Asia.                                                                                                                                      ET(05-Jan-22)

Exotel raises $40 million from Steadview Capital, others

Exotel has raised $40 million in a Series D funding round led by Steadview Capital, as the cloud telephony company looks to transform itself into a full-stack customer engagement platform and grow its footprint in markets including the Middle East and Southeast Asia. The decade-old company, which remained bootstrapped for most of its life, said the latest fundraising brings the total capital it has raised over the last 15 months to about $100 million. Exotel is looking to grow fast as demand for cloud telephony has exploded due to the Covid-19 pandemic.                                                                                                                                                      ET(04-Jan-22)

Exclusive: Former Myntra CEO Amar Nagaram’s new venture in talks to raise funds at $100 million valuation

Bengaluru: Former Myntra CEO Amar Nagaram’s startup is in advanced talks with investors such as Falcon Edge and Accel Partners to raise its first round of funding of $25-$30 million valuing it at $100 million, multiple people briefed on the matter said. Myntra’s co-founder Mukesh Bansal, who now runs Cultfit and is a president at Tata Digital, will also invest in his personal capacity in Nagaram’s startup — a fashion tech platform– sources aware of the matter said. If the deal goes through at a $100 million valuation, it will be among the most valuable startups in the idea stage.                                                                                                                                               ET(04-Jan-22)

ETtech Deals Digest: Cars24, Razorpay raise funds

Online used car platform Cars24, payment gateway Razorpay, business-to-business (B2B) commerce startup OfBusiness were among the startups that raised funding this week. Cars24 gets $400 million Cars24, an online platform which sells used cars, closed a $400 million financing round led by Alpha Wave Global, formerly Falcon Edge Capital. This includes a $100 million debt component which has been sourced from investors like Commercial Bank of Dubai and IFM Investors in Australia.                                                                      ET(29-Dec-21)

VR startup Metamall raises $4.6 million from token sales

Metamall, which provides virtual reality (VR) experience on the blockchain for users to build, explore, and trade in their own virtual mall, recently closed a $4.6 million round through token sales. The round saw participation from 316VC, CSPDAO, MarsVC, WLI Capital, BullPerks, HVS Ventures, CCK ventures and others. Metamall has sold $1 million worth of virtual land. Selling digital lands has become an important aspect of build different virtual worlds that would one day be combined into a single ‘metaverse’. Other popular online worlds are Decentraland and Sandbox.                                                                                                                                                       ET(29-Dec-21)

Jupiter snags exclusivity rights from Tiger Global as it closes $86 mn funding

Bengaluru: Consumer-focused neobank Jupiter NSE -1.46 %, started by former Citrus Pay founder Jitendra Gupta, has closed its latest funding with Tiger Global co-leading the round. What’s significant is that Tiger, in a rare move, has agreed to not invest in any rival consumer facing neobank in India, sources briefed on the matter said. This is only the second time in India when Tiger Global, the New York-based investment fund, has agreed to an exclusivity clause like this after it made a similar move earlier this year when it backed social network platform ShareChat.                                                                                                                                                    ET(28-Dec-21)

OwO Tech raises $3 million seed capital from marquee investors to fuel growth

Gurugram-based water e-commerce start-up OwO Technologies on Monday said it has raised $3 million (about Rs 22.5 crore) seed funding from marquee investors. OwO is creating disruptions in the online essentials space (the drinking water market at large) by launching WaaS (water-as-a-service), the company said in a statement adding that the company aims to expand to 75 cities by March 2023. The funding will be used to scale its technology platform and to launch operations in Delhi, Noida, Jaipur and Pune.                                                      ET(28-Dec-21)

Infra.Market raises Rs 200 crore debt funding

New Delhi: B2B construction materials marketplace, Infra.Market, has raised Rs 200 crore by issuing debentures to a group of investors led by financial institution Avendus, people in the know said. The funding is intended to help meet the working capital needs of the Tiger Global-backed company, the people said. Infra.Market became a unicorn—a privately held startup with a valuation of $1 billion or more—in February. “This is debt funding with a three-year tenure. The company is also in talks to raise equity funding,” a person aware of the matter said. Apart from Avendus, the family office of Phoenix Mills and Dalmia Group Holdings also participated in the fundraising.                                                                                                                                                                           ET(27-Dec-21)

Palani view Project business on Google 527 views this month

NirogStreet, a technology-led Ayurveda doctor platform, has raised $4 million in a round led by CE-Ventures,the corporate venture capital platform of Crescent Enterprises and ICMG. The round also saw participation from Gokul Rajaram, board member at Coinbase and Pinterest; Wavemaker partners; Anuj Srivastava, founder at Livspace; Rajeev Kannan, management executive officer at Sumitomo, Singapore; Suresh Vasudevan, CEO of Sysdig USA; Ramakant Sharma, cofounder of Livspace, Andy Hwang, ex-Google executive, Ashutosh Sinha, former CEO at Morgan Stanley, Dr. Kyohei Takano, a Tokyo-based gynecologist, Arup Dutta, VP of global quantitative equity at Mackenzine Investments, and Lalit Mittal, head, Livspace Interior Business.     ET(27-Dec-21)

Swiggy in talks to invest in Rapido as part of a larger financing round

Bengaluru: Food-delivery company Swiggy is in the final stages of discussions to invest in Bangalore-based bike-taxi startup Rapido, two people in the know of the matter told ET. If the investment deal goes through it will help Swiggy enhance its last-mile delivery capabilities and bolster its quick commerce ambitions. The funding will also be Swiggy’s first bet in the mobility sector. The capital infusion from Swiggy is part of a larger financing round of $150-200 million that Rapido is in talks to raise. Swiggy declined to comment on the development.   ET(24-Dec-21)

Distribution startup Ripplr raises $12 million in debt, equity

Mumbai: Distribution and logistics startup Ripplr has raised $12 million (around Rs 90 crore) in a funding round with a mix of equity and debt from Japanese firm Sojitz Corporation and Stride Ventures. The pre-series- B funding round also saw participation from existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, and Chand Family Office. The Bengaluru startup had raised $3 million series-A round in January 2021. Angels who support early-stage investments such as the Licious founders Vivek and Abhay; and the Kaleyra founders Aniketh and Ashish, also participated, the Bengaluru startup said.                                                         ET(24-Dec-21)

IIFL Fintech Fund to invest Rs 300 crore in early-stage fintech startups

IIFL Fintech Fund is planning to invest Rs 300 crore in early-stage Indian fintech startups in the next two years to facilitate the creation of affordable products and technologies that aid financial inclusion. The fund was set up in August 2021 with Rs 140 crore sponsorship from two IIFL Group firms—IIFL Finance and IIFL Securities NSE 0.79 %. It has invested in four fintech startups—Leegality, FinBox, Trendlyne and DataSutram—in the first three months of its existence and is in advanced stages of discussion to invest in 10 more by the end of the current fiscal.                                                                                                                                                             ET(23-Dec-21)

Exclusive | Neobank Open expected to enter unicorn club with new funding of $100-150 million

Bengaluru: The stampede of unicorns continues even in the last few days of the year, with one more startup on its way to join the not-so-rarified club of companies valued at $1 billion and more. Sources told us that the Google-backed neobank Open is in advanced stages of talks to close a fresh funding round of $100-150 million after which it will be valued at $1.1-1.3 billion. If the deal goes through, Open’s valuation will more than double in two months since it closed its previous $100 million fundraise from Temasek Holdings, Google, Visa and others in October. The Bengaluru-based company was valued at $500 million at the time.                                  ET(23-Dec-21)

Jumbotail raises $85 million Series C round

Jumbotail, a business-to-business e-commerce company that supplies groceries to mom-and-pop stores, said that it has raised a Series C round of $85 million. The funding was led by Artal Asia Pte. Ltd., an affiliate of Invus, a global equity investment firm with over $10 billion of evergreen capital under management. Ajax Capital, the family office of veteran FMCG entrepreneur Ajay Gupta, also participated in the round. This Series C round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits in the secondary. This takes the total capital raised by the company to $125M. The company did not disclose the valuation.                                                                                                    ET(22-Dec-21)

Captain Fresh receives $40 million from Tiger Global, Prosus Ventures

Bengaluru: Captain Fresh, a business-to-business (B2B) online marketplace for seafood, has raised $40 million in a new round of funding co-led by Tiger Global and Prosus Ventures (formerly Naspers Ventures). Post this funding, Bengaluru-based Captain Fresh has seen its valuation jump four times to around $200 million compared to its last funding round of $12 million in July led by Accel India, founder and CEO, Utham Gowda said. Existing investors Accel India, Matrix Partners India, Ankur Capital, and Incubate Fund have also participated in this round. In total, the startup has now raised around $55 million.                                                                ET(22-Dec-21)

Zepto gets $100 million, valuation at $570 million

Signalling the frenetic dealmaking in the so-called ultrafast delivery segment, Mumbai-based Zepto has raised $100 million led by its existing investor Silicon Valley startup incubator Y Combinator’s Continuity Fund. The Mumbai-based company, which is among the most buzzy startups this year, has more than doubled its valuation to $570 million post the funding in just two months when it last raised $60 million at a valuation of $225 million. New and existing backers including Glade Brook Capital, Nexus Venture Partners, Global Founders Capital, and Contrary Capital, also participated in the round.                                                                                       ET(21-Dec-21)

Bizongo raises $110 million from Tiger Global, others at $600-million valuation

Bengaluru: Bizongo, a business-to-business ecommerce and supply chain enablement platform, has raised $110 million in a new funding round led by New York-based Tiger Global, taking its valuation to $600 million. The Mumbai-based company also said it has launched a new product — a ‘cloud factory’ powered by internet of things (IoT) devices. This, the company said, will help manufacturers provide their customers with real-time data on their supply chain.                                                                                                                                                ET(21-Dec-21)

Used vehicle seller Cars24 raises new financing as valuation jumps to $3.3 billion

An online platform that sells used cars, has closed a $400 million financing round led by Alpha Wave Global, formerly Falcon Edge Capital. This includes a $100 million debt component that has been sourced from investors like the Commercial Bank of Dubai and IFM Investors in Australia. Post the funding, Cars24’s valuation has jumped over 80% to $3.3 billion compared to its previous funding in September. The company had closed a $450 million capital raise which was led by the likes of SoftBank Vision Fund, Alpha Wave Global and Yuri Milner’s DST Global. The Gurgaon-headquartered company was valued at $1.8 billion back then.                            ET(20-Dec-21)

Razorpay’s valuation rises to $7.5 billion after $375-million funding

Razorpay has raised $375 million (Rs 2,850 crore) in a new funding round led by US-based investors TCV, Lone Pine Capital and Alkeon Capital, after which its valuation has grown to $7.5 billion—a jump of two-and-a-half times in eight months. The Bengaluru-based payments gateway platform had in April this year raised $160 million at a post-money valuation of $3 billion. The company has seen a seven-fold increase in its valuation in a little over a year since it turned unicorn.                                                                                                                     ET(20-Dec-21)

Flo Mobility raises $400,000 from DevX Venture Fund, others

Bengaluru: Flo Mobility, a startup building vision-based autonomous driving technologies for a range of vehicles, has raised $400,000 in funding from DevX Venture Fund, Venture Garage Angels and Blume Founders Fund, apart from other angels. Founded in 2019 by Manesh Jain and Mohan Sivam, the mobility startup is looking to provide autonomy-as-a-service and deploy its technology on everything from electric scooters to agri-weeders and even lawn mowers. It says its affordable, compute-lite and interoperable stack will also be able to be retrofitted to existing vehicles and equipment, allowing them to be operated autonomously or remotely.                ET(18-Dec-21)

Bureau raises $12 million Series A funding led by Quona

Moj and ShareChat parent Mohalla Tech and healthcare software-as-a-service (SaaS) firm Innovaccer were among the startups that raised funds this week. ShareChat parent raises $266 million Mohalla Tech, the parent company of Moj and ShareChat, raised $266 million as part of its Series G round, at a valuation of $3.7 billion. The investment was led by Alkeon Capital with participation from new and existing investors including Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. This is the third round of funding for the startup in 2021.                                                                                                                                                          ET(18-Dec-21)

Social commerce startup Gobillion nets $2.9 million funding led by YCombinator

Mumbai: Social commerce startup Gobillion has raised $2.9 million in seed funding round led by YCombinator, Tinder founder Justin Mateen, Pioneer Fund and others, the company said. The company will use the funds to ramp up its business expansion plans, launch more categories, and strengthen its operations, product development, and technology teams. Other marquee global investors who participated in the round include Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan (founder – LetsVenture) and Vikas Choudhury (president, Reliance Jio).                                   ET(17-Dec-21)

HealthQuad raises Rs 1,134.5 crore towards pre-final close of its second fund

An India-focussed healthcare venture capital firm run by Quadria Capital, has raised Rs 1,134.5 crore towards the pre-final close of its second fund. Its initial fund size was Rs 550 crore, with a green shoe option of a further Rs 550 crore. “The size of the fund is likely to increase by another 20-25% depending on investors’ agreement,” Charles-Antoine Janssen, cofounder and chief investment officer of HealthQuad, told ET.                  ET(17-Dec-21)

Risk investors put a record $6.8 billion into Indian startups in November: report

New Delhi: Investments by private equity (PE) and venture capital (VC) funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, a report by industry lobby IVCA and the consultancy EY showed. In the year-ago period, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data showed. Overall investments in the first 11 months of the year have touched $72.6 billion, which is 53% higher than the all-time high for a year achieved in 2020, it said. ET(16-Dec-21)

Atomberg bags $20 million in funding for new manufacturing facility

New Delhi: Consumer products-focused Atomberg Technologies on Thursday said it has raised $20 million for a new manufacturing facility, in a round led by Jungle Ventures. The round, which takes the overall funds raised by the company to $45 million since inception in 2012, also saw participation from Inflexor Ventures, and existing investors A91 Partners and angel investor Ramakant Sharma, as per an official statement. Apart from a new manufacturing facility at an undisclosed location, the funds raised will also be deployed for scaling research and development, distribution channels and brand building, it said. The company currently manufactures from a facility in Navi Mumbai which can produce 1.5 lakh fans a month.                                                          ET(16-Dec-21)

SoftBank leads $60 million funding in Juspay, valuation jumps to $460 million

New Delhi/Bengaluru: Payments technology startup Juspay on Wednesday said it has raised $60 million in a funding round led by SoftBank Vision Fund II. The round also saw participation from existing investors VEF and Wellington Management. While SoftBank has put $50 million in this round, the rest came from the existing investors, said Vimal Kumar, founder and CEO, Juspay. This is the first investment from SoftBank in an Indian payments firm after its portfolio firm Paytm NSE -7.76 % went public last month in what was a disappointing debut on the bourses.                                                                                                                                             ET(15-Dec-21)

Surgery startup Pristyn Care turns unicorn, plans to expand to 60-70 cities

Pristyn Care, a healthcare startup specialising in non-emergency surgeries, said that it will expand to 60-70 cities with the latest funds it raised. On Wednesday, the company said that it has raised $96 million in Series E funding, more than doubling its valuation in seven months to $1.4 billion. ET reported about the fundraising first on December 8, citing regulatory filings.                                                                                                         ET(15-Dec-21)

Fintech startup Uni raises $70 million led by General Catalyst

Bengaluru: Uni, a fintech startup offering pay-later solutions through its cards, has raised $70 million in one of the largest series A funding rounds. Started by former PayU India cofounder Nitin Gupta, the new funding is being led by General Catalyst. Eight Roads Ventures, Elevation Capital, Arbor Ventures have joined as new investors. Existing investors Lightspeed and Accel India also participated in this round, post which the Bengaluru-based startup is valued at $350 million compared to just about $45 million a year ago. Gupta said the startup will use the new funds to launch more products and scale monthly disbursements through its Uni cards.             ET(14-Dec-21)

Nestasia bags $4 million funding led by Stellaris Venture Partners

Online home decor and lifestyle brand Nestasia has raised $4 million in its Series A round, led by Stellaris Venture Partners. Several angel investors who are part of the Stellaris Founder Network, an exclusive group of more than 60 entrepreneurs and industry professionals, also participated in the round. These include Varun Alagh (CEO, MamaEarth), Sahil Barua (CEO, Delhivery), Anuj Srivastava and Ramakant Sharma (Founders, Livspace) and Dilip Khandelwal (Global CIO, Deutsche India).                                                                                                 ET(14-Dec-21)

Anur Cloud Technologies’ raises seed round from AIG Direct LLC

Chennai: Cloud based customer identity verification solution provider, Anur Cloud Technologies raised a seed round from AIG Direct LLC for an undisclosed amount which it intends to use to further expand its overseas presence and strengthen its capabilities in India. “We’re already in the Philippines and Indonesia and should have a reasonable presence in Dubai by December. We have already started coding in Uganda and other places in Africa.                                                                                                                                                            ET(13-Dec-21)

ETtech Deals Digest: Spinny, Pristyn Care enter unicorn club

India minted two unicorns this week as used car retailing platform Spinny and health technology startup Pristyn Care joined the coveted club of privately held companies valued at $1 billion or more. Spinny joins unicorn club Used car retailing platform Spinny raised $283 million, or about Rs 2,135 crore, in series E funding round led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth, which helped it join the unicorn club.           ET(13-Dec-21)

‘No conflict of interest’, Deepinder Goyal says, on Zomato’s investment in Shiprocket

Mumbai: ZomatoNSE – 3.90 % founder and chief executive Deepinder Goyal said he exited his personal investment in Shiprocket at zero profit before his company invested in the logistics startup as part of a larger funding round.In responding to a question raised by former Infosys director TV Mohandas Pai, Goyal put out a statement on Twitter, saying: “There was no conflict of interest to begin with. This personal This personal investment was one of the key reasons we got closer to Shiprocket (and its founders). That’s how we discovered that there was potential long-term strategic fit between the two companies.”                                        ET(10-Dec-21)

Blockchain startup Router Protocol gets $4.1 million from Coinbase Ventures, others

Router Protocol, a blockchain infrastructure project that allows interoperability between two independent blockchains, has raised $4.1 million from Coinbase Ventures, Woodstock Fund, QCP Capital and Alameda Research. A clutch of angel investors, which included Polygon’s cofounder Sandeep Nailwal, DoorDash Inc.’s Gokul Rajaram, Aave’s Ajit Tripathi, also participated in the fundraising.                                               ET(10-Dec-21)

Microsoft leads $27 million funding in crypto startup Palm NFT Studio

Crypto startup Palm NFT Studio said on Thursday it had raised $27 million in an early-stage funding round led by Microsoft Corp’s venture fund M12 with participation from venture firm Griffin Gaming Partners. Palm NFT, co-founded by Joseph Lubin, offers services for artists to establish NFT marketplaces. Lubin was also one of the co-founders of ethereum, the world’s most popular cryptocurrency after bitcoin.                                       ET(09-Dec-21)

Exponent Energy raises $5 million in funding led by YourNest VC

Exponent Energy, a startup developing fast-charging battery and charger technology for electric vehicles, has raised $5 million in funding led by YourNest VC, along with participation from 3one4 Capital, AdvantEdge VC and automotive component maker Motherson Group. Founded in 2020 by former Ather Energy executives Arun Vinayak and Sanjay Byalal Jagannath, the startup said it will utilise the capital to commercially deploy its charging and battery solutions in early 2022, starting in Bengaluru and then scaling it up to other cities.          ET(08-Dec-21)

Falcon Edge may invest $100 million in Pine Labs ahead of mid-2022 IPO

Bengaluru: Online payments and merchant solutions firm Pine Labs is in final stages of talks to raise $100 million from Falcon Edge after which it will be valued at around $5-5.5 billion, multiple sources told ET. According to people aware of its plans, Pine Labs is now looking to list in the US before the end of the first half of next year. The Sequoia Capital and Mastercard-backed Pine Labs is among the leading payments firms that’s popular for its merchant payments tool. In its effort to diversify it recently entered online payments.                         ET(08-Dec-21)

SaaS space heats up with big deals on horizon

Several bulge-bracket Software-as-a-Service (SaaS) deals are expected to be closed over the next few months as risk investors continue to back Indian cross-border enterprises building products that attract global clients. With dual bases in India and the US, Chargebee is in talks to raise new funds at valuations of around $3-3.5 billion, likely doubling from earlier this year, two people familiar with the matter told ET.                                 ET(06-Dec-21)

upGrad set to acquire Talentedge for Rs 350-400 crore

upGrad, the online higher education company co-owned by Ronnie Screwvala, is set to acquire Talentedge, India’s fourth largest online higher education company, for around Rs 350-400 crore. upGrad has entered into an exclusive agreement to acquire Arrina Education Services, the holding company of Talentedge Education Ventures, in what will be one of the larger consolidations in the Indian higher education space.         ET(06-Dec-21)

ETtech Deals Digest: Curefit, EatClub Brands raise funds

Health and fitness platform Curefit and cloud kitchen startup EatClub Brands were among the companies that raised funds this week. Curefit raises $145 million in funding Curefit Healthcare Pvt. Ltd., which operates fitness platform Cultfit, raised $145 million in a funding round led by food delivery company Zomato. Accel, South Park Commons, Singapore-based investment company Temasek Holdings Ltd, a few individuals, and Curefit’s cofounder Mukesh Bansal also participated in the fundraising according to regulatory filings sourced from business intelligence platform Tofler. Zomato infused $100 million, as part of its broader strategy to invest $1 billion in young firms.                                                                                                                                  ET(04-Dec-21)

Curefit raises $145 million in funding round led by Zomato

Mumbai: Curefit Healthcare Pvt. Ltd., which operates fitness platform Cultfit, has raised $145 million in a funding round led by food delivery company Zomato NSE -3.82 % Ltd. Accel, South Park Commons, Singapore-based investment company Temasek Holdings Ltd, a few individuals, and Curefit’s cofounder Mukesh Bansal also participated in the fundraising according to regulatory filings sourced from business intelligence platform Tofler. Zomato infused $100 million, as part of its broader strategy to invest $1 billion in young firms. Bansal, who previously founded online fashion retailer Myntra, invested $5 million.                                                  ET(04-Dec-21)

8i Ventures aims to raise larger second fund at $50 million

Mumbai: Mumbai-based 8i Ventures is looking to raise a $50 million second fund – Fund-II – about four times larger than its previous corpus, as it seeks to double down on investments across commerce and fintech firms. Founded in 2019 by entrepreneur and angel investor Vikram Chachra along with Vishwanath V, 8i Ventures has backed seven early-stage startups from its maiden $13 million Fund-I.                                                  ET(03-Dec-21)

CollegeDekho raises $35 million, to expand education offerings

New Delhi: Online higher education platform CollegeDekho on Wednesday said it has closed its Series B funding of $35 million to further improve its offerings for students and colleges, both within India and abroad. The round was led by Winter Capital, ETS Strategic Capital, Calega and existing investor Man Capital. Disrupt ADQ and QIC also came on board.                                                                                                                                     ET(03-Dec-21)

BOX8 parent EatClub Brands raises $40 million from Tiger Global

Cloud kitchen startup EatClub Brands – formerly known as BOX8 – has raised $40 million from New York-based investment firm Tiger Global. The company has been valued at $340 million following the funding round, sources familiar with the deal said. Mumbai-based EatClub Brands operates eight brands, including BOX8 and MOJO Pizza, and is present in five cities including Mumbai, Bengaluru and Pune. It operates 150 kitchens.ET(02-Dec-21)

Edtech startup NxtWave raises $2.8 million from Orios, Better Capital

Mumbai: NxtWave, a Hyderabad-based education technology startup, has raised $2.8 million in a funding round led by Orios Venture Partners and Better Capital. A clutch of angel investors—including LivSpace founder Ramakant Sharma, CarDekho’s Umang Kumar and Anupam Mittal of Shaadi.com—participated in the fundraising. The fresh capital will be used by the firm for hiring, product development and fuelling its expansion to grow its revenue by five times over the next 12 months, according to a statement on Wednesday.                   ET(02-Dec-21)

InstaAstro raises Rs 3 crore from Artha Venture Fund, others

New Delhi: Wellness and spiritual services platform InstaAstro on Tuesday said it has raised Rs 3 crore in a seed round led by Artha Venture Fund. The round also saw participation from LogX Ventures. The company will utilise the funds for product development, marketing and add a gamut of services, InstaAstro said in a statement. “We were impressed by the team at InstaAstro and how they have leveraged new-age technology to help consumers resolve their real-life problems in a structured manner,” Artha Venture Fund Managing Partner Anirudh A Damani said.                                                                                                                                                               ET(01-Dec-21)

Adda247 raises $20 million in funding round led by WestBridge Capital

Adda247, an edtech startup that offers courses for securing jobs in public sector banks, government departments and Indian Railways, has raised $20 million in a funding round led by WestBridge Capital. Its existing investors—including Info Edge (India) Ltd., Asha Impact and JM Financial—also participated in the fundraising. The new capital will be used by the company to strengthen its technology as well as for hiring in senior roles, according to a statement issued on Tuesday. It is also exploring potential acquisitions that can complement its existing offerings.                                                                                                                                                       ET(01-Dec-21)

Bessemer Venture Partners raises $220 million India-focused fund

Bessemer Venture Partners, one of the oldest early-stage investors in the region, has for the first time raised a dedicated India-focused fund of $220 million. The company first started investing in India 15 years back. The change in strategy comes amidst unprecedented flow of liquidity into the Indian new age economy companies this year by risk investors who are taking bigger and bolder bets on the companies here. “The fund will focus primarily on early-stage investments, backing companies through seed to growth-stage rounds,” senior company officials told ET.                                                                                                                                            ET(30-Nov-21)

Swiggy in talks to invest in Rapido as part of a larger financing round

Bengaluru: Food-delivery company Swiggy is in the final stages of discussions to invest in Bangalore-based bike-taxi startup Rapido, two people in the know of the matter told ET. If the investment deal goes through it will help Swiggy enhance its last-mile delivery capabilities and bolster its quick commerce ambitions. The funding will also be Swiggy’s first bet in the mobility sector. The capital infusion from Swiggy is part of a larger financing round of $150-200 million that Rapido is in talks to raise. Swiggy declined to comment on the development.   ET(24-Dec-21)

Distribution startup Ripplr raises $12 million in debt, equity

Mumbai: Distribution and logistics startup Ripplr has raised $12 million (around Rs 90 crore) in a funding round with a mix of equity and debt from Japanese firm Sojitz Corporation and Stride Ventures. The pre-series- B funding round also saw participation from existing investors 3one4 Capital, Zephyr Peacock India Growth Fund, and Chand Family Office. The Bengaluru startup had raised $3 million series-A round in January 2021. Angels who support early-stage investments such as the Licious founders Vivek and Abhay; and the Kaleyra founders Aniketh and Ashish, also participated, the Bengaluru startup said.                                                         ET(24-Dec-21)

IIFL Fintech Fund to invest Rs 300 crore in early-stage fintech startups

IIFL Fintech Fund is planning to invest Rs 300 crore in early-stage Indian fintech startups in the next two years to facilitate the creation of affordable products and technologies that aid financial inclusion. The fund was set up in August 2021 with Rs 140 crore sponsorship from two IIFL Group firms—IIFL Finance and IIFL Securities NSE 0.79 %. It has invested in four fintech startups—Leegality, FinBox, Trendlyne and DataSutram—in the first three months of its existence and is in advanced stages of discussion to invest in 10 more by the end of the current fiscal.                                                                                                                                                             ET(23-Dec-21)

Exclusive | Neobank Open expected to enter unicorn club with new funding of $100-150 million

Bengaluru: The stampede of unicorns continues even in the last few days of the year, with one more startup on its way to join the not-so-rarified club of companies valued at $1 billion and more. Sources told us that the Google-backed neobank Open is in advanced stages of talks to close a fresh funding round of $100-150 million after which it will be valued at $1.1-1.3 billion. If the deal goes through, Open’s valuation will more than double in two months since it closed its previous $100 million fundraise from Temasek Holdings, Google, Visa and others in October. The Bengaluru-based company was valued at $500 million at the time.                                  ET(23-Dec-21)

Jumbotail raises $85 million Series C round

Jumbotail, a business-to-business e-commerce company that supplies groceries to mom-and-pop stores, said that it has raised a Series C round of $85 million. The funding was led by Artal Asia Pte. Ltd., an affiliate of Invus, a global equity investment firm with over $10 billion of evergreen capital under management. Ajax Capital, the family office of veteran FMCG entrepreneur Ajay Gupta, also participated in the round. This Series C round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits in the secondary. This takes the total capital raised by the company to $125M. The company did not disclose the valuation.                                                                                                    ET(22-Dec-21)

Captain Fresh receives $40 million from Tiger Global, Prosus Ventures

Bengaluru: Captain Fresh, a business-to-business (B2B) online marketplace for seafood, has raised $40 million in a new round of funding co-led by Tiger Global and Prosus Ventures (formerly Naspers Ventures). Post this funding, Bengaluru-based Captain Fresh has seen its valuation jump four times to around $200 million compared to its last funding round of $12 million in July led by Accel India, founder and CEO, Utham Gowda said. Existing investors Accel India, Matrix Partners India, Ankur Capital, and Incubate Fund have also participated in this round. In total, the startup has now raised around $55 million.                                                                ET(22-Dec-21)

Zepto gets $100 million, valuation at $570 million

Signalling the frenetic dealmaking in the so-called ultrafast delivery segment, Mumbai-based Zepto has raised $100 million led by its existing investor Silicon Valley startup incubator Y Combinator’s Continuity Fund. The Mumbai-based company, which is among the most buzzy startups this year, has more than doubled its valuation to $570 million post the funding in just two months when it last raised $60 million at a valuation of $225 million. New and existing backers including Glade Brook Capital, Nexus Venture Partners, Global Founders Capital, and Contrary Capital, also participated in the round.                                                                                       ET(21-Dec-21)

Bizongo raises $110 million from Tiger Global, others at $600-million valuation

Bengaluru: Bizongo, a business-to-business ecommerce and supply chain enablement platform, has raised $110 million in a new funding round led by New York-based Tiger Global, taking its valuation to $600 million. The Mumbai-based company also said it has launched a new product — a ‘cloud factory’ powered by internet of things (IoT) devices. This, the company said, will help manufacturers provide their customers with real-time data on their supply chain.                                                                                                                                                ET(21-Dec-21)

Used vehicle seller Cars24 raises new financing as valuation jumps to $3.3 billion

An online platform that sells used cars, has closed a $400 million financing round led by Alpha Wave Global, formerly Falcon Edge Capital. This includes a $100 million debt component that has been sourced from investors like the Commercial Bank of Dubai and IFM Investors in Australia. Post the funding, Cars24’s valuation has jumped over 80% to $3.3 billion compared to its previous funding in September. The company had closed a $450 million capital raise which was led by the likes of SoftBank Vision Fund, Alpha Wave Global and Yuri Milner’s DST Global. The Gurgaon-headquartered company was valued at $1.8 billion back then.                            ET(20-Dec-21)

Razorpay’s valuation rises to $7.5 billion after $375-million funding

Razorpay has raised $375 million (Rs 2,850 crore) in a new funding round led by US-based investors TCV, Lone Pine Capital and Alkeon Capital, after which its valuation has grown to $7.5 billion—a jump of two-and-a-half times in eight months. The Bengaluru-based payments gateway platform had in April this year raised $160 million at a post-money valuation of $3 billion. The company has seen a seven-fold increase in its valuation in a little over a year since it turned unicorn.                                                                                                                     ET(20-Dec-21)

Flo Mobility raises $400,000 from DevX Venture Fund, others

Bengaluru: Flo Mobility, a startup building vision-based autonomous driving technologies for a range of vehicles, has raised $400,000 in funding from DevX Venture Fund, Venture Garage Angels and Blume Founders Fund, apart from other angels. Founded in 2019 by Manesh Jain and Mohan Sivam, the mobility startup is looking to provide autonomy-as-a-service and deploy its technology on everything from electric scooters to agri-weeders and even lawn mowers. It says its affordable, compute-lite and interoperable stack will also be able to be retrofitted to existing vehicles and equipment, allowing them to be operated autonomously or remotely.                ET(18-Dec-21)

Bureau raises $12 million Series A funding led by Quona

Moj and ShareChat parent Mohalla Tech and healthcare software-as-a-service (SaaS) firm Innovaccer were among the startups that raised funds this week. ShareChat parent raises $266 million Mohalla Tech, the parent company of Moj and ShareChat, raised $266 million as part of its Series G round, at a valuation of $3.7 billion. The investment was led by Alkeon Capital with participation from new and existing investors including Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. This is the third round of funding for the startup in 2021.                                                                                                                                                          ET(18-Dec-21)

Social commerce startup Gobillion nets $2.9 million funding led by YCombinator

Mumbai: Social commerce startup Gobillion has raised $2.9 million in seed funding round led by YCombinator, Tinder founder Justin Mateen, Pioneer Fund and others, the company said. The company will use the funds to ramp up its business expansion plans, launch more categories, and strengthen its operations, product development, and technology teams. Other marquee global investors who participated in the round include Soma Capital, Goodwater Capital, Olive Tree Capital, Chris Golda Investments, Oliver Jung, Venture Souq, Shanti Mohan (founder – LetsVenture) and Vikas Choudhury (president, Reliance Jio).                                   ET(17-Dec-21)

HealthQuad raises Rs 1,134.5 crore towards pre-final close of its second fund

An India-focussed healthcare venture capital firm run by Quadria Capital, has raised Rs 1,134.5 crore towards the pre-final close of its second fund. Its initial fund size was Rs 550 crore, with a green shoe option of a further Rs 550 crore. “The size of the fund is likely to increase by another 20-25% depending on investors’ agreement,” Charles-Antoine Janssen, cofounder and chief investment officer of HealthQuad, told ET.                  ET(17-Dec-21)

Risk investors put a record $6.8 billion into Indian startups in November: report

New Delhi: Investments by private equity (PE) and venture capital (VC) funds in November stood at $6.8 billion across 102 deals, which is double by value when compared with the pandemic-impacted year-ago period but half of the bets in the preceding month of October, a report by industry lobby IVCA and the consultancy EY showed. In the year-ago period, such high-risk investors had infused $3.9 billion, while in October, the total investments had stood at $13.1 billion, the monthly data showed. Overall investments in the first 11 months of the year have touched $72.6 billion, which is 53% higher than the all-time high for a year achieved in 2020, it said. ET(16-Dec-21)

Atomberg bags $20 million in funding for new manufacturing facility

New Delhi: Consumer products-focused Atomberg Technologies on Thursday said it has raised $20 million for a new manufacturing facility, in a round led by Jungle Ventures. The round, which takes the overall funds raised by the company to $45 million since inception in 2012, also saw participation from Inflexor Ventures, and existing investors A91 Partners and angel investor Ramakant Sharma, as per an official statement. Apart from a new manufacturing facility at an undisclosed location, the funds raised will also be deployed for scaling research and development, distribution channels and brand building, it said. The company currently manufactures from a facility in Navi Mumbai which can produce 1.5 lakh fans a month.                                                          ET(16-Dec-21)

SoftBank leads $60 million funding in Juspay, valuation jumps to $460 million

New Delhi/Bengaluru: Payments technology startup Juspay on Wednesday said it has raised $60 million in a funding round led by SoftBank Vision Fund II. The round also saw participation from existing investors VEF and Wellington Management. While SoftBank has put $50 million in this round, the rest came from the existing investors, said Vimal Kumar, founder and CEO, Juspay. This is the first investment from SoftBank in an Indian payments firm after its portfolio firm Paytm NSE -7.76 % went public last month in what was a disappointing debut on the bourses.                                                                                                                                             ET(15-Dec-21)

Surgery startup Pristyn Care turns unicorn, plans to expand to 60-70 cities

Pristyn Care, a healthcare startup specialising in non-emergency surgeries, said that it will expand to 60-70 cities with the latest funds it raised. On Wednesday, the company said that it has raised $96 million in Series E funding, more than doubling its valuation in seven months to $1.4 billion. ET reported about the fundraising first on December 8, citing regulatory filings.                                                                                                         ET(15-Dec-21)

Fintech startup Uni raises $70 million led by General Catalyst

Bengaluru: Uni, a fintech startup offering pay-later solutions through its cards, has raised $70 million in one of the largest series A funding rounds. Started by former PayU India cofounder Nitin Gupta, the new funding is being led by General Catalyst. Eight Roads Ventures, Elevation Capital, Arbor Ventures have joined as new investors. Existing investors Lightspeed and Accel India also participated in this round, post which the Bengaluru-based startup is valued at $350 million compared to just about $45 million a year ago. Gupta said the startup will use the new funds to launch more products and scale monthly disbursements through its Uni cards.             ET(14-Dec-21)

Nestasia bags $4 million funding led by Stellaris Venture Partners

Online home decor and lifestyle brand Nestasia has raised $4 million in its Series A round, led by Stellaris Venture Partners. Several angel investors who are part of the Stellaris Founder Network, an exclusive group of more than 60 entrepreneurs and industry professionals, also participated in the round. These include Varun Alagh (CEO, MamaEarth), Sahil Barua (CEO, Delhivery), Anuj Srivastava and Ramakant Sharma (Founders, Livspace) and Dilip Khandelwal (Global CIO, Deutsche India).                                                                                                 ET(14-Dec-21)

Anur Cloud Technologies’ raises seed round from AIG Direct LLC

Chennai: Cloud based customer identity verification solution provider, Anur Cloud Technologies raised a seed round from AIG Direct LLC for an undisclosed amount which it intends to use to further expand its overseas presence and strengthen its capabilities in India. “We’re already in the Philippines and Indonesia and should have a reasonable presence in Dubai by December. We have already started coding in Uganda and other places in Africa.                                                                                                                                                            ET(13-Dec-21)

ETtech Deals Digest: Spinny, Pristyn Care enter unicorn club

India minted two unicorns this week as used car retailing platform Spinny and health technology startup Pristyn Care joined the coveted club of privately held companies valued at $1 billion or more. Spinny joins unicorn club Used car retailing platform Spinny raised $283 million, or about Rs 2,135 crore, in series E funding round led by Abu Dhabi-based ADQ, Tiger Global and Avenir Growth, which helped it join the unicorn club.           ET(13-Dec-21)

‘No conflict of interest’, Deepinder Goyal says, on Zomato’s investment in Shiprocket

Mumbai: ZomatoNSE – 3.90 % founder and chief executive Deepinder Goyal said he exited his personal investment in Shiprocket at zero profit before his company invested in the logistics startup as part of a larger funding round.In responding to a question raised by former Infosys director TV Mohandas Pai, Goyal put out a statement on Twitter, saying: “There was no conflict of interest to begin with. This personal This personal investment was one of the key reasons we got closer to Shiprocket (and its founders). That’s how we discovered that there was potential long-term strategic fit between the two companies.”                                        ET(10-Dec-21)

Blockchain startup Router Protocol gets $4.1 million from Coinbase Ventures, others

Router Protocol, a blockchain infrastructure project that allows interoperability between two independent blockchains, has raised $4.1 million from Coinbase Ventures, Woodstock Fund, QCP Capital and Alameda Research. A clutch of angel investors, which included Polygon’s cofounder Sandeep Nailwal, DoorDash Inc.’s Gokul Rajaram, Aave’s Ajit Tripathi, also participated in the fundraising.                                               ET(10-Dec-21)

Microsoft leads $27 million funding in crypto startup Palm NFT Studio

Crypto startup Palm NFT Studio said on Thursday it had raised $27 million in an early-stage funding round led by Microsoft Corp’s venture fund M12 with participation from venture firm Griffin Gaming Partners. Palm NFT, co-founded by Joseph Lubin, offers services for artists to establish NFT marketplaces. Lubin was also one of the co-founders of ethereum, the world’s most popular cryptocurrency after bitcoin.                                       ET(09-Dec-21)

Exponent Energy raises $5 million in funding led by YourNest VC

Exponent Energy, a startup developing fast-charging battery and charger technology for electric vehicles, has raised $5 million in funding led by YourNest VC, along with participation from 3one4 Capital, AdvantEdge VC and automotive component maker Motherson Group. Founded in 2020 by former Ather Energy executives Arun Vinayak and Sanjay Byalal Jagannath, the startup said it will utilise the capital to commercially deploy its charging and battery solutions in early 2022, starting in Bengaluru and then scaling it up to other cities.          ET(08-Dec-21)

Falcon Edge may invest $100 million in Pine Labs ahead of mid-2022 IPO

Bengaluru: Online payments and merchant solutions firm Pine Labs is in final stages of talks to raise $100 million from Falcon Edge after which it will be valued at around $5-5.5 billion, multiple sources told ET. According to people aware of its plans, Pine Labs is now looking to list in the US before the end of the first half of next year. The Sequoia Capital and Mastercard-backed Pine Labs is among the leading payments firms that’s popular for its merchant payments tool. In its effort to diversify it recently entered online payments.                         ET(08-Dec-21)

SaaS space heats up with big deals on horizon

Several bulge-bracket Software-as-a-Service (SaaS) deals are expected to be closed over the next few months as risk investors continue to back Indian cross-border enterprises building products that attract global clients. With dual bases in India and the US, Chargebee is in talks to raise new funds at valuations of around $3-3.5 billion, likely doubling from earlier this year, two people familiar with the matter told ET.                                 ET(06-Dec-21)

upGrad set to acquire Talentedge for Rs 350-400 crore

upGrad, the online higher education company co-owned by Ronnie Screwvala, is set to acquire Talentedge, India’s fourth largest online higher education company, for around Rs 350-400 crore. upGrad has entered into an exclusive agreement to acquire Arrina Education Services, the holding company of Talentedge Education Ventures, in what will be one of the larger consolidations in the Indian higher education space.         ET(06-Dec-21)

ETtech Deals Digest: Curefit, EatClub Brands raise funds

Health and fitness platform Curefit and cloud kitchen startup EatClub Brands were among the companies that raised funds this week. Curefit raises $145 million in funding Curefit Healthcare Pvt. Ltd., which operates fitness platform Cultfit, raised $145 million in a funding round led by food delivery company Zomato. Accel, South Park Commons, Singapore-based investment company Temasek Holdings Ltd, a few individuals, and Curefit’s cofounder Mukesh Bansal also participated in the fundraising according to regulatory filings sourced from business intelligence platform Tofler. Zomato infused $100 million, as part of its broader strategy to invest $1 billion in young firms.                                                                                                                                  ET(04-Dec-21)

Curefit raises $145 million in funding round led by Zomato

Mumbai: Curefit Healthcare Pvt. Ltd., which operates fitness platform Cultfit, has raised $145 million in a funding round led by food delivery company Zomato NSE -3.82 % Ltd. Accel, South Park Commons, Singapore-based investment company Temasek Holdings Ltd, a few individuals, and Curefit’s cofounder Mukesh Bansal also participated in the fundraising according to regulatory filings sourced from business intelligence platform Tofler. Zomato infused $100 million, as part of its broader strategy to invest $1 billion in young firms. Bansal, who previously founded online fashion retailer Myntra, invested $5 million.                                                  ET(04-Dec-21)

8i Ventures aims to raise larger second fund at $50 million

Mumbai: Mumbai-based 8i Ventures is looking to raise a $50 million second fund – Fund-II – about four times larger than its previous corpus, as it seeks to double down on investments across commerce and fintech firms. Founded in 2019 by entrepreneur and angel investor Vikram Chachra along with Vishwanath V, 8i Ventures has backed seven early-stage startups from its maiden $13 million Fund-I.                                                  ET(03-Dec-21)

CollegeDekho raises $35 million, to expand education offerings

New Delhi: Online higher education platform CollegeDekho on Wednesday said it has closed its Series B funding of $35 million to further improve its offerings for students and colleges, both within India and abroad. The round was led by Winter Capital, ETS Strategic Capital, Calega and existing investor Man Capital. Disrupt ADQ and QIC also came on board.                                                                                                                                     ET(03-Dec-21)

BOX8 parent EatClub Brands raises $40 million from Tiger Global

Cloud kitchen startup EatClub Brands – formerly known as BOX8 – has raised $40 million from New York-based investment firm Tiger Global. The company has been valued at $340 million following the funding round, sources familiar with the deal said. Mumbai-based EatClub Brands operates eight brands, including BOX8 and MOJO Pizza, and is present in five cities including Mumbai, Bengaluru and Pune. It operates 150 kitchens.ET(02-Dec-21)

Edtech startup NxtWave raises $2.8 million from Orios, Better Capital

Mumbai: NxtWave, a Hyderabad-based education technology startup, has raised $2.8 million in a funding round led by Orios Venture Partners and Better Capital. A clutch of angel investors—including LivSpace founder Ramakant Sharma, CarDekho’s Umang Kumar and Anupam Mittal of Shaadi.com—participated in the fundraising. The fresh capital will be used by the firm for hiring, product development and fuelling its expansion to grow its revenue by five times over the next 12 months, according to a statement on Wednesday.                   ET(02-Dec-21)

InstaAstro raises Rs 3 crore from Artha Venture Fund, others

New Delhi: Wellness and spiritual services platform InstaAstro on Tuesday said it has raised Rs 3 crore in a seed round led by Artha Venture Fund. The round also saw participation from LogX Ventures. The company will utilise the funds for product development, marketing and add a gamut of services, InstaAstro said in a statement. “We were impressed by the team at InstaAstro and how they have leveraged new-age technology to help consumers resolve their real-life problems in a structured manner,” Artha Venture Fund Managing Partner Anirudh A Damani said.                                                                                                                                                               ET(01-Dec-21)

Adda247 raises $20 million in funding round led by WestBridge Capital

Adda247, an edtech startup that offers courses for securing jobs in public sector banks, government departments and Indian Railways, has raised $20 million in a funding round led by WestBridge Capital. Its existing investors—including Info Edge (India) Ltd., Asha Impact and JM Financial—also participated in the fundraising. The new capital will be used by the company to strengthen its technology as well as for hiring in senior roles, according to a statement issued on Tuesday. It is also exploring potential acquisitions that can complement its existing offerings.                                                                                                                                                       ET(01-Dec-21)

Bessemer Venture Partners raises $220 million India-focused fund

Bessemer Venture Partners, one of the oldest early-stage investors in the region, has for the first time raised a dedicated India-focused fund of $220 million. The company first started investing in India 15 years back. The change in strategy comes amidst unprecedented flow of liquidity into the Indian new age economy companies this year by risk investors who are taking bigger and bolder bets on the companies here. “The fund will focus primarily on early-stage investments, backing companies through seed to growth-stage rounds,” senior company officials told ET.                                                                                                                                            ET(30-Nov-21)

Silicon Valley crypto fund Draper Dragon eyes India debut

Mumbai: Silicon Valley-based Draper Dragon Fund, an early backer of Nasdaq-listed crypto exchange Coinbase Global Inc., is entering India amid regulatory uncertainty around the future of blockchain technology and crypto trading. The fund is likely to invest anywhere from $75 million to $100 million in Indian blockchain and crypto startups, people close to the development told ET.                                                                                   ET(30-Nov-21)

Slice turns unicorn after raising $220 million from Tiger Global, Insight Partners

Bengaluru: Slice, a new-age credit card startup which offers flexibility to pay bills, manage expenses and give reward points, said it has raised $220 million in new funding led by US-based investors Tiger Global and Insight Partners. Post this funding, the Bengaluru-based startup is valued at over $1 billion—a five times increase since its previous funding round six months ago. Advent International’s Sunley House Capital, Moore Strategic Ventures and Anfa are among its new investors joining the funding round that minted the latest unicorn taking the total number of members in this club to 37 this year, so far.                                                                    ET(29-Nov-21)

Cars24 may hit $3 billion valuation in new funding round

Mumbai/Bengaluru: Cars24, an online platform for selling used cars, is in advanced stages of talks to close a $250-300 million funding led by its existing investor Falcon Edge, multiple sources briefed on the matter said. If the round goes through, Cars24’s valuation is likely to increase to $3-3.3 billion, up from $1.84 billion in September when it closed a $450 million financing from SoftBank Vision Fund II, Falcon Edge and Yuri Milner’s DST Global.                                                                                                                                                   ET(29-Nov-21)

Upstox may hit $3 billion valuation in new funding round led by Tiger Global

Mumbai: Tiger Global, one of the most aggressive backers of Indian startups, is doubling down on the domestic online investment and stock brokerage market. The New York-based investment fund is in talks to lead a $150-200 million funding round in Upstox, according to people briefed on the matter. Tiger Global is an existing investor in the company with 31% stake.                                                                                                                      ET(26-Nov-21)

Karan Johar, Yuvraj Singh and others invest in Nothing

Consumer technology brand Nothing on Tuesday said its $50 million funding round announced last month had seen participation from film producer Karan Johar, cricketer Yuvraj Singh and others. In October, Nothing had announced completion of a series-A extension of $50 million (around Rs 376 crore) from strategic and private investors. At that time, it had not commented on the full list of investors.                                              ET(26-Nov-21)

Indifi Technologies raises Rs 340 crore in Series D funding round

Mumbai: Digital financial services company Indifi Technologies has raised Rs 340 crore in its Series D funding round. The funding includes an equity component of Rs 140 crore led by CX Partners and OP Finnfund Global Impact Fund I, and Rs 200 crore in debt financing from Vivriti, Northern Arc, SIDBI, and other lenders, the company said. The company may extend its Series D round by raising more capital, it said.               ET(25-Nov-21)

EV maker Simple Energy gets $21 million funding

Mumbai: Bengaluru-based EV maker Simple Energy on Wednesday said it has raised $21 million (around Rs 156 crore) in a funding round. The aim was to raise $15 million in fundraising, but immense investor interest resulted in the company mopping up more capital in the pre-series investment round, Simple Energy said in a statement. The over-subscribed funding round was driven by the company’s current investors and board members, Manish Bharti of UiPath and Raghunath Subramanian, Non-executive Chairman, UiPath India, respectively. ET(25-Nov-21)

Firstcry’s roll-up platform GlobalBees invests in three startups

New Delhi: GlobalBees, a direct-to-consumer (D2C) brand roll-up platform from the Firstcry stable, said it has invested in three startups. With investments in Healthyhey, Rey Naturals and Intellilens, the firm has made its foray into health & sports supplements and intelligent eyewear categories. As part of the deal, the founders and the respective teams of the three brands Healthyhey, Rey Naturals and Intellilens will become a part of GlobalBees.                                                                                                                                                  ET(24-Nov-21)

CoreStack raises $30 million in Series B funding

CoreStack, a multi-cloud governance SaaS provider, said it has raised $30 million in Series B funding round led by Avatar Growth Capital, with continued participation from Dallas Venture Capital (DVC), Iron Pillar, and other angel investors. This brings CoreStack’s total funding to $45 million, following its Series A in March 2020. The funding will be used for growth, expanding into newer markets and also for innovation.                     ET(24-Nov-21)

Zenwork lands Rs 1,200 crore in funding from US-based Spectrum Equity

Hyderabad-based Zenwork, a software-as-a-service (SaaS) platform for digital tax compliance and regulatory reporting for businesses, has raised Rs 1,200 crore in funding from US-based growth equity firm Spectrum Equity, as it looks to expand its operations beyond the US and into Europe and Asia. The over 10-year old company founded by husband and wife duo Sanjeev Singh and Rekha Singh, had remained bootstrapped until now, but said it required capital to take advantage of the massive growth in the automated tax compliance and regulatory reporting space due to the Covid-19 pandemic.                                                                                        ET(23-Nov-21)

Pokemon Go creator Niantic valued at $9 billion after Coatue’s investment

Niantic Inc., the augmented reality (AR) platform behind Pokemon Go, raised $300 million from hedge fund Coatue at a valuation of $9 billion, the company said in a blog post coatue on Monday. The company, spun off from Alphabet Inc’s Google in 2015 and led by former Google executive John Hanke, plans to use the funds to expand its recently launched Lightship platform to help developers with their AR creations and build their visions for “the Real-World Metaverse”.                                                                                                                  ET(23-Nov-21)

Zvolv raises $1.5 million in round led by JSW Ventures

Pune: Enterprise SaaS platform Zvolv said it has raised $1.5 million in a round led by JSW Ventures, a tech focused venture capital fund. The round also saw participation from Riso Capital, a Silicon Valley-based VC fund that invests in India-based startups. Zvolv plans to use the funds to expand its customer base globally, drive rapid adoption in an increasingly work-from-anywhere world, as well as double down building out the AI/ML capabilities in the platform.                                                                                                                                             ET(22-Nov-21)

Sleepy Owl raises $6.5 million in Series A funding round

Mumbai: Sleepy Owl, a direct-to-consumer coffee brand, has raised $6.5 million in Series A funding round led by existing investor Rukam Capital and DSG Consumer Partners. The fresh capital will be used by the company to beef up its core team, build a robust distribution network across India, and for marketing, according to a statement.                                                                                                                                                     ET(22-Nov-21)

Purplle raises $60 million from Premji Invest at $630-million valuation

Mumbai: Ecommerce beauty platform Purplle has raised $60 million from Premji Invest, the family office of Wipro founder chairman Azim Premji, valuing the direct-to-consumer brand at $630 million, regulatory filings showed. Kedaara Capital invested $75 million in the company last fortnight. Purplle is expected to utilise the fresh funds for acquisitions and its offline retail push.                                                                                                 ET(20-Nov-21)

Mindhouse gets $6-million seed funding from Binny Bansal, others

Mumbai: Mindhouse, a Gurugram-based curative wellness platform, has raised $6 million (about Rs 45 crore) in a seed funding round led by Flipkart’s cofounder Binny Bansal. General Catalyst, Better Capital, Kwaish Capital, Anicut, and Mindhouse founders Pooja Khanna and Pankaj Chaddah participated in the fundraising, as did a clutch of angel investors.                                                                                                                             ET(20-Nov-21)

Trifecta Capital raises Rs 750 crore in first close of third fund

Trifecta Capital has raised Rs 750 crore towards the first close of its third fund, Trifecta Venture Debt Fund, within two months of launch. The fundraising comes at a time when the domestic capital pool has expanded and is competing with global risk money to get a meaningful share of India’s growth story. The total fund size of the third fund is Rs 1,000 crore, with a green shoe option of Rs 500 crore, which the firm is likely to mop up by the end of the current financial year.                                                                                                                            ET(19-Nov-21)

Edtech platform Inzpira raises Rs 2.3 crore in seed round

AI-enabled on-demand live language learning and soft skills training platform Inzpira has announced that it has raised Rs. 2.3 crore as part of its seed round, said a statement issued today. The current round was led by angel investors Raj Nair, chairman, Avalon Consulting, and Gopinath Latpate, executive director, JLL. The startup plans to utilise the fresh funds to improve its tech platform, enhance brand presence and expand its customer base.                                                                                                                                                                               ET(19-Nov-21)

Vaibhav Domkundwar’s Better Capital raises $15.28 million maiden fund

Mumbai: Better Capital, a venture capital firm run by Silicon Valley entrepreneur Vaibhav Domkundwar, has raised its maiden fund of $15.28 million to scale its pre-seed and seed investment strategy, the company said. Domkundwar is a solo general partner (GP) at Better Capital, unlike most venture capital funds which run as a partnership among a few executives. The fund—Better Capital Ventures I—is backed by founders, operators and investors who are former or current leaders at Meta Platforms (Facebook), Google, Uber, LinkedIn, Tiger Global, TPG, as well as other top 10 growth venture and hedge funds, it said.                                                   ET(18-Nov-21)

Disprz bags $13 million funding led by Dallas Venture Capital, Mars Growth Capital

Enterprise skilling startup Disprz has raised $13 million in its Series B funding round, led by Dallas Venture Capital and Mars Growth Capital. Existing investors Go1 (an Australian unicorn in this space), Tara India Fund IV being managed by KOIS, Auctus Capital (the family office of Vikas Phadnis, cofounder of Euro Kids) and Kae Capital (a leading seed fund) also participated in the round, the company said.                                   ET(18-Nov-21)

Velocity.in bags $20 million in funding led by Peter Thiel’s Valar Ventures

Velocity.in, a revenue-based financing startup, has raised $20 million in a Series A funding round led by Peter Thiel’s Valar Ventures. The firm plans to deploy over Rs 1000 crores in India’s e-commerce brands, it said in a release. Other investors who participated in the round include Presight Capital, Utsav Somani’s iSeed, Maninder Gulati (Oyo), Zac Prince (BlockFi) and Philippe De Mota (Hedosophia).                                                 ET(17-Nov-21)

PE, VC investments touch all-time high of $12.9 billion in October: Report

Private equity (PE) and venture capital (VC) investments touched an all-time high of $12.9 billion in October, on the back of high-value deals, a report said on Tuesday. The investments were 71% higher as compared with October 2020’s $7.5 billion and 2.5 times the $5.2 billion value recorded in September this year, the report by consultancy firm EY and industry lobby IVCA said. By the number of transactions, the 127 deals in October were higher than the 92 in last October but lower when compared with September’s 134.                            ET(17-Nov-21)

British electric truck startup Tevva raises $57 million in funding

London: British electric truck startup Tevva said on Tuesday it had raised $57 million in its latest funding round to ramp up production at its new London plant and deliver its first vehicles to customers by the end of 2022. Tevva has now raised more than $90 million. The British truck maker will have two zero-emission 7.5 tonne (7,500 kg) models available for customers – a battery electric model with a range of 160 miles (257 km), and an electric truck with a small reserve hydrogen fuel cell to boost its range to 310 miles if needed.                                 ET(16-Nov-21)

StartPack rebrands as doola, raises $3 million from Nexus, others

Mumbai: StartPack, a New York-based firm that helps entrepreneurs set up shop in the US, has rebranded as doola and raised $3 million in a seed funding round led by Nexus Venture Partners. Silicon Valley-based accelerator Y Combinator participated in the fundraising, as did Hustle Fund, Psion Capital, Translink Investment and a clutch of angel investors. The capital will be used to scale the team and further invest in product and engineering.                                                                                                                                                  ET(16-Nov-21)

3one4 Capital to increase size of its third fund to almost Rs 1,500 crore

Early-stage venture capital firm 3one4 Capital is looking to increase the fund size of its third fund to almost Rs 1,500 crore from Rs 750 crore, owing to unprecedented investor interest, a senior executive said. This follows a trend of venture capital funds mopping up larger corpuses amid frenetic deal making. The fund has already surpassed Rs 1,000 crore owing to oversubscription from investors. It had announced its first close in September 2020.                                                                                                                                                              ET(15-Nov-21)

EV charging platform ElectricPe gets $3 million in seed funding

Mumbai: ElectricPe, an electric-vehicle charging platform, has raised $3 million in a seed funding round led by Blume Ventures and Micelio Fund. A clutch of angel investors, including Ashish Goel of Urban Ladder and OfBusiness’ Bhuvan Gupta, participated in the fundraising. The capital will be used by the company to develop its “deep-tech platform” and enable access to affordable charging points via the ElectricPe app.            ET(15-Nov-21)

Online travel platform EaseMyTrip announces 50% dividend, its second since listing

New Delhi: Online travel platform EaseMyTrip NSE -1.17 % on Thursday declared an interim dividend of Re. 1 (50%) per equity share of the face value of Rs 2 each for the fiscal 2021-22. The company said that the total payout of the interim dividend is Rs 10.86 crore. This is the second dividend EaseMyTrip has announced since its listing in March. In April, the company announced an interim dividend of 100% or Rs 2 per share for the fiscal 2020-21.                                                                                                                                                        ET(13-Nov-21)

Apple supplier Foxconn sees Q4 revenue slumping on chip supply shortage

Taiwan’s Foxconn, which assembles iPhones for Apple, said on Friday it expected revenue from its key smartphone business to slide more than 15% in the quarter ending December, hurt by the ongoing global shortage of components. Speaking during a conference call after the world’s largest contract electronics maker reported a 20% profit jump for July-September, chairman Liu Young-way said the company was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus pandemic, inflation, geopolitical tensions and supply chains.                                                                                                                                       ET(13-Nov-21)

CapGrid raises seed capital from Anicut Angel Fund, Axilor & First Cheque

CapGrid, a B2B commerce startup specializing in sourcing & procurement of direct-material supplies, has raised Rs 4.1 crores seed funding from Anicut Angel Fund, Axilor Ventures and Firstcheque. The B2B startup plans to leverage the new funds to boost product innovation, scale operations, and expand its team, according to a release. CapGrid’s AI-powered platform and network of suppliers allows manufacturers to reduce the complexities in the direct material sourcing and procurement process.                                                                       ET(12-Nov-21)

EV charging platform ElectricPe gets $3 million in seed funding

Mumbai: ElectricPe, an electric-vehicle charging platform, has raised $3 million in a seed funding round led by Blume Ventures and Micelio Fund. A clutch of angel investors, including Ashish Goel of Urban Ladder and OfBusiness’ Bhuvan Gupta, participated in the fundraising. The capital will be used by the company to develop its “deep-tech platform” and enable access to affordable charging points via the ElectricPe app.            ET(12-Nov-21)

Silicon Valley-based Cradlewise gets $7 million funding for India push

Mumbai: Cradlewise, a Silicon Valley-based startup that makes smart cribs for babies, has raised $7 million in a seed funding round led by early-stage venture capital firm Footwork. VC firm CRV participated in the fundraising, as did SOSV and Better Capital, and angels like Stitch Fix founder Katrina Lake, Italic CEO Jeremy Cai and Molekule CTO Dilip Goswami. The capital will be used to accelerate the company’s innovation and technology roadmap and grow its team in India. The startup has offices in the San Francisco Bay Area and Bengaluru.                                                                                                                                                                                     ET(11-Nov-21)

Wakefit raises Rs 200 crore from US-based SIG, others

Mumbai: Wakefit, a home and sleep solutions company has raised $28 million (Rs 200 crore) in a Series C funding round from investors led by US-based SIG, a global trading and investment firm headquartered in Pennsylvania. The funding round in which existing investors Sequoia Capital India and Verlinvest also participated values the company at over Rs 2800 crore, senior company officials told ET.                   ET(11-Nov-21)

Troo Good raises $7.4 million from OAKS Asset

Troo Good, a Hyderabad-based millet snacks company, has raised $7.4 million, or about Rs 55 crore, in Series A funding from OAKS Asset Management. The company will use the funds to expand its business across the country and beef up its research and development and manufacturing capabilities, a senior official said. This is the first institutional capital raised by the company founded in 2018. It had earlier raised $1 million from angel investors in 2018.                                                                                                                                         ET(10-Nov-21)

Mosaic Wellness lands $24 million in funding led by Sequoia Capital India

Mosaic Wellness, a health and wellness startup running digital health clinic platforms Manmatters and Bodywise, has raised $24 million (Rs 178 crore) in a Series A funding round led by Sequoia Capital India with participation from existing investors Elevation Capital and Matrix Partners India. The company will use the capital for acquisitions, as well as to ramp up technological capabilities and increase headcount, cofounder Revant Bhate told ET.                                                                                                                                                          ET(10-Nov-21)

Zoomcar gets $92 million in SternAegis-led round

Zoomcar has raised $92 million through a private sale of shares to investors, led by SternAegis Ventures with participation from international family offices and institutional investors, the self-drive car rental company said in a news release Monday. “Zoomcar intends to use the proceeds from this financing to grow its car-sharing marketplace in India and various select markets across Asia and the MENA (Middle East and North Africa) region,” it said.                                                                                                                                             ET(09-Nov-21)

Curefoods eyes $30 million in equity funding round

Cloud kitchen company Curefoods, which operates ‘EatFit’, is in talks to raise $30 million in an equity funding round led by Accel NSE 0.84% and Chiratae, three people with direct knowledge of the development told ET. The Iron Pillar-backed company will use the funds to acquire almost half a dozen smaller brands in the space and for other inorganic growth opportunities.                                                                                                        ET(09-Nov-21)

Chingari’s crypto token raises $40 million within 24 hours of its live sale

New Delhi: Short video app Chingari on Thursday announced that its first-ever crypto token ‘GARI’ raised $40 million within 24 hours of its live sale on Republic platform. Republic is a crowd-equity platform that offers investments in startups, real estate, gaming and crypto. “GARI has been designed to empower the creator community with content monetisation opportunities. The token is built on Solana – one of the biggest & rapidly growing blockchains globally,” the company said in a statement.                                                          ET(08-Nov-21)

Edtech startup Brightchamps valued at nearly $500 million with Premji Invest-led funding

Bengaluru: Edtech startup Brightchamps, which offers online courses on programming, artificial intelligence, design thinking and financial literacy to kids aged 6-16 years, has closed $63 million in total funding since starting operations last year in August and is now valued at nearly $500 million, founder and chief executive Ravi Bhushan told ET.                                                                                                                                                          ET(08-Nov-21)

Cricket NFT platform Faze Technologies gets $17.4 million in seed funding

Faze Technologies, a platform for fans to collect, use, play and interact with cricket through nonfungible tokens, has raised $17.4 million (Rs 130 crore) in a seed-funding round, led by Tiger Global with participation from Coatue and Sequoia Capital India. Dapper Labs, Samsung Next and Courtside Ventures also participated in the round.                                                                                                                                                                             ET(06-Nov-21)

Absolute Foods eyes $90 million funding at $300 million valuation

Mumbai: Absolute Foods is putting together a $75-90 million (Rs 558-670 crore) funding round led by global investors Falcon Edge and Tiger Global, valuing the five-year-old farming and supply chain startup at $250-300 million, three people with direct knowledge of the move said. The company is likely to mop up a large portion of the amount in a few weeks in what could be one of the biggest Series A funding rounds in India’s agritech space, they said.                                                                                                                                                      ET(06-Nov-21)

Healthtech platform Cloudphysician raises $4 million from Elevar Equity

Mumbai: Healthtech platform Cloudphysician, which focuses on providing affordable and quality critical care, has raised $4 million from Elevar Equity as part of its pre-Series A funding round. The company will use the funds to expand its global footprint and invest in strengthening its teams across verticals such as commercial, medical, technology and data science, it said in a statement.                                                                                 ET(03-Nov-21)

Spacetech startup SatSure gets funding from Baring PE, others

Bengaluru: SatSure, a space technology company that utilises satellite data to extract actionable insights for the banking and insurance sectors, has raised an undisclosed amount of funding led by Baring Private Equity India as it eyes expansion of its product portfolio and growing its global footprint. The Bengaluru-based company, which was founded in 2017 by Prateep Basu, Rashmit Singh Sukhmani and Abhishek Raju, has remained bootstrapped until now, and works with brands such as ICICI Bank NSE -0.24 %, Reliance General Insurance, and Samunnati Finance among others to sell its insights on crop health and predictive analytics.            ET(03-Nov-21)

Jupiter in talks for $100-million funding, valuation may double

Neobank Jupiter NSE -1.46 % is in talks with US-based venture fund QED Investors to co-lead a new $100-million funding round along with its existing investor Sequoia Capital India, people briefed on the matter said. New York-based Tiger Global, one of the most aggressive venture investors in India, is also in talks with Jupiter to participate in the funding round, they said. If the deal goes through, Jupiter’s valuation will more than double to around $700 million, sources said.                                                                                                             ET(02-Nov-21)

SoftBank leads $93 million investment in NFT gaming firm the Sandbox

San Francisco: The Sandbox, a Hong Kong-based gaming platform that allows users to build a virtual world using non-fungible tokens (NFTs), has raised $93 million from investors led by SoftBank’s Vision Fund 2, the company told Reuters on Monday. The latest fund raising came a little over a year after its last round, as the company saw fast growth in monthly active users and crossed $144 million in transaction volume on the platform. It also marks Vision Fund 2’s first investment in a company that issues its own cryptocurrency.                               ET(02-Nov-21)

Zepto raises $60 million to deliver groceries in 10 minutes

Quick commerce grocery delivery app Zepto has raised $60 million led by US investment fund Glade Brook Capital, at a post-money valuation of $225 million. Venture capital fund Nexus Venture Partners and Silicon Valley’s Y Combinator also participated in the funding round along with prominent angel investors including former chief business officer of WhatsApp, Neeraj Arora. Glade Brook Capital is an investor in US grocery startups like Instacart and Good Eggs. It has also invested in food delivery app Zomato.                    ET(01-Nov-21)

Neo-bank Fi valued at $315 million after $50 million funding led by B Capital

Neo-bank Fi, which offers digital bank accounts and financial guidance to working professionals, has raised $50 million in a new funding round led by Facebook cofounder Eduardo Saverin’s B Capital, with participation from Falcon Edge Capital. This is its second funding round, valuing it at $315 million, a 7x jump. Fi had raised $13 million from Ribbit Capital and Sequoia Capital, in a seed round last year.                                            ET(01-Nov-21)

Purplle valuation jumps 4x in Kedaara-led funding round

Online beauty products platform Purplle has raised $75 million in a new funding round led by private equity firm Kedaara Capital. Existing investors Sequoia Capital India and Blume Ventures have also participated in the round. The latest funding comes six months after it raised $45 million from Sequoia Capital and others. The Mumbai-based company’s valuation has jumped more than four-fold to $630 million following the new round, cofounder and CEO Manish Taneja said.                                                                                                                      ET(30-Oct-21)

ETtech Deals Digest: Acko, Groww raise funds this week

General insurance startup Acko became the 32nd startup unicorn of 2021 after it picked up $255 million in funding led by General Atlantic and Multiples Private Equity. Meanwhile, online investment platform Groww trebled its valuation in barely six months to $3 billion after it raised $251 million in a new round of funding.       ET(30-Oct-21)

Incorp India invests $10 million in Vakilsearch

Incorp India on Thursday announced its investment of $10 million in compliance tech platform Vakilsearch which provides support to small businesses and individuals with their legal, tax and compliance needs. InCorp India said the transaction envisages a primary infusion accelerating tech and product development and sprucing up the marketing, sales and talent acquisition at Vakilsearch. Further, Kalaari Capital is also exiting its investment through the transaction.                                                                                                                               ET(29-Oct-21)

Purplle raises $75 million funding led by Kedaara, Sequoia Capital, Blume Ventures

Online beauty store Purplle said it has raised $75 million in funding led by Kedaara, Sequoia Capital India and Blume Ventures. Purplle’s valuation, post this funding, has now jumped to $630 million, a four-fold increase in the last six months, Manish Taneja, cofounder and CEO of the company, said. This fundraising comes six months after it raised $45 million from Sequoia Capital India and existing investors Verlinvest, Blume Ventures, and JSW Ventures.                                                                                                                                                        ET(29-Oct-21)

Koovers, a B2B auto spares startup, raises $1.5 million

Koovers, a business-to-business auto spares startup, has raised $1.5 million in a round led by Inflection Point Ventures. Other investors in the round include JPIN-VCats and Venture Catalysts. The company said it will use the funds to enter more markets across India, expand its product portfolio and upgrade its technology platform.                                                                                                                                                                                   ET(28-Oct-21)

NFT marketplace Colexion raises funding from Polygon

Non-fungible token (NFT) marketplace Colexion has raised an undisclosed sum from Polygon, an Ethereum scaling and digital infrastructure development platform founded by Indians and backed by billionaire Mark Cuban. Colexion raised the capital at a valuation of about $50 million, cofounder Bibin Babu told ET. The investment is a mix of token and equity, he added.                                                                                                              ET(28-Oct-21)

Micro-savings platform Siply raises $3.2 million in pre-Series A funding

Bengaluru: Bengaluru-based micro-savings platform, Siply, has raised $3.2 million in equity and debt as part of its Pre-Series A. The round was led by LetsVenture, AngelList India, Founder Room Circle and saw participation from investors like Kunal Shah (Cred), Beerud Sheth (Gupshup), Satish Grampurohit (Ex-Infosys), Shanti Mohan (LetsVenture) and Pratekk Agarwaal (Angel Investor, Ex CBO-BharatPe). Existing investor JITO Angel Network also participated in the round, the startup said in a statement on Monday.                                             ET(27-Oct-21)

Glance invests in Collective Artists Network

New Delhi: Glance, a part of SoftBank-backed InMobi Group, on Monday said it has made an investment in talent management organisation, Collective Artists Network. The company, however, did not disclose any financial details. “This collaboration is expected to give Glance strategic access to India’s top creators and celebrities, while providing disruptive and sustainable monetisation opportunities for the country’s entertainment talent.                                                                                                                                                                                 ET(27-Oct-21)

Groww raises fresh funds as valuation triples in six months to $3 billion

Online investment platform Groww has raised $251 million in a new round of funding, tripling its valuation in barely six months to $3 billion, or about Rs 22,500 crore. The Bengaluru-based company had joined the unicorn club of privately held companies valued at $1 billion or more in April this year. Groww is part of a group of high-growth startups that have raised back-to-back financing at steep valuations this year, cornering a large chunk of the capital as ET reported last week.                                                                                                           ET(26-Oct-21)

Clear raises $75 million from Kora Capital, Stripe and others

Clear (formerly ClearTax), which helps individuals and businesses file tax returns online, has raised $75 million from investors led by Kora Capital with participation from US-based payments major Stripe that made its first investment in an Indian startup. Clear refused to share its valuation after the new financing, but people with knowledge of the development said it is valued at around $700 million. It was last valued at around $250 million, they added.                                                                                                                                                    ET(26-Oct-21)

Teachmint bags $78 million funding led by Rocketship.vc, Vulcan Capital

Education infrastructure startup Teachmint said it has raised $78 million in a Series B funding round led by Rocketship.vc and Vulcan Capital. The round also saw new investors, Goodwater Capital and Epiq Capital, join the company’s capitalisation table. The startup will use the funds to further strengthen its proprietary classroom technology as well as to expand into international markets, it said in a release.                                    ET(25-Oct-21)

Stellapps raises $18 million in funding led by Nutreco

Dairy-tech startup Stellapps has raised $18 million towards its pre-Series C funding round from investors led by global animal nutrition and aquaculture company, Nutreco. The company plans to employ the funds to rapidly scale its traceability network and extend its digital footprint across India. The round also saw participation from existing investors Qualcomm Ventures, Celesta Capital, and ABB Technology Ventures, the company said in a release.                                                                                                                                                          ET(25-Oct-21)

Questt raises $6.75 million funding from Celesta Capital, Premji Invest, others

New Delhi: Edtech startup Questt on Thursday said it has raised $6.75 million (Rs 50 crore) in funding, led by Celesta Capital and Premji Invest. Existing investor Chiratae Ventures increased its shareholding in the series A round, while other existing investors including AET Fund, MarsShot Ventures, Titan Capital, and First Cheque continue to remain invested in the company, a statement said. Questt plans to use the funds from this round to build deep-tech capabilities to increase its user base, it added.                                                               ET(22-Oct-21)

Sourcewiz gets $3 million seed funding from Blume Ventures, Alpha Wave

Chennai: Sourcewiz, a software-as-a-service (SaaS) platform that digitalises operations for exporters, has raised $3 million in a seed funding round led by Blume Ventures and Alpha Wave Incubation. The fundraising saw the participation of angel investors like Ravi Bhargava (Former CEO, Arvind Ltd.), Rakshita Agrawal (GM at Wayfair USA), Dhruvil Sanghvi (Loginext) and Ashish Tulsian (Posist). The capital will be used by the Gurugram-based SaaS startup to expand its engineering, product management, sales, and customer success teams.  ET(22-Oct-21)

Dhani Services to raise Rs 1,200 crore from General Catalysts, others

Mumbai: The board of Dhani Services Ltd. has approved a equity fundraise of Rs 1,200 crore—equivalent to 9% stake in the company—by way of preferential issue of shares to General Catalyst and others. The Silicon Valley-based investor, which has backed companies like Stripe Inc. and Livongo, will invest Rs 375 crore in the fintech enterprise of Indiabulls cofounder Sameer Gehlaut, who’ll pitch in an equal amount. Ribbit Capital has also come on board, as have Think Investments and First Royalty Ventures.                                                           ET(21-Oct-21)

Big get bigger as select startups gain most amid funding boom

Select companies have gained the most from a sustained funding boom in the domestic market, amid an unprecedented inflow of risk capital and steep valuations. Data sourced by ET from industry tracker Venture Intelligence showed that almost 50% of the $24.5 billion in total funds raised by Indian startups between January and September has been ploughed into 73 companies in follow-on rounds.                                           ET(21-Oct-21)

RevFin raises $4 million in pre-series A funding round

New Delhi: EV financing digital platform RevFin on Wednesday said it has raised $4 million (nearly Rs 30 crore) in pre-series A funding round with both equity and debt. The round was led by Redcliffe founder Dheeraj Jain, Let’s Venture Angel Fund, Anuraag and Ruchirans Jaipuria of Jaipuria group, Rishi Kajaria of Kajaria Ceramics and Rahul Seth of Sudhir Power Ltd. Other investors include Knam Marketing founder Amit Goel and Car Dekho Group President and Mentor Ranjit Yadav.                                                                                                 ET(20-Oct-21)

ClearDekho raises $4 million funding led by Aroa Ventures

Eyewear brand ClearDekho on Wednesday said it has raised $4 million in pre-Series A funding led by Aroa Ventures which happens to be the family office of Oyo founder Ritesh Agarwal. The company said it will use the funds to expand its stores across geographies (40%), marketing and on-ground activities to drive new customer acquisitions (30%) and back-end operations infrastructure to automate fittings and quality check, hiring and training infrastructure and enhance inventory and private label brands (20%)                                        ET(20-Oct-21)

M2P Fintech in funding talks with Insight Partners a week after Tiger Global-led round

Bengaluru | Mumbai: M2P Fintech, which provides digital banking infrastructure to fintech and internet companies, is in talks with top-tier venture capital fund Insight Partners for a fresh funding round that will likely value it at more than $600 million, people in the know said. If the financing goes through, M2P Fintech’s valuation is expected to double from $335 million now, within a few weeks, the people said.                                ET(19-Oct-21)

Aviom India Housing Finance raises $8 million in Series C funding

Chennai: Aviom India Housing Finance, which deals in micro mortgages, has raised $8 million in a Series C funding round led by Sabre Partners. The company has received debt financing from more than 40 lenders, including public and private sector banks, and global and local development financial institutions. It aims to take its gross loan portfolio to Rs 1,000 crore by the end of 2021-22 from Rs 465 crore in FY21.                 ET(19-Oct-21)

SaaS Labs raises $17 million in maiden funding round

Mumbai: SaaS Labs, a cloud-based automation platform, has raised $17 million (about Rs 125 crore) from Base 10 Partners and Eight Roads Ventures in its maiden funding round. The capital will be used to expand the customer base and hire talent, as well as for product development and improving service delivery, the company said in a statement on Monday.                                                                                                                   ET(18-Oct-21)

Numadic gets $2.5 million funding from 9Unicorns, Venture Catalysts, others

Mumbai: Numadic, a vehicle interface platform, has raised $2.5 million in a funding round led by 9Unicorns and Venture Catalysts at a post-money valuation of $20 million. Google and Chona Family Office, as well as clutch of angel investors participated in the fundraising, as did Spark Private Wealth. The capital will be used to acquire talent and technology and scale new products.                                                                                          ET(18-Oct-21)

M2P Fintech raises funds from Tiger Global, others at $335 million valuation

Mumbai: M2P Fintech, which specialises in providing digital banking infrastructure to other fintech firms as well as banks, has raised $35 million in a Series C funding round led by Tiger Global at a post-money valuation of $335 million. Existing investors Beenext Pte, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital and the DMI Group’s Sparkle Fund also participated in the fundraising. The fresh capital will be used to enhance its API infrastructure capabilities and expand its reach beyond Asia. An application programming interface, or (API, is a set of tools, definitions, and protocols for integrating application software and services.                                                                                                                                                                               ET(15-Oct-21)

Rakesh Jhunjhunwala-backed Nazara raises Rs 315 crore from marquee investors

Nazara Technologies, India’s first listed gaming company that is backed by billionaire investor Rakesh Jhunjhunwala, has raised Rs 315 crore from marquee investors by issuing fresh equity to them. The allotment is subject to shareholders’ and regulatory approvals. “The company will issue 1,429,266 equity shares of face value of Rs 4 each at a price of Rs 2,206/- per equity share (including a premium of Rs 2,202 per equity share),” according to a regulatory filing on Wednesday. These shares will be locked in for a period of one year from the date of issue, as per SEBI guidelines.                                                                                                         ET(15-Oct-21)

Sun Mobility raises $50 million from Vitol

New Delhi: Electric vehicle energy infrastructure firm Sun Mobility on Wednesday said it has closed a $50 million (nearly Rs 370 crore) funding by Vitol, a global independent energy trader and investor in zero-emission and renewable energy assets. This strategic investment by Vitol will enable significant acceleration and expansion of Sun Mobility’s services across India and select global markets, the company said in a statement.      ET(14-Oct-21)

Exclusive: Pristyn Care in talks to close new round at over $1.2 billion valuation

Mumbai: Pristyn Care, a three-year-old Gurugram-based healthcare startup is in talks with investors like Sequoia Capital US and others to raise $90-110 million, which may value the company at $1.2-$1.4 billion, according to three people with knowledge of the development. Sequoia India is already an investor in the company. If the latest funding round goes through, the healthcare startup will see its valuation double in six months after it raised $53 million from investors led by Tiger Global valuing it at $550 million in April this year.                           ET(14-Oct-21)

Blockchain startup Arcana Network raises $2.3 million from Republic Crypto, others

Mumbai: Arcana Network, a blockchain startup that offers decentralised storage and data privacy platform for Ethereum, has raised $2.3 million led by Republic Crypto and Woodstock Fund. Digital Currency Group (DCG), Hyperedge, Sahil Lavingia’s shl.vc, Fenbushi Capital, LD Capital, and Paradigm Shift VC also participated in the round.                                                                                                                                                             ET(13-Oct-21)

D2C greengrocer Fraazo raises $50 million from WestBridge, others

Mumbai: Fraazo, a direct-to-consumer (D2C) brand in the fresh vegetables and fruits category, has raised $50 million in a funding round led by WestBridge Capital, in a sign of increased competition in the space. Existing investors Sixth Sense Ventures, Equanimity Investments, Apar Group participated in the fundraising, as did some family offices including Manish Choksi of Asian Paints.                                                                           ET(13-Oct-21)

Policybazaar subsidiary invests $7.5 million in Visit Health

Health tech startup Docprime, a subsidiary of Policybazaar parent PB Fintech, said it has invested $7.5 million in AI-driven telehealth and wellness platform Visit Health as part of its Series A funding round. PB Fintech said the investment is in line with its goal of enhancing service capabilities in the health and wellness space. Visit has already raised a seed round of $1.4 million from investors such as MapmyIndia, Snapdeal cofounders Kunal Bahl and Rohit Bansal, and Hetero Drugs Director Murali Krishna.                                                                  ET(12-Oct-21)

Silk B2B startup ReshaMandi raises $30 million in funding

ReshaMandi, a business-to-business marketplace focused on silk products, has raised $30 million, or about Rs 225 crore, in Series A funding round led by Creation Investments. The equity plus debt round saw participation from Omnivore, which led the seed round of ReshaMandi, 9 Unicorns, Venture Catalysts, Sandeep Singhal of Nexus, and IndiaMART founder Brijesh Agarwal, among others, the Bengaluru-based company said in a release on Monday. Debt investors include Northern Arc, Alteria, Inn .                                                                 ET(12-Oct-21)

Investors line up for cloud kitchens, online food delivery brands

Mumbai: Hygiene BigBite — a cloud kitchen backed by Serial entrepreneur K Ganesh — has raised $15 million from Falcon Edge, two people familiar with the development told ET, amid heightened investor interest in the sector. Last week, Rebel Foods, among the largest cloud kitchens in India, became a unicorn as it raised $175 million in its latest round at a $1.4-billion valuation. Hygiene BigBite is part of Ganesh’s entrepreneurship platform GrowthStory, which was founded in 2013. Ganesh was an early promoter of startups like online grocery major BigBasket and home decor provider Homelane.                                                                                        ET(11-Oct-21)

AMO Mobility plans to raise around $200 million in three years to fund expansion

New Delhi: Electric mobility startup AMO Mobility plans to raise around $200 million (nearly Rs 1,500 crore) in the next three years to fund its expansion, including enhancing production capacity to around 5 lakh electric two-wheelers per annum by 2025, according to company founder Sushant Kumar. The company, which sells a range of high-speed and low-speed (top speed of less than 25 km/hr) electric scooters such as Jaunty, Feisty, Inspirer and Spin, currently produces .                                                                                                                     ET(11-Oct-21)

Log 9 Materials raises $2 million from Petronas Ventures

Bengaluru: Log 9 Materials, a startup building advanced lithium-ion battery and fuel cell technologies, has raised $2 million in funding from Petronas Ventures, the venture capital arm of Malaysian oil and gas giant Petronas. The investment brings to a close the company’s $10 million Series A+ round, which was led by automotive battery maker Amara Raja Batteries NSE 0.05 %, along with participation from Exfinity Ventures and Sequoia Capital India’s Surge Programme.                                                                                                                            ET(09-Oct-21)

ETtech Deals Digest: Three more unicorns, Byju’s gets even bigger

Mumbai: India’s biggest startup got even bigger in the week to Oct. 8, even as the unicorn club added three more members. The ‘Unicorn Class of 2021’ has 31 startups now. Byju’s is raising Rs 2,200 crore, about $300 million, in a funding round led by Oxshott Venture Fund, regulatory filings sourced through Tofler showed.       ET(09-Oct-21)

LetsVenture’s equity management platform trica bags $3 million in seed funding

Mumbai: Stader Labs, a cryptocurrency staking management platform, has raised $4 million in a seed round, led by Pantera Capital. Coinbase Ventures, True Ventures, Jump Capital, and Ledgerprime also participated in the round. Prominent angel investors including Jaynti Kanani (CEO, Polygon), Sandeep Nailwal (COO, Polygon), Nemil Dalal (Head of Crypto, Coinbase), Sumit Gupta (CEO, CoinDCX), Ahmed Al Balaghi (CEO, Biconomy), Aniket Jindal (COO, Biconomy), and Harsh Rajat (CEO, EPNS) also participated in the round.            ET(08-Oct-21)

LetsVenture’s equity management platform trica bags $3 million in seed funding

LetsVenture, a startup investment marketplace, has launched a unified platform for equity management and private market investments – trica. The new business entity has secured $3 million in seed funding from Accel, LC Nueva AIF, Secocha Ventures among others, the company said in a statement. It will use the funds to build out the technology infrastructure stack for equity management for startups and investors, scale the product and grow its team.                                                                                                                                                              ET(08-Oct-21)

Twin Health raises Rs 1,000 crore to scale its Whole Body Digital Twin technology

Chennai: Twin Health, makers of the Whole Body Digital Twin precision health technology on Thursday announced $140 million (Rs 1,000 crore) in Series C funding as it is looking to scale its presence in India and the US.                                                                                                                                                                 ET(07-Oct-21)

Startup lender UC Inclusive Credit receives first ECB from US DFC

Mohandas Pai’s Aarin Capital Partners-backed startup lender UC Inclusive Credit (UCIC) has received its first external borrowing from US International Development Finance Corporation (DFC). The loan — $5 million — will primarily be used for on-lending to financial inclusion sector firms that support women empowerment. It’s a seven-year loan with a two-year moratorium, said UCIC’s cofounder and managing director Abhijit Roy.                                                                                                                                                                                         ET(07-Oct-21)

Tekion Corp raises $250 million, valuation trebles in just one year

Tekion Corp, which makes software for the auto retail industry, will use the funding for expansion beyond the US and Canada and in India, and setting up a customer experience centre and two innovation hubs stateside.                                                                                                                                                                                     ET(06-Oct-21)

Hyperface gets funding from Cred founder Kunal Shah, others

Bengaluru: Sunstone Eduversity, an edtech startup offering higher education programmes, has raised $28 million in a Series B funding round led by WestBridge Capital along with participation of existing investors Saama Capital and Alteria Capital. Work10m, a work-focused fund by Pankaj Bansal, the group chief executive officer of HR tech solutions provider PeopleStrong, also participated in the round. Sunstone has now raised close to $34 million so far, includi.                                                                                                                                   ET(06-Oct-21)

Byju’s to raise up to Rs 2,200 crore in funding led by Oxshott Venture Fund

Edtech major Byju’s is raising further funding of up to Rs 2,200 crore led by Oxshott Venture Fund, regulatory filings sourced through business intelligence platform Tofler showed. Edelweiss’s Crossover Opportunities Fund, Verition Multi-Strategy Master Fund, XN Exponent Holdings and MarketX Ventures will also participate in what will be a Series F funding round for the Bengaluru-based company.                                                              ET(05-Oct-21)

Esper gets $60 million in funding led by Insight Partners

Android DevOps platform Esper has raised $60 million in Series C funding led by Insight Partners, along with participation from existing investors including Scale Venture Partners, Madrona Ventures and Roots Ventures. The investment brings the total capital raised by the Bengaluru and Seattle-based company to $100 million, with the Series C round coming a little over four months after the company closed a $30 million round led by Scale Venture Partners.                                                                                                                                          ET(05-Oct-21)

ETtech Opinion: Inside the life of a VC

I belong to a mysterious species. Venture capitalists, or VCs, invest in startups when they are just an idea and a team. We VCs prefer to be behind the scenes. This is to avoid people asking us “What do you really do?” But people ask anyway. How do you decide which companies to invest in? Why do you invest in loss-making firms? How can you help a startup? When do you make money? The first one especially irritates a lot of VCs.                                                                                                                                                                                           ET(04-Oct-21)

Chinese investor may exit Delhivery; Thrasio eyes India foray

China’s Fosun International has sold a portion of its stake in logistic firm Delhivery to Addition, the company founded by former Tiger Global executive Lee Fixel, and late-stage equity fund Bay Capital. The transaction is part of a $125-million fundraise from Addition that the company announced last month and values IPO-bound Delhivery at around $4 billion, three sources told us.                                                                                ET(04-Oct-21)

Amazon writes to Piyush Goyal clarifying legal fees

In a letter to the minister for commerce and industry Piyush Goyal, Amazon said it has zero tolerance for corruption that the US online retailer has initiated an investigation into its legal representatives in India after a whistle-blower accused them of bribing government officials. The company also clarified that it’s legal fees for fiscal ending March 2020 was Rs 52 crore and not Rs 8546 crore unlike certain news reports.            ET(01-Oct-21)

Alteria Capital announces first close of its second fund at Rs 1,800 crore

Alteria Capital has announced the final close of its second fund at Rs 1,800 crore, the largest venture debt fund to be raised in India so far. This comes on the back of the fund’s first close in April at Rs 1,325 crore. The second fund includes a target corpus of Rs 1,000 crore and a green shoe option of Rs 800 crore, said Vinod Murali, founder and managing partner of Alteria Capital.                                                                                       ET(01-Oct-21)

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