Weekly Roundup: Top Indian StartUps Funding and Acquisition Report

  • In August 2nd week total 18 startups raised $221.27 million by different funding rounds.  A total of 5 startup acquisitions took place in the Indian startup ecosystem this week.
  • 87.6% stake acquisition by Reliance Industries Limited in fashion eCommerce platform Startups Fynd for $42.33 Mn (Rs. 295 Cr) is the second biggest deal of the week.

Weekly Indian StartUps Funding Data

Lendingkart: Ahmedabad based lending startups raised $30 million (Rs. 212 cr) from its exiting investor Fullerton Financial Holdings, Bertelsmann India Investments, and India Quotient. Fund will be used in the business expansion, technology up-gradation and improve Analytical ability.

In Series C round of funding led by Fullerton, the company already raised $87 million (Rs 565 Crore) in February 2018.

DailyHunt: Stonebridge Capital in Series F funding round invested $3mn in Bengaluru- based news portal company.

Rooter: Live sports app, Rooter raised 3.5 from Lead Sports is a Series A funding round. Rooter created a sports community in India and worldwide. Company concentrating on India’s Live sports engagement platforms.

BalleBaazi: Delhi based startup gaming platform BalleBaazi raised $4 Mn in Series A funding round. Angel Tech and an undisclosed Singapore-based investor is the new investor in the Startup.

Gramophone: – An equity funding round, Indore based Agritech startup Gramophone raised $3.5 Mn. earlier this year in March startups also raised $1 mn from the investor. After this deal Edge Ventures, Raveen Sastry, Myntra and Asha are now main investors in the company.

The fund will be used in the technology up-gradation and geographical expansion of the business.

CynLr: In Seed funding round, Bengaluru-based robotics deep-tech startup CynLr raised Rs. 5.5 Crore.

The leading investors are Speciale Invest, Arali Ventures, Growx ventures, CIIE Initiatives, and Dr. Vijay Kedia. Robotics is a very early stage technology in India and the company spent this amount of research and drive the new products.

Vedantu: In debt plus preference funding, Bengaluru-based online tutoring startup Vedantu raised Rs. 9.42 Cr from Trifecta Capital.

HealthQik: Bhopal based Healthcare startup HealthQik has raised seed funding of $250,000 (Rs 1.7 crore) from two angel investors, Virendra Prakash Sharma (from Indonesia) and Gagan Lamba (from the US). The startup HealthQik founded in 2016, by Abhinav Sehgal (10 years experience of working in the US healthcare sector), Co-Founder Manish Pandey has a CTO position in the startup, also a co-founder in many startups Loadmonk, Jetwave Solutions, Own A Space. Co-founder Ishita Rastogi, have experience of product management with Ericsson and McKinsey.

The startup offers a cloud-based electronic health record (EHR) platform to patients to schedule their visit and record their all medical data in a platform, easily assessable to doctor anytime.

Awfis: In Series D funding, Coworking Startup Awfis raised $30 Mn led by ChrysCapital and our existing investors Sequoia Capital and The Three Sisters Institutional Office.

The company will use this fund to expanse its business in the new market in India and after this deal companies, total funding reaches $81 million.

Gowork: Gurgaon-based co-working space providing startup GoWork has announced raising $53 Mn debt funding from BlackRock’s Private Credit team.

Company use fund to expanse business as per plan to reach a target of 50 centers across the country by 2025.

Indifi: In a Series C funding round, Delhi-based SME lending platform Indifi raised Rs. 145 Cr led by UK government-owned CDC Group and other Existing investors Accel, Elevar Equity, Omidyar Networks, and Flourish Ventures participated.

A new infusion of the fund will increase the capability of the company to expanse business activity in a new local market and offer new products and reach to the new customer.

Vedantu: In debt and preference funding from Trifecta Capital, Bengaluru- based an ed-tech startup Vedantu raised Rs. 9.42 crore. The company already raised Rs 9.2 Core in the last one year.

An undisclosed amount of funding in the week of Indian startups

  • Spyne: Gurugram-based SaaS startup Spyne, has secured an undisclosed amount in seed funding led by Smile Group. The ai-driven startup will use the fund to build innovative technology solutions to streamline and distribute massive offline content for photographers.
  • Mama Mia: Kolkata-based premium gelato brand, has raised an undisclosed amount in pre-Series A round of funding led by Pareto Capital, along with a clutch of High Net Worth Individuals from Mumbai, Delhi, Kolkata, for about 20 % stake.The company will use this fund to open more than 100 new delivery service outlets across the country in the next years.
  • iDream Career:  In pre-Series A funding from Gray Matters Capital, Delhi-based education counselling startup iDream Career has raised an undisclosed amount of funding.The company will use the fund to build automated data-driven career planning tools based on huge data and content on careers.

Acquisitions of the week

Thirdwatch: Delhi NCR-based artificial intelligence (AI) company Thirdwatch acquired by Payment startup Razorpay for an undisclosed amount. ThirdWatch’s AI, machine learning and big data technology will help Razorpay to avoid fraudulent transactions and improve payment experience.

Binge Digital: Delhi-based food tech company Binge Digital for an undisclosed amount acquired by online restaurant table booking service Dineout. The acquisition is expected to help its digital menu product Dine-in.

Upwardly: Wealth management startup Upwardly for an undisclosed amount acquired by Scripbox a Personal wealth management platform.

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