Top startup stories and funding data (3rd week Jan-21)


Top stories and fundraising data of the Indian startup ecosystem in the 3rd week of January 2021. Indian startups raised a total of $152 million funds from investors via 18 deals this week.

Top Startups news and stories of the week

  • India’s startup IPO journey for 2021 kicks off as diversified gaming and sports media platform Nazara Games refiles the DRHP with market regulator Sebi.
  • The company had earlier filed its papers in February 2018 but could not launch the issue. The gaming company backed by billionaire investor Rakesh Jhunjhunwala is most well-known for its World Cricket Championship, Chota Bheem, and Motu Patlu series.
  • Amazon has partnered with Startup India to launch an accelerator program to help early-stage startups in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling program.
  • Cure.fit acquires US-based digital fitness company Onyx to energize its international portfolio.   Onyx specializes in body tracking technology and the personalization of workout feedback.
  • Tesla and SpaceX CEO Elon Musk has announced a donation of $100 million towards a prize for the best carbon capture technology.
  • Breakthrough Energy Ventures — an initiative to help the planet reach zero carbon emissions through innovation — has raised its second $1 billion round of funding.
  • Ola has partnered with Siemens as it looks to rapidly build its upcoming electric vehicle manufacturing facility. This announcement comes on the heels of Ola’s MoU with the government of Tamil Nadu to invest nearly Rs 2,400 crore towards building this facility.
  • PM Modi announces Rs 1,000 crore seed fund for startups. The Startup India Seed Fund Scheme will provide financial assistance to startups for Proof of Concept, prototype development, product trials, market-entry, and commercialization.
  • Homegrown instant messaging app Hike Sticker Chat, formerly Hike Messenger, has been officially shut down and was removed from Google Play Store and App Store.
Advertisements

Funding of the week

The Indian startup ecosystem saw $152 million in funding this week across 18 deals, as per data published on cnbctv18.

Some of the large deals include Dunzo’s $40 million fundraise led by Google and LightBox, the $30 million funding in Agritech startup DeHaat led by Prosus Ventures, and the $15 million funding led by Salesforce in HR tech startup Darwinbox.

  • Dunzo raises Series E $40 million from new and existing investors

Hyperlocal player Dunzo has raised $40 million in a fresh round of funding capital from new and existing investors. The list of investors includes Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria. With a gross merchandise value growth of 2X over the past year, Dunzo is now a $100 million annualized GMV business.

Advertisements
  • DeHaat raises $30 million Series C led by Prosus Ventures

Full-stack Agritech Platform DeHaat Raises $30 million Series C led by Prosus Ventures. RTP Global co-invested in the round with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder. With the Series C Investment, the company plans to strengthen the technology platform and expand geographically to other parts of India.

  • Salesforce Ventures invests in Darwinbox

Enterprise HR technology platform Darwinbox closes a $15 million funding round led by Salesforce Ventures. This is one of Salesforce Ventures’ first investments in India. With this partnership, Darwinbox aims to accelerate digital HR adoption, deepen product offering and further their mission to become market leader in the HCM space.

  • Furlenco raises Rs 20 crore in venture debt from BlackSoil

Furniture rental startup Furlenco raises Rs 20 crore in a venture debt facility from sector agnostic alternative credit platform BlackSoil Capital.

  • Fintech platform BharatPe funding

Fintech platform BharatPe has raised Rs 50 crore ($7 mn) in debt from Trifecta Capital. This is the 3rd tranche of debt fund financing raise by BharatPe, that recently raised Rs 199 crore ($ 28 mn) in debt from renowned venture debt providers as well as ICICI Bank. The company, that is aggressively working towards building its lending business, has raised Rs 249 crore (US$ 35 mn) in debt in January 2021.

  • MFine raises $16 million in a new funding round led by Heritas Capital fund

Health tech platform MFine has raised $16 million in a new funding round led by Heritas Capital fund along with the Singapore-based family office of Y’S Investment. Existing investors—SBI Investment, SBI Ven Capital, Beenext, and Alteria Capital—also participated in the round.

The company will use the fresh funds to strengthen its leadership team and its technology platform to create a virtual hospital network for its users

Advertisements
  • AlphaICs raises $8 million in Series B funding led by Endiya Partners and Emerald Technology Ventures

Edge AI technology company AlphaICs has secured $8 million in Series B funding. The round was led by Endiya Partners and Emerald Technology Ventures, with participation of existing Series A investors.

  • Ripplr secures $3 million in Series A funding

Digital distribution and logistics ecosystem platform Ripplr has raised $3 million in Series A funding from private equity fund Zephyr Peacock India Growth Fund, Chand Family Office – Yukti and existing investor, and 3one4 Capital.

  • Fashinza raises $2.6 million in seed funding led by Accel Partners and Elevation Capital

Fashinza, a B2B manufacturing marketplace that solves apparel/fashion supply chain challenges by connecting fashion brands to experienced manufacturers, has raised a seed funding of $2.6 million. The initial seed funding round was led by Accel Partners and Elevation Capital with participation of marquee individual investors – Kunal Bahl and Rohit Bansal, co-founders of Snapdeal, and Alok Mittal, co-founder of Indifi.

  • Udayy raises $2.5 mn from Alpha Wave Incubation

Live-learning edtech platform Udayy has raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures. The round also saw participation from VC Better Capital, Cred founder Kunal Shah and other angel investors.

Advertisements
  • BeyondSkool raises seed funding of $2 million from Tomorrow Capital

Online upskilling academy BeyondSkool, has raised seed funding of $2 million from Tomorrow Capital. BeyondSkool plans to utilize the amount for expanding its product offering, maximizing technology integration for enhanced learning, and scaling up business operations. Furthermore, the platform will also look to create high impact marketing, expand its team across verticals and build a state-of-the-art ‘LIVE Online Learning’ platform.

  • Venture Catalysts leads $2 million round in CreditEnable

AI-driven SME credit marketplace CreditEnable has raised $2 million in an investment round led by Venture Catalysts along with its UK arm, JPIN Venture Catalysts. The investment will be used to continue the development of CreditEnable’s technology platform and expand the firm’s user base.

  • Elevation Capital leads $1.63 million seed stage funding in Turnip

Game live streaming and community platform Turnip has raised $1.63 million in a seed round led by Elevation Capital. The latest round also saw participation from Better Capital.

  • Shopg raises of $1.5 million from Orios Venture Partners & RPSG Ventures

Social commerce platform ShopG closes seed round of $1.5 million from Orios Venture Partners & RPSG Ventures. A host of angel investors like Rajesh Yabaji – CEO Blackbuck, Raghunandan G – Ex CEO Taxi for Sure, Prasanth Nair- Ex Flipkart, and Alibaba also participated in the round.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s