Funding and acquisitions in Indian startups [08 Nov- 13 Nov]

This week 33 Indian startups raised funding, of which 30 received a total of $1842 million or $1.84 billion. Byju’s has raised the highest funding [debt] of $1.2 billion followed by The Good Glamm Group which raised about $150 million.

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

Below is the summary of deals this week

Growth/late-stage startups 

Byju’s: Edtech company Byju’s, has raised $1.2 billion via a term loan from the overseas market. 

Good Glamm Group: Good Glamm Group, which owns direct-to-consumer beauty brand MyGlamm, has scooped up $150 million in its Series D round led by Prosus Ventures (previously Naspers), Warburg Pincus along with the participation from Alteria Capital and existing investors L’Occitane, Bessemer Venture Partners, Amazon, Ascent Capital and the Mankekar Family Office.

Curefit: Zomato has invested $50 million cash in fitness tech company Curefit.

Zoomcar: Car sharing marketplace Zoomcar has raised $92 million in its Series E round led by New York-based SternAegis Ventures with participation from international family offices and several institutional investors. 

Shiprocket: Zomato has also signed definitive documents for investing around $75 million in Shiprocket for about 8% stake as part of a larger $185 million round. This roughly valued Shiprocket at over $930 million.

Magicpin: Offline discovery and reward platform Magicpin has raised $60 million in its Series D round in which Zomato will pour in $50 million for about 16% stake. 

BrightChamps: Edtech startup BrightChamps has raised $63 million in a new financing round valuing the company at a whopping $500 million. 

Vayana Network: Trade finance platform Vayana Network said it has raised Rs 283 crore or $38 million in a Series C funding round led by Chiratae Ventures, CDC Group, Jungle Ventures, March Capital, Marshall Wace, and some family offices in India and abroad.

Wakefit: Sleep and home solutions startup Wakefit has raised Rs 200 crore ($28 million) in a financing round led by US-based SIG and participation from existing investors Sequoia Capital India and Verlinvest. 

Leap India: Leap India Food and Logistics Private Limited has recently completed its $14 million round of debt financing from CDC Group (CDC”), the UK’s development finance institution and Impact Investor.

Early-stage deals

Mosaic Wellness: Digital health and wellness consultation startup Mosaic Wellness has raised $24 million in its Series A round led by Sequoia Capital India along with existing investors Elevation Capital and Matrix Partners India.

Unnati Agri: Unnati Agri, a fintech-driven agriculture service platform, has raised Rs 60 crore or $8 million in its Series A round led by Incofin Investment Management, NabVentures and Orios. 

Troo Good: Troo Good, a millet-based food maker, on Wednesday said it has raised Rs 55 crore $7.4 million in a Series A funding round from Indian consumer-focussed private equity fund OAKS Asset Management.

Cradlewise: Baby-tech startup Cradlewise has raised $7 million in seed round led by Footwork along with CRV and existing investors SOSV and Better Capital. Notable angels Katrina Lake (founder of Stitch Fix), Jeremy Cai (CEO of Italic) and Dilip Goswani (CTO of Molekule) also participated in the round.  

BatterySmart: Battery-as-a-service provider startup Battery Smart has raised a pre-Series A round of $7 million led by Blume Ventures and Orios Ventures.

Advantage Club: HR Tech startup Advantage Club has raised a total of $5 million in a pre-Series A round from YC, Jetty Ventures, Earlsfield Capital, SMC Advisors, Cred’s CEO Kunal Shah and few others.

Lysto: Bengaluru-based NFT startup Lysto has raised $3 million seed capital from BEENEXT, Better Capital and Cloud Capital.

ElectricPe: EV charging platform ElectricPe on Thursday said it raised $3 million in a seed round led by Blume Ventures and Micelio Fund.   

Jet Media Network: Jet Media Network, a data-driven digital publishing company, has closed a $2.5 million seed round led by Los Angeles Media Fund and joined by investors including 10X Capital, Gaingels, JetSynthesys, Spivy Private Capital and Equinox Systems.

Xpand: Xpand, a platform of Last Mile Channel Enhancement (LMCE) on Wednesday announced that it has raised $ 1.5 million in a pre-Series A round, at a valuation of approximately $10 million.

Stratzy: Stratzy, an investment advisory platform for retail investors, has raised $800K or $0.8 million in a pre-seed round from Leo Capital, Titan Capital and First Cheque.

Coding Invaders by MentorsPro: Coding Invaders by MentorsPro, an education platform with mentorship that is working to make job-ready education available and approachable for students, has raised $700K or $0.7 million in its pre-seed funding round from investors like S16VC and A Partners.

Cora Health: Bengaluru-based nutrition and health foods marketplace Cora Health has raised $618K or $0.61 million in seed funding led by angel investors Vishnuraj Kunjur, KRS Jamwal, and Ajay Upadhyaya from Indian Angels Network (IAN).

CapGrid: CapGrid, a B2B commerce company specialising in sourcing and procurement of direct-material supplies, has raised $550K or $0.55 million in seed funding from Anicut Angel Fund, Axilor Ventures, and First Cheque.

SuperBottoms: Cloth diapering pioneers and baby care brand SuperBottoms, has raised $470K or $0.47 million in venture debt funding from Alteria Capital.

Prodo: Prodo, a B2B e-commerce platform that provides manufacturing of consumables, has raised $400K or $0.4 million in its pre-seed round led by LetsVenture and Titan Capital.

CloudFiles: Saas Startup CloudFiles has raised $317K or $0.31 million in a pre-seed round led by Titan Capital. Marquee investors Ashish Garg, founder and CEO at Eltropy and Renil Komitla, CEO at Terralogic Software also participated in the round.

Buyofuel: Buyofuel, an online marketplace for biofuels and wastes, has raised $215K or $0.21 million in a seed round led by Inflection Point Ventures.   

TRDR: Fintech startup TRDR has raised $150K or $0.15 million from investors such as CRED's Kunal Shah, and Snehal Fulzele, CEO and Co-founder of Cloud Lending Solutions, it told YourStory on Monday.

XR Central: Extended reality-based products solutions company XR Central, raised a seed round of $135K or $0.13 million from Netprophets Cyberworks.

Undisclosed deals

Life Quest Clubs (LQC), RaoDo and Codevidhya did not disclose their financial details.

Acquisitions this week

Neokred has acquired PeSeva Technologies, a buy-now-pay later (BNPL) solutions provider.

EV startup eBikeGo has acquired tech firm Kustard Technologies for $2 million.

Tech startup CleverTap has acquired Patch for an undisclosed value.

Exotel, a cloud-based communication startup, has acquired Cogno AI.

Thrasio-style e-commerce rollup startup Evenflow has acquired sports and fitness brand Xtrim.