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Funding and acquisitions in Indian startups this week [07 Feb-12 Feb]

This week 56 Indian startups raised funding, of which 44 received a total of about $1592.42 million or close to $1.6 billion. Polygon raised the highest funding of about $450 million, followed by ElasticRun and XpressBees which raised $300 million each.

Meanwhile, the funding of the 11 of the total funded startups remained undisclosed.

Growth/late startups 

Polygon: Decentralised Ethereum scaling platform Polygon has raised $450 million in its first major funding round led by Sequoia Capital India.

ElasticRun: Kirana commerce platform ElasticRun has scooped up over $300 million in its Series E round led by SoftBank Vision Fund 2.

Vedansh Pratap | Entrackr

XpressBees: XpressBees, e-commerce focused end-to-end supply chain solutions provider, has raised $300 million in its Series F round led by Blackstone Growth, TPG Growth and ChrysCapital. Existing investors such as Investcorp and Norwest Venture Partners also participated in the latest round.

Livspace: Omnichannel home interior and renovation platform Livspace has raised $180 million in its Series F round at a unicorn valuation. The round was led by KKR & Co. with participation from existing investors such as Ingka Group (Ikea), Jungle Ventures, Venturi Partners, and Peugeot Investments.

ShareChat: Vernacular social media and short video entertainment platform ShareChat has picked up another debt round worth $100 million from existing backer Tencent.

Mintifi: Mintifi, the B2B BNPL (buy now, pay later) platform, on Tuesday said it has raised $40 million in Series C round led by Norwest Venture Partners and Elevation Capital. 

Airmeet: Virtual events organisation startup Airmeet has raised $35 million in its Series B round led by Prosus Ventures, Sistema Asia Fund, RingCentral Ventures, KDDI Open Innovation Fund, DG Daiwa Ventures, and Nexxus Global.

Bugworks: US, Australia, and Bengaluru-based Bugworks, a clinical-stage multi-indication therapeutics startup, on Wednesday announced that it has raised $18 million in Series B1 funding. 

Early-stage startups 

Altigreen: EV manufacturer Altigreen on Friday said it has raised $39.8 million investment in its Series A round to boost its EV manufacturing to launch new products including LCVs and strengthen its countrywide presence.

Karbon Card: Fintech startup Karbon Card (Karbon) has raised $15 million in a Series A led by Olive Tree Capital, Harmony and Avenir Growth Capital. Existing investors Ramp, Mercury and Orios Venture Partners also participated in the current round. 

Oloid: Oloid, a creator of the software-based physical access technology, has raised $12 million in its Series A round led by Dell Technologies Capital. Honeywell Ventures, Okta Ventures and other previous investors have also joined the round. 

RENEE Cosmetics: New-age beauty brand RENEE Cosmetics has raised $10 million in its Series A round led by Mensa brands. Existing investors including Equanimity and 9Unicorns have also joined the new round. 

Sprinto: Sprinto, the compliance automation platform for SaaS companies, has raised $10 million in Series A funding led by Elevation Capital. Accel and Blume Ventures have also participated.

Wealthy.in: Wealthtech platform Wealthy.in has raised $7.5 million in Series A round led by Alpha Wave Incubation (AWI). New investor Savrola Group and existing investors Venture Highway, Good Capital and Emphasis Ventures also participated in the round.

Mudrex: Crypto investing platform Mudrex has raised $6.5 Mn in its pre-Series A round from Arkam Ventures, Tribe Capital, and Bolt by QED Investors.

SatSure: Bengaluru-based SatSure on Monday said it raised $5 million in a pre-Series A funding round led by Baring Private Equity India and ADB Ventures, Asian Development Bank’s venture arm.

Colexion: Colexion, a celebrity NFT platform, on Saturday announced that it has raised over $5 million in funding. The latest funding will help the platform build and expand its metaverse infrastructure.

Spacejoy: E-commerce platform Spacejoy has raised $4 million in its pre-Series A round led by Accel Partners. 

Kofluence: Kofluence , an ad-tech influencer marketing platform, has raised $4 million in its pre-Series A round led by Nikhil Kamath (Co-Founder of Zerodha & True Beacon). 

Peakperformer: Digital coaching platform PeakPerformer has raised $3 million in a seed round led by Sequoia Capital India’s Surge, alongside co-investors Antler India, Blume Founders Fund, and angel investors. 

Nira: Fintech startup Nira has raised about Rs 18.68 crore or around $2.5 million in its pre-Series A2 round led by JB Ventures. Collective Ventures, Fahim Rashid and Toby Chapman have also participated in the new round.

DailyObjects: DailyObjects, art and design-focused personal accessory maker, has raised $2 million in funding from early-stage venture capital firm Roots Ventures.

Dvara SmartGold: Dvara SmartGold, a Mumbai-based micro-savings led fintech startup, has raised $2 million in a pre-Series A round from Axilor, an early-stage sector agnostic seed fund, and Dvara Holdings. 

BRIGHTBLU: BRIGHTBLU, an electric vehicle charging solutions company, has secured a $1.6 million investment from Dutch clean energy conglomerate Koolen Industries. 

Carbanio: Online B2B chemicals marketplace Carbanio.com has raised $1.3 million in a seed round led by the Quantico Group USA. 

GoldSetu: Goldsetu, a mobile-first micro SaaS platform for jewellery retailers, has raised $1.2 million in a seed round of funding led by Village Global, Better Capital, Titan Capital, iSeed and Anjali Bansal for Avaana Seed. 

Better Opinions: Event trading startup Better Opinions has raised over $1 million in its pre-seed round from Y Combinator, Java Capital, Soma Capital.

Meraqui: Meraqui, a Mumbai-based tech-enabled, grey and blue-collar work resource management platform specialising in employee lifecycle management, has raised $1 million in seed funding from HNI investors.

Anveya Living: Anveya Living Pvt Ltd, a beauty and personal care firm, raised Rs 8 crore or $1.2 million from Rukam Capital in a seed funding round. 

Kritsnam: Hyderabad-based Kritsnam, an IIT Kanpur, SIIC graduated water security startup, on Monday announced that it has raised Rs 6 crore or $0.8 million as part of its pre-Series A round. 

Elevar: Goal-based investing app Elever on Monday has raised funds of $0.75 million from a group of 19 angel investors, including Massimo Vita.

Buregerma: Startup burger delivery platform Burgerama on Monday said it has raised Rs 5 crore or $0.66 million in a funding round led by Anicut Angel Fund.

Prolance: Prolance, a manufacturing platform for interior design companies, has raised $0.53 million (Rs 4 crore) in pre-series A round from including Srini Anumolu of GrowthStory, Karthik Bhat of Force Ventures, and Tarun Matta of IIMJobs.

GoalTeller: Bengaluru-based GoalTeller, an automated financial planning startup, on Saturday announced the closure of its pre-Series A funding of $0.5 million from existing investors, founders, family and friends. 

Runo: Runo, a SIM based call management CRM, has raised $0.5 million in a pre-Series A round led by Unicorn India Ventures.

H3Mart: H3Mart, a B2B procurement platform for the hospitality industry, has raised $0.5 million in pre-seed funding. 

Life & Pursuits: D2C Ayurveda beauty brand Life & Pursuits has raised $0.5 million in an angel round from Supermorpheus and Eagle10 Ventures. 

Voyaah: Voyaah, the tech-led luxury travel organisation, has raised $0.5 million in a seed round from Shashidhar Sinha, Principal CEO, IPG Mediabrands, India.

Eske Paris: Eske´, a Mumbai-based premium D2C lifestyle brand. has raised $0.33 million (Rs 2.5 crore) in a seed funding round led by Fluid Ventures. 

MangoPoint: MangoPoint, which creates mango products, raised Rs 1.82 crore or $0.24 million from The Chennai Angels. The round also saw participation from Native Angel Network and Keiretsu Chennai. 

Cercle X: Cercle X, new-age waste management platform, has raised Rs 1.9 crore or $158K or $0.15 million in a Seed round led by Inflection Point Ventures. 

F Sharp: F Sharp, a retail venture dealing in musical instruments, has raised $0.06 million (Rs 45 lakh) from Public Media Solution, a digital marketing and PR agency based in Pune.

Enjin Experiences: Enjin Experiences has raised $13.3K in a seed round from EventFAQs Media and Srishti Media and Investments.  

Undisclosed

IITian ChachaArvog, IndiaP2PNova BenefitsKrishi NetworkTRST01, Atirath Gaming, Park+ , Invact Metaversity, Learn Clue and Nemo did not disclose their financial details.

Acquisitions this week

Used car retailer Spinny has acquired a 100% stake in AI-powered Connected Car startup Scouto. 

CBA Capital-backed professional education platform Imarticus Learning Pvt Ltd has bought a game-based learning platform StratOnBoard for an undisclosed amount.

Softbank and PremjiInvest-backed GlobalBees Brands Pvt Ltd, which aggregates and invests in e-commerce brands, has added fitness equipment and accessories brand Reach to its portfolio, marking its latest and 12th acquisition. 

Mumbai-based CritiCare Asia Multispecialty Hospital and Research Center has acquired Kohinoor Hospital.

Homegrown social media platform ShareChat — the parent company of short-video platform Moj — announced a “strategic merger” with Times Internet-owned MX Taka Tak.

Initial public offering (IPO)-bound payment solutions provider Pine Labs on Tuesday said it has acquired payments startup Qfix Infocomm, for an undisclosed amount.

Fintech unicorn Razorpay has expanded into South-East Asia with the acquisition of a majority stake in a Malaysian fintech firm Curlec, valuing the company between $19-20 million.

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