Top Funding Deals of 2016
Bangalore-based Education technology start-up Byju’s, owned by Think and Learn Pvt. Ltd, had raised $75 million in Series C round from venture capital firm Sequoia Capital and Belgian investment firm Sofina in March 2016.
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Here is a list of top 10 funding deals of this year including Snapdeal ($221M), MakeMyTrip ($180M), Hike ($175M), BigBasket ($150M), CartRade ($145M), BYJU’s ($140M), ShopClues ($100M), Fractal Analytics ($100M), MobiKwik ($90M), BookMyShow ($82M) and Rivigo ($75M).
Check out the brief description about all of them:
Snapdeal Raised $221M in Two Funding Rounds ($200M+$21M) This Year
In February 2016, Jasper Infotech, which owns and operates online marketplace Snapdeal, had secured $200 million in fresh funds from investors led by Canada’s Ontario Teachers’ Pension Plan. Venture capital fund Iron Pillar and other investors also participated in the round. The company raised this funding at a valuation of $6.5 billion. Then six months later, Snapdeal received a further $21 million in August from Luxembourg-based investor, Clouse SA, as part of its ongoing funding round, a portion of which was announced earlier in February.
Till now, the firm has secured a total of $1.76 billion in 12 round from 23 investors including Alibaba, Bessemer Venture Partners, BlackRock, Brand Capital and Cambrian Ventures among others. Also the New-Delhi based company has made 13 acquisitions till now including GoJavas (July 2016), TargetingMantra (May 2016), Reduce Data (September 2015) and Fashiate (August 2015) etc. Started in 2010, Snapdeal has invested in 5 companies so far - $36M Series B in PepperTap (September 2015), $36M Series B in NuvoEx (September 2015), Undisclosed amount in Bewakoof (January 2015), $20K seed round in Zumbl (July 2013) and $20M funding in GoJavas in October 2015 then Snapdeal acquired it in July this year.
MakeMyTrip Secured $180M from China's Ctrip
In January, Gurgaon-based online travel company MakeMyTrip had raised $180 million from Ctrip, one of China's largest online travel companies. Ctrip invested the amount via convertible bonds. Since its inception (2000), MakeMyTrip has secured a total of $208M in 3 funding rounds from 5 investors including Helion Venture Partners. SAIF Partners, Sierra Ventures and Tiger Fund. Also, the firm has acquired 3 companies till now like ibibo Group (October 2016), mygola (April 2015) and Easytobook.com (February 2014).
MakeMyTrip also lead 3 investment round so far viz. $15M Series B funding in HolidayIQ (July 2015), $3M Seed round in Inspirock (June 2015) and $18.5M Series A funding in ixigo.com (August 2011).
Hike Secured $175M from Tencent, Foxconn, Others
In August, Chinese Internet giant Tencent and Taiwanese manufacturer Foxconn have led a $175 million funding round in local messaging app Hike. The company raised this funding round at a valuation of $1.4 billion. Existing investors Bharti, Softbank Group and Tiger Global have also participated in this round. New Delhi based company has secured a total of $261 million in 5 Rounds from 9 Investors so far. Founded in 2012, Hike had also acquired Thought Mechanics in January 2015.
BigBasket Raised $150M from Abraaj Group
In March, Bangalore-based online grocery company BigBasket had raised $150 million in Series D round from new investors, such as private equity (PE) firm The Abraaj Group, venture capital firm Sands Capital Management Llc and International Finance Corp. (IFC), the private sector lending arm of the World Bank. Existing investors Helion Ventures Partners Llc, Bessemer Venture Partners Lp and Ascent Capital Llc also participated in the round. Founded in 2011, the company had secured a total of $246.76M funding in 7 rounds from 10 investors. Also, it had made 1 acquisition so far, acquired Delyver.com in June 2015.
CarTrade Raised $145M from Temasek, Others
Mumbai-based automobile classifieds portal CarTrade.com had secured $145 million from Singapore state investment firm Temasek Holdings, US-based March Capital and existing investor Warburg Pincus in Series E round in Januray 2016. Founded in 2010, CarTrade has raised a total funding of $185.34M in 5 Rounds from 7 Investors. The firm is also backed by Austin Ligon, Canaan Partners, Epiphany Ventures and March Capital Partners among others. CarTrade had also made an acquisition in November 2015, bought CarWale for $90M in Cash.
BYJU’s Raised $140M in 3 Rounds This Year
Bangalore-based Education technology start-up Byju’s, owned by Think and Learn Pvt. Ltd, had raised $75 million in Series C round from venture capital firm Sequoia Capital and Belgian investment firm Sofina in March 2016. In September, the company secured $50 million in Series D round from the Chan Zuckerberg Initiative, and existing investors Sequoia Capital, Belgian investment firm Sofina SA, Lightspeed Venture Partners and Times Internet Ltd. And in December, the firm received $15 million from International Finance Corporation. Launched in 2011, BYJU’s has secured a total funding of $149M in 4 Rounds from 8 Investors till now.
ShopClues Received Over $100M in Series D Funding
Gurgaon-based online marketplace ShopClues had raised over $100 million in Series D funding from a group of investors led by Tiger Global in January 2016. Launched in 2011, the company had secured a total of over $230 million in 7 rounds from 7 investors. It had also acquired Momoe Technologies in July 2016.
Fractal Analytics Raised $100M from Malaysian Sovereign Wealth Fund Khazanah
US and India-based data analytics company Fractal Analytics, founded in 2000, has raised $100 million from Malaysian sovereign wealth fund Khazanah at a valuation of around $300 million. The company had raised a total of $125M in 3 Rounds from 3 Investors. The firm is also backed by Aimia and TA Associates. Fractal Analytics acquired 2 companies till date, Imagna Analytics in October 2015 and Mobius Innovations in January last year.
MobiKwik Raised $90M in 2 Rounds This Year
In May 2016, Gurgaon-based online recharge and mobile wallet MobiKwik, had raised $50 million in Series C round led by Japan's GMO Payment Gateway and Taiwanese fabless semiconductor company MediaTek. Then in August, the company had received $40 million from Johannesburg-headquartered Net1. Since its inception, MobiKwik has raised a total funding of $126.85M in 6 rounds from 9 investors.
BookMyShow Raised Around $82M from Stripes Group, Others
In July 2016, online movie ticketing company Bigtree Entertainment Pvt. Ltd, which owns and operates the BookMyShow website, raised around $82 million in its Series C round of funding. Mumbai-based company which was started in 1999, has secured a total of $124.5M in 3 Rounds from 4 Investors. Also, it acquired 2 firms till now - Fantain in March 2016 and Eventifier in February 2015.
Rivigo Raised $75M in Series C Funding from Warburg Pincus
Gurgaon-based Rivigo, a technology-enabled company that offers logistics services and solutions in India, had raised $75 million in Series C round from Private equity firm Warburg Pincus. Founded in 2014, the company has received a total funding of $105M in 2 Rounds from 2 Investors. Rivigo is also backed by SAIF Partners.
Apart from these top 11 deals of 2016, below companies have also received a huge amount of capital which are as follows:
Budget hotel aggregator Oyo, owned by Oravel Stays Pvt. Ltd, had raised $62 million from Japan’s SoftBank Group Corp. in August 2016.
Eyewear e-tailer Lenskart Solutions Pvt Ltd raised $60 million in its Series D round of investment from International Finance Corp, TPG Growth and other investors in May 2016.
In August 2016, Taiwanese chip designer MediaTek had invested $60 million in One97 Communications, which runs Paytm.
In November, Freshdesk, a customer engagement software company, had raised $55 million in a Series F round led by new investor Sequoia Capital India, with contribution from existing investor Accel Partners.
Cloud data protection and information management company Druva had raised $51 million from Singapore-based EDBI, as well as Blue Cloud Ventures and Hercules Capital in September.
In October, Private equity giant KKR's media and entertainment platform Emerald Media had invested $50 million to buy a large minority stake in YuppTV, a Netflix-styled online video provider to Indian and South Asian diaspora globally.
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