Weekly Roundup: Venture Capital Investments Into Indian Startups This Week

Indian start-up ecosystem continue seeking funding from Indian as well as overseas investors

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The third week of December saw a prudent amount of investment rounds. Overall 43 startups raised funds, the highlight was Pristyn Care, a health-tech start-up turns unicorn Raises US$ 96 M.

Ola Raises $500M Through Term Loan B

Ola, India’s largest mobility platform, has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. The proposed loan issuance received a staggering response from investors with interest and commitment of approximately US$1.5B.

Pristyn Care Turns Unicorn; Raises US$ 96 M

Pristyn Care a health-tech start-up specialising in secondary-care surgeries, has raised US$ 96 Million in Series E round. This latest round of funding was led by marquee investors such as Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. Angel investors in this round include Kunal Shah (Founder & CEO, CRED), Deepinder Goyal (Co-founder & CEO, Zomato), Abhiraj Singh Bhal (Co-founder & CEO, Urban Company) and Varun Alagh (Co-founder & CEO, Mamaearth)

Innovaccer Raises $150 M Series E Round At $3.2 Billion Valuation

Innovaccer Inc. announced a $150 million Series E round at a $3.2 billion valuation, driven by rapid customer adoption of the Innovaccer Health Cloud. The round was led by Mubadala Capital, with participation from existing investors B Capital Group, Microsoft’s M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, Tiger Global Management, and new investors Whale Rock Capital Management, Avidity Partners, and Schonfeld Strategic Advisors. Innovaccer’s Series E round brings the total capital raised by the company to over $375 million.

Fintech Startup Uni Closes $70M Series A Funding

Fintech startup Uni today announced that it has raised USD 70 mn in Series A round led by General Catalyst, making this one of the largest Series A rounds in the Indian fintech space. The round also saw participation from Eight Roads Ventures, Elevation Capital, Arbor Ventures, and existing investors Lightspeed and Accel. The funds will be utilized to scale up the team, launch new category-creating products and invest further in tech to redefine consumer experience.

Rebel Foods Plans A $150M Investment

Rebel Foods is committing USD 150 million in strategic brand investments and acquisitions in India and globally. The investment pool will be used in the next few quarters, to scale up existing and new partnerships with around 40+ Indian and international brands. Under the initiative, Rebel is looking to invest, scale and grow food brands that are loved by customers and run by terrific founders and teams. This announcement comes on the back of Rebel Foods attaining unicorn status in October this year and with a promise to address more customer food missions by adapting a Thrasio model for food.

Adda247 Acquires UPSC Test Prep Platform StudyIQ Education For $20 M

Adda247 has acquired UPSC focused-ed-tech platform StudyIQ Education for approx $20 million (around Rs 150 crore) in a cash and stock deal. StudyIQ is focusing on the UPSC and State PSC segments. The site currently has over 11 million organic subscribers and receives close to 100 million monthly views. Its gross income for the financial year 2020-2021 was INR 33 crore, representing a 3x increase over the previous year. 

Mumbai Based Startup Nutrizoe Raises $200K In Seed Round

Nutrizoe, a Mumbai-based firm, has received a seed round of $200K from ah! Ventures Angel Platform and others, including The Chennai Angels, India Accelerator, HEM Angels, and Angel Bay. ah! Ventures have a total portfolio of INR 250 CR (33 MN USD) with 11 exits and 21 follow-on rounds, with 40 investments in 2021 and 102 investments (in 81 Startups) to date. ah! In 2021, Ventures expects to make 45+ investments totalling INR 150+ CR ($20MN USD).

Pi Green Innovations Raises Over $4.5 M In Series A Funding

Pi Green Innovations, a cleantech company committed to creating sustainable solutions for a greener future has announced that it has secured over $4.5 million in Series A funding. The round was led by the Investment Fund of Opus Consulting with a total of $4.3 million. The round also saw participation from some strategic investors. Previously, Mr Harshal Morde, Director of Morde Foods Pvt. Ltd had supported the company with a seed funding of $300 K. During the latest funding round, Pi Green was advised by JCSS Consulting who has been associated with the company as strategic, finance and legal advisor since inception. 

Fitpage Raises Funding Of $3.7M

Fitpage, an endurance-first fitness tech platform has raised a total of $3.7 million this year. The FitTech start-up raised $3.5 million in a seed round from Astra Ventures at the beginning of 2021. Fitpage has additionally raised $300 thousand in an angel round recently. This investment came from Gaurav Jaitly – MD and head of equity, Goldman Sachs India and Maj. Manoj Verma, MD of Jaguar Security. This takes the total investment to $3.7 million. 

Tournafest Secures Pre-Seed Funding Of Rs 3.05 Cr

Tournafest, a one-stop-shop for India's gaming community, has raised 3.05 crores in pre-seed capital from a group of investors and angels. Fresh alumni of IIT Roorkee started the Rajasthan-based start-up in April 2021. India Quotient, FirstCheque, Maninder Gulati (Global CSO Oyo Rooms), Abhinav Sinha (Global CPO and COO Oyo Rooms), and several important angel investors participated in this round.

Nexprt Raises $5M In Seed Funding

Sequoia Capital India and Lightspeed have invested $5 million in Nexprt as seed finance. Early backers, Titan Capital, and other noteworthy angel investors also participated in the round. The funds will be used to expand the company's current operations and create new manufacturing-related business verticals.

Venture Catalysts Group Closes 207 Deals In 2021, Invests $86M

In 2021, India's leading early-stage investment business, Venture Catalysts Group, doubled its growth by closing 207 consolidated agreements. During the year, it invested in 178 different firms. Venture Catalysts, India's first and most active early-stage investment platform, and 9Unicorns, a $100 million accelerator fund, are both administered by the Mumbai-based investment business.

SME Tech Startup Tranzact Raises $7M

TranZact, a small business technology startup that provides a SaaS-based digital transformation tool for small businesses, has raised $7 million in Series A funding. Tribe Capital, based in San Francisco, led the round, which also included Prime Venture Partners, Gemba Capital, and current investor Kae Capital. Suhail Sameer of BharatPe, Sriram Krishnan of Ex-Spotify/Tinder, Zetwerk Co-Founders, OfBusiness Co-Founders, Devendra Rane of Paytm, Giridhar Malpani of Climber Capital, and Krishna Khandelwal of Locussh were among the notable angel investors who participated in TranZact. 

Vedic Cosmeceuticals Raises Rs 25 Cr In Series A Round

Vedic Cosmeceuticals, a premier private label manufacturer of personal care products for leading international and domestic brands, announced that the company raised INR 25 crore, it’s Series A round of capital from Sixth Sense Ventures. Vedic Cosmeceuticals manufactures a wide range of personal care products, including facial care, hair care, baby care, soaps, body & bath care, intimate care and aromatherapy products. The company manufactures for leading Indian cosmetic brands including Nykaa, Moms Co., Sirona, Arata and many more, with 20 per cent of their current production being exported to Europe.

Hirequotient Raises $1.8M Pre-Seed Round

HireQuotient Technologies Pte. Ltd (HireQuotient), the Singapore-based start-up automating HR interviews for companies, today announced a pre-seed investment of USD $1.8 Million from leading angel investors. The problem that HQ solves is top of mind for business leaders and startup founders. Founders who have invested include Binny Bansal, Founder of Flipkart; Sumant Sinha, Chairman of ReNew Power, India’s leading independent renewable energy producer; Mohan Lakhamraju, Founder & CEO of Great Learning; Sujeet Kumar, co-founder of Indian e-commerce unicorn Udaan; Kunal Cred, co-founder of Fintech unicorn Cred, and Founders of 2 Indian ed-tech unicorns, Nimesh Kampani, Co-Founder & CEO of Trica, along with his syndicate on LetsVenture platform; as well as other leading investors across South-east Asia and The United States.

Kashmiri Logistics Start-Up ‘FastBeetle’ Raises More Than $100K

FastBeetle Logistics Pvt. Ltd., a Srinagar-based tech start-up focused on last-mile logistics in the state of Jammu & Kashmiri has closed a Pre-Series A funding round of USD100k at a ~ USD 1 million valuation from angel investors including Sandeep Patel from Nepra, Saurabh Mittal - Entrepreneurship Evangelist in the Himalayan region, Vikram Sanghvi, Rohit Qamra, a few non-resident Kashmiris. Existing investors Kartikeya Desai and Anuj Sharma also participated in the current round.

VGodrej Fund Management Holds The Final Close For Its Office Fund At $500 M

Godrej Fund Management (“GFM”), the real estate private equity arm of the Godrej Group, announces the final close of its USD 500 million office development fund, GBTC II.

GFM will develop grade-A office assets that will be valued in excess of USD 1.5 billion (~INR 11,000 crore) on completion and the total value of the assets including those from previous funds will take the portfolio value on completion to over USD 3 billion (~INR 22,000 crore). GFM has fully invested the previously raised capital under GBTC I and Godrej Office Fund I.  

Varanium Nexgen, A Fintech Focused VC Fund, Announces Final Closing At Rs. 140 Crs

Varanium NexGen Fund, one of India’s first fintech-focused venture capital funds announced it’s final close today at Rs.140 Crs. The fund invests in early-stage fintech start-ups in India.

The fund has been able to attract top-tier Indian investors as LPs. These investors include veterans from the fintech domain, family offices, financial institutions, professionals, and entrepreneurs including former CEOs and CXOs of banks.

Plix Raises $5 M In Series A Funding

Plix a fast-growing clean plant-based nutrition brand for daily wellness and strength, announced that it has raised $5 million in Series A funding from Guild Capital and RPSG Capital Ventures. The funds will be used for launching several first-of-its-kind products in the nutraceuticals segment tackling key health concerns. Over 85 SKUs are planned for launch in the next 12 months. The company is also looking to hire new senior leadership talent, reinforce their R&D team and enter new markets.

JusPay Raises $60M In Series C Funding At $460M Valuation

Juspay announced USD 60 million in Series C funding led by SoftBank Vision Fund 2 with participation from existing investors VEF and Wellington Management. It has played a pivotal role in improving the user experience for billions of payment transactions for leading merchants like Amazon, Flipkart and Swiggy. Today, the bulk of mobile payments in India go through Juspay’s platform. It processes 11 million transactions per day, one of the highest in India, with best-in-class reliability.

Haus & Kinder Bags Rs 10Cr Funding In Pre-Series A

Haus & Kinder has raised $1.3 million (Rs 10 Crore) in a pre-series A funding round led by investor Shaival Desai. Entrepreneur, Saket Dhankar, introduced the brand in 2018 with a vision to disrupt the home and baby space with a design-led lifestyle brand. Today, Haus & Kinder stands by their promise to deliver trendy home, baby and kids essentials at a fair price.

WeSkill Raises Over $400K From Angel Investors

WeSkill has raised more than USD 400K from reputed angel investors and syndicates, as part of its pre-seed round of funding. The round was led by Shrishti Sahu from Swadharma Source Ventures (“SSV”)  and was supported by premier angels such Umang Vohra (MD and Global CEO, Cipla), Arpan Sheth (Senior Partner, Bain & Company), Nikhil Srivastava (Partner and MD, Head of India Private Equity at PAG), Renu Satti (COO, Paytm), Narendra Rathi (Investments VP, SoftBank Vision Fund), Raj Shastri (ex-Partner, Kaizenvest), Sayan Ghosh (VC at International Finance Corporation), Soonicon LLP (Managed by Former Fitso Founder’s), Mayank Gupta (Co-founder, Zopper), Aditya Pittie (CEO, Pittie Enterprises Group), Rajesh Razdan (Co-founder, Devtron Labs), and IIT Madras professors among others.

WEcommerce Venture Frendy Raises Pre–Series A Funding Of Rs.10 Cr

Frendy is a Community Group Buying platform that brings discounts on groceries & other daily needs to Tier 2-6 Towns (Bharat) via neighbourhood homepreneurs.

Frendy is founded by Sameer Gandotra, a Wharton MBA and serial entrepreneur, whose involvement in Nebula - a Social Commerce Affordable Housing Developer, led to the inception of Frendy.  The Founding Team includes Rajen Ahuja & Gowrav Vishwakarma who have a background in Social Commerce. The Gujarat based start-up has expanded in stealth mode with operations in 20+ towns and break-even unit economics.

Hyperface Raises Funding From Binny Bansal’s 021 Capital & Others

The funding round has participation from Binny Bansal (Advisor, 021 Capital),  Angel investors Varun Mittal (EY global Fintech leader), Ashish Sharma (CEO of Innoven), and); Founders Chaitra Chidanand (Co-founder of SALT) Moses Lo (Founder and CEO of Xendit), Aldi Haryopratomo (Ex- CEO of GoPay), Harsh Jain (Founder of Groww), Abhinay Peddisetty and Chinmay Chauhan (Founders of Indonesia based Bukuwarung) and others.

The funding received will be used for team expansion, product development, expansion into BNPL and to pursue strategic initiatives for enhancing user experience

Retail Tech Start-Up ShopConnect Raises $1.5 M In Pre-Series

ShopConnect bhas raised USD 1.5 million in pre-series round funding from IBS Technology & Consulting Services, the holding company of Mr VK Mathews, Founder and Executive Chairman of IBS Software. The company intends to use the funds to expand its business in India, US & EMEA markets, accelerate its product and technology innovation and invest further in R&D initiatives to constantly improve its IP assets portfolio.

D2C Home Decor & Lifestyle Brand Nestasia Raises $4 M In Series A

Nestasia, an online home decor and lifestyle brand that delivers a unique home experience with its specially designed & curated line of artisanal home decor and tableware products, announced that it has raised US$ 4 mn in Series A. This funding round was led by Stellaris Venture Partners. Several angel investors who are part of the Stellaris Founder Network, an exclusive group of more than sixty high-quality entrepreneurs and industry professionals also participated in the round. These include Varun Alagh (CEO, MamaEarth), Sahil Barua (CEO, Delhivery), Anuj Srivastava & Ramakant Sharma (Founders, Livspace) and Dilip Khandelwal (Global CIO, Deutsche India).

Ola’s Ex CTO’s New Venture, Spry, Raises $3 M In Seed Funding Round

Spry, India's first management, communication and assessment SaaS based platform for movement health industry, today announced that it has raised USD 3 million in a seed funding round from a clutch of key investors. The round was led by Together Fund, India’s first founder-led VC fund. It also saw the participation of a number of other prominent names including FJ Labs, the VC firm of OLX co-founder Fabrice Grinda, Pareto, the early-stage venture capital firm by Shutterstock founder Jon Oringer, Knowledge Capital, AngelList, Whiteboard Capital, founders of Silicon Valley-based healthcare SaaS company Innovaccer, C-suite executes from multinationals such as Blackrock, TPG, Softbank, Qualcomm, and the founders of several Indian SaaS companies, among others. 

Logistics Tech Start-Up Enmovil Raises Rs 10 Cr In Pre-Series A Funding

Enmovil Solutions Private Limited, a Hyderabad based logistics tech start-up, announced today that it has raised a total of INR 10 Cr in Pre-Series A funding led by Anicut Angel Fund. The company also saw participation from KCT Group, Blackbird Investments Pvt. Ltd. and RB Investments in this round. The new infusion of capital will be utilized to boost their innovation journey to deliver first in Industry, advanced technology solutions for field and yard logistics.

Hoopr Bags $1.5 M In Seed Funding

Music licensing marketplace ‘Hoopr’ that allows video creators and businesses to license royalty-free music for their videos, ads and films, has secured $1.5 Million in seed funding. The round was led by 9Unicorns and Venture Catalysts and saw participation from Inflection Point Ventures and 91Ventures. Marquee angels including Ashneer Grover (BharatPe), Anshoo Sharma (Magicpin), Sahil Barua (Delhivery), Giri Malpani, Anuraag Srivastava (Rainshine Entertainment) and Pradyumna Agrawal (Temasek) also participated in the round.

Klub Raises Rs ₹200 Cr Revenue Based Financing Fund

Klub announced the first close of its new fund, Aceler8, to invest ₹200 crores in consumer and SaaS businesses. Klub’s Aceler8, a SEBI registered Category II Alternative Investment Fund caters to growth-stage and late-stage D2C brands, recurring-revenue digital businesses, and SaaS companies. The fund can invest capital ranging from ₹50 lakhs to ₹20 crores to digital businesses for their marketing, inventory, and CAPEX spending.

HFCL Raises Amount ₹600 Cr By QIP

HFCL Limited (HFCL), a leading innovation-led telecom enterprise has raised ₹600 crores via QIP issue. The QIP has shown an overwhelming response from Institutional investors like Reliance Ventures, Quant Mutual Fund, IIFL Wealth, Elara India, Discovery, Segantii, Millennium amongst others who participated in the fundraiser program of the Company.

MasterChow Raises INR 3.5 Cr In Seed Funding

MasterChow announced raising INR 3.5 Cr (462,000 USD) in a seed round led by WEH Ventures. The round also saw participation from prominent angel investors such as Aditya Singh and Ravi Shroff. The startup plans to utilise the raised funds to double down on its manufacturing capabilities, product development, hiring new talent and geographic expansion plans.

BharatX Raises Pre-Seed Round Of $ 250,000 Led By Java Capital

BharatX, a FinTech Startup that enables Consumer facing platforms to offer Credit-as-a-Feature, has raised US$ 250,000 (INR 1.81 crores) in a Pre-Seed round from marquee angel investors and other industry veterans to boost Embedded Credit in the Indian market.

Raymond To Raise Rs 100 Cr Through NCDs

The country's leading fabric and apparel manufacturer Raymond Ltd on Monday said it plans to raise Rs 100 crore from the market by issuing non-convertible debentures (NCDs). The company's board is meeting on December 17 to consider and approve the NCDs, according to a regulatory filing from Raymond. 

Data Patterns India Raises Rs 176 Cr From Anchor Investors Ahead Of IPO

Chennai-based Data Patterns (India) Limited, a vertically integrated defence and aerospace electronics solutions provider catering to the indigenously developed defence products industry, has garnered Rs 176 crore from anchor investors ahead of its initial share sale that opens for public subscription on Tuesday. The company informed the bourses that it has allocated 3,016,533 shares at Rs. 585 per share on Monday, December, 13th, 2021 to the anchor investors.

Gurucool Secures Pre-Seed Funding Of $1,50,000

Delhi-based EdTech startup Gurucool has raised investment from an Indian-American angel investor, Parvez Jasani (CEO, Zulie Venture Inc.) and FreeFlow Venture Builders, in the Pre-Seed round of $150,000 USD. 

Founded in 2019, Gurucool is an educational networking platform that offers a suite of phygital tools to connect learners and educators. With more than 25 tools and a vast content pool, Gurucool is empowering educators like schools and colleges to go online and build their digital infrastructure which enables learners to find, connect and learn from them.

Ace Investor Rakesh Jhunjhunwala-Backed Arrivae Raises Rs 50 Cr In B Round

Arrivae, India's first made-to-order furniture manufacturer and home improvement company backed by the business magnate has raised an additional INR 50 crores in series B round led by Havells Group. The funding round also witnessed the participation of Emerge Capital and existing investors. Apart from investing, Sahil Jain from Emerge Capital was also an advisor to the transaction.

Smartworks To Invest $25M In New Tech Venture For Workspace Management

Smartworks, which provides managed office space, will invest $ 25 million (nearly Rs 190 crore) in its new tech venture that will offer services related to workspace management, as part of its plan to grow business.

The new firm 'Smartworks Technology Services' will be a 100 per cent subsidiary of Smartworks and it aims to launch a building operating platform and workspace management SaaS product.

FanAnywhere Raises Seed Funding

FanAnywhere, a start-up building the world's first platform for celebrity NFTs, and NFTs & Fan Tokens of sports clubs, has announced that it has raised seed funding from a clutch of investors and is emerging from stealth mode. The initial seed round has come from 16 Venture capitals including Oasis Capital, Scorpio VC, DeltaHub Capital, Dutch Crypto Investors, Hello Capital, Kangaroo Capital, Magnus Capital, ZBS Capital, HotBit Exchange, R-930 Capital, Halving Capitals, Mars Ventures, Unilayer Capital, MoonCarl, IBC Group, 7 oClock Capital.  

NephroPlus Raises $24M In E Round

Asia’s leading dialysis network, NephroPlus, has closed a Series E round of funding to pursue growth opportunities across India and select international markets. The current round led by IIFL Asset Management (IIFL AMC) along with investment from existing investors Investcorp and Bessemer Venture Partners (BVP) comes on the heels of notable scale-up that the company has delivered in recent years towards maintaining its dominant market leadership in the dialysis space.        

Electric 2-Wheeler Manufacturing Startup OBEN EV Raises $1.5 Million In Seed Round

Indigenous EV start-up Oben EV raised 1.5mn USD in a seed round from We Founder Circle and others. Founded by IIT Kharagpur and IIM Bangalore alumni, Husband-Wife Duo Madhumita Agarwal and Dinkar Agarwal, the brand is developing new electric 2-wheelers in-house with indigenously developed components to deliver high-quality products. The seed round investment saw participation from notable investors at We Founder Circle, Rakesh Somani, Co-founder of Life Element, Gaurav Juneja - Serial investor, Eminent Cars, Siddharth Shah, Managing Director, Rajesh Motors, and other prominent angels like Sumeet Pathak, Dr Milan Modi, veteran technologist Dr Aloknath.  

PingoLearn Raises Rs 2 Cr In Pre Seed Round

E-Learning platform, PingoLearn has raised INR 2 Crore in the pre-seed round of funding led by Titan capital, Haresh Chawla and AngelList's syndicate. The startup will use the funds to expand the core team, set up content machinery, and develop the product.

Biotechnology Startup Zumutor Biologics Raises $6.2M

Biotech company Zumutor Biologics has raised $6.2 million in Series A4 funding. The round was led by Accel, Bharat Innovation Fund (BIF), and new incoming deep tech investor, Siana Capital. The company had earlier raised capital from Chiratae Ventures, Aarin Capital, and Karnataka Information Technology Venture Capital Fund. With this funding, the total capital raised by the company is over $26.2 million. The team is in the process of filing an IND and getting into FIH( first in human) studies in the US by the middle of 2022, for this they intend to raise a larger (series B) round for completion of phase 1 studies and progress of assets in the pipe

Techstars Backed SaaS Startup unremot Raises $700k In A Seed Round

Techstars backed SaaS startup unremot that offers a community-driven business-in-a-box solution for consultants, has raised $700K in a seed round led by Inflection Point Ventures and participated by Digital Futurists Angels Network (DFAN), ah! Ventures and Point One Capital.

Since 18 months of the launch in Feb 2020, unremot has 14,000+ monthly active users, 40,000+ monthly visitors, 80% organic users and users from 52+ countries, with 70% from the US, Canada, UK, Australia & Germany. 

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