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India now has 52 unicorns, with Chargebee joining the club this week
Razorpay has tripled its valuation to $3 Bn, with another $160 Mn fundraise
Overall, $555 Mn was invested in Indian startups across 27 deals this week
![Funding Galore: From RazorPay To Chargebee — $555 Mn Raised By Indian Startups [April 19-24]](https://inc42.com/wp-content/uploads/2021/04/FUNDING-1360x1020-4-680x510.png?is-pending-load=1)
We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week
This week, payment gateway major Razorpay tripled its valuation to $3 Bn, after raising $160 Mn in Series E round led by Singapore’s sovereign wealth fund GIC and Sequoia Capital India. Other existing investors such as Ribbit Capital also participated in the new round.
The new funding comes as the company plans to launch its products in Southeast Asian markets by the end of this year. The company had raised $100 Mn in a Series D funding round in October 2020, at a valuation of $1 Bn. With the recent funding, the startup has raised $366.5 Mn to date.
Chargebee Is India’s Latest Unicorn
Chennai-based subscription management platform Chargebee is the latest Indian unicorn, taking the total tally to 52. The enterprise tech platform raised $125 Mn in Series G round led by Sapphire Ventures, Tiger Global, Insight Venture Partners and Steadview Capital, at a valuation of $1.4 Bn. The company has tripled its valuation in less than six months after its previous fundraise.
It raised $55 Mn in its Series F funding round led by Insight Partners in October last year when Tiger Global and Steadview Capital participated. With this round, Chargebee has netted a total funding of $230 Mn to date.
CoinSwitch Becomes The Highest Valued Indian Crypto Startup
India crypto exchange CoinSwitch Kuber has raised $25 Mn in a Series B funding round from Tiger Global Management, the latter making its first investment in an Indian cryptocurrency company. The capital was raised at a valuation of $500 Mn, making CoinSwitch the highest valued crypto startup in India.
Top Indian Startup Funding Deals This Week
Overall, $555 Mn was invested in Indian startups across 27 deals this week.
Note: This funding report is based on startups that disclosed funding amounts
Acquisitions This Week
MPL Acquires GamingMonk
Indian gaming startup Mobile Premier League (MPL) has acquired New Delhi-based esports streaming platform GamingMonk, which holds esports tournaments and access to multiple platforms including PC, console and mobile. As part of the transaction, MPL has absorbed the complete GamingMonk team. This acquisition will allow MPL to accelerate bringing to market key national, regional and global tournament IPs and allow it to develop a full suite of esports and broadcasting capabilities.
IntrCity Buys Out GoldSeat
IntrCity has acquired GoldSeat, an ‘in-bus applications & telematics platform’, to expand its SmartBus fleet. The acquired technology will help the brand in strengthening its own mobility platform, which manages the IntrCity SmartBus fleet across 14 states in India. The platform’s capabilities include GPS based location monitoring and tracking, CCTV feed management, multi network Wi-Fi, passenger information and announcement system.
Fund Announcement
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