Funding Galore: Indian Startup Funding Of The Week [September 21

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Edtech big BYJU’S has raised an undisclosed quantity in a funding spherical from New York-headquartered asset supervisor BlackRock, Sands Capital and hedge fund Alkeon Capital. Current traders Basic Atlantic, Owl Ventures and Tiger International Administration too participated within the spherical.

This funding is a part of BYJU’S ongoing $500 Mn funding spherical introduced earlier this month led by Silver Lake and present traders. The corporate has managed to extend its valuation from $eight Mn to 10.5 Bn between March to August 2020. For the reason that lockdown, it has added over 25 Mn new college students on its platform. On August 5, it additionally acquired the Mumbai-based on-line coding platform WhiteHatJr for $300 Mn.

Total, $243 Mn was invested throughout 18 Indian startups this week, and two acquisitions happened. (This funding report relies on startups that disclosed funding quantities).

Indian Startup Funding Of The Week

1. Cellular Premier League: $90 Mn
2. ShareChat: $40 Mn
3. Hopscotch: $25 Mn
4. Servify: $23 Mn
5. Samunnati: $20 Mn
6. Smallcase: $13.42 Mn
7. Pristyn Care: $12 Mn
8. Onsitego: $10 Mn
9. BestDoc: $2.1 Mn
10. Clairvolex: $2.1 Mn
11. Fokuz: $2 Mn
12. Rephrase.ai: $1.5 Mn
13. WoodenStreet: $1 Mn
14. ClanConnect. Ai: $678Okay
15. AFK Gaming: $200Okay
16. BYJU’S: Undisclosed
17. WeInnovate Biosolutions: Undisclosed
18. MobiGarage: Undisclosed

• Cellular Premier League: Bengaluru-based cell esports platform Cellular Premier League (MPL) has raised $90 Mn in a Sequence C funding spherical led by SIG Ventures, RTP world and MDI Ventures. Sequoia India, Go-Ventures and Base Companions had participated on this spherical. It plans to develop outdoors of India within the upcoming months.

• ShareChat: Bengaluru-based Indian regional language social platform ShareChat has raised $40 Mn funding from traders together with Twitter Inc and Lightspeed Ventures in its Pre Sequence E spherical. The spherical additionally noticed participation from SAIF Companions and India Quotient. The funding might be used to develop Sharechat’s newest quick video app Moj.

• Hopscotch: Mumbai-based on-line retailer Hopscotch has raised $25 Mn from Fb cofounder Eduardo Saverin’s funding arm EE Capital, Lionrock Capital, Rise Capital, RPG Ventures and IIFL Seed Ventures Fund. A number of outstanding angel traders additionally participated on this spherical.

• Servify: Mumbai-based machine lifecycle administration platform Servify has raised $23 Mn in Sequence C spherical led by Iron Pillar. Blume Ventures, BEENEXT and Tetrao SPF have additionally participated on this spherical, together with Sparkle Fund, SF Roofdeck Capital, Go Ventures and Madhu Kela Household Workplace.
  

• Samunnati: US Worldwide Improvement Finance Company (DFC) has dedicated $20 Mn debt funding to non-banking monetary firm (NBFC) Samunnati Monetary. It’s going to assist d the NBFC to develop its financing and technical help to low-income farmers and enterprises all through the agricultural worth chain in India.
  

• Smallcase: Funding tech startup Smallcase funding is elevating $13.four Mn (INR 99 Cr) in a mixture of fairness and desire shares from a clutch of traders as part of its Sequence B spherical. DSP Asset Administration Agency, Sequoia’s SCI Funding V, Milestone Trusteeship Companies, BEENEXT, Unitary Funds and others participated on this spherical. It’s going to use this funding to fulfill its progress targets and strengthen its monetary place.

• Pristyn Care: Gurugram-based healthcare platform Pristyn Care has raised $11 Mn (INR 86.14 Cr) from SCI Investments, Redwood Belief, Hummingbird Ventures, and Epiq Capital.

• Onsitego: After-sales companies startup Onsitego has raised $10 Mn in its Sequence B spherical from IFC. Total, the corporate has raised $30 Mn in Sequence B spherical. Onsitego might be utilizing the freshly raised funds to consolidate its market place and strengthen its B2C choices like AMC, residence safety. and on-demand companies.

• BestDoc: Kerala-based healthtech SaaS startup BestDoc has raised $2.1 Mn (about INR 16 Cr) in a  Pre-Sequence A spherical from Accel Companions and Arkam Ventures. Bengaluru-based SEA Fund, an present investor additionally participated on this spherical. It plans to make use of the funds to develop its presence throughout India and develop merchandise aimed toward enhancing the in-patient admission and hospitalisation expertise.

• Clairvolex: Mental property (IP) options firm Clairvolex has raised $2 Mn (INR 16.68 Cr) in debt from IndusAge International Expertise Enterprise Fund & JF Mauritius SPV (particular goal car).

• Fokuz: Fokuz, which is a video-conferencing platform developed by Kochi-based Skyislimit Applied sciences, has secured $2 Mn from a US-based healthcare and manufacturing firm.

• Rephrase.ai: Bengaluru-based startup Rephrase.ai has raised $1.5 Mn in seed funding led by Lightspeed Ventures and AV8 Ventures. It’s going to use the funding to scale its AI-powered video personalisation platform, strengthen its industrial presence in North America, and develop its engineering and analysis groups based mostly out of Bengaluru.

Extra Funding From The Indian Startup Ecosystem 

• Customized furnishings startup WoodenStreet has raised $1 Mn to develop its companies to West Bengal by opening two new Expertise Shops.

• Delhi-based self-serve influencer advertising startup ClanConnect.ai has raised $678Okay in seed funding spherical from Enterprise Catalysts, Forest Necessities’ Samrath Bedi, Droom’s Sandeep Aggarwal, Haptik’s Aakrit Vaish and Redchillies VFX’s Haresh Hingorani.

• Mumbai-based media firm AFK Gaming has raised $200Okay in a Pre-Sequence A spherical from Indian funding firm Inflection Level Ventures. The funds might be used to hyperlink attain to income via programmatic and direct promoting in addition to increasing AFK Gaming’s scope to further esports titles in Southeast Asia.

• Enterprise capital fund Chiratae Ventures has introduced a seed funding in WeInnovate Biosolutions, which was part of the sixth cohort of the VC agency’s DeepTech Innovator Programme.
  

• Delhi-based cell {hardware} and repair platform MobiGarage has raised undisclosed quantities in its ongoing pre-Sequence A spherical from US-based SOSV.

Acquisitions This Week

• Bengaluru-headquartered edtech startup Unacademy acquired a UPSC take a look at preparation platform Coursavy for an undisclosed quantity to strengthen its place in the united states take a look at prep market.

• The Competitors Fee of India (CCI) has accredited the merger of on-line pharmacies Medlife with PharmEasy. The deal will see API Holdings, the father or mother entity of PharmEasy, purchase 100% fairness shares of Medlife, filings with the CCI present. Medlife’s promoters will in return get a 19.95% stake within the mixed entity.

Different Developments Of The Week

• Google India has launched the listing of startups for the fourth batch of Google for Startups Accelerator India programme. The 20 Indian startups chosen to be part of the programme embrace Antwak, BharatAri, BlackLight Video games, Decoder, Components.ai, Cunning.in, Gram Powder, InnerHour, Leher, Lokal, Math Buddy, Mera Cashier, Mosaic Wellness, myHQ, Navia Life Care, Orowealth, Virohan, Wellthy Therapeutics, Womaniya, and Zeo Auto.

• Jaipur-based Girnar Software program (extra generally referred to as GirnarSoft), the father or mother firm of CarDekho, BikeDekho, Gaadi.com, Zigwheels.com and BusesDekho.com amongst different ventures, has invested $20Mn in its insurance coverage enterprise InsuranceDekho to strengthen its presence in 32 cities throughout India within the subsequent six months. It additionally plans to onboard one lakh brokers; up to now they’ve onboarded 20,000.

• Sachin Tendulkar backed gaming firm Smaaash has determined to close down the corporate. In an e mail to his workers despatched on September 15, founder Shripal Morakhia stated, he was sorry that regardless of his finest efforts he has failed in his efforts to save lots of the corporate from its untimely dying.

• Bengaluru-based vehicle-sharing market Drivezy is in talks to lift $30 Mn in a funding spherical led by an undisclosed Center East sovereign fund, together with the funding arm of UK-based worldwide oil firm Shell International, Shell Ventures B.V. The corporate plans to make use of this funding to develop its operations in Abu Dhabi.

• Synthetic intelligence (AI)-driven logistics startup Fleetx.io is trying to increase $3.14 Mn (INR 23.19 Cr) to develop its enterprise and fulfill its working capital necessities.

• Japan’s MonotaRO Co Ltd has invested $15 Mn (about INR 110.5 Cr) in a three way partnership with IndustryBuying to develop the latter’s small and medium enterprises (SME) ecommerce enterprise in India. MonotaRO will personal 51.6% stake within the JV, IB monotaRO Pvt Ltd, whereas the remainder might be held by IndustryBuying.

• About eleven social enterprises from the Atal Incubation Centre-IIIT-Hyderabad’s first cohort of its Akash and Dhanush programme have graduated. These embrace 1Money, Candiphi Healthcare, Truspectra India Locus Scaleup Consultants, Xshala Energetics, Aquatic Livelihoods, Vitthai Agri Options, Cerelia Nutritech, Ambus Companies, Checkroof and Subsequent Abilities 360.