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27/10/2022

Bengaluru-based Business-to-business e-commerce major Udaan has raised $120 million in convertible notes and debt led by existing shareholders and bondholders, according to an internal email sent by the company’s chief financial officer (CFO) Aditya Pandey.

The startup is also getting ready for an IPO in the next 12-18 months, Udaan’s CFO stated in a mail

With this fundraise, the startup has raised over $350 Mn in debt.

Udaan also acknowledged the paucity of funds and challenges being experienced by the larger startup ecosystem.

The six-year-old company provides procurement, logistics and working capital to small and medium merchants across India.

It claims to have a network of over 3 million retailers, chemists, kirana shops with a supplier base of 30,000 sellers which covers 1200 cities and towns in India.

Its direct and indirect competition includes Moglix, Zilingo, Jumbotail, OfBusiness, IndiaMart among others.

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27/10/2022

-BILL GATES-

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21/10/2022

Full-stack agritech platform DeHaat has raised Rs 366.6 crore or $46 million led by Sofina Ventures. The board at DeHaat has passed a special resolution to 2,69,192 Series E preference shares at an issue price of Rs 13,620 per share to raise Rs 366 crore or $46 million, a regulatory filing with the Registrar of Companies shows.

DeHaat provides customised inputs, advising, financial services, and market linkages to farmers for distribution. Importantly, it also connects farmers with third-party lenders for their working capital and large enterprises such as Reliance Fresh, Zomato and Udaan for bulk selling.

At present, the company is operational in Bihar, Uttar Pradesh, Odisha, and West Bengal with 350,000 farmers and aims to bring its services to 5 million farmers by 2024.

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14/07/2022

Mobile-first credit card startup OneCard has entered the coveted unicorn club with over $100 million in Series D round from existing and new investors. This is the second round of funding for the firm in the past seven months.

OneCard has become the 104th unicorn of India and 19th in the ongoing calendar year (2022). The company also turned out to be the second unicorn in the credit card challenger space after Slice.

28/06/2022

Progcap, which facilitates debt capital for underserved micro and small businesses, has raised $40 million in its extended Series C round.

Founded by Pallavi Shrivastava and Himanshu Chandra, Progcap is a financial technology platform that digitizes supply chains and facilitates access to finance for last mile retailers.

The company empowers retailers by providing them access to flexible, customized capital that matches their business growth requirements along with a host of other technology solutions to help them increase profitability, manage cash flow, and expand their businesses.

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23/06/2022

Tea-cafe chain Chaayos on Thursday (June 23) said that it has raised $53 Mn in its Series C funding round led by Alpha Wave Ventures. The fundraise also saw participation from Elevation Capital, Think Investments and Tiger Global.

Chaayos will use the fresh capital to ramp up its tech infrastructure and to shore up hiring across multiple verticals

Chaayos currently runs 190 stores across 6 cities, with online tea deliveries contributing 45% to its revenues

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23/06/2022

- INGVAR KAMPRAD -
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23/06/2022

B2B food and agritech platform Waycool has raised $40 million in an equity and debt round led by alternative investment firm 57 Stars Global Innovation Fund. This is the second round of funding for the Chennai-based firm in 2022.

WayCool claims to work with more than 150,000 farmers and 100,000 clients who source agricultural and dairy products from the company.

Founders: Karthik Jayaraman and Sanjay Dasari

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20/06/2022

B2B Fintech SaaS Startup FinBox Secures $15 Mn To Expand To SEA.

The startup allows fintechs to launch new lending products and non-fintechs to include embedded finance in their platforms

FinBox said that it will also double its current workforce to enable the said expansion plans

FinBox counts the likes of ZestMoney, Khatabook, TrueBalance, Home Credit India and IIFL among its 50 clients in total

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06/06/2022

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06/06/2022

Cloud kitchen company Curefoods has raised $46 million or ₹343 crore in its Series C round led by Cayman-based Crimson Winter and participated by existing investors including Iron Pillar, Accel, Chiratte, Three State capital and Sixteen Street.

Curefoods is a cloud-kitchen platform which operates brands like EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone. At present, it has over 100 kitchens across 12 cities in India.

31/05/2022

Omnichannel beauty company SUGAR Cosmetics has closed its $50 million Series D round led by the Asia fund of L Catterton, one of the largest global consumer-focused private equity firms.

Decade-old Sugar positions itself as an omnichannel brand with a presence in over 40,000 retail stores while selling its products on e-commerce marketplaces including Amazon, Nykaa and Myntra. It also retails via its own website and mobile app facilitating sales outside India which includes Germany, Italy, USA and Korea.

30/05/2022

ITC Ltd on Saturday announced that it has completed the acquisition of a 10.07% stake in Blupin Technologies, the parent company that owns the D2C mother and baby platform Mylo.

The Kolkata-based FMCG giant has invested INR 39.34 Cr ($5.077 Mn) in Mylo, acquiring 400 equity shares and 2,980 compulsorily convertible cumulative participating preference shares, according to a regulatory filing.

The investment was a part of Mylo’s $17 Mn Series B round that took place in April 2022

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10/05/2022

Oyo acquires Europe-based Direct Booker with the transaction valuing the latter at around USD 5.5 million (over Rs 40 crore).

Direct Booker has over 3,200 homes and serviced 20 lakh customers so far, OYO said in a statement.

This acquisition will strengthen OYO's presence in Europe broadly and Croatia specifically where it already has nearly 1,800 vacation homes on its Belvilla platform and over 7,000 homes on its Traum Ferienwohnungen platform, it added.

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10/05/2022

Its operating revenue has soared 15X to Rs 100 crore in the fiscal year ending March 2021 from Rs 6.5 crore in FY20.

Wow Skin Science’s entire revenue came from the sale of goods. Apart from its own website, the company leverages third party e-commerce marketplaces such as Amazon, Flipkart and Nykaa besides brick and mortar stores as sales channels.

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30/04/2022

Direct to consumer (D2C) educational product brand Skillmatics has raised a new round led by Sofina Ventures.

It had raised $6 million Series A in June 2021.

Founded by Dhvanil Sheth, Skillmatics develops educational products and games for children aged under 10. The startup claims to have over 15,000 offline stores present across 15 countries and sold over 3 million products. It offers educational toys and games across Science, Technology, Engineering and Maths streams.

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30/04/2022

Pune-based infant products marketplace Firstcry is inching closer towards a public listing with the company just converting into a public company. Its board has passed a resolution to convert their entity from private to public, regulatory filings show.

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28/04/2022

Online debt marketplace CredAvenue has acquired a majority stake in Corpository, a full-stack corporate credit underwriting company at a valuation of Rs 100 crore.

CredAvenue’s platform connects businesses seeking loans with financial institutions and other investors. Its solutions include vendor and dealer financing, and a bonds marketplace that provides access to exclusive primary and secondary bonds.

Founded in 2016, Corpository uses automation to generate insights via technologies such as optical character recognition, machine learning, artificial intelligence, pattern recognition and robotic process automation.

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28/04/2022

Bengaluru- based Co-working space provider IndiQube raised $30 million in one of the largest funding rounds for a co-working startup in the post covid period.

he investment was led by the company’s promoters, joined by Westbridge Capital and angel investor Ashish Gupta.

Its revenue from operations grew by 23.4% from Rs 238.75 crore in FY20 to Rs 294.5 crore during FY21, as per the company’s annual financial statement.

The company currently has around 4.5 million Sq Ft office space in its 60 properties spread across 8 cities. Apart from office rentals, it also offers workspace management solutions including facility management, cafeteria and employee transport handling.

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28/04/2022

Bengaluru-based Premium tea brand TeaMonk has raised Rs. 3.5 crore in a pre-Series A round led by Inflection Point Ventures.

The funds raised will be utilised for domestic pe*******on and exploring uncharted territories in international markets.

The startup is currently distributing in countries such as the US, UK, UAE, Canada, Germany, Australia and India.

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28/04/2022

Multi-channel eyewear brand Lenskart has raised another $25 million in its ongoing Series I round led by existing investor Epiq Capital.

Unlike FY20 in which Lenskart’s revenue grew by 90%, its scale didn’t grow at all in FY21. Its revenue stood at Rs 905.3 crore in FY21 as compared to Rs 900 crore in FY20. Importantly, the company had increased its annual profit by nearly 4.6X to Rs 28.92 crore from Rs 6.32 crore booked during FY20.

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26/04/2022

The bus tracking and ticketing service provider Chalo has raised close to $14 million in a fresh round from new and existing investors. This is the second round of funding for the company in the past six months.

Chalo makes money by tying up with local city bus operators across India, and providing GPS tracking and online ticketing for passengers, which includes digital bus passes for multiple journeys; the operators pay the company for increased ridership.

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26/04/2022

Foodtech platform FreshMenu has raised a new round from Florintree Solutions. This would be the first major funding round for the Bengaluru-based company in the past three years.

The move seems to be a part of a bigger round that FreshMenu is likely to raise in the coming months.

Founded in 2014 by Rashmi Daga, FreshMenu offers a meal kit delivery service from its cloud kitchens located in Bengaluru, Mumbai, Delhi-NCR, Kolkata, among other cities.

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26/04/2022

Online food delivery company Swiggy has launched an accelerator program that allows its delivery executives to transition into full-time managerial-level jobs with a fixed salary and additional benefits.

Swiggy says it intends to reserve at least 20% of all fleet manager hires for its delivery executives.

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26/04/2022

Nao Spirits, the maker of Indian craft gin brands, has raised Rs 20 crore from United Spirits.

Founded by Anand Virmani, Aparajita Ninan and Abhinav Rajput, the startup has two gin brands under its umbrella: Greater Than and Hapusa. Nao Spirits sources its bottles, labels, and a few botanicals from abroad.

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19/04/2022

Microsoft Corporation has joined Udaan’s debt financing round of over $200 million, according to a note sent to employees by Aditya Pande, CFO of the B2B e-commerce platform.

The company has operations across categories including lifestyle, electronics, home & kitchen, staples, fruits and vegetables, FMCG, pharma, toys and general merchandise.

It claims to have a network of over 3 million users in 900 cities by connecting them to over 25,000 sellers across the country.

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19/04/2022

Education-focused lending platform Financepeer has raised around $38 million in a Series B round led by QED Fund.

This would be the second institutional round for the Bengaluru-based firm. It had raised Series A led by Jaipur-based NBFC, MS Fincap in September 2020.

Financepeer claims that over 22,00,000 parents use its credit platform to pay their children’s fees across 6,000 institutes at one go. The company enables parents to repay tuition fees to Financepeer in monthly installments and provides ancillary services. Some of the notable schools on the platform include Delhi Public School, GEMS Education, Birla Open Minds and Orchids, Khan Academy and Fliplearn among others.

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11/04/2022

BharatPe has been going by means of tumultuous instances due to the problems round company governance, alleged fraud and inner feud between the promoters and backers. Whereas the impression of those points on the corporate’s enterprise will probably be recognized when BharatPe will file monetary outcomes of FY22, FY21, when none of those points had surfaced but, has turned out to be the primary yr of significant revenues for the fintech unicorn after producing income of Rs 6 crore for FY19 and FY20 mixed.

The Delhi-based firm noticed its income from operations shoot up round 20X to Rs 119.1 crore throughout FY21 as collections from its enterprise loans section grew considerably, its annual monetary statements with the Registrar of Firms (RoC) present.

#2022

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