Ample funding: From Donzo to Dhat – $ 166 million raised by Indian startups [January 18 -23]


Donzo has raised $ 40 million from Google, Lightbox and others in the E Series

Nazara Technologies has submitted its papers for its IPO to SEBI

This week, about $ 166 million was invested in Indian start-ups in 26 deals

We bring you the latest edition of Abundant Financing: This Week’s Indian Startup Financing

This week, Bangalore-based hyperlinked startup Dunzo raised $ 40 million in the ongoing E Series financing round from new and existing investors, including Google, Lightbox, Evolvence, Hana Investment Investment, LGT Lightstone Aspada and Alteria among others. The company plans to use this capital for sustainable growth and take advantage of the stretch achieved in recent months in Mumbai, Chennai and Pune, with the exception of Delhi NCR and Bangalore.

The company previously raised $ 28 million in a Series E financing round led by Google and Lightstone. Existing investors Lightbox, 3 L Capital, Moving Capital, Pivot Ventures and Bhoruka Finance Corporation also participated in this round.

A total of $ 166 million was invested in Indian start-ups this week in 26 deals, and one company was acquired.

Note: This funding report is based on start-ups that have discovered funding amounts

The best financing deals of this week’s Indian operating companies

  • Donzo: $ 40 million in series E from Google, Lightbox, Evolvence, Hana Investment Investment, LGT Lightstone Aspada and Alteria among others
  • Dahat: $ 30 million in Series C by Prussus Ventures (formerly known as Naspers), Sequoia Capital India, Entrepreneurial Development Bank FMO, Omnivore and AgFunder
  • MFine: $ 16 million from Heritas Capital, YS Investment, SBI Investment, SBI Ven Capital, BEENEXT and Alteria Capital
  • AlphaICs: $ 8 million in Series B from Endiya Partners, Emerald Technology Ventures, ReBright Partners, 3one4 Capital, KARSEMVEN Fund, Aaruha Technology Fund, IREON Ventures, Canal Ventures, JSR Corporation, CBC Co Ltd and Whiteboard Capital.
  • Ripplr: $ 3 million in Series A from the Zephyr Peacock India Growth Fund, 3one4 Capital Family Office and Chand, Yukti.
  • Forlenko: Financing $ 2.7 million in debt from Blacksoil Capital
  • Fascinese: $ 2.6 million in a seed round of Accel Partners, Elevation Capital, the founders of Sanfal, the founders of Conel Bahel and Rohit Bensel, and Maluk Meital of Indipi.
  • Audio: $ 2.5 million in seed round of Alpha Wave Incubation (AWI), Better Capital, CRED founder Conal Shah and other investors in Angels.
  • Volopay: $ 2.1 million seed funding from Tinder founder Justin Matein, Soma Capital, CP Ventures, Y Combinator, VentureSouq, Razorpay founders – Shashank Kumar and Harshil Mathur.
  • BeyondSkool: A $ 2 million seed round from tomorrow
  • Activate credit: Merger Catalysts of $ 2 million, JPIN Merger Catalysts Ltd.
  • turnip: $ 1.63 million in a sperm round from Elevation Capital
  • ShopG: $ 1.5 million in seeding round by Orios Venture Partners, RPSG Ventures, Blackbuck CEO Rajesh Yabaji, taxi to former Sure Raghunandan G CEO, former Flipkart employee, Prashanth Nair
  • Mindler: $ 1 million in a preview series of Inflection Point Ventures, Taxmann Group and CIIE IIM Ahmadabad.
  • Info: $ 900,000 in Preview Series A by RVCF and other High Net (HNI) people
  • MemeChat: $ 150,000 from 500 startups as part of its acceleration program
  • Simple energy: An undisclosed amount and Lek Knyafen with the participation of four other investors
  • WealthDesk: An amount not published in the pre-A series from senior bankers and executives from global banks, market participants and other business corporations.
  • ClaimBuddy: Unpublished amount of seed round from Titan Capital, Angel LV Fund, Check First and other individual angel investors

Acquisition among Indian startups

Other developments of the week

  • Gaming company Nazara Technologies has submitted its draft Red Herring Prospectus (DRHP) relating to its initial public offering (IPO) to the India Securities Council (SEBI) last week (January 15). It became the first Indian gaming technology company to go public.
  • The food-accumulating business Zumato has acquired the full sports facilities provider and Fitso discovery start-up in a deal that is ostensibly worth INR 80 Cr-INR 100 Cr. Zumato reportedly announced the deal internally, but there was no official confirmation / announcement to the public. This will be Zomato’s first major acquisition after acquiring UberEats’ business in India for $ 350 million in January 2020.
  • Fireside Ventures, which invests in consumer brands, has announced the final closure of Fund II in the amount of $ 118 million (863 Indian rupees). The company focused this round on a corpus of about $ 100 million (750 INR rupees), but raised an additional $ 18 million (113 INR rupees) through the green option.
  • According to reports, a startup on a possible nutritional basis (formerly called Truweight Wellness) raised 5 rupees ($ 683,000) from Bollywood actor Ashwirai Rai Bechchan as part of a larger funding round of 15 rupees of INR ($ 2 million).
  • As Ola Electric begins construction of the world’s largest electric vehicle manufacturing unit, it seeks to raise $ 300 million from existing and new investors to build a brand, distribute and improve technology.
  • Serial investor Sanjay Mehta led by venture capital firm 100X.VC has unveiled the top 10 start-ups in its Class 03 portfolio. These startups are Vitra.ai, Accio Robotics, Chips Banana Chips, BurnCal, Solvio.ai, DCode Care, Cora, SaleAssist, Vecros and MicroDegree.
  • CCI has approved Flipkart’s $ 205 million (INR 1,500 crore) investment in Aditya Birla Fashion and Retail (ABFRL), which owns brands such as Pantaloons, Allen Solly and Peter England.
  • The Tata Group has come a few steps closer to injecting its super-applications with an initial cash flow of $ 200 million – $ 250 million at BigBasket, according to sources. This is part of the larger deal to acquire its largest stake in the largest online grocery company in India.
  • Kerala’s chief minister, Sheri Pinarai Vijian, said on January 19 that the state government was exploring the possibility of setting up a dedicated venture capital fund for startups. It also seeks to open up the government market to startup consortia and surpass the special fund for startup development.
  • Shiprocket has registered seven direct-to-customer start-ups (D2C) for the first installment of its RocketFuel launch acceleration program. The company plans to invest $ 478K (3.5 INR rupees) in each of these start-ups – Watchout Wearables, LoopAudio, Durmeric, Everpret, Supply6, BebeBurp and Georgia Foods.
  • The Gujarat University Startup and Entrepreneurship Council (GUSEC) has called for applications from Indian start-ups seeking to raise up to $ 68K (50 INR) under the GUSEC Seed initiative.