Lots of funding: From Innovaccer to Zomato – $ 440 Mn raised by Indian startups [February 22 -27]

Innovaccer and Infra.Market joined the unicorn club, after Tiger Global led its financing round

Former Paytm Money CEO Pravin Jadhav unveiled his latest fintech venture, Raise Financial, this week

In total, $ 440 million was invested in Indian start-ups in 19 businesses this week

We bring you the latest edition of Funding Galore: Indian Startup Funding of the Week

All thanks to Tiger Global Management, there were two entries in the unicorn club this week – Innovacer and Infra.Market. Innovaccer picked up one unpublished sum in the Serie D round led by Tiger Global with the participation of OMERS Growth Equity and existing investors such as Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and M12 (Microsoft’s venture capital fund). With this, the Noida and San Francisco-based company has become India’s first health technology unicorn.

Meanwhile, Infra.Market is the first company in its niche domain to also join the club. The company is a B2B online procurement market for real estate and building materials that uses technology to offer fair prices and a smoother procurement experience for its customers. It rose $ 100 million in the C-Series round led by Tiger Global, with participation from Accel Partners, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund and Foundamental Gmbh.

In total, $ 440 million was invested in Indian start-ups in 19 businesses this week.

Note: This funding report is based on startups that revealed funding amounts

The best Indian starting deals this week

Start Sector Financing Series Investor
Zomato Foodtech $ 250 Mn Not revealed Tiger Global, Kora, others
Infra.Marknad E-commerce $ 100 Mn Series C Tiger Global
Doubtnut Edtech $ 31 Mn Not revealed SIG Investments, Lupa Systems, Other
Hubilo Media and entertainment $ 23.5 million Serie A Lightspeed Ventures, Balderton Capital, Others
Effect analysis Enterprise Tech $ 11 million Not revealed Argentum Capital Partners
Dunzo Hyperlocal delivery 8.1 Mn $ Series E Hana Financial Investment, BHK Trading LLP, Other
Arzooo Retail Tech $ 6 million Venture Debt Trifecta Capital
MyShubhLife Fintech $ 4 Mn Not revealed Patamar Capital, others
Kutuki Edtech $ 2.2 million Seed Omidyar Network India
Argoid Enterpise Tech $ 1.7 million Seed YourNest Venture Capital, Turbostart, TeamLaunchpad.vc
oDoc Healthtech $ 1 Mn Pre-series A Techstars, Hustle Fund, unpopular companies
Zoomcar Transport technology 679 k $ Internal round Zoomcar Inc.
Comofi Medtech Healthtech 292 k $ Not revealed CIIE.CO, JITO Angel Network, KIIT Technology Business Incubator (KIIT-TBI)
CouchFashion Retail Tech $ 150 million Seed We Founder Circle (WFC)
Innovaccer Healthtech Not revealed Series D Tiger Global Management, others
Increase financially Fintech Not revealed Seed Mirae Asset Venture Investments, Blume Ventures’ Founders Fund, Social Leverage
Hubhopper Media and entertainment Not revealed Not revealed Hindustan Times Media
Unacademy Edtech Not revealed Not revealed Sachin Tendulkar
Battery Smart Clean Tech Not revealed Seed Orios Venture Partners, Faad Network

Acquisition in Indian Startup Ecosystem

This week’s second development

  • Chennai-based tech tech startup Chargebee is reportedly close to raising $ 150 million at a valuation of $ 1.4 billion. The company is said to be raising funding from a US investor, with existing supporters Tiger Global, Steadview Capital and Insight Partners also participating in the round.
  • JustDial, headquartered in Mumbai, has launched its B2B e-commerce portal JD Mart. The platform will connect bulk buyers with wholesale sellers across product categories.
  • Mukesh Ambani-led digital company Jio Platform wants to invest $ 200 million in home-grown venture capital firm Kalaari Capital and pour more capital into Indian start-ups. Reliance Industries has previously acquired four of Kalaari’s portfolio companies, including edtech startup Embibe 2018, lingerie online reseller Zivame 2020, AI-driven chatbot Haptik 2019 and furniture start online Urban Ladder 2020.
  • Bengaluru-based payment gateway Razorpay wants to raise another $ 150 Mn- $ 200 Mn financing to a valuation of $ 2 Bn. The company is currently in discussions with existing investors, including the Singapore Investment Corporation (GIC), Tiger Global and Sequoia Capital.
  • Dream11’s parent company Dream Sports plans to raise one new $ 300 million fund from Abu Dhabi’s Alpha Wave Incubation managed by Falcon Edge to provide output to China’s Tencent Holdings, Kalaari Capital and Multiple Alternate Asset Management among other investors. The round will be increased through the sale of secondary shares to a valuation of 4 billion dollars.