In this episode of India Tech - Weekly Deals Roundup: India Tech saw 11 companies including Lenskart, Medikabazaar etc raised over $209 million from investors such as Alpha Wave Incubation, Lighthouse, and Sony, among others.
Welcome back to India Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in India from last week.
In this edition, we will cover funding rounds of Lenskart, Medikabazaar, Medfin, and more. In exits, we will cover the acquisition of Siddhi Vinayak Agri Processing by WayCool among others.
Starting with our deep dive into funding rounds, tech companies in India raised over $209 million of funding across 11 funding rounds during this week.
In a major funding round event Delhi-based eCommerce startup, Lenskart raised $100 million in a Series G funding round from Alpha Wave Incubation. Lenskart achieved unicorn status on July 19, 2021 when it raised $220 million from Temasek and Falcon Edge Capital with participation from International Finance Corporation and Bay Capital among others. Lenskart is an online retailer offering eyewear for men, women, and kids. Lenskart's product catalog includes computer glasses, sunglasses, contact lenses, etc. Lenskart also provides at-home eye-testing and frame trial services. The Lenskart mobile app is available on Android and iOS platforms. Founded in 2010 by IIM Bangalore alumni, Lenskart has raised around $915 million till date.
HealthTech startup, Medikabazaar raised $65 million in a Series D funding round led by Lighthouse with participation from KOIS, Creaegis, and Ackermans & van Haaren. Medikabazaar is an online marketplace platform for medical equipment. Healthcare providers can search, compare, and buy medical products and devices using a voice-based search engine and an online payment portal. Medikabazaar's product categories include hospital devices, materials, medical consumables, dental tools, and customer service on product specification and usage. Founded in 2014 by IIM Calcutta alumni, Mumbai-based Medikabazaar has raised over $165 million till date.
HealthTech startup, Medfin raised $15 million in a Series B funding round led by Sony with participation from HealthXCapital, Blume Ventures, and Axilor Ventures. Medfin is an online platform for listing medical procedures, hospitals, and clinics. Categories of procedures covered in Medfin include dentistry, vascular surgery, cosmetology, and orthopedics. Medfin allows users to search for the required surgery and get information about relevant surgeons, hospitals, costs, and EMI options. Users can also book a consultation with the listed doctors by entering details on the Medfin portal. Founded in 2017, Bangalore-based Medfin has raised $92 million till date.
Bangalore-based FinTech startup, MyShubhLife raised around $13 million in a Series B funding round from Gojo. MyShubhLife is an app-based platform for personal loans. MyShubhLife uses traditional and non-traditional data to compute the credit score assessment in order to provide financing solutions to borrowers. MyShubhLife also provides solutions for credit score checks, mutual funds, insurance, tax filing, and more. MyShubhlife App is available on Android devices. Founded in 2016 by IIT Madras alumni, MyShubhLife has raised close to $28 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 17 Apr 2022.
Pune-based Crop Tech startup Siddhi Vinayak Agri Processing was acquired by WayCool. Siddhi Vinayak Agri Processing is a provider of supply chain and agri processing solutions with a focus on potatoes. Siddhi Vinayak Agri Processing supplies cultivators with farm inputs including seeds, organic fertilizers, and expertise on cultivation through its network of village storefronts. Siddhi Vinayak Agri Processing works with small hold potato farmers and supplies to potato-based snack makers. Siddhi Vinayak Agri Processing's infrastructure offerings include extruder machines and cold storage solutions provided to SMEs. Founded in 2008, Siddhi Vinayak Agri Processing has raised over $9 million till date from SIDBI Venture Capital, Lok Capital, and Aspada Investments.
Kolkata-based Enterprise Applications startup Opportune was acquired by Wondrlab. Opportune is a platform offering software for influencer marketing. Opportune enables brands to collaborate with influencers to promote the brand or products. Brands can find and filter influencers as per preferences on the Opportune platform and can collaborate with them to launch campaigns.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts, Spotify, and Apple Podcast to stay updated. If you have any feedback, please reachout to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.