In this episode of India Tech - Weekly Deals Roundup: India Tech saw 17 companies including CoinDCX, Financepeer and Recur raise over $326 million from investors such as Pantera Capital, QED Investors, Info Edge, and 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 CoinDCX, Financepeer, Recur, and more. In exits, we will cover the acquisition of GlowRoad by Amazon, among others.
Starting with our deep dive into funding rounds, tech companies in India raised over $326 million of funding across 17 funding rounds during this week.
In a major funding round event, Mumbai-based FinTech startup, CoinDCX, raised $135 million in a Series D funding round led by Pantera Capital and Steadview Capital with participation from Polychain, Cadenza, B Capital Group, and others. CoinDCX achieved unicorn status in 2021 when it raised $90 million from B Capital Group, and others. CoinDCX is a provider of an app-based cryptocurrency exchange platform. CoinDCX offers crypto deposit, withdrawal, investment and trading solutions for retail, HNI, and enterprise customers. Founded in 2018 by IIT Bombay alumni, CoinDCX has raised $247 million till date.
FinTech startup, Financepeer, raised $31 million in a Series B funding round led by QED Investors, Aavishkaar Capital and Ardent Venture Partners with participation from 9Unicorns, Sparkle Fund, Capri Global Capital, and others. Financepeer is an online provider of education loans. Financepeer offers loans at zero-cost EMI to help parents pay school fees, with funding for the entire cost of education and related miscellaneous fees. Founded in 2017 by IIM Ahmedabad alumni, Mumbai-based Financepeer has raised close to $38 million till date.
Delhi-based Recur, a FinTech startup, raised $30 million in a Seed funding round led by Info Edge and Village Global, with participation from Adept Ventures, UGRO Capital, InCred, and others. Recur is an online lending platform for subscription-based businesses. Recur enables them to connect the subscription manager to the platform and share data for valuation, with machine learning-based valuation of limits. Recur also enables investors to invest in multiple companies based on interests. Founded in 2021, Recur has raised $30 million till date.
In another funding round event, InsurTech startup, Loop Health, raised $25 million in a Series B funding round led by General Catalyst Partners and Elevation, with participation from Khosla Ventures, Optum Ventures, Sierra Ventures, and others. Loop Health is a health benefits administration and management platform for employees. Loop Health offers group health insurance for businesses, as well as a platform for preventative screening and advanced disease detection, and expert opinions on diseases from doctors. Loop Health also facilitates health insurance, medical care and claim management. Founded in 2018, Pune-based Loop Health has raised $40 million till date.
UrbanPiper, a Food Tech startup, raised $24 million in a Series B funding round led by Sequoia Capital, Tiger Global Management, Swiggy and Zomato, with participation from Saahil Goel, Khadim Batti, Ankit Nagori, and others. UrbanPiper offers order management software for restaurants. UrbanPiper offers centralised dashboards and integrations, and enables users to update the catalogue, pricing, and coupons from the POS. UrbanPiper includes features like inventory management and order status updates. Founded in 2014, Bangalore-based UrbanPiper has raised around $37 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 6 exits during the week of 24 Apr 2022.
Bangalore-based E-commerce startup, GlowRoad, was acquired by Amazon. GlowRoad is an app-based reselling platform. GlowRoad enables small businesses to connect with enterprising women in a particular locality, who promote the business products and services through online and offline social networks, and organise sales for the business in their locality. Founded in 2017, GlowRoad has raised around $31 million till date.
In another acquisition event, Gurgaon-based E-commerce startup, ANS Commerce, was acquired by Flipkart. ANS Commerce is a provider of e-commerce solutions for online businesses. ANS Commerce offers solutions for in-store design and development, management of marketplaces, performance marketing, warehouse and fulfillment, customised data-driven dashboards, and third-party integration. Founded in 2010, ANS Commerce has raised over $2 million till date.
Tookitaki, a Bangalore-based FinTech startup, was acquired by Thunes. Tookitaki is a provider of AI-enabled AML and payment fraud detection solutions. Tookitaki offers an anti-money laundering suite to prevent and combat money laundering, as well as a reconciliation suite for AI-enabled matching and substantiation for reconciliation. Tookitaki also prevents false alerts by monitoring and screening programs. Founded in 2014, Tookitaki has raised over $20 million till date.
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 reach out to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.