In this episode of India Tech - Weekly Deals Roundup: India Tech saw 20 companies including slice, Bugworks Research etc raised over $264.1 million from investors such as Tiger Global Management, Insight Partners Sunley House Capital Management 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 Slice, Bugworks Research, and more. In exits, we will cover the acquisition of Happay by CRED among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $264 million of funding across 20 funding rounds during this week.
FinTech startup, Slice, raised $220 million in a Series B funding round led by Tiger Global Management and Insight Partners, with participation from Sunley House Capital Management, Moore Venture Partners, Blume Ventures, and others. Slice is a provider of credit cards for consumers. Slice offers credit cards for bill payments, cash withdrawals, online or offline purchases, and app-based virtual credit card for online transactions. Slice enables users to avail cash loans and make repayments in installments. Founded in 2016, Bangalore-based Slice has raised $281 million till date.
Bangalore-based Life Science startup, Bugworks Research, raised $16 million in a Series B funding round. Bugworks Research is a developer of drugs for antibiotic-resistant bacterial infections. Bugworks Research offers, ELUDE, an efflux avoidance platform. Bugworks Research's lead compound is being developed as an intravenous and oral treatment for multi-drug resistant infections. ELUDE inhibits two essential targets in the replication machinery and has been designed to by-pass efflux resistance mechanism of the bacteria. Founded in 2014, Bugworks Research has raised $34 million till date.
EdTech startup, 21K School, raised $5 million in a Seed funding round from Ronnie Screwvala. 21K School operates K-12 school. 21K School provides solutions for computational thinking, languages, summer school program, and skill-based programs. 21K School also provides courses for blockchain, data science, cloud computing, cyber security, and others. Founded in 2020 by IIT Delhi alumni, bangalore-based 21K School has raised $5 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 05 Dec 2021.
Bangalore-based FinTech startup, Happay, was acquired by CRED for $180 million. Happay provides expense management software and corporate card for businesses. Happay offers solutions for tracking fleet operations, approving invoices, tracking payments, account payables automation, cash flow management, expenditure tracking, and more. Happay also offers prepaid cards, virtual credit cards and provides a travel booking platform for employees. Founded in 2012, Happay has raised $22 million till date from Times Internet, Prime Venture Partners, Sequoia Capital, and others.
Bangalore-based enteprise application startup, Algopixel Technologies, was acquired by AUS. Algopixel Technologies is a provider of mapping software solutions for the drone industry. Algopixel Technologies offers, WebODM, an open-source drone mapping software. Algopixel Technologies also offers iDronePort Management Server, which is a Flight Module Management Server for drone manufacturers to register their drones.
FinTech startup, Telr, was acquired by Cashfree for $15 million. Telr is a payment gateway API and online shopping store. Telr provides a set of APIs which can be integrated into merchant's website to start accepting web and mobile based payments. Telr also provides a platform for building online and mobile stores. Telr offers solutions such as hosted gateway, recurring billing, fraud protection, merchant cash advance, data analytics, and insights. Founded in 2013, Mumbai-based Telr has raised $3 million till date from Hatcher, iMENA Group, and more.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts 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.