In this episode of India Tech - Weekly Deals Roundup: India Tech saw 39 companies including TSLC, Ola etc raised over $748 million from investors such as JPIN, Rothschild & Co Hero Corp 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 TSLC, Ola, OlaElectric, Delhivery, PocketFm, and more. In exits, we will cover the acquisition of AZAH by Powerhouse91 among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $748 million of funding across 39 funding rounds during this week.
FinTech startup, TSLC, raised $200 million in a Series B funding round led by JPIN and Rothschild & Co. TSLC is an AI-driven platform providing digital banking services for underserved individuals. TSLC services include savings wallets, physical and virtual credit cards for online or offline purchases, bill payments, money transfers, and more. TSLC leverages machine learning technology for predicting customer behavior. TSLC features include personal loans, point of sale financing, insurance, and more. Founded in 2019, Mumbai-based TSLC has raised $225 million till date.
Bangalore-based Auto Tech startup, Ola, raised $139 million in a Series J funding round led by Hero Corp, IIFL Finance, and Edelweiss. Ola is an app-based ride-hailing aggregator. Ola's users can book their ride by providing location, passenger details, and find various rides including cars, auto-rickshaws, two-wheelers, and more. Ola offers features like real-time tracking, variant payment options, in-app payments, membership services, pay later options, and more. Ola's users are also allowed to book outstation rides, local rides, self-drive car rentals, corporate rides, and more. Founded in 2010 by IIT Bombay alumni, Ola has raised $4 billion till date.
Auto Tech startup, Ola Electric, raised $139 million in a Series C funding round led by Temasek with participation from IIFL Asset Management, Vss Investco Pvt Ltd, Edelweiss, Farhan Akhtar, and others. Ola Electric is a developer of electric scooters. Ola Electric develops electric scooters with the help of AI-enabled robots that claim to offer sustainable and eco-friendly rides to users. Ola Electric claims to provide vehicle leasing solutions to users. Founded in 2017, Bangalore-based Ola Electric has raised $665 million till date.
Transportation and Logistics Tech startup, Delhivery, raised $98 million in a Series I funding round led by FedEx. Delhivery is a provider of end-to-end delivery services for e-commerce companies. Delhivery offers fullfillment services that include last-mile delivery service, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse, vendor-to-customer shipping, cross-border services, and more. Delhivery also provides a tracking solution for all shipments. Founded in 2011, Delhi-based Delhivery has raised $1 billion till date and became a unicorn in the year 2019.
Online travel startup, RateGain, raised $79 million in a Series B funding round led by Gov.sg, Nomura, Ashoka India Equity Investment, and Goldman Sachs. RateGain is a provider of cloud-driven management solutions for the hospitality & travel industry. RateGain offers products such as pricing intelligence, rate parity, revenue maximization, distribution, guest experience on a cloud platform, and more. RateGain also provides revenue management, distribution system, marketing, hospitality management, social media management, and data analytics solutions. Founded in 2004, Noida-based RateGain has raised $144 million till date.
Crop Tech startup, Agrostar, raised $70 million in a Series D funding round led by Schroders, Hero Corp, CDC Group, and Evolvence India with participation from Accel, Rabo Frontier Ventures, and others. Agrostar is an online platform offering agri-inputs, content, and advice. Agrostar claims to offer products like seeds, fertilizers, tractors, pumps, pesticides, and more. Agrostar platform offers expert advice, agricultural data, agronomy knowledge, and weather forecast solutions for farmers. Founded in 2008, Pune-based Agrostar has raised $117 million till date.
Media & Entertainment startup, Pocket FM, raised $22 million in a Series B funding round led by Lightspeed Venture Partners, with participation from The Times Group and Tanglin Venture Partners. Pocket FM is a SaaS-based online audio platform offering audiobooks and podcasts in multiple languages. Pocket FM enables users to register and search for audiobooks and music by applying an artist filter. Pocket FM offers Indian radio shows and audiobooks in multiple languages such as Hindi, Tamil, and Bengali. Pocket FM's mobile app is available for Android devices. Founded in 2013 by IIT Kharagpur alumni, Gurgaon-based Pocket FM has raised $29 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 12 Dec 2021.
Gurgaon-based beauty tech startup, Azah, was acquired by Powerhouse91. Azah is an internet-first brand of personal hygiene products. Azah offers sanitary pads for women. Azah claims that the products are made of organic cotton and are ISO 9001 certified and FDA approved. Azah provides free shipping. Azah was founded in 2018.
Bangalore-based marketing tech startup, 3MDigital, was acquired by BICS. 3MDigital offers solutions to enable text and call-based marketing campaigns. 3MDigital's offering includes Mobtexting, a bulk messaging platform targeted at marketing and customer support needs, and DND Check, to enable telemarketing campaigns. 3MDigital also offers digital marketing services and technology development in the relevant areas. 3MDigital was founded in 2012.
Mumbai-based Edtech startup, Talentedge, was acquired by upGrad. Talentedge is an online platform that provides online digital courses on various topics. Talentedge courses are prepared by educational institutions and organizations. Talentedge course catalog includes courses on management, finance, sales, marketing, analytics, HR, entrepreneurship, and more. Talentedge features include online face-to-face learning, interactive learning, and more. Talentedge also provides personalized career advancement services. Talentedge was founded in 2012.
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.