In this episode of India Tech - Weekly Deals Roundup: India Tech saw 40 companies including ShareChat, Innovaccer etc raised over $820 million from investors such as Alkeon Capital Management, Temasek Moore 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 ShareChat, Innovaccer, Ninjacart, Uni Cards, and more. In exits, we will cover the acquisition of MyLoanCare by PB Fintech among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $820 million of funding across 40 funding rounds during this week.
Bangalore-based Media & Entertainment startup, ShareChat, raised $266 million in a Series G funding round led by Alkeon Capital Management with participation from Temasek, Moore Capital Management, HarbourVest Partners, and others. ShareChat is a vernacular-based social networking platform for sharing photos and videos. ShareChat enables users to share content in various languages, follow local celebrities, and expand their network. ShareChat enables users to interact with content related to news, daily horoscopes, poetry, government job notifications, politics, microgames, and more. ShareChat offers a shake-and-chat feature to connect users engaging with content from similar genres, private messaging, and open tagging. ShareChat also offers a video platform for artists and creators to create short video content. Founded in 2015 by IIT Kanpur alumni, ShareChat became a unicorn in April 2021 and has raised $1 billion till date.
HealthTech startup, Innovaccer, raised $150 million in a Series E funding round led by B Capital Group, Schonfeld, Whale Rock Capital Management with participation from Dragoneer Investment Group, Steadview Capital, and others. Innovaccer is a Cloud and AI-based telehealth solution for health care providers and employees. Innovaccer's product is used in healthcare centers for population health management, AI-based patient engagement, decision support, and more. Innovaccer has developed a data activation platform to collect, analyze, and provide insights on patient health. Innovaccer provides multiple solutions like virtual care networks, remote patient monitoring, SDOH management, surgery optimization, CRM, referral management, and more. Founded in 2014, Noida-based Innovaccer has raised $378 million till date.
Bangalore-based B2B E-Commerce startup, Ninjacart, raised $145 million in a Series D funding round led by Walmart with participation from Accel, Mistletoe, Neoplux, and more. Ninjacart is an app-based B2B platform offering a supply chain and trading platform for vegetables and fruits. Ninjacart enables retailers and restaurants to place their orders through the app after which the products will be delivered to them by the logistics team. Ninjacart claims to deliver its products within twelve hours. Founded in 2015 by IIM Ahmedabad alumni, Ninjacart has raised $367 million till date.
Gurgaon-based Telecom company, Himachal Futuristic Communications, raised $79 million in Public funding round from Reliance industries, Elara Capital, Discovery Communications, and others. Himachal Futuristic Communications manufactures telecom equipment, optical fiber cables, and telecom network power systems. Himachal Futuristic Communications optical fiber cables include aerial, armored, FTTx, micro, and unarmoured cables. Himachal Futuristic Communications offers telecom equipment such as microwave Radios and GPON along with telecom power, battery management, and solar systems. Himachal Futuristic Communications was Founded in 1987.
FinTech startup, Uni Cards, raised $70 million in a Series A funding round led by General Catalyst Partners with participation from Accel, Lightspeed, Eight Roads Ventures, and others. Uni Cards offers a general-purpose credit card with 1/3 pay feature. Uni Cards credit card is backed by Visa which allows users to pay in 3 parts for no extra charges. Uni Cards gives the option of converting transactions to EMIs and rewards in the form of cashback if users choose to pay in full. Uni Cards also offers an app-based platform to manage payments and usage of the card. Founded in 2020, Bangalore-based Uni Cards has raised $89 million till date.
Bangalore-based FinTech startup, JusPay, raised $60 million in a Series C funding round led by SoftBank Vision Fund with participation from Wellington Management and VEF. JusPay is a payment gateway solution for eCommerce merchants. JusPay supports both desktop and mobile-based payment transactions. The credit/debit card details are stored in Juspay's server. JusPay enables customers to make online payments using mobile browsers or web browsers. JusPay also provides an OTP to customers for user authentication and fraud management. Founded in 2012 by an ex-Amazon employee, JusPay has raised $87 million till date.
Enterprise Applications startup, Hevo, raised $30 million in a Series B funding round led by Sequoia Capital with participation from Chiratae Ventures, Qualgro, and Lachy Groom. Hevo is a cloud-based automated data pipeline preparation solution. Hevo connects to the source and uses the transformation code to transfer data to the warehouse. Hevo's features include automated detection, scheme changes, real-time alerts & notifications on the data pipeline, data management, joining tables, writing queries, and more. Founded in 2016 by IIT Roorkee alumni, Bangalore-based Hevo has raised $43 million till date.
Energy Tech startup, Atomberg, raised $20 million in a Series C funding round led by Jungle Ventures with participation from Inflexor, A91 Partners, and Ramakant Sharma. Atomberg specializes in developing and manufacturing smart ceiling fans. Atomberg's products include Gorilla Efficio plus, Gorilla Renesa plus, Gorilla Studio fan, Renesa Smart plus, and more. Atomberg's fans are equipped with a BLDC motor and have features such as smart remote control, sleep mode, voice control, boost mode, and more. Founded in 2012 by IIT Bombay alumni, Mumbai-based Atomberg has raised $45 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 19 Dec 2021.
Gurgaon-based FinTech startup, MyLoanCare, was acquired by PB Fintech for $5 million. MyLoanCare is an App-based comparison platform for financial products. MyLoanCare provides comparisons for multiple loans products including home loans, business loans, personal loans, professional loans, asset-backed loans, and more. MyLoanCare also provides comparisons for credit cards, deposit accounts, gold rates, and more. Founded in 2013 MyLoanCare has raised $1 million till date from Ncubate Capital Partners, PB Fintech, and others.
Gurgaon-based beauty tech startup, Faces Canada, was acquired by Purplle. Faces Canada is an Internet-first brand offering multi-category beauty products. Faces Canada offers beauty products for lips, eyes, face, skin, and nails. Faces Canada also offers accessories such as brushes, fillers, and more. Founded in 2009, Faces Canada has raised $1 million till date from Alteria Capital, Brand Capital, and others.
Mumbai-based internet first media startup, MissMalini, was acquired by MyGlamm for $10 million. MissMalini is an online platform offering lifestyle & entertainment content. MissMalini provides Bollywood news, gossip, fashion trends, and lifestyle entertainment news on a global scale. MissMalini's founder has also started a TV Show 'MissMalini's World', a reality entertainment show that covers movie premieres, celebrity interviews, fashion weeks. MissMalini also launched a limited edition DIY Charms bracelet under the name 'MissMalini Loves Pipa plus Bella'. Founded in 2008, MissMalini has raised $3 million till date from Orios Venture Partners, New Enterprise Associates, and others.
Gurgaon-based online travel startup, YoloBus, was acquired by EaseMyTrip. YoloBus is an online platform for travelers that provides intercity bus services. YoloBus platform enables Travelers to select their route, choose pickup or destination, enter travel date & make bookings via the app or website by making an online payment. Founded in 2019, YoloBus has raised $4 million till date from Rebright Partners, Nexus Venture Partners, and others.
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.