In this episode of India Tech - Weekly Deals Roundup: India Tech saw 33 companies including OfBusiness, Cars24 etc raised over $831 million from investors such as Alpha Wave Incubation, Tiger Global Management SoftBank Vision Fund 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 Cars24, OfBusiness, Zepto, and more. In exits, we will cover the acquisition of TheHouseMonk by Aurum House and the IPO by MapmyIndia among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $831 million funding across 33 funding rounds during this week.
Gurgaon-based FinTech startup, OfBusiness, raised $325 million in a Series G funding round led by Alpha Wave Incubation, Tiger Global Management, and SoftBank Vision Fund with participation from Marshall Wace, Creation Investments, Norwest Venture Partners, and more. OfBusiness is an online marketplace for procuring building materials and financing to SMEs. OfBusiness products include working capital financing, capital expenditure financing, and raw material purchase financing for steel, TMT, cement, polymers, and more. OfBusiness enables Business users to apply for loan and submit KYC and financial documents online. OfBusiness company reviews the documents and offers an unsecured credit limit. Founded in 2015, OfBusiness has raised $892 million till date.
Auto Tech startup, Cars24, raised $300 million in a Series G funding round led by Alpha Wave Incubation. Cars24 is an app-based C2B marketplace for second-hand cars. Cars24 enables Car owners or sellers to evaluate their vehicle, enter vehicle details to get estimated selling prices & schedule a physical inspection at a nearby available branch via their platform or app. Cars24's app puts the vehicle on a real-time auction allowing its partnered traders to bid on the vehicle. Founded in 2015, Gurgaon-based Cars24 became a unicorn in November 2020 and has raised $1 billion till date.
Mumbai-based online Grocery startup, Zepto, raised $100 million in a Series C funding round led by Y Combinator with participation from Breyer Capital, Contrary Capital, Nexus Venture Partners, and others. Zepto offers an on-demand delivery service app. Zepto's app allows users to order food, groceries, drinks, beauty & wellness products, home & household essentials, and more. Zepto's app is available on the Android & iOS platforms. Founded in 2021 by Stanford University alumni, Zepto has raised $161 million till date.
B2B E-Commerce and Online Grocery startup, Jumbotail, raised $85 million in a Series C funding round led by The Invus Group, Ajax Partners, and Artal Asia with participation from Nexus Venture Partners, and Kalaari Capital. Jumbotail is an online B2B marketplace and retail platform for food & grocery. Jumbotail is a platform for wholesale buyers or retailers to procure their groceries, fruits, & vegetables from producers or manufacturers. Jumbotail offers its own tech-driven supply chain and logistics to provide warehousing and fulfillment solutions to the sellers and storefront delivery to the customers. Jumbotail also provides payment solutions to customers and sellers via their fintech platform. Founded in 2015, Bangalore-based Jumbotail has raised $142 million till date.
Hyderabad-based online Grocery startup, Captain Fresh, raised $40 million in a Series B funding round led by Tiger Global Management, and Prosus with participation from Accel, Ankur Capital, Matrix Partners India, and others. Captain Fresh is an online B2B platform offering seafood products. Captain Fresh offers a platform for the wholesale trade of seafood with integrated shipping, payment protection, and quality assurance services. Captain Fresh uses deep tech technology for offering the fastest harvest-to-retail solution. Founded in 2019, Captain Fresh has raised $58 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 26 Dec 2021.
Bangalore-based rental property management tech startup, TheHouseMonk, was acquired by Aurum House for $5 million. TheHouseMonk is a provider of cloud-based property management platforms. TheHouseMonk offers solutions for real-estate developers, property managers, homeowners associations & landlords to manage their real-estate assets. TheHouseMonk's platform offers features such as accounts & finance management, facility maintenance, operations, security & gate management, communications, and more. TheHouseMonk was Founded in 2013.
Delhi-based beauty tech startup, Sirona, was acquired by Good Glamm for $15 million. Sirona is an Internet-first brand offering feminine products. Sirona's product catalog includes period care products, disposable toilet covers, wipes, reusable razors, intimate hygiene products, and more. Founded in 2015, Sirona has raised $16 million till date from Indian Angel Network Fund, South Yarra Holdings, Krishna Jha, and others.
Delhi-based Ed-tech startup, Prepleaf, was acquired by Masai School for $1 million. Prepleaf is a mentor-driven end-to-end placement preparation platform. Prepleaf offers guides and assists students in getting a job. Prepleaf has enabled students to prepare for jobs in Analytics, Finance, Consulting, and Data Science roles. Prepleaf offers courses on data analytics, aptitude, finance, trading, and many more. Prepleaf was founded in 2017.
Delhi-based Enterprise Application startup, MapmyIndia went public. MapmyIndia's IPO pegs the valuation of the company at nearly $255 million. MapmyIndia is a provider of, GPS-based navigation products, mobile applications, digital map data, navigation, tracking, LBS products, GPS products, and GIS-based systems integration services. MapmyIndia also offers marketing tools for retailers and shipping solutions for e-tailers. MapmyIndia was founded in 1995 and has raised over $44 million across several funding rounds. MapmyIndia's major investors who backed the company in its early stages include enterprises like Shatrunjay Credit Services, Lightbox, Kleiner Perkins, 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.