In this episode of India Tech - Weekly Deals Roundup: India Tech saw 20 companies including Scaler, Loadshare, and JAR raise over $171 million from investors such as Sequoia Capital, Tiger Global Management and Zomato, 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 Scaler, Loadshare, JAR and more. In exits, we will cover the acquisition of Knowlarity by Gupshup, and the IPO by AGS Transact Technologies, among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $171 million funding across 20 funding rounds during this week.
EdTech startup, Scaler, raised $55 million in a Series B funding round led by Aspada Investments with participation from Sequoia Capital and Tiger Global Management. Scaler is an online platform providing learning programs for students. Scaler provides college students and professionals with courses on programming, computer science fundamentals, product management, and software development with features like a live, gamified classroom, one-on-one mentoring, and a global community. Founded in 2015 by an ex-Facebook employee, Bangalore-based Scaler has raised $76 million till date.
In another funding round event, Loadshare, a Transportation and Logistics Tech startup, raised $40 million in a Series C funding round led by Tiger Global Management with participation from CDC Group, Matrix Partners India, 57 Stars, and others. Loadshare is a tech-enabled regional logistics network. Loadshare offers services like first and last-mile deliveries, e-commerce shipments, line haul, warehousing, fulfilment and contract logistics through its platform. Founded in 2017 by IIT Delhi alumni, Bangalore-based Load Share has raised $61 million till date.
Bangalore-based FinTech startup, JAR, raised $32 million in a Series A funding round led by Tiger Global Management with participation from Stonks, Force Ventures, Third Prime, and others. JAR is the provider of an app-based savings and gold investment platform. JAR allows users to buy and sell gold assets, as well as save money by taking spare change from online transactions and automatically investing in digital gold. JAR offers an app for Android platforms. Founded in 2021, JAR has raised $36 million till date.
Adonmo, an Enterprise Applications startup, raised $15 million in a Series A funding round led by Zomato. Adonmo offers in-transit cab advertising solutions. Adonmo enables advertisers to place their ads on top of the cab and select the target location and relevant time slots to display advertisements, as well as track their ads in real-time. Adonmo uses proprietary computer vision and hyper-local technology to identify its viewers for targeted advertising. Founded in 2016 by IIT Indore alumni, Hyderabad-based Adonmo has raised $18 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 2 exits during the week of 06 Feb 2022.
Gurgaon-based Knowlarity, a Cloud Communications startup, was acquired by Gupshup. Knowlarity is a provider of cloud-based telephony solutions for enterprise communication. Knowlarity offers solutions like voice-based software for workflow monitoring, customer communication, messaging, video-based meetings and multi-channel communication. Founded in 2009, Knowlarity has raised $49 million till date from Emergic, Delta Partners, Sequoia Capital, and others.
In another major development this week, AGS Transact Technologies, a Mumbai-based FinTech startup, went public. The IPO pegs the valuation of the company at nearly $90 million. AGS Transact Technologies is a provider of diversified payment processing solutions for merchants and businesses. AGS Transact Technologies offers integrated omnichannel payment methods like digital and cash-based solutions, customised products and services such as outsourcing of ATM and Cash Recycler Machines, cash management, transaction processing services, and mobile wallets. AGS Transact Technologies was founded in 2002 and has raised over $81 million across several funding rounds. Major investors who backed the company in its early stages include enterprises like Kotak Mahindra Bank, Actis, TPG, 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 reach out to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.