In this episode of India Tech - Weekly Deals Roundup: India Tech saw 21 companies including Glance, Pine Labs etc raised over $506 million from investors such as Jio, Google Mithril 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 Glance, Pine Labs, DealShare, and more. In exits, we will cover the acquisition of GetMyUni by CollegeDekho among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $506 million of funding across 21 funding rounds during this week.
In a major funding round event, Consumer Tech startup, Glance, raised $200 million in a Series D funding round led by Jio, Google, and Mithril. Glance achieved unicorn status on 22nd December 2020 when it raised $145 million from Google and Mithril. Glance is a provider of a mobile lock screen content management and advertising solution. Glance allows users to manage news on movies, travel, sports, food, and games in vernacular languages on their phone lock screens. Glance is available across Android platforms. Founded in 2017, Bangalore-based Glance has raised $390 million till date.
Noida-based FinTech startup, Pine Labs, raised $150 million in a Series E funding round led by Alpha Wave Global. Pine Labs achieved unicorn status on 24th January 2020 when it raised $85 million funding from Master Card and others. Pine Labs offers POS terminals for businesses and merchants. Pine Labs products include hardware and software-based payment terminals, point-of-sale financing, working capital loans, and more. Pine Labs also offers loyalty and gift card solutions, analytics for business decisions, and more. Pine Labs offers the solution for businesses like hospitals, grocery stores, electronics, and more. Founded in 1998 by IIM Bangalore alumni and IIT Delhi alumni, Pine Labs has raised more than $1.5 billion till date.
Jaipur-based DealShare, an E-commerce startup, raised $45 million in a Series E funding round from Abu Dhabi Investment Authority. With this funding round, DealShare achieved unicorn status. DealShare is a social deal-sharing platform for multi-category products. DealShare caters to products like fruits and vegetables, grocery items, fashion accessories, home decoration products, and more. DealShare allows users to buy and share deals with friends, and avail of discounts based on the number of people purchasing its products. Founded in 2018 by IIM Bangalore alumni and Indian School of Business alumni, DealShare has raised $393 million till date.
FinTech startup, Propelld, raised $35 million in a Series B funding round led by WestBridge with participation from India Quotient, and Stellaris Venture Partners. Propelld is an online lending marketplace for education financing. Propelld offers a pay-when-you-earn option for students to opt for a standard EMI financing option and pay some percentage of the course fee every month during the moratorium period which covers the course duration and additional buffer months to allow the student enough time to find a job. Propelld's platform uses a proprietary employability outcome algorithm to include earning potential when determining the ability of a borrower to repay. Founded in 2016 by IIT Madras alumni, Bangalore-based Propelld has raised $38 million till date.
Health InsurTech startup, Kenko, raised $12 million in a Series A funding round led by Sequoia Capital with participation from Orios Venture Partners, 9Unicorns, Beenext, and others. Kenko is a provider of a cloud-based health insurance platform for OPD expenses. Kenko offers healthcare insurance solutions such as medical expenses coverage, dental protection, home care, diagnostic tests coverage, and vision care. Kenko also offers insurance-related blogs for users. Founded in 2019 by Indian School of Business alumni, Mumbai-based Kenko has raised $13 million till date.
In another funding round, Mumbai-based E-commerce startup, Join Ventures, raised its first Series A funding of $10 million from 9Unicorns, DSG Consumer Partners, and Venture Catalysts. Join Ventures is a platform for acquiring e-commerce brands. Join Ventures acquires and operates small and medium-sized brands, and its proprietary technology helps the business grow and also provides consumer insights powered by AI and analytics. Founded in 2020 by Indian School of Business alumni, Join Ventures has raised $ 10 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 6 exits during the week of 20 Feb 2022.
Bangalore-based GetMyUni, an EdTech startup, was acquired by CollegeDekho. GetMyUni is a student community platform for networking and university reviews. GetMyUni serves as a social networking platform for students to interact and discuss various education-related queries, as well as provide and receive advice for future education plans. GetMyUni also offers analytics-driven recruitment, marketing, and communication platforms for schools, and a competition platform for corporates to recruit students for internships or fresher jobs. GetMyUni was founded in 2013.
In another acquisition event, Logistics Tech startup, Glaucus Supply Chain Solutions, was acquired by ShipRocket. Glaucus Supply Chain Solutions is a provider of cloud-based end-to-end supply chain solutions for e-tailers. Glaucus Supply Chain Solutions enables the management of supply chains, orders, inventories and warehouses, and offers fulfillment services like operations management, domestic and international transportation. Founded in 2015, Delhi-based Glaucus Supply Chain Solutions has raised $2 million till date from Vivek Gupta, Jayant Yadav, Arya Sen, 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.