In this episode of India Tech - Weekly Deals Roundup: India Tech saw 13 companies including Zetwerk, Jupiter etc raised over $411 million from investors such as Greenoaks, Iconiq Capital Steadview Capital 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 Zetwerk, Jupiter, and more. In exits, we will cover the acquisition of NOW by Borzo among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $411 million of funding across 13 funding rounds during this week.
Bangalore-based eCommerce startup, Zetwerk, raised $210 million in a Series F funding round led by Greenoaks, with participation from Iconiq Capital, Steadview Capital, IIFL Finance, and others. Zetwerk is an online B2B marketplace providing manufacturing services. Zetwerk provides services for sand casting, investment casting, fabrication, precision machining, forging sheet, metal fabrication, injection molding, surface heat treatment, metal injection, molding extrusion, and more. Zetwerk also offers onsite services. Founded in 2018, Zetwerk has raised $553 million till date.
FinTech startup, Jupiter, raised $87 million in a Series C funding round led by Tiger Global Management, QED Investors, and Sequoia Capital, with participation from Nubank, Mirae Asset, Beenext, and others. Jupiter is a digital bank for individuals. Jupiter provides services such as money transfers, cash withdrawal, savings account, NFC-enabled prepaid cards, and more. Jupiter offers a dashboard for monitoring transactions and viewing balances. Founded in 2019, Mumbai-based Jupiter has raised $163 million till date.
Pune-based FinTech startup, OneCard, raised $76 million in a Series C funding round led by QED Investors, with participation from Sequoia Capital, Matrix Partners India, and others. OneCard provides a credit card for consumers. OneCard offers a mobile app that allows users to control all aspects of credit cards including credit limit, instant rewards redemption, domestic or international use, online or offline transactions, contactless payments, and more. OneCard also provides a loyalty program to consumers by offering them reward points and allowing them to redeem on their next purchase. Founded in 2019 by IIM Bangalore alumni and IIT Delhi alumni, OneCard has raised $125 million till date.
Beauty tech startup, Mamaearth, raised $37 million in a Series F funding round led by Sequoia Capital, with participation from Evolvence, and Sofina. Mamaearth is an Internet-first brand offering organic beauty care products. Mamaearth's product catalog includes body lotions, hair shampoo, rash cream, body spray, body wash, massage oil, sunscreen lotion, men's grooming products, and more. Mamaearth claims the products offered by the company are natural & eco-friendly. Founded in 2016, Gurgaon-based Mamaearth has raised $111 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 02 Jan 2022.
Noida-based logistics tech startup, NOW, was acquired by Borzo. NOW is an on-demand delivery service provider for businesses. NOW had initially started out as Tap Tap Meals, an online food ordering and delivery platform, which pivoted to an on-demand bike taxi and currently provides local delivery for merchants. NOW's features include one-tap booking, transparent pricing, real-time tracking, quality assurance, and more. Founded in 2015, NOW has raised $1 million till date from Maple Capital Advisors, Vinay Goyal, and others.
Noida-based Ed-tech startup, Airlearn, was acquired by Teachmint. Airlearn is an AI-based platform providing live teaching and learning solutions. Airlearn provides live interactive classes, study material, user management, topic discussion solution, personalized assessment, and many more. Airlearn's platform enables teachers and students to make their live sessions interactive, engaging and achieve the learning outcome better than offline sessions. Airlearn was founded in 2020.
Mumbai-based energy tech startup, Visicon Power, was acquired by Ruttonsha International Rectifier. Visicon Power is a provider of power management ICs. Visicon Power designs and develops silicon carbide-based wide-bandgap power semiconductor systems. Visicon Power's product portfolio includes SiC diodes, MOSFETs, and power modules. Visicon Power's products can be used in electric vehicles, power transmission systems, renewable energy sectors, and data centers. Visicon Power was founded in 2020.
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.