In this episode of India Tech - Weekly Deals Roundup: India Tech saw 38 companies including Swiggy Ola Electric and ShopKirana raise over $1 billion from investors such as Qatar Investment Authority, Edelweiss and Oman India Joint Investment 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 Swiggy, Ola Electric, ShopKirana, and more. In exits, we will cover the acquisition of Care24 by Human Life Management, among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $1 billion funding across 38 funding rounds during this week.
In a major funding round event, Food Tech startup, Swiggy, raised $700 million in a Series J funding round led by Invesco with participation from Qatar Investment Authority, ARK Impact Asset Management, Prosus, and others. With this funding round, Swiggy achieved decacorn status and a valuation of $11 billion. Swiggy is an online platform for food ordering and delivery. Swiggy enables users to discover multiple types of restaurants from nearby locations, so they can order food online and have them delivered home, with features like real-time tracking of delivery status and online payments. Swiggy offers an app for both Android and iOS platforms. Swiggy also facilitates the on-demand ordering of fresh fruits and vegetables, daily essentials, and household items from supermarkets in the city through the grocery section on the platform. Founded in 2014, Bangalore-based Swiggy has raised $3 billion till date.
Bangalore-based Auto Tech startup, Ola Electric, raised $200 million in a Series C funding round led by Edelweiss with participation from Alpine Investors and Tekne Capital Management. Ola Electric achieved unicorn status in July 2019 when it raised $250 million of funding from Softbank. Ola Electric uses AI-enabled robots to manufacture the electric two-wheelers, whose features include a large boot space, rapid acceleration, access to a nationwide hypercharger network, availability in multiple colours and a smart operating system. Ola Electric also claims to provide vehicle leasing solutions to users. Founded in 2017, Ola Electric has raised $864 million till date.
ShopKirana, a B2B E-Commerce startup, raised $38 million in a Series C funding round led by Oman India Joint Investment Fund and Sixth Sense Ventures with participation from Info Edge, Incubate Fund India, 9Unicorns, and others. ShopKirana is a mobile-based B2B marketplace for groceries. ShopKirana connects grocery retailers and brands by aggregating orders from multiple retailers and passing them on to brands. ShopKirana allows retailers to place orders directly from its Android app, and also offers POS data, trends, forecasts, and market analysis for distributors and brands. Founded in 2015 by BITS Pilani alumni, Indore-based ShopKirana has raised $51 million till date.
Bangalore-based Vyapar, a FinTech startup, raised $30 million in a Series B funding round led by WestBridge with participation from IndiaMART, India Quotient and FortyTwo.VC. Vyapar is a provider of cloud-based invoicing solutions for small businesses. Vyapar offers solutions for inventory and accounting management, business accounts, party ledger, and stock management. Vyapar allows users to upload photos of the receipt and attach them with invoices, as well as purchase, cash-in, cash-out, send payment reminders to parties, generate bank statements and get custom reports. Founded in 2015 by London School of Economics and Political Science alumni, Vyapar has raised $35 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 30 Jan 2022.
Health Tech startup, Care24, was acquired by Human Life Management. Care24 is a provider of at-home healthcare services for patients. Care24 provides services like physiotherapy, nursing care, elderly companion care, doctor visits, post-operative care and medical services for patients at home through nurses and caregivers. Founded in 2014, Mumbai-based Care24 has raised $7 million till date from Dream Incubator, India Quotient, Human Life Management, and others.
In another acquisition event, My Class Campus, an EdTech startup, was acquired by Teachmint. My Class Campus is a provider of a communication platform for students, teachers, and parents. My Class Campus enables activities like the sharing of digital materials, discussion boards, live tests, notice boards, and calendars. My Class Campus includes modules for the management of finances, fees, human resources, timetables, inventories, libraries, inquiries and hostels. My Class Campus offers an app for both Android and iOS platforms. Founded in 2014, Ahmedabad-based My Class Campus has raised $0.2 million till date.
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.