In this episode of India Tech - Weekly Deals Roundup: India Tech saw 18 companies including Niyo, Eka Care, Fitterfly, and others raised over $83 million from investors such as Multiples Equity, Hummingbird Ventures, Fireside Ventures, 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 Niyo, Eka Care, Fitterfly, and more. In exits, we will cover the acquisition of IPLTech Electric by TI Clean Mobility, among others.
Starting with our deep dive into funding rounds, tech companies in India raised over $83 million of funding across 18 funding rounds during this week.
In a major funding round, Bangalore-based, FinTech startup, Niyo, raised $30 million of funding led by Multiples Alternate Asset Management. Niyo is an internet first digital bank. Niyo offers a payroll card and a zero balance account with facilities like account opening, advance salary, and free accidental insurance. It provides zero foreign currency exchange premium and deposits in the users account viacentralized payment system operated by the Reserve bank of India. Founded in 2015 by IIM Calcutta alumni, Niyo, has raised $179 million till date.
HealthTech startup, Eka Care, raised $15 million in a Series A funding round led by Hummingbird Ventures with participation from Mirae Asset, Verlinvest, Aditya Birla Ventures, and others. Eka care provides a telehealth solution for patients and doctors to schedule appointments. It allows patients to get a complete assessment of symptoms and helps patients in managing their health records. Eka care offers a digital prescription tool that provides ML-driven dosage suggestions for doctors and creates FHIR compliant electronic health records. Founded in 2021, Bangalore-based, Eka Care, has raised over $19 million till date.
Mumbai-based, HealthTech startup, Fitterfly, raised $12 million in a Series A funding round led by Fireside Ventures with participation from 9Unicorns, Venture Catalysts, Sriram Natarajan, and others. Fitterfly offers a digital therapeutic application for the management of diseases like diabetes, PCOS, clinical obesity, child nutrition, general wellness, pregnancy and lactation. It also allows users to measure and monitor blood sugar levels, exercise, sleep, stress and provides suggestions with customized meal recommendations based on the data. Founded in 2016, Fitterfly, has raised close to $18 million till date.
JAR, a Bangalore-based, FinTech startup, raised over $2 million in a Series A funding round. JAR provides an application-based savings and gold investment platform. It allows users to buy and sell gold assets online. It also allows users to save money by taking spare change from online transactions and facilitates automatic investments. The application is available for Android platforms on the Google Play Store. Founded in 2021, JAR, has raised over $39 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 24 Jul 2022.
Auto Tech startup, IPLTech Electric, was acquired by TI Clean Mobility. IPLTech Electric is a manufacturer of electric trucks with features such as extended battery range, geofencing, live vehicle tracking, regenerative braking, and more. Faridabad-based, IPLTech Electric, was founded in 2018.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts, Spotify, and Apple Podcast 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.