In this episode of India Tech - Weekly Deals Roundup: India Tech saw 31 companies including Ampere Vehicles, Cuemath, and SUGAR Cosmetics raise around $559 million from investors such as Abdul Latif Jameel,Manta Ray, Winter Capital, and 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 Ampere Vehicles, Cuemath, SUGAR Cosmetics, and more. In exits, we will cover the acquisition of OneDirect by Gupshup, among others.
Starting with our deep dive into funding rounds, tech companies in India raised close to $559 million of funding across 31 funding rounds during this week.
In a major funding event, Coimbatore-based Auto Tech startup, Ampere Vehicles, raised $220 million from Abdul Latif Jameel. Ampere Vehicles is a manufacturer of electric scooters. Its features include front suspensions, long-range, multiple colour options and Lithium-ion batteries. Founded in 2008, Ampere Vehicles has raised close to $229 million till date.
EdTech startup, Cuemath, raised $57 million in a funding round led by Alpha Wave Global with participation from Manta Ray, Aspada Investments, Sequoia Capital, and others. Cuemath is a provider of live online classes for school students. It offers interactive, 1-on-1 classes and math tutoring solutions, with features like workbooks, puzzle cards, tab-based math activities, and personalised learning. Founded in 2013 by IIT Delhi alumni, Bangalore-based Cuemath has raised $126 million till date.
Mumbai-based SUGAR Cosmetics, an E-commerce startup, raised $50 million in a Series D funding round led by L Catterton with participation from A91 Partners, India Quotient, and Elevation. SUGAR Cosmetics is an internet-first brand of multi-category cosmetics. It offers products such as lipsticks, nail polishes, eyeliners, definers, highlighters, and more. It also provides gift boxes that include an assortment of various beauty products packed together. Founded in 2012, Mumbai-based SUGAR Cosmetics has raised close to $81 million till date.
In another funding round event, Food Tech startup, Curefoods, raised $50 million in a Series C funding round led by Winter Capital with participation from Chiratae Ventures and Iron Pillar. Curefoods is an internet-first restaurant. Its menu includes pizzas, biryanis, parathas, and more from brands like EatFit, Aligarh House and Masalabox. Founded in 2016, Bangalore-based Curefoods has raised $118 million till date.
slice, a Bangalore-based FinTech startup, raised $50 million in a Series C funding round led by Tiger Global Management with participation from Moore Ventures, Insight Partners, and GMO Venture Partners. Slice is a provider of credit cards for consumers. It offers credit cards for bill payments, cash withdrawals, online and offline purchases. It enables users to avail of cash loans and make repayments in installments, as well as an app-based virtual credit card for online transactions. Founded in 2016, slice has raised $331 million till date.
Online Grocery startup, bigbasket, raised around $45 million from Supermarket Grocery Supplies. bigbasket is an online retailer of groceries and essentials. It allows users to purchase products like fruits, vegetables, staples, baked products, snacks, beverages, personal and baby care products. Founded in 2011, Bangalore-based bigbasket has raised close to $853 million till date.
In another funding round event, Orange Health, a HealthTech startup, raised $25 million in a Series B funding round led by Bertelsmann India Investments and General Catalyst Partners, with participation from Accel, Uncorrelated Ventures, Good Capital, and others. Orange Health is a provider of home-based diagnostic test services. Users can have their samples collected from their homes, as well as access reports through the platform. It offers health checkups for lifestyle-related disorders, infectious diseases, and more. Founded in 2020, Bangalore-based Orange Health has raised around $35 million till date.
Gurgaon-based Synaptic, a FinTech startup, raised $20 million in a Series B funding round led by Valor Equity Partners. Synaptic is a provider of a data analytics platform. It provides investors and financial institutes with AI-based alerts for tracking portfolio companies, competitors, and sectors, using analysis-based algorithms and hypotheses. Founded in 2016, Synaptic has raised $26 million till date.
Media & Entertainment startup, Eloelo, raised $13 million in a Series A funding round led by KB Investment and Kalaari Capital, with participation from Rocket Capital, Lumikai, Convivialite Ventures, and others. Eloelo is a provider of a social gaming platform. It allows users to play live games with their favourite creators and earn money, as well as vote for creators and other content. Founded in 2020, Bangalore-based Eloelo has raised over $31 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 05 Jun 2022.
Delhi-based Enterprise Applications startup, OneDirect, was acquired by Gupshup. OneDirect is a provider of cloud-based customer support and experience management software for enterprises. It enables them to track and process data from social media mentions, aggregate multi-channel feedback, define workflows, complete actionables, reach out to potential customers, and perform online reputation benchmarking. OneDirect was founded in 2013.
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.