In this episode of India Tech - Weekly Deals Roundup: India Tech saw 26 companies including CRED, PW and Kissht raise around $476 million from investors such as Alpha Wave Global, WestBridge Capital, Endiya Partners, 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 CRED, PW, Kissht, and more. In exits, we will cover the acquisition of Lybrate by Pristyn Care.
Starting with our deep dive into funding rounds, tech companies in India raised around $476 million of funding across 26 funding rounds during this week.
In a major funding round event, FinTech startup, CRED, raised $140 million in a Series F funding round led by GIC with participation from Alpha Wave Global, DF International Group, Tiger Global Management, and others. CRED is a provider of an app-based and reward-enabled payment platform for credit card bills. It allows credit card users to pay their bills and earn cred coins, which can be redeemed for prizes from partner companies. It helps users manage various credit cards, keep a track of credit ratings in real-time, and utilise calculators for home loans, EMIs, PPFs, and other financial products. The app is compatible with both iOS and Android devices. Founded in 2018, Bangalore-based CRED has raised around $1 billion till date.
Noida-based PW, an EdTech startup, raised $100 million in a Series A funding round from WestBridge Capital and GSV Ventures. PW is a provider of an app-based tutoring platform for students. It offers tutoring on subjects like physics, math, chemistry, botany and economics. Additionally, PW provides study resources for exams like notes, recorded videos, and reference books. Its app is available for Android devices. Founded in 2016, PW has raised $100 million till date.
FinTech startup, Kissht, raised $80 million in a Series E funding round led by Vertex Growth with participation from Endiya Partners and The Solvent Extractors' Association of India. Kissht is an online marketplace for consumer loans. It offers loans such as personal loans, point-of-sale financing, credit lines, and more. It allows users to register through the KYC process by uploading their Aadhar card. Founded in 2015, Mumbai-based Kissht has raised $131 million till date.
In another funding round event, E-commerce startup, Cashify, raised $50 million in a Series E funding round led by Prosus with participation from Paramark, American Electric Power, Bessemer Venture Partners, and others. Cashify is an online platform offering pre-used gadgets and accessories. It enables users to sell phones, tablets, gaming consoles, cameras, TVs, audio devices, and laptops. Founded in 2013, Gurgaon-based Cashify has raised $90 million till date.
Mumbai-based Purplle, a Beauty Tech startup, raised $33 million in a Series E funding round led by Paramark with participation from Premji Invest, Blume Ventures and Kedaara Capital. Purplle is an online marketplace for multi-category beauty products. Its offerings include makeup, fragrances, grooming kits, and products for facial, skin, body, hair and eye care, as well as beauty appliances. Founded in 2011, Purplle has raised $309 million till date.
FinTech startup, FlexiLoans, raised $27 million in a Series B funding round from Maj Invest and Fasanar. FlexiLoans is an online marketplace for business loans. It offers multiple types of business loans including vendor financing, term loans, business credit lines, and purchase order financing. To apply for a loan, businesses must add the required details and obtain approval which is based on proprietary credit assessment. Once approved, the funds are transferred to the registered bank account. Founded in 2015, Mumbai-based FlexiLoans has raised over $62 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 12 Jun 2022.
In another acquisition event, Media & Entertainment startup, Mitron, was acquired by Koo App. Mitron is a social platform for sharing short videos. It allows users to create short, humorous videos using various filters, and share them with other users on the platform. Founded in 2000, Bangalore-based Mitron has raised around $9 million till date.
Delhi-based HealthTech startup, Lybrate, was acquired by Pristyn Care for over $15 million. Lybrate is a multi-speciality telemedicine platform. It enables patients to consult with doctors over chat, phone or video call. Users can search for doctors based on their specialisation, ratings, and reviews. It also offers appointment booking for physical visits to the doctor, and an online marketplace for diagnostic tests. Lybrate includes a practice management solution for doctors. Founded in 2013, Lybrate has raised over $14 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, 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.