In this episode of India Tech - Weekly Deals Roundup: India Tech saw 15 companies including Licious, BlueStone and ekincare raise over $234 million from investors such as Temasek, HealthQuad and Gulf Islamic Investments, 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 Licious, BlueStone, ekincare, and more. In exits, we will cover the acquisition of Xpedize by Clear, among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $234 million of funding across 15 funding rounds during this week.
In a major funding round event, Bangalore-based Online Grocery startup, Licious, raised $150 million in a Series F funding round led by Amansa Capital with participation from Temasek, Kotak Private Equity Group, Vertex Growth, and others. Licious achieved unicorn status on 5th October 2021 when it raised $52 million from Avendus, IIFL Asset Management and Transaction Square. Licious is an online platform offering meat and seafood products. Licious delivers hand-cut, vacuum-sealed and packed, fresh, marinated, or cold cut meat, chicken, fish, eggs, mutton and seafood, and more. Licious has a central processing plant and several storage units in multiple cities, and works on a zero inventory model. Licious also offers subscriptions that allow users to pre-set delivery dates of products. Licious offers an Android and iOS app. Founded in 2015, Licious has raised $488 million till date.
E-commerce startup, BlueStone, raised $30 million in a funding round led by Sunil Kant Munjal. BlueStone is an internet first brand offering jewellery and accessories. BlueStone’s product catalogue includes earrings, rings, pendants, bangles, bracelets, and more. BlueStone offers an app for Android and iOS platforms. Founded in 2011, Bangalore-based BlueStone has raised $104 million till date.
ekincare, a Hyderabad-based HealthTech startup, raised $15 million in a Series B funding round led by HealthQuad and Sabre Partners India with participation from Ventureast, Endiya Partners, Siana, and others. ekincare is an AI-based platform for the management of employee health benefits. ekincare helps patients manage their healthcare records, as well as provides health analytics and personalised healthcare plans using the data collected. ekincare also offers an online marketplace to book diagnostics tests and doctor appointments. ekincare includes features like timely reminders, expert doctor opinions and online lab results. Founded in 2014, ekincare has raised close to $21 million till date.
In another funding round, E-commerce startup, UpScalio, raised $15 million in a Series A funding round led by Gulf Islamic Investments with participation from Unity Bank and Northern Arc. UpScalio is a platform acquiring e-commerce businesses. UpScalio evaluates, analyses, and then acquires and operates small and medium-sized online businesses. UpScalio closes the deal with a fund transfer after analysis, whilst using big data and AI technology to grow businesses, forecast demand and optimise pricing, promotions and advertising. Founded in 2021, Gurgaon-based UpScalio has raised over $57 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 20 Mar 2022.
Gurgaon-based FinTech startup, Xpedize, was acquired by Clear. Xpedize is a provider of SaaS-based dynamic discounting software. Xpedize connects investors, suppliers, and buyers, and allows suppliers to offer dynamic cash discounts in order to receive early payments from buyers. Xpedize enhances compliance through the audit trail mechanism and improves supplier relationships. Founded in 2017, Xpedize has raised over $1 million till date from HDFC Capital Advisors Limited, Turbostart, Amit Goel, and others.
Xoxoday, an Enterprise Applications startup, was acquired by Giift. Xoxoday is a provider of employee engagement solutions. Xoxoday provides benefits such as employee rewards and gifts, employee referrals, incentives, engagement for gig workers, and more. Xoxoday includes features such as an API and webhooks, digital wallets, data insights, link-based rewarding and monetisation through subscription-based plans. Founded in 2012, Bangalore-based Xoxoday has raised $ 600 thousand till date from Shiksha Infotech, N+1 Capital, Mahindra, and others.
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.