In this episode of India Tech - Weekly Deals Roundup: India Tech saw 19 companies including Zepto, Digit Insurance and ToothSi raise over $336 million from investors such as Nexus Venture Partners, Sequoia Capital , Paramark Real Estate Services, 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 Zepto, Digit Insurance, ToothSi, and more. In exits, we will cover the acquisition of iVIS by Magellanic Cloud among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $336 million of funding across 19 funding rounds during this week.
In a major funding round event, Chennai-based Online Grocery startup, Zepto, raised $200 million in a Series D funding round led by YC Continuity with participation from Nexus Venture Partners, Kaiser Foundation Health Plan, Glade Brook Capital, and others. Zepto is an app-based booking platform for on-demand grocery deliveries. Zepto allows users to order food, groceries, drinks, beauty and wellness products, as well as household essentials. Zepto offers an app for Android & iOS platforms. Founded in 2021 by Stanford University alumni, Zepto has raised $361 million till date.
InsurTech startup, Digit Insurance, raised over $54 million in a Series D funding round led by Sequoia Capital and India Infoline. Digit Insurance achieved unicorn status when it raised over $18 million dollars on 15th January 2021. Digit Insurance is an app-based insurance platform for individuals. Digit Insurance provides quotes for auto, health, travel and flight delay insurances, with features like a consultant tool to choose the best insurance coverage for a business, and a home loan EMI calculator. Digit Insurance also offers claims processing services, and solutions for agents to offer insurance services to their customers. Founded in 2016, Bangalore-based Digit Insurance has raised $544 million till date.
Mumbai-based ToothSi, a HealthTech startup, raised $40 million in a Series C funding round led by Paramark Real Estate Services and India Infoline, with participation from Eight Roads Ventures, Aditya Puri and Karan Singh. ToothSi is a provider of an online platform for the purchase of customised dental braces. ToothSi allows users to order impression kits, so that their orthodontists can provide them with free scans and corrections using the impressions. ToothSi delivers the virtual results and aligner bracer kit to users. Founded in 2018, ToothSi has raised around $78 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 08 May 2022.
Hyderabad-based Security and Surveillance Technology startup, iVIS, was acquired by Magellanic Cloud. iVIS is a provider of electronic security and surveillance software for enterprises. iVIS offers a video surveillance and management solution with features like live video, messaging, viewing of monthly activity summaries, access to archived video clips, as well as mobile access to live feeds with options to select camera views. Founded in 2012, iVIS has raised close to $5 million till date from Provident Capital, Syam Vamulapalli, Jayaram B Naidu, and others.
In another acquisition event, Home Improvements startup, Renomania, was acquired by Flipspaces. Renomania is a discovery platform for home improvement products and services. Renomania enables users to browse through pictures of home designs categorised under various themes, find and connect with interior designers in their city, as well as discover products for home improvement and renovation. Delhi-based Renomania was founded in 2014 by IIT Kharagpur alumni.
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.