In this episode of India Tech - Weekly Deals Roundup: India Tech saw 21 companies including Razorpay, GoKwik and Vivriti Capital raise around $172 million from investors such as TVS Capital Funds, Moore Strategic Ventures, Think Investments, 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 Razorpay, GoKwik, Vivriti Capital, and more. In exits, we will cover the acquisition of Sqrrl by CASHe and the IPO by Delhivery.
Starting with our deep dive into funding rounds, tech companies in India raised around $172 million of funding across 21 funding rounds during this week.
Bangalore-based Razorpay, a FinTech startup, raised $75 million in a Series F funding round led by Moore Strategic Ventures and Lightspeed Venture Partners. Razorpay achieved unicorn status on 12th October 2020 when it raised $100 million from GIC, Sequoia Capital and others. Razorpay is a provider of payment processing solutions for businesses. Razorpay offers payment gateways and link-based payment solutions, acceleration and automation solutions for banking operations, and working capital loans and corporate credit cards. Razorpay includes features like UPI-based recurring payments, buttons to accept payments on websites, and AI-enabled fraud management. Founded in 2014 by IIT Roorkee alumni, Bangalore-based Razorpay has raised $817 million till date.
E-commerce startup, GoKwik, raised $35 million in a Series B funding round led by Think Investments and RTP Ventures with participation from Sequoia and Matrix Partners India. GoKwik is a provider of e-commerce enablers. GoKwik enables users to shop from various e-commerce websites and provides AI-based shopping solutions from ordering to delivery. Founded in 2020, Delhi-based GoKwik has raised over $55 million till date.
In another funding round event, Vivriti Capital, a FinTech startup, raised $30 million in a Series C funding round led by TVS Capital Funds. Vivriti Capital is a debt financing platform for corporates, SMEs and individuals. Vivriti Capital offers a range of financial products including loans, receivables finance, working capital, structured debt, and capital market instruments. Vivriti Capital also includes webinars, blogs, and insights to assist with lending decisions. Founded in 2017 by IIT Kharagpur alumni and IIM Bangalore alumni, Chennai-based Vivriti Capital has raised $195 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 15 May 2022.
Delhi-based FinTech startup, Sqrrl, was acquired by CASHe. Sqrrl is an app-based personal finance and financial planning platform for individuals. Sqrrl allows users to save for goals, invest in a mutual fund or income tax saving plans, and receive personal loans. Founded in 2016 by IIT Kharagpur alumni, Sqrrl has raised over $1 million till date.
In a major development this week, Transportation and Logistics Tech startup, Delhivery, went public. Delhivery achieved unicorn status on 6th March 2019 when it raised $413 million from Softbank Vision Fund and others. Delhivery is a provider of end-to-end fulfillment services for e-commerce companies. Delhivery offers last-mile deliveries, third-party and transit warehousing, reverse logistics, payment collection, vendor-to-warehouse and vendor-to-customer shipping, cross-border services, supply chain and tracking services for shipments. Founded in 2011 by IIT Bombay alumni and IIT Kanpur alumni, Gurgaon-based Delhivery has raised $1.7 billion across several funding rounds. Major investors who backed the company in its early stages include enterprises like Tiger Global Management, SoftBank Vision Fund, Fidelity Investments, 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.