In this episode of India Tech - Weekly Deals Roundup: India Tech saw 44 companies including Acko, Groww, etc raise over $1.1 billion from investors such as General Atlantic, Tiger Global Management, ICONIQ Growth, 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 Acko, Groww, DeHaat, and more. In exits, we will cover the acquisition of Shuttl by Chalo among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $1.1 billion of funding across 44 funding rounds during this week.
In a major funding round Mumbai-based Insurtech startup, Acko raised $255 million in a Series D funding round and joined the Unicorn club at the valuation of $1.1 billion. The funding round was led by General Atlantic and Multiples Equity with participation from Intact Ventures, Munich Rupee, CPP Investments, and others. Acko offers an app-based insurance platform for individuals. Acko offers quotes for car insurance, bike insurance, health insurance, group medical insurance, and more. Acko features cashless claims processing with doorstep pickup & delivery services. Acko app is available for iOS and Android devices. Founded in 2016, Acko has raised $484 million till date.
In a major funding round event, Bangalore-based Fintech startup, Groww raised $251 million in a Series E funding round led by ICONIQ Growth with participation from Ribbit Capital, Sequoia Capital, Lone Pine Capital, and others. Groww is an app-based platform focused on capital market assets. Groww allows users to invest in FDs, stocks, future & options, gold, mutual funds and develop savings portfolios. Groww offers tools to withdraw funds and access details of investment through app-based platforms. Groww application can be accessed on iOS and Android devices. Founded in 2017, Groww has raised $393.8 million till date.
In another major funding round event, Patna-based Crop Tech startup, DeHaat raised $115 million in a Series D funding round led by Lightrock and Sofina with participation from FMO, RTP Ventures, Sequoia Capital, and others. DeHaat is a provider of end-to-end farming services to farming communities. DeHaat's services include crop consultation, crop reminder, local voice calls, and more. DeHaat also offers services to micro-entrepreneurs such as market linkages, technical advisory, AI-based analysis, and forecasting. DeHaat has developed mobile applications named Dehaat business and Dehaat Kisan available for Android users. Founded in 2019 by IIT Delhi and IIT Kharagpur alumni, DeHaat has raised $162 million till date.
Bangalore-based Logistics Tech startup, Porter raised $99.9 million in a Series E funding round led by Tiger Global Management and Vitruvian Partners with participation from Lightrock and Sequoia Capital. Porter is an app-based platform providing trucking services. Porter users can select the pick-up and drop-off locations, truck type and confirm their booking and also track the delivery status of their goods. Porter's fleet of contractual vehicles also manages bulk bookings from enterprises. Founded in 2014 by IIT Kanpur and IIT Kharagpur alumni, Porter has raised $141.3 million till date.
Another Bangalore-based Edtech startup, Teachmint raised $78 million in a Series B funding round led by Rocketship and Vulcan with participation from Goodwater Capital, Learn Capital, Better Capital, and others. Teachmint is a provider of a tutor management software platform. Teachmint offers features such as virtual classrooms with assignment and notes sharing, administration management, student information management, progress tracking, and more. Teachmint works on subscription-based pricing models and provides its application for the Android and iOS platforms. Founded in 2020 by IIT Delhi and Harvard University alumni, Teachmint has raised $118.4 million till date.
Hyderabad-based Healthtech startup, BlueSemi raised $69 million in a Series A funding round led by Global Emerging Markets. BlueSemi is a provider of deep tech IoT solutions focused towards preventive and connected healthtech. BlueSemi’s flagship consumer healthtech product is a non-invasive device that analyses 6 key vitals like Blood Glucose, ECG, BP, HR, SPO2, and body temperature. BlueSemi also offers a product called SENS, a wireless temperature scanner for fever screening. Founded in 2017, BlueSemi has raised $69 million till date.
Mumbai-based eCommerce startup, Purplle raised $56.6 million in a Series D funding round led by Kedaara Capital Investment Managers with participation from Blume Ventures and Sequoia Capital. Purplle offers an online platform offering multi-category beauty products. Purplle's offerings include makeup, skincare, fragrances, beauty appliances, and more. Founded in 2011 by IIT Delhi and IIT Kharagpur alumni, Purplle has raised $157.5 million till date.
Another Mumbai-based Fintech startup, Drip Capital raised $40 million in a Series C funding round led by TI Platform Management with participation from Accel, Wing Venture Capital, Sequoia Capital, and others. Drip Capital is an online marketplace for trade financing. Drip Capital offers loans for working capital, invoice financing, export financing, shipment financing, and more. Drip Capital offers loans on the basis of credit assessments, product cost, invoice amount, loan terms, and more. Founded in 2014, Drip Capital has raised $85.1 million till date.
Bangalore-based Fintech startup, Zolve raised $40 million in a Series A funding round led by Alkeon Capital Management, Lightspeed Venture Partners, and Accel. Zolve offers a cross border neo bank for individuals. Zolve offers services such as deposit accounts, prepaid cards, money transfers, cross-border transactions, and more. Zolve offers tools for monitoring transactions, expense & budget management, and more. Founded in 2020 by IIM Ahmedabad alumni, Zolve has raised $55 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 31st Oct 2021.
Gurgaon-based Road Transport Tech startup, Shuttl was acquired by Chalo. Shuttl offers an app-based shuttle service. Shuttl enables users to find, book, and reserve their ride by providing the details like pickup & drop location and timeslot. Shuttl users can track their ride in real-time. Shuttl offers shuttle services for enterprise and rental services for domestic trips, weddings, and more. Shuttl app is available for both Android and iOS devices. Founded in 2015, Shuttl has raised $106.1 million till date from Amazon India, Whiteboard Capital, AdvantEdge, and others
Bangalore-based HRtech startup, Waahjobs was acquired by Betterplace. Waahjobs offers an online jobs portal for multiple industries. Waahjobs allows job seekers to create a profile and search for jobs by mentioning skills, education, and experience. Waahjobs allows employers to post jobs, communicate with candidates, schedule interviews, and hire. Waah-jobs platform offers jobs in various industries such as information technology, construction, hospitality, and more. Founded in 2014, Waahjobs has raised $6.6 million till date from Inventus Capital Partners, Aspada Investments, Chiratae Ventures, 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 to stay updated. If you have any feedback, please reach out to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.