In this episode of India Tech - Weekly Deals Roundup: India Tech saw 30 companies including ShipRocket, Zoomcar etc raised over $648 million from investors such as PayPal, March Capital Tribe Capital 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 ShipRocket, Zoomcar, GoBOLT, and more. In exits, we will cover the acquisition of PatchUS by CleverTap.
Starting with our deep dive into funding rounds, tech companies in India raised around $648 million of funding across 30 funding rounds during this week.
In a major funding round event, Transportation and Logistics Tech startup, ShipRocket, raised $185 million in a Series E funding round led by PayPal with participation from March Capital, Tribe Capital, Info Edge Ventures, and others. Shiprocket is a provider of AI & web-based automated shipping management tools for e-commerce. Shiprocket's platform uses a machine-learning-based data engine that recommends courier service for businesses and chooses a courier company, prints shipping labels, and tracks orders from a single panel. Shiprocket's additional features include order management, shipping rate calculator, order tracking, and more. Shiprocket can also be integrated with e-stores like OpenCart and Amazon. Founded in 2012, Delhi-based ShipRocket has raised $287.4 million till date.
Bangalore-based Auto Tech startup, Zoomcar, raised $92 million in a Series E funding round led by SternAegis Ventures. Zoomcar is an app-based self-driving car rental platform. Zoomcar users can book available cars on the platform by uploading their driving license and can access the car keys. Zoomcar users can make short or long trips and at the end of the ride, users have to leave the vehicle at the designated location or parking space. Zoomcar offers features such as insured rides, road assistance, fuel charges, and more. Founded in 2012 by Harvard University and University of Pennsylvania alumni, Zoomcar has raised $254.3 million till date.
Logistics Tech startup, GoBOLT, raised $75 million in a Series C funding round led by Yaletown with participation from Bank of Montreal, IKEA, Intact Ventures, and others. GoBOLT is an online marketplace connecting shippers with freight transporters. GoBOLT has developed a fleet management solution for trucks and offers features such as real-time fleet tracking and alerts that enable clients to gain insights into fleet operations. GoBOLT also offers intra-city shipping services and end-to-end shipping solutions. Founded in 2015, Gurgaon-based GoBOLT has raised $103.4 million till date.
Gurgaon-based E-Commerce startup, Magicpin, raised $60 million in a Series D funding round led by Zomato with participation from Lightspeed Venture Partners. Magicpin offers an online platform offering cashback and coupons. Magicpin offers discounts across categories like restaurants, movies, beauty, hotels, health, education, and more. Magicpin enables customers to discover the local stores and earn rewards for visiting the store. Magicpin has partner stores such as Dominos, Oyo, Spencers, and more. Founded in 2015 by IIM Bangalore and BITS Pilani alumni, Magicpin has raised $102.2 million till date.
Bangalore-based Fitness and Wellness Tech startup, Cult.fit, raised $50 million in a Series D funding round led by Zomato. With this funding round, Cult.fit became the 36th Indian startup to join the coveted Unicorn Club in 2021. Cult.fit is a provider of digital and offline fitness solutions. Cult.fit's offerings include fitness, nutrition, mental well-being, yoga, and meditation. Cult.fit also offers medical and lifestyle care services. Founded in 2016, Cult.fit has raised $526 million till date.
Fintech startup, Vayana Network, raised $38.1 million in a Series C funding round led by Marshall Wace with participation from Chiratae Ventures, CDC Group, March Capital, and others. Vayana Network is a provider of a trade financing platform. Vayana Network offers an online lending platform designed to provide working capital finance for small and medium enterprises. Vayana Network's platform connects corporates and their supply chain to financial institutions for quick and low-cost access to trade financing. Vayana Network's financing partners include Axis Bank, DBS Bank, Tata Capital among others. Vayana Network also provides access to GST network and GST filing services. Founded in 2009 by IIM Ahmedabad alumni, Pune-based Vayana Network has raised $45.4 million till date.
Bangalore-based Home Improvement startup, WakeFit, raised $26.9 million in a Series C funding round led by SIG with participation from Sequoia Capital and Verlinvest. WakeFit is an internet first brand offering mattresses. WakeFit offering includes orthopedic memory foam mattresses, mattress protectors, bed sheets, cushions, and more. WakeFit also offers furniture such as racks, bookshelves, shoe racks, tables, and more. Founded in 2014 by IIT Roorkee alumni, WakeFit has raised $61.1 million till date.
Another Bangalore-based Transportation and Logistics Tech startup, RoaDo, raised $25 million in a Series B funding round from Capital A. RoaDo is a fleet management solutions provider. RoaDo offers a mobile and web-based platform that enables users to automate and manage transport operations. RoaDo offers features such as real-time location tracking, fleet maintenance management, fuel monitoring & management, document management, driver management, and more. RoaDo platform also enables users to collaborate with other transport & logistics stakeholders on the platform to enhance their business opportunities. Founded in 2017, RoaDo has raised $25 million till date.
Healthtech startup, Mosaic Wellness, raised $24 million in a Series A funding round led by Sequoia Capital with participation from Matrix Partners India and Elevation Capital. Mosaic Wellness is an online telepharmacy platform for the purchase of mens' products. Mosaic Wellness platform offers multi-category beauty care products and consultation services. Mosaic Wellness provides cruelty-free and natural products unders the brand names of Man Matters and Bodywise. Founded in 2019 by IIM Ahmedabad alumni, Mumbai-based Mosaic Wellness has raised $41.2 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 4 exits during the week of 14th Nov 2021.
Noida-based Enterprise Application startup, PatchUS, was acquired by CleverTap. PatchUS is a cloud-based Voice over Internet Protocol software provider. PatchUS offers features such as automated meeting scheduling, portable conference system, conference calling, in-call messaging, and share attachments. PatchUS app is available for Android and iOS devices. Founded in 2017, PatchUS has raised $0.2 million till date from JioGenNext, Blume Ventures, Vikas Taneja, and others.
Mumbai-based Enterprise Application startup, Cogno AI, was acquired by Exotel. Cogno AI is a cloud-based lead nurturing conversational bot solutions provider. Cogno AI offers a 360º Product Suite with features such as live chat, chat bot, browser, and help desk. Cogno AI also offers integrations with existing systems for providing better customer experiences.
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 reachout to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.