In this episode of India Tech - Weekly Deals Roundup: India Tech saw 22 companies including Route Mobile, Purplle, etc raised over $250 million from investors such as Societe Generale, PineBridge 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 Route Mobile, Purplle, Velocity, and more. In exits, we will cover the acquisition of Immrse by Mindler and the IPO by Paytm among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $250 million of funding across 22 funding rounds during this week.
Enterprise communication tech startup, Route Mobile, raised $116.7 million in a Post IPO funding round led by HSBC Group, Societe Generale, and PineBridge Investments. Route Mobile is a cloud-based software for unified communication and Voice Over IP software providers. Route Mobile offers technology solutions and services to mobile network operators, enterprises, over-the-top content, SMS aggregators, and resellers. Route Mobile offers Communication Platform as a Service solutions. Route Mobile's portfolio consists of solutions in messaging, voice, email, SMS filtering, analytics, and monetization. Founded in 2004, Mumbai-based Route Mobile has raised around $140 million till date.
Mumbai-based E-Commerce startup, Purplle, raised $60 million in a Series E funding round led by Premji Invest. Purplle is an online platform offering multi-category beauty products. Purplle's offerings include skincare, fragrances, body care, hair care, beauty appliances, and more. Founded in 2011 by IIT Delhi and IIT Kharagpur alumni, Purplle has raised around $225 million till date.
Bangalore-based Fintech startup, Velocity, raised $20 million in a Series A funding round led by Valar Ventures with participation from Presight Capital, iSeed, Maninder Gulati, and others. Velocity provides revenue-based financing for online businesses and growth capital for sales & marketing expenditures. Velocity also provides financing in return for an agreed percentage of revenue. Velocity offers financing to businesses such as online gaming, SaaS providers, mobile apps providers, and more. Founded in 2011 by IIT Bombay alumni, Velocity has raised around $30 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 21st Nov 2021.
Mumbai-based HR Tech startup, Immrse, was acquired by Mindler. Immrse is a career guidance solution provider. Immrse offers a Virtual Internship Programme that allows experiencing a variety of jobs through an expert report stating which profession suits the candidate. Immrse software offers features such as online access, content engagement, professional guidance, industry experts, practical experience, and more. Immrse was founded in the year 2017.
Mumbai-based fashion tech startup, Frangipani, was acquired by G.O.A.T Brand Labs. Frangipani is an Internet first brand offering casual wear for kids. Frangipani's product catalog includes ethnic wear, loungewear, dresses, trousers, tops, skirts, and more. Frangipani also offers blankets, quilts, vanity cases, and more. Frangipani was founded in 2012.
Bangalore-based Enterprise Application startup, MayaData, was acquired by DataCore. MayaData is a container automation and monitoring platform provider. MayaData offers a platform that combines open-source container attached storage, OpenEBS, with two complementary software solutions, Litmus and MayaOnline. MayaData's product, MayaOnline, provides visibility and controls for the operation of OpenEBS based workloads and provides a graphical view for addressing common challenges in the management workloads. MayaData's other product, Litmus, is an open-source project for chaos engineering. Founded in 2011, MayaData has raised $30 million to date from Kae Capital, DataCore, Nexus Venture Partners, and more.
Noida-based Fintech startup Paytm went public. Paytm's IPO pegs the valuation of the company at nearly $15 billion. Paytm offers an app-based wallet for consumer payments. Paytm provides a web-based and mobile-based platform for mobile recharge, money transfer, bill payments, travel bookings, gold purchase, donations, and more. Paytm also offers Paytm Mall for online shopping of mobile, clothes, groceries, accessories, electronics, and more. Paytm was founded in 2010 and has raised over $4.6 billion across several funding rounds. Paytm's major investors who backed the company in its early stages include Elevation Capital, Silicon Valley Bank, Peeyush Kumar Aggarwal, Mark Schwartz, 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 reachout to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.