In this episode of India Tech - Weekly Deals Roundup: India Tech saw 35 companies including CoinSwitch, Rebel Foods etc raised over $796 million from investors such as Andreessen Horowitz, Ribbit Capital, Qatar Investment Authority, and Goldman Sachs 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 CoinSwitch, Rebel Foods, Licious, and more. In exits, we will cover the acquisition of The Moms Co by MyGlamm among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $796 million of funding across 35 funding rounds during this week.
In a major funding round Bangalore-based Crypto startup, CoinSwitch raised $260 million in a Series C funding round and joined the Unicorn club at the valuation of $1.9 billion. The funding round was led by Andreessen Horowitz, Ribbit Capital, Tiger Global Management, and Paradigm with participation from Sequoia Capital. CoinSwitch is an app-based trading platform for cryptocurrencies. CoinSwitch allows users to buy, sell and trade multiple cryptocurrencies like Bitcoin, Ethereum, Ripple, and others. CoinSwitch offers services such as cryptocurrency exchange, accounts for funds deposits & withdrawals, and more. Founded in 2017, CoinSwitch has raised $302 million from Coinbase Ventures, Kunal Shah, and others till date.
In another major funding round, Mumbai-based Foodtech startup Rebel Foods raised $175 million in a Series F funding round and joined the Unicorn club at the valuation of $1.4 billion. The funding round was led by Qatar Investment Authority with participation from Goldman Sachs, Sequoia Capital, Coatue, and others. Rebel Foods is an internet-first restaurant offering food and drinks via online ordering platforms. Rebel Foods owns and operates chains of branded cloud restaurants like Fasoos, Behrouz Biryani, Ovenstory Pizza, and others across 10 countries including India, Indonesia, UAE, and others. Founded in 2012 by INSEAD alumni, Rebel Foods has raised $467 million from Alteria Capital, Sistema Asia Capital, Go Venture, and others till date.
The third company to enter the Unicorn club this week, Bangalore-based Foodtech startup Licious raised $52 million in a Series G funding round from Avendus at the valuation of $1.04 billion. Licious is an online D2C brand of fresh meat offering chicken, fish, eggs, mutton, seafood, and more. Licious also offers a subscription model that allows pre-set delivery dates and products. Founded in 2015, Licious has raised $338 million from Sistema, Temasek, Vertex Ventures, and others till date.
Bangalore-based DevOps startup, Esper raised $60 million in a Series C funding round led by Insight Partners with participation from Madrona Venture Group and Scale Venture Partners. Esper provides an application lifecycle management solution for Android devices fleets. Esper offers device orchestration API covering the developing, deploying, managing, and debugging stages. Founded in 2019, Esper has raised $101.7 million till date.
Mumbai-based mobile gaming company, Nazara raised $42.3 million in a post IPO funding round from Plutus Wealth Management and GIC. Nazara is a mobile game publisher under categories like gamified learning, skill-based real-money gaming, e-sports, and others. Nazara publishes games on Android and iOS platforms. Founded in 2000, Nazara has multiple subsidiaries including Sportskeeda, Nodwin Gaming, and more.
Mumbai-based public transport startup, Chalo raised $40 million in a Series C funding round led by Aspada Investments and Filter Capital with participation from WaterBridge Ventures, Neeraj Arora, and Amit Singhal. Chalo is an app-based bus transport technology company. Chalo allows users to track real-time information of their buses. Also, users can get transit tickets and bus passes on its contactless payment solution Chalo card. Founded in 2014, Chalo has raised $54.2 million till date.
Delhi-based Fintech startup, Progcap raised $30 million in a Series C funding round led by Tiger Global Management and Creation Investments with participation from Sequoia Capital. Progcap is a digital lending startup providing working capital loans to small and medium enterprises and retailers. Progcap risk scoring model evaluates borrowers' creditworthiness based on business activities data and supply chain ecosystem parameters and offers collateral-free financing solutions. Founded in 2016, Progcap has raised $61.1 million from Stride Ventures, Whiteboard Capital, Axis Capital, and others till date.
Gurgaon-based Edtech startup, Sunstone Eduversity raised $28 million in a Series B funding round led by WestBridge with participation from Saama Capital, Alteria Capital, and Work10M. Sunstone Eduversity offers higher education programs in the management stream in partnership with colleges and private universities. Sunstone Eduversity provides placement to students across sectors including BFSI, supply chain management, operations, sales management, and others. Founded in 2011, Sunstone Eduversity has raised $33.1 million from Prime Venture Partners, LetsVenture, Purvi Capital, and others till date.
Bangalore-based AI Infrastructure startup, AkriData raised $15 million in a Series A funding round led by TeleSoft Partners and MFV Partners. AkriData provides an edge data platform for data-centric AI. AkriData provides a solution that integrates, modernizes, and automates processing, storage, and transmission of data from edge to cloud with features like automated workflows for data management, secure data collection, access management, version tracking of data and AI models, and others. Founded in 2018, AkriData has raised $20 million from Accel, Menlo Ventures, Partech Partners, and others till date.
Bangalore-based enterprise infrastructure startup, Appsmith raised $8 million in a Series A funding round led by Canaan Partners with participation from Bessemer Venture Partners, Accel, OSS Capital and others. Appsmith provides cloud-based open-source low-code software to enterprises to build internal tools with features like reports generation, collaboration, bug reporting, user interface creation, identity management, API integrations, and others. Founded in 2019 by BITS Pilani alumni, Appsmith has raised $10.5 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 10th October 2021.
Delhi-based online D2C Mom and baby care brand The Moms Co was acquired by online D2C beauty brand MyGlamm for $67 million. The Moms Co’s offerings include personal care products across face care, hair care, baby care, and pregnancy care categories. Founded in 2012 by IIM Ahmedabad alumni, The Moms Co has raised $15.3 million from Saama Capital, DSG Consumer Partners, Innoven Capital till date.
Gurgaon-based electric vehicles startup 22Motors was acquired by self-drive rental startup Bounce. 22Motors is a developer of smart electric scooters. 22Motors has developed an electric scooter prototype 'Flow', suited for Indian road conditions with features like geo-fencing, battery usage analytics, driver behavior monitoring, daily route alerts, remote diagnostics, fleet management, and others. Founded in 2016 by IIT Delhi alumni, 22Motors has raised $66.6 million till date from KYMCO, Farhaan Shabbir, and Ishwar Singh till date.
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 marketing@tracxn.com. Thank you for tuning in today, see you next week.