In this episode of India Tech - Weekly Deals Roundup: India Tech saw 23 companies including CoinSwitch, Rebel Foods etc raised over $471 million from investors such as Leap Frog, WestBridge, Tiger Global Management, and Symphony Asia 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 CarDekho, Fraazo, M2P Fintech, and more. In exits, we will cover the acquisition of BRIDGEi2i by Accenture among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $471 million of funding across 23 funding rounds during this week.
In a major funding round event, Jaipur-based Auto Tech startup, CarDekho raised $200 million in a Series E funding round and joined the Unicorn club at the valuation of $1.2 billion. The funding round was led by LeapFrog and Mirae Asset with participation from Sequoia Capital, Hillhouse Capital, Sunley House Capital Management, and others. CarDekho is an online listing platform for used cars. CarDekho platform allows users to list their pre-owned cars to sell and allows buyers to search for cars based on their location, price, brand & more. CarDekho provides its visitors with car reviews & e-commerce services to help them reach out to the automobile dealers. CarDekho also offers automobile finance for those who want to buy a car on a loan. Founded in 2007 by IIT Delhi alumni, CarDekho has raised $570.4 million till date.
Mumbai-based Agritech startup, Fraazo raised $50 million in a Series C funding round led by WestBridge with participation from Sixth Sense Ventures, Equanimity Investments, and Apar. Fraazo is an online retailer of fresh fruits and vegetables. Fraazo sources products directly from various farms across Maharashtra and offers products such as bananas, pineapples, oranges, and more. Fraazo offers mobile applications for Android and iOS platforms. Founded in 2016, Fraazo has raised $61 million till date.
Chennai-based Fintech startup, M2P Fintech raised $35 million in a Series C funding round led by Tiger Global Management with participation from Beenext, Flourish Ventures, Better Capital, and others. M2P Fintech offers open banking APIs for banking and payment solutions. M2P Fintech offers neo-banks products, a lending system with lending and credit cards servicing multiple lenders, local and cross-border payment systems with real-time controls, and more. Founded in 2015 by ex-Paypal employees, M2P Fintech has raised $50.9 million till date.
Bangalore-based Agritech startup, Reshamandi raised $30 million in a Series A funding round led by Creation Investments with participation from Venture Catalysts, 9Unicorns, Omnivore Partners, and others. Reshamandi is a provider of digital supply chain management solutions for sericulture farmers and silk reelers. Reshamandi offers AI-tested quality inputs, IoT-led advisories, and near-proximity output linkages for sericulture farmers. Reshamandi also offers scientifically graded cocoon procurement and AI-led yarn grading to the silk reelers. Reshamandi mobile application is available on Android platforms. Founded in 2020 by IIT Delhi alumni, Reshamandi has raised $31.7 million till date.
Bangalore-based Fashiontech startup, Melorra raised $24 million in a Series D funding round led by 9Unicorns, Symphony Asia, ValueQuest, and others with participation from LetsVenture, Hemant Gupta, Punit Bhatia, and others. Melorra is an internet-first brand of gold and diamond-based precious jewelry. Melorra's catalog includes bracelets, earrings, rings, pendants, and more. Founded in 2015, Melorra has raised $81.9 million till date.
Bangalore-based HRtech startup, FloCareer raised $5.7 million in a Series A funding round led by Data Point Capital with participation from Uncorrelated Ventures and Orios Venture Partners. FloCareer offers an online recruitment platform. FloCareer enables job seekers to give online assessment tests, get a personalized learning map, get mentoring from experts and apply for jobs. FloCareer also enables employers to search for pre-assessed and pre-interviewed candidates and connect with them. Founded in 2015 by ex-Cisco employees, FloCareer has raised $6 million till date.
Bangalore-based Blockchain startup, Arcana raised $2.3 million in a Seed funding round led by Woodstock, Republic, LD Capital, and others with participation from AU21 Capital, Paradigm Shift Capital, Kenetic, and others. Arcana offers storage and privacy stack solutions for Ethereum apps. Arcana features end-to-end encryption, key management, access control, and more. Arcana is an EMV compatible chain for requesting access and verifying file actions. Founded in 2019, Arcana has raised $2.7 million till date.
Gurgaon-based Fintech startup, NFTically raised $1 million in a Seed funding round from Sujeet Kumar, Gaurav Munjal, Kunal Kapoor, and others. NFTically is an online marketplace for diversified NFTs. NFTically enables users to buy or sell NFT, digital arts, tokens and set up NFT stores, shops, websites, and storefronts. NFTically supports NFTs such as digital art, collectibles, utility, trading cards, and more. Founded in 2021, NFTically has raised $1 million till date.
Gurgaon-based online professional network startup, Leap Club raised $0.8 million in a Seed funding round led by Enzia Ventures and Kunal Shah with participation from Whiteboard Capital, Artha India Ventures, First Cheque, and others. Leap Club is a SaaS-based social platform for women professionals. Leap Club allows users to connect and meet women from various professions. Leap Club is available for Android and iOS users. Founded in 2019, Leap Club has raised $1.1 million till date.
Delhi-based Foodtech startup, F5 Refreshment raised $0.7 million in a Seed funding round led by Auxano with participation from Lets Venture, Venture Catalysts, and Huddle Ventures. F5 Refreshment is the provider of on-demand refreshment supplies offering tea, coffee, sandwich, and other snacks. F5 Refreshment provides opportunities for its partner vendors to upsell and cross-sell their products ranging from refreshments to services. F5 Refreshment users can subscribe to the products and also order online. Founded in 2018, F5 Refreshment has raised $1.8 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 17th October 2021.
Bangalore-based analytics startup BRIDGEi2i was acquired by Accenture. BRIDGEi2i offers big data analytics services for enterprises. BRIDGEi2i offers four applications namely emPower, SURVEYi2i, Forecasting engine, and M2. BRIDGEi2i also offers analytics services for various business functions like sales, marketing, risk management, finance, human resources, pricing, customer services, and procurement. Founded in 2011, BRIDGEi2i has raised $3.4 million till date from Edelweiss, Siddharth Banerjee, Gail A Galuppo, and others.
Mumbai-based online social networking startup GolBol was acquired by VerSe. GolBol provides a social networking application for sharing photos. GolBol allows users to share and add their photos in various frames such as shayari frames, celebrity frames, festival frames, and more. GolBol is available on the Android & iOS platforms. Founded in 2018, GolBol has raised $0.3 million till date from Orios Venture Partners and Chakradhar Gade.
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.