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Zomato-backed logistics agency Shiprocket turned the most recent start-up to enter the unicorn membership this week after the corporate earned a valuation of greater than a billion in its newest funding spherical. The New Delhi-based firm raised $33.5 million in a recent spherical of funding co-led by Temasek and Lightrock India. Returning buyers within the spherical embrace Bertelsmann India Investments, March Capital, Moore Strategic Ventures, PayPal Ventures, and Huddle. In December final 12 months, the e-commerce delivery platform secured $185 million in a spherical co-led by Zomato Ltd, Temasek and Lightrock India.
In different main funding rounds, Gurugram-based larger training platform Sunstone Eduversity bagged $35 million led by mid-market non-public fairness agency WestBridge Capital. Alteria Capital additionally participated within the spherical. The corporate stated it is going to make the most of the capital to launch new applications with a concentrate on undergraduate expertise applications. In October 2021, WestBridge Capital led a $28 million financing spherical into the start-up.
Micro-savings app Jar secured $22.6 million in a Tiger International-led Collection B funding spherical at over $300 million valuation. Returning buyers embrace Arkam Ventures, Eximius Ventures, Power Ventures, LetsVenture, Rocketship Enterprise Capital and WEH Ventures. The spherical additionally noticed the participation of a clutch of latest buyers together with 1Finance, Capier Investments, Cloud Capital, Folius Ventures, Panthera Capital, Prophetic Ventures, Sure VC, Adam Nash (Founding father of WealthFront and Board Member of Acorns) and Zachary Hargreaves (an investor in Founders Fund in addition to Chief Expertise Officer and Co-Founding father of Vires Aeronautics). Jar stated it is going to make the most of the present spherical of funding to develop its workforce and proceed to construct a complete, one-stop financial savings monetary platform.
E-commerce resolution supplier Graas raised $40 million in its first-ever enterprise capital funding spherical. The spherical was led by Galaxy (Kejora-led SPV), Performa (multi-billion European Asset Supervisor-led SPV), Integra Companions, Yuj Ventures (Xander Group) and AJ Capital. Together with the fundraising, the corporate additionally made two acquisitions — D2C and knowledge specialist Shoptimize and market specialist SELLinALL.
Within the largest M&A deal of the week, fintech unicorn Razorpay acquired offline funds agency Ezetap in a deal price $150 million. The acquisition, the sixth and the biggest up to now for Razorpay, permits the corporate to foray into offline funds, thus constructing a powerful on-line and offline presence in funds.
Edtech unicorn PhysicsWallah snapped up Jaipur-based doubt-solving and useful resource administration start-up FreeCo for an undisclosed quantity. The deal, the primary after the corporate turned unicorn in June, will assist PhysicsWallah enhance its content material library and construct a powerful doubt school administration. FreeCo’s choices embrace video and textbook options, doubt fixing, on-line tutoring, payroll administration, animated movies, and freelance administration.
The week additionally noticed enterprise capital agency Fundamentum Partnership and enterprise debt firm Stride Ventures elevating new funds.
Fundamentum Partnership, an early growth-capital fund floated by Infosys co-founder Nandan Nilekani and Helion Ventures co-founder Sanjeev Aggarwal, Fundamentum Partnership, raised $227 million for its second fund. The corporate stated it is going to double down on the variety of investments from six within the first fund to 12 within the second fund. Launched in 2017 with a fund measurement of $100 million, fund one is absolutely drowned now with six investments, of which two — on-line pharmacy PharmEasy and used automobile market Spinny — have change into unicorns. Logistics SaaS start-up Fareye; hospital community Ayu Well being, on-line buying and selling platform Probo, and on-line journey portal Journey Triangle are its different investee corporations. The second fund will focus extra on SaaS, healthcare, digital content material and Bharat Apps, that are categorized as functions for the subsequent 400 million customers in India.
Enterprise debt agency Stride Ventures closed its second fund at $200 million. The agency was initially focusing on to boost Rs 1000 crore for the second fund. The primary shut of Rs 500 crore was introduced in August 2021. Traders within the second fund — Stride Ventures India Fund II — embrace banks, household workplaces, company treasuries, sovereign funds, non-public fairness funds, insurance coverage corporations, and HNIs. Launched in 2019, Stride Ventures, a sector agnostic fund, sanctioned greater than Rs 1600 crore in over 70 firms throughout sectors comparable to client, fintech, agritech, business-to-business (B2B) commerce, healthtech, B2B SaaS, mobility & vitality options (EV).
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