🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Funding and acquisitions in Indian startups this week [15-20 Apr]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [15-20 Apr]
Medial

During the week, equivalent to 37 Indian startups raised nearly $310 million in funding. These deals include 10 growth-stage deals and 17 early-stage deals. Meanwhile, one growth-stage startup and nine early-stage startups did not disclose the amount raised. Last week, about 21 early and growth-stage startups collectively raised around $105 million capital. [Growth-stage deals] Among the growth-stage deals, 10 startups raised $225.86 million in funding this week. Cleantech startup GPS Renewables led the list with $50 million in debt funding. The list was followed by vernacular social media platform ShareChat, housing finance company Altum Credo, B2B procurement marketplace ProcMart, and aerospace components manufacturer JJG Aero which raised $48.86 million, $40 million, $30 million, and $12 million, respectively. Further, consumer lending app RING, ESG and accounting and reporting consultation provider Uniqus Consultech, education-focussed NBFC Varthana, QSR chain Wow! Momo, and provider of decentralized solar-hybrid mini-grids Husk Power Systems. Electric cycle maker EMotorad also secured undisclosed funding this week. [Early-stage deals] Subsequently, 17 early-stage startups scooped funding worth $83.76 million during the week. Climate-focused deeptech startup Ecozen spearheaded the list followed by training, certification, and recruitment services provider for grey collar Emversity (Beyond Odds), gaming startup LightFury Games, NBFC FincFriends, and shipping intelligence platform ClickPost. The list further includes quick-service burger chain Good Flippin’ Burgers, emergency healthcare provider Medulance, elder care startup VitusCare, RevOps startup Clientell, and SaaS-based customer experience startup ZEPIC among others. The list of early-stage startups also includes nine startups that kept the funding amount undisclosed: IWill, TraqCheck, Svish, Advance Mobility, IndoSup, Almonds Ai, 100KMPH, Payinstacard, and BlackCarrot. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Delhi-NCR-based startups led with 13 deals followed by Bengaluru, Mumbai, Pune, Kolkata, Patna, and Hyderabad. Segment-wise, fintech and e-commerce startups shared the top spot with six deals each. The list further counts healthtech, SaaS, foodtech, Gaming, and Automotive tech startups among others. [Series-wise deals] During the week, Seed funding deals led the list with 16 deals while Series A deals are at the second position with 7 deals, both collectively forming around 30% of the total funding. Further, Debt, Series B, and Pre-Seed are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding grew 195% to $109.6 million as compared to around $105 million raised during the previous week. The average funding in the last eight weeks stands at around $267 million with 27 deals per week. [Departure] During the week, Arjun Mohan, the chief executive officer of Byju’s, stepped down from his position seven months after joining the edtech firm. His departure is part of the company’s efforts to restructure and streamline its businesses. [Fund launches] Four startup-focused funds were launched this week. The list includes a non-dilutive, grant-based fund (WTFund) for young entrepreneurs by Zerodha co-founder Nikhil Kamath. Venture capital firms Caret Capital and Ev2 Ventures teamed up to launch a new $50 million fund focused on India. Angel investing platform BizDateUp Technologies introduced a $24 million Category I Alternative Investment Fund (AIF) for technology startups. Additionally, Inviga Healthcare Fund (IHF), a new healthcare-focused private equity fund, raised $20 million in its first close. [Layoffs] Content-to-commerce platform The Good Glamm Group has reduced its workforce by 15% or 150 employees in the last 12-15 months, according to the company. The reduction in the workforce appears to be part of efforts to cut costs and extend the runway amidst a tight funding environment. [Mergers & Acquisitions] This week witnessed four merger & acquisition deals. Agilitas Sports acquired the brand license for the Italian sports brand Lotto from WHP Global. VerSe Innovation, the parent company of Dailyhunt, acquired Magzter, a digital newsstand with a vast library of premium magazines and newspapers. Aurionpro Solutions Limited announced the strategic acquisition of banking and insurance-focused PaaS startup Arya.ai. Moreover, OneVerse Gaming, a Metaverse and gaming tech startup, acquired the online poker platform PokerSaint, marking its fourth acquisition in the gaming sector. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches] ▪️ Zomato unveils all-electric ‘Large Order Fleet’ ▪️ CASHe launches CASHe Green to forays into EV financing ▪️ Namma Yatri launches ride-hailing services in Bengaluru [Financial results this week] ▪️ LoadShare’s scale remains flat in FY23, losses shrink 19% ▪️ Heads Up For Tails posts flat scale in FY23; losses mount 5X ▪️ InMobi’s Glance records 77% growth in FY23; losses cross Rs 1,000 Cr ▪️ Otipy posts 50% GMV growth in FY24; losses down by 21% [News flash this week] ▪️ KreditBee plans ‘Ghar Wapsi’ from Singapore to India ▪️ Baron and Invesco mark up Pine Labs’ valuation ▪️ Jio-BlackRock JV to enter wealth management, stock broking biz ▪️ Swiggy merges Mall offering with Instamart ▪️ RBI’s draft KYC guidelines add burden and cost for payment aggregators ▪️ Bhavish Aggarwal plans $500 Mn IPO for Ola Cabs [Conclusion] After a significant drop in funding, the weekly funding again rose nearly 3X this week. The week saw three fund launches namely WTFund, Caret Capital, BizDateUp, and Inviga Healthcare Fund. The week also witnessed a layoff as The Good Glamm Group fired a part of its workforce. Fintech company KreditBee is relocating its domicile from Singapore to India, following a trend among new-age firms like Pine Labs, Groww, Razorpay, Meesho, and Zepto. US-based investment firms Baron Funds and Invesco have marked up the valuation of fintech unicorn Pine Labs, with Baron valuing it at $5.8 billion and Invesco at $4.8 billion as of December 2023. In another development, Swiggy is integrating Swiggy Mall with its quick commerce offering, Instamart, to expand its product range. Additionally, after postponing its IPO plans in 2021, Ola Cabs is preparing for a $500 million IPO at a valuation of around $5 billion, and reportedly planning to file draft papers with SEBI within three months.

Related News

Funding and acquisitions in Indian startups this week [08-13 Apr]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [08-13 Apr]
Medial

This week as many as 21 Indian startups raised nearly $105 million in funding. These deals include six growth-stage deals and 12 early-stage deals. Meanwhile one growth-stage startup and two early-stage startups did not disclose the amount raised. Last week, about 30 early and growth-stage startups collectively raised around $172.71 million. [Growth-stage deals] Among the growth-stage deals, the six startups raised $54.5 million in funding this week. Compliance automation platform Sprinto led the list with $20 million in funding. The list was followed by B2B waste management and recycling marketplace Recykal, Housing finance company AVIOM HFC, digital lender Axio, and medical diagnostics platform 5C Network which raised $13 million, $10 million, $6 million, and $3 million, respectively. Further, made-to-order furniture manufacturer Arrivae while D2C coffee brand Blue Tokai Coffee also and secured undisclosed funds this week. [Early-stage deals] Subsequently, 12 early-stage startups scooped funding worth $50 million during the week. AI cloud and platform-as-a-service startup Neysa spearheaded the list followed by AI-powered revenue enablement platform GTM Buddy, underwater visual inspection services provider Planys Technologies, underwater visual inspection services provider Planys Technologies, paediatric behavioural and developmental health firm Butterfly Learnings, and electric mobility platform AutoNxt Automation. The list further includes the full stack eyewear platform, EyeMyEye, health insurance assistance provider CalimBuddy, elder care startup Age Care Labs, healthcare startup PlatinumRx, and defence-focused deeptech startup Zulu Defence Systems among others. The list of early-stage startups also includes 2 startups that kept the funding amount undisclosed: Paytring and BlackCarrot. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 8 deals followed by Mumbai, Delhi-NCR, Chennai, Hyderabad, and Kanpur. Segment-wise, healthtech startups are on top with four deals. The list further counts e-commerce, fintech, SaaS, Deeptech, and EV startups among others. The complete breakdown of deals across cities and segments can be seen below: [Series-wise deals] During the week, Seed funding deals are on the top spot with six deals while Series B deals are on the second position both forming around 52% of the total funding. Further, Series A, Pre-Series A, and Debt are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding plummeted nearly 40% to $105 million as compared to around $170 million raised during the previous week. The average funding in the last eight weeks stands at around $243 million with 25 deals per week. The week-on-week funding trend can be seen below: [Departure] During the week, Surinder Chawla, the managing director and chief executive officer of Paytm Payments Bank, stepped down from his position, according to the disclosure filed by the associate entity One97 on the National Stock Exchange. [Fund launches] Three startup-focused funds were launched this week. Cornerstone Ventures, a venture capital firm, announced the launch of its second fund targeting $200 million with a green-shoe option of $50 million. Filter Capital, a technology-focused investment firm, closed its first fund at Rs 800 crore (approximately $96 million). Synapses also launched a $125 million VC fund at IIT Delhi’s Research and Innovation Park to back startups. [Layoffs] Tech upskilling startup Scaler has laid off approximately 150 employees, attributing the decision to a focus on long-term growth and sustainability. Co-founder Abhimanyu Saxena stated that the company is reevaluating its operations to achieve sustainable growth while ensuring the best learning experience for its users. [ESOP Buyback] Comfort-tech brand The Sleep Company announced the second tranche of ESOP (employee stock ownership plan) buyback for its employees this week. The current buyback will benefit a total of 105 employees, including 50% of women employees. [Mergers & Acquisitions] This week, Ghost Kitchens India acquired Shy Tiger Brands, a cloud kitchen company from Ahmedabad. Meanwhile, the National Investment and Infrastructure Fund (NIIF) acquired majority stakes in iBUS, a digital infrastructure solutions company, in a $200 million deal. Additionally, Symphony Technology Group (STG) acquired Eka Software Solutions, a Bengaluru-based commodities trade and risk management (CTRM) software company, with plans to merge it into STG’s portfolio company Quor Group. Postman also acquired SaaS platform Orbit during the period. [New launches] ▪️ Reliance-owned Tira forays into beauty accessories, launches ‘Tira Tools’ ▪️ Flipkart rolls out bus booking services on its app ▪️ Agritech startup DeHaat launches agrifood consumer brand ‘Honest Farms’ [Financial results this week] ▪️ Ripplr posts Rs 740 Cr gross revenue in FY23; controls losses ▪️ Power2SME gross revenue crosses 1,000 Cr in FY23; cuts losses ▪️ Portea’s revenue stays flat in FY23; losses grow 32% ▪️ MoneyView posts Rs 577 Cr revenue in FY23; profit spikes 27X [News flash this week] ▪️ Swiggy offers 20% discount to HNIs in pre-IPO deal ▪️ Invesco marks up Swiggy’s valuation to $12.7 Bn ▪️ IPO-bound Swiggy converts itself into a public entity ▪️ PhonePe’s merchant app MAUs on rise as Paytm falls behind ▪️ Ola, Uber unveil subscription-undefined models for auto drivers ▪️ Ola ceases operations in UK, Australian, and New Zealand markets [Conclusion] The rally of ups and downs continues as after a significant rise in funding, the weekly funding again shrank close to 40% this week. The week saw three fund launches namely Filter Capital, Cornerstone Ventures, and Synapses. The week saw another layoff as tech upskilling startup Scaler reportedly fired a part of their workforce. Swiggy is gearing up for its IPO after the upcoming Lok Sabha elections, having recently converted into a public entity. The company has shortlisted bankers for its IPO syndicate and is offering shares to high net-worth individuals at a 20% discount on its current valuation of over $12 billion. This move follows a recent markup in Swiggy’s valuation by US-based investor Invesco. PhonePe has surpassed Paytm in terms of monthly active users (MAUs) of its merchant app, according to data from App Annie recorded between mid-January to mid-March. Paytm experienced a 20% decrease in MAUs in the last quarter, while PhonePe saw a 20% increase. In March, Paytm had approximately 9 million MAUs, whereas PhonePe had around 11 million. In another development, Indian ride-hailing giant Ola has exited from the UK, Australia, and New Zealand, marking the end of its six-year stint in these markets. The decision reflects a strategic shift, with Ola focusing on its rapidly growing and profitable ride-hailing business in India. Meanwhile, Ola and Uber are shifting gears by offering subscription-based plans for auto-rickshaw drivers, a strategy reminiscent of their competitors Namma Yatri and Rapido. Instead of the traditional booking fee or commission per transaction, these plans aim to provide more stability and incentives for drivers.

Funding and acquisitions in Indian startups this week [01-06 Apr]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [01-06 Apr]
Medial

This week as many as 30 Indian startups raised $172.71 million in funding. These deals include eight growth-stage deals and 16 early-stage deals. As many as six early-stage startups did not disclose the amount raised. Last week, about 17 early and growth-stage startups collectively raised around $125.73 million. [Growth-stage deals] Among the growth-stage deals, eight startups raised $130.1 million in funding this week. Bhavish Agarwal-led Ola Electric led the list with $50 million in debt funding. The list was followed by hyperlocal marketing-to-commerce software platform SingleInterface, NBFC Infinity Fincorp, housing finance company Nivara Home Finance, payment gateway and point of sales (PoS) provider Innoviti, and digital banking infrastructure firm M2P Fintech which raised $30 million, $26 million, $10 million, $4.8 million, and $4.2 million funding, respectively. Further, D2C personal care brand Bombay Shaving Company and D2C luggage brand Assembly also secured funds this week. [Early-stage deals] Subsequently, 16 early-stage startups scooped funding worth $42.61 million during the week. D2C health and wellness brand Traya spearheaded the list followed by full-stack retailer of used two-wheelers BeepKart, AI platform SiftHub, deep-tech startup Planys, and full-stack metal supply-chain platform Metalbook. The list further includes the provider of in-school adventure programs Rocksport, construction and home improvement platform Wify, generation artifical intelligence (AI) startup Vodex, and Agritech startup ONO. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 11 deals followed by Mumbai, Delhi-NCR, Chennai, and Hyderabad. The complete breakdown of deals across cities and segments can be seen below: [Series-wise deals] During the week, Series A funding deals are on the top spot with eight deals while Seed deals are on the second position both forming around 55% of the total funding. Further, Pre-Series A, Debt, and Pre-seed are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding surged 37.4% to $172.71 million as compared to $125.73 million raised during the previous week. The average funding in the last eight weeks stands at around $252 million with 26 deals per week. The week-on-week funding trend can be seen below: [Departure] This week Indian startups witnessed around seven key exits. Notably, Sumit Mathur, CMO of Paytm, Kunal Kashyap, Risk Management Head of CRED, and Karan Arora, VP and Head of Supply Chain Management of Swiggy Instamart resigned from their respective positions. [Fund launches] Three startup-focused funds were launched this week. Centre Court Capital introduced a Rs 350 crore maiden fund for sports and gaming startups. Finance influencer Sagar Sinha initiated a Rs 10 crore fund for startups and budding entrepreneurs. Navy Veteran Navneet Kaushik established an early-stage fund to support defense tech startups. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [Layoffs] Troubled edtech giant BYJU’S has fired 500 employees amid funding challenges and a legal battle with investors. The layoffs, part of an ongoing restructuring, were executed without a performance improvement plan (PIP) or notice period. Pune-based fintech SaaS startup Lentra also reportedly conducted a restructuring exercise, resulting in layoffs across departments, affecting approximately 70-80 employees. [ESOP Buyback] Audio series platform Pocket FM completed its first ESOP buyback worth $8.3 million, following a $103 million Series D funding round. Meanwhile, men-focused premium innerwear and lifestyle brand XYXX announced its first Employee Stock Ownership Plan (ESOP) buyback. [Mergers & Acquisitions] Zeno Health acquired online pharmacy startup Tablt Pharmacy in an all-stock deal. This acquisition allows the firm to expand its presence in West Bengal, Odisha, Bihar, and Jharkhand, where Kolkata-based Tablt operates, focusing on Tier 2 to Tier 6 geographies. In another development, listed business services provider and private sector employer Quess Corp Limited has acquired Bengaluru-based gig economy platform Taskmo for an undisclosed amount. [New launches] ▪️ Founders of CoinSwitch launch wealth-tech platform Lemonn ▪️ Zomato pilots new service for last-mile deliveries across corporate parks [Financial results this week] ▪️ Four-year-old Wiz Freight posts Rs 1,243 Cr revenue in FY23 ▪️ LS Digital nears Rs 700 Cr revenue in FY23; profits jump 3X ▪️ Winzo ends FY23 with Rs 674 Cr revenue and Rs 126 Cr PAT ▪️ Probo turns profitable as it posts 32X growth in FY23 ▪️ Bijnis records 100% growth in FY23; losses touch Rs 100 Cr ▪️ Bambrew’s revenue spikes 4.7X to Rs 44 Cr in FY23 [News flash this week] ▪️ Purplle is looking to mop up $100 Mn funding from ADIA ▪️ Rapido to raise $100 Mn from WestBridge and other existing investors ▪️ Sachin Bansal-led Navi in talks to raise funds at $2 Bn valuation ▪️ Zepto to raise fresh funds at $3 Bn valuation ▪️ RBI to incorporate an agency to curb illegal lending apps ▪️ Zomato receives an order to pay a service tax of Rs 92 Cr [Conclusion] After a significant drop in funding, the weekly funding again increased by over 30% this week. The week saw three fund launches namely Centre Court Capital, Sagar Sinha’s fund, and The Jamwant Venture Fund. The week also witnessed two layoffs as troubled BYJU’s and Lentra reportedly fired a part of their workforce. As per media reports, growth-stage players including Purplle, Zepto, Rapido, and Sachin Bansal’s Navi Technologies are looking to score some larger funding rounds. The Reserve Bank of India (RBI) is considering the establishment of a public register of whitelisted lending apps to combat illegal lending practices. The central bank aims to create the Digital India Trust Agency (DIGITA) to oversee the lending ecosystem and ensure credible operations. Lending apps without a ‘verified’ signature from DIGITA would be deemed unauthorized and face strict action. This initiative follows incidents of suicides linked to predatory lending practices. Additionally, Zomato faced another challenge as it was ordered to pay a service tax of Rs 92 crore. This comes after receiving a GST notice of Rs 23.26 crore for FY19 from Karnataka tax authorities.

Funding and acquisitions in Indian startups this week [22-27 Apr]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [22-27 Apr]
Medial

During the week, as many as 27 Indian startups raised nearly $222.7 million in funding. These deals include 7 growth-stage deals and 17 early-stage deals. Meanwhile, three early-stage startups did not disclose the amount raised. Last week, about 37 early and growth-stage startups collectively raised around $310 million in capital. [Growth-stage deals] Among the growth-stage deals, 7 startups raised $150.6 million in funding this week. Financial services firm Northern Arc led the list with $80 million in funding. The list was followed by network-as-a-service provider CloudExtel, trucking aggregator for enterprises LetsTransport, online marketplace for financial products BankBazaar, provider of business, property, and school financing Clix Capital, agri-fintech platform Samunnati, and co-working space provider Smartworks which raised $24 million, $22 million, $9.6 million, $6 million, $5 million, and $4 million, respectively. [Early-stage deals] Subsequently, 17 early-stage startups scooped funding worth $72.08 million during the week. Omni-channel fashion brand Lyskraft spearheaded the list followed by space-tech startup Dhruva Space, real estate and infra decarbonization platform Accacia, B2C credit management firm CheQ, and an open-source project management platform Plane. The list further includes a provider of Solar EPC solutions Soleos Solar Energy, healthcare and insurtech firm FlashAid, elder care startup bubble tea and other food items platform Boba Bhai, sustainable container logistics and supply chain optimization startup MatchLog, and SIM-based outbound call management company Runo among others. The list of early-stage startups also includes three startups that kept the funding amount undisclosed: FlexiCloud, Nikitek (GoDigiTag), and Rentomojo. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 10 deals followed by Delhi-NCR, Mumbai, Chennai, Hyderabad, Ahmedabad, and others. Segment-wise, fintech startups grabbed the top spot with five deals followed by SaaS startups. The list further counts e-commerce, logistics, proptech, healthtech, and AI startups among others. The complete breakdown of deals across cities and segments can be seen below: [Series-wise deals] During the week, Seed funding deals led the list with 11 deals while Pre-Series A deals are at the second position with 6 deals, both collectively forming around 30% of the total funding. Further, Debt, Series C, Series D, and Series E are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding declined 28% to $222.7 million as compared to around $310 million raised during the previous week. The average funding in the last eight weeks stands at around $247 million with 26 deals per week. [Departure] Piyush Gupta, the managing director of Peak XV Partners, is set to depart from the firm by the end of this month. Reports suggest that Gupta is planning to establish a secondary-focused fund after his tenure at Peak XV. [Fund launches] Three startup-focused funds were launched this week. Norwest Venture Partners has raised $3 billion for its new fund, NVP 17, which will be deployed in the US, India, and Israel. Lighthouse Canton has launched the LC GenInnov Global Innovation Fund, focusing on companies in generative artificial intelligence (GenAI). Kedaara Capital has closed its fourth investment vehicle, Kedaara IV, at $1.73 billion, making it their fourth fund in 12 years, raised in just four months. [Layoffs] SaaS startup HealthPlix laid off 100 employees, constituting 25% of its workforce, as part of a restructuring and annual performance review. According to a report, approximately 60 employees were terminated due to poor performance, while the rest were affected by role redundancies. [Mergers & Acquisitions] Awign, a work-as-a-service platform, announced the acquisition of a majority stake in Mynavi Corporation. As part of this partnership, some of Awign’s early backers, such as Capria, Lumis, MSDF, Amicus Capital, and Pankaj Bansal, will also depart. [New launches] ▪️ Former BharatPe CPO Ankur Jain to launch new startup Jivi.ai ▪️ BharatPe launches all-in-one payment device BharatPe One [Financial results this week] ▪️ Lenskart is EBITDA profitable with Rs 3,788 Cr revenue in FY23 ▪️ Third Wave Coffee’s scale grows 4.5X to Rs 144 Cr in FY23 ▪️ Groyyo’s gross revenue nears Rs 500 Cr in FY23 ▪️ FarEye spent Rs 361 Cr to earn Rs 139 Cr in FY23 ▪️ Seven-year-old unicorn Open struggles to match deeds to reputation ▪️ Apna Mart, the D Mart for India’s smaller cities, grows 770% in FY23 [News flash this week] ▪️ FirstCry to withdraw IPO papers, may refile with latest financials: Report ▪️ Swiggy gets shareholders’ nod to float $1.25 Bn IPO ▪️ PayU to onboard new merchants as it gets a PA license from RBI ▪️ Awfis, TBO receive a final nod from SEBI for the IPO ▪️ Flipkart Ventures to focus on Gen AI startups in third accelerator program ▪️ Former BharatPe CEO Suhail Sameer floats VC fund ▪️ RBI directs TalkCharge to cease operation ▪️ Zomato piloting priority deliveries in Bengaluru, Mumbai [Conclusion] After a significant rise in funding, the weekly funding again slipped nearly 28% this week. The week saw three new fund launches by VC firms namely Lighthouse Canton, Norwest Venture Partners, and Kedaara Capital. The week also witnessed a layoff as SaaS startup HealthPlix fired a part of its workforce. Brainbees Solutions, the parent company of FirstCry, is reportedly withdrawing its $500 million IPO due to questions raised by SEBI over key disclosed metrics. Swiggy has received shareholders’ approval for its $1.25 billion IPO, moving closer to its public listing. Awfis and TBO have also received SEBI’s approval for their respective IPOs. PayU has received provisional approval from the Reserve Bank of India (RBI) to function as a payment aggregator, enabling the fintech company to onboard new merchants. In January 2023, the RBI instructed PayU, controlled by Prosus, to reapply for the license, leading to a temporary halt in onboarding new customers. Foodtech company Zomato is testing a new feature in select areas of Bengaluru and Mumbai, offering priority deliveries to customers for an extra fee. In Bengaluru, users were given the choice of receiving their orders within 16-21 minutes by paying an additional Rs 29, compared to the standard delivery time of 21 minutes displayed on the app.

Funding and acquisitions in Indian startups this week [28 Aug-02 Sep]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [28 Aug-02 Sep]
Medial

During this week, 13 Indian startups secured approximately $52 million in funding, with MediBuddy and SatSure leading the way with $18 million and $15 million respectively. In comparison, the previous week witnessed 19 Indian startups amassing a total of around $233 million in funding, with one startup's details undisclosed. Among the 13 rounds this week, only MediBuddy, a growth stage startup, raised $18 million, while the remaining 12 were early-stage startups. Bengaluru-based startups dominated the funding scene, accounting for $41 million or 78.68% of the total funding, followed by Delhi NCR and Hyderabad-based startups. Fintech startups secured the most deals, followed by logistics and healthtech. Additionally, four companies, namely CoinSwitch, Kenko Health, Omuni, and Khatabook, announced employee layoffs during this week, and TripCrafters merged with Holidify.

Download the medial app to read full posts, comements and news.