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Harsh Dwivedi
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Medial • 6m
Summing Up this Week: 1. Indian startups registered $151 million in VC funding across 23 deals, compared with the $210 million they raised last week. 2. IPO-bound Ola Electric bagged the biggest cheque this week, securing $50 Mn in debt funding from EvolutionX Debt Capital via non-convertible debentures (NCDs). 3. Maintaining its lead from last week, enterprise-tech sector bagged the most funding of $52.3 Mn through 8 deals. 4. Seed-stage startup funding picked up steam this week with startups netting $8.1 Mn, up 270% from last week’s $3 Mn. 5. In an acquisition within Amazon India’s sellers space, Clicktech acquired Appario, one of the largest seller entities on the e-commerce marketplace. 6. Business services provider Quess Corp Limited has fully acquired gig economy platform Taskmo for an undisclosed amount. Both Taskmo founders – Prashant Janadri and Naveen Ram – will exit once the acquisition by Quess is completed. 7. Other Major Developments From This Week: - Quick commerce unicorn Zepto has initiated discussions with a clutch of global investors to raise $300 Mn at a valuation range of $2.5-$3 Bn. It was last valued at $1.4 Bn in 2023. -- Fintech unicorn Navi is in talks with investors to raise $200-$400 Mn in funding at a valuation of $2 Bn. This will be the Flipkart cofounder Sachin Bansal-led startup’s maiden external fundraise. -- Ride-hailing startup Rapido is eyeing a mega $100 Mn fundraise from existing investor WestBridge Capital and others at a valuation to $900 Mn. It has reportedly received commitments of around $70 Mn and is currently approaching Indian family offices for the rest. -- Beauty ecommerce marketplace Purplle is currently in initial discussions with Abu Dhabi Investment Authority (ADIA) for a $100 Mn investment. The investment is expected to come through secondary transactions, allowing some early investors to exit. -- Investors in talks to help Elon Musk's xAI raise $3 billion Stay Updated. Stay Informed. Stay Ahead. Share Medial App within your network and friends to grow this community. Please rate us on iOS AppStore/ Google Play Store to help us be visible to more awesome folks like you! New Features Coming Soon. Complete/Update Your Profiles!
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