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Top News of the Week: 1. Fundings: - Indian startups raised a total of $316.4 million in funding across 23 deals in the first week of May, a significant increase from the previous week's $172.6 million raised across 21 deals. - Digital pharmacy PharmEasy bagged $216.2 Mn as part of its rights issue at a 90% valuation cut compared to its peak valuation of $5.6 Bn in October 2021. - Driven by PharmEasy’s mega funding, healthtech displaced fintech to become the most funded sector this week. Healthtech startups raised $236.2 Mn across three deals this week. - Ecommerce maintained its streak of securing the most number of deals. Startups in the space netted $8.2 Mn across five deals this week. - Despite the positive upturn in the funding trends overall, seed funding dropped significantly this week. Startups at this stage were able to bag only $12.3 Mn this week, down 64% from last week’s $33.9 Mn. 2. Acquisitions: - Momspresso founders Vishal Gupta and Prashant Sinha’s new venture Pravis has picked up a stake in adtech gaming platform StreamO. The growth marketing firm will leverage StreamO’s 300 Mn subscribers to target GenZ communities. - Non-banking finance company (NBFC) UGRO Capital has initiated the acquisition process of lending tech startup MyShubhLife in a mix of equity (64%) and cash (36%) at an enterprise value of INR 45 Cr. - SaaS major Freshworks announced the acquisition of Delaware Corporation’s Device42 for $230 Mn. The purchase price would be paid in the form of $215 Mn of cash and an equity rollover of $15 Mn. - Chennai-based SaaS metering and pricing platform Togai is in the process of getting acquired by California-based Zuora. The subscription management software company is looking to enhance its monetisation with the Togai’s acquisition - PB Fintech, the parent company of insurtech platform Policybazaar, is set to acquire 100% stake in UAE-based Genesis Group. It will also be divesting stakes in two subsidiaries, Visit Health Private Limited and Visit Internet Services Private Limited 4. Other Major Developments: - Thyrocare founder Arokiaswamy Velumani has joined hands with Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust to invest up to INR 50 Cr in Indian startups. - Gold loan startup Rupeek has initiated funding discussions with Claypond Capital and Axis Bank. The startup is looking to raise an undisclosed amount of funding at a substantially reduced valuation of $200-$250 Mn from its 2022 valuation of $600 Mn. - Tribe Capital is looking to invest $75 Mn in Shiprocket through its newly-launched special purpose vehicle (SPV). The transaction is expected to be completed in a few weeks. - Healthtech unicorn Innovaccer is in talks with health major Kaiser Permanente to raise a funding in the range of $200 Mn-$250 Mn in a mix of primary and secondary funding. 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!