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Harsh Dwivedi
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Medial • 6m
Summing Up the Week for you! 1. Fundings: - Indian startup ecosystem was a low-key affair this week as compared to the previous six-day period. Between May 6 and 11, startups cumulatively raised $220.2 Mn across 21 deals, a 30% decline from last week’s $316.4 Mn secured in 23 deals. - Despite the muted funding trends in the week, one mega deal materialised in the week for SaaS startup Atlan. The data collaboration software provider bagged $105 Mn in its Series C funding round, co-led by GIC and Meritech Capital. The round also saw Atlan’s post-money valuation climbing to $750 Mn. - Enterprisetech rose to dominate funding trends at a sectoral level. Startups in the space raised $113.2 Mn across 5 deals, the greatest number of deals secured at a sectoral level. - Peak XV Partners, Endiya Partners, Nitin Gupta, and Inflection Point Ventures were the most active investors this week, backing 2 startups a piece. Seed funding continued to tumble down this week, with startups at this stage securing $8.4 Mn this week. This is a 32% decline from last week’s $12.3 Mn. 2. Acquisitions: - Digital solutions provider Hexaware Technologies has acquired data consulting firm Softcrylic for an undisclosed sum. It has bought the US-based firm to strengthen its data and analytics capabilities. - Private equity firm KKR announced that it will acquire medical devices company Healthium Medtech Ltd from an affiliate of funds advised by Apax Partners LLP for an undisclosed amount. 3. Major Developments: - Lending tech startup Niro is eyeing $4.3 Mn in a pre-Series B funding round. It is looking to raise the funds from Marui Group, along with existing investors like Elevar Equity, GMO Venture Partners, Rebright Partners, among others, at a valuation of $55 Mn. - InCred Capital’s Incred Alternative Investments marked the first close of its maiden private equity fund with capital commitments of over INR 330 Cr. The Vivek Singla-led venture capitalist (VC) firm is targeting to close the fund at INR 500 Cr. - Pune-based software company Icertis is looking to raise $150 Mn via a secondary share sale, a deal that could see an increased investment from SoftBank.
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