The Indian startup ecosystem raised a total of around ₹3,800 crores ($535.68 million) in November 2018 in 11 seed rounds, 6 debt rounds, 4 angel rounds, 7 series A rounds, 6 series B rounds 3 series C rounds, 2 series D rounds, 2 pre-series A rounds, 1 pre-seed round, 1 private equity round and 5 unknown rounds of funding.
The venture capital firms that participated in the funding round include Mayfield Fund, Vy Capital, Omidyar Network, Venture Catalysts, AnyPay, RP-SG Ventures, Pi Ventures, Sequoia Capital, Impact Partners, StartupXseed Ventures, XSeed Capital, IvyCap Ventures, Paragon Partners, Omidyar Network, Lightspeed Venture Partners, Tech Circle Ventures, Accel, SAIF Partners, BlueOrchard and Stellaris Venture Partners.
Venture firms like Anicut Capital, Chiratae Ventures, InnoVen Capital, Kalaari Capital, Blume Ventures, Venture Catalysts, Stevens Creek Ventures, Alteria Capital, Norwest Ventures, Trifecta Capital, SteadView Capital, Accel, C4D Partners, Exfinity Venture Partners, SucSEED Venture Partners, Prime Ventures, Venture Highway, Omphalos Venture India, Das Capital and Ankur Capital also participated in the funding rounds.
Angel investors like Ganesh Krishnan, Amrish Rau, Lakshmikantan Sundereswaran, Dilipkumar Khandelwal, Dipak Varshney, Rishabh Mahimtura, Puneet Garg, Vishal Brambhatt, Ritesh Sharma, Rajan Anadan, Mahesh Mohta, Kris Gopalakrishnan, Joge Bhardwaj, Ranbir Singh, Subhinder Khurana, Ranjan PaiShamik Sharma, Anand Chandrasekaran, Binny Bansal and Bhupinder Singh invested in November 2018.
Important Note – There may be some errors in the report due to the fluctuations in the exchange rates of Indian Rupee and United States Dollar. We have used $1=₹71 as the exchange rates while all the calculations. The rates at the time of reading this report may be different from the rates at the time of preparing this report. Readers discretion is advised.
Which sectors raised the most funds?
Consumer-focused startups raised the most funds. Ten consumer startups including Meesho, UrbanClap, Spinny, The Souled Store, Yaantra, Perpule, Fresh Rooms, Magicpin, Roposo and others raised more than ₹1,048 crores ($147 million) from several investors. Investors like YCombinator, SAIF Partners, Sequoia Capital India and Venture Highway were most interested in consumer-focused startups.
Automotive startups also remained at the top of receiving funds. Five startups in the sector bagged a total of more than ₹943 crores ($132 million) from investors like Das Capital, Axon Partners, Omidyar Network, Accel Partners and Sequoia Capital India. Startups that received funds in the sector are Drivezy, Truebil, Bounce, CleanseCar and DriveU.
Five companies in the healthcare sector including HealthifyMe, NIRAMAI Health, Hospals, Idha Skin Clinic, and Stellis Biopharma secured more ₹806 crores ($113 million) from venture firms. The most active investors in the sector include GMS Holdings, Strides Pharma Science, InnoVen Capital, Pi Ventures, Axilor Ventures, and Venture Catalysts.
As always, Fintech sector garnered the love of angel investors as well as various venture capitalists. Eight fintech startups including CashRich, Lendbox, Paymatrix, Veritas Finance, Aye Finance, Signzy, and InCred raised a total of around ₹649 crores ($91 million) from investors like Paragon Partners, XSeed Capital, SucSEED Venture Partners and Norwest Ventures.
Genius Corner, Career Anna, Eruditus and Vedantu are the startups from the edtech sector that raised around ₹368 crores ($51 million) from investors like Sequoia Capital India, Omidyar Network, Accel Partners, and various angel investors like Subhinder Khurana, Ranbir Singh, Mahesh Mohta, Puneet Garg, Dipak Varshney and Lakshmikantan Sundereswaran.
Startups in the technology sector raised around ₹81 crores ($11 million) whereas startups in the gaming sector raised around ₹60 crores ($8 million). Agritech sector received ₹58 crores ($8 million) whereas the food and beverage industry received ₹14 crores ($2 million).
Who were the most active investors?
Don Valentine founded Sequoia Capital’s Indian investment arm Sequoia Capital India tops the list by investing around $106 million in social networking startup Meesho, edtech firm ERUDITUS, scooter sharing platform Bounce and fintech startup Turtlemint.
The second most active investor was Hong Kong-based SAIF Partners who invested around $64 million in social networking startup Meesho, consumer retail startup Spinny, and gaming startup Mech Mocha.
New Delhi-based venture capital firm Venture Highway also invested a total of around $54 million in retail startup Perpule and social networking startup Meesho.
Palo Alto-based Accel invested $36 million in consumer retail startup Spinny, edtech startup Vedantu, scooter sharing firm Bounce, gaming startup Mech Mocha and workplace HR tech startup Hush.
Omidyar Network invested $21 million, Kalaari Capital invested $8 million and Venture Catalysts invested $2 million. Several other angel investors also participated in the funding rounds and have invested a significant amount in the Indian startup ecosystem.
Which Funding Stages raised the most capital?
Debt Financing – ₹841,18,50,000 or $118,476,762
Six startups raised funds in the form of debt capital. These startups include consumer retail startup Spinny, automobile sharing startup Drivezy, refurbished mobile marketplace Yaantra, car marketplace Truebil, messaging app Dunzo and fintech startup Aye Finance.
The Indian startup ecosystem raised a total of around ₹841 crores ($118 million) in various debt financing rounds in November 2018.
Venture debt firms like Japan-based AnyPay, Mumbai-based Blume Ventures, Chennai-based Anicut Capital, San Francisco-based Trifecta Capital and Mumbai-based Alteria Capital led the funding rounds.
Seed Rounds – ₹86,76,00,000 or $12,219,722
Healthcare firm NIRAMAI Health, medical tourism startup Hospals, search engine BhaskarGuru, fintech startup CashRich, fintech startup Paymatrix, food and beverage startup Go DESi and hoi foods, IoT and sanitation startup Fresh Rooms and peer to peer lending startup Lendbox raised a total of around ₹86 crores ($12 million) from various investors in seed round.
Investors like Mumbai-based IvyCap Ventures, 1Crowd, Lead Angels Network and Ankur Capital, California-based Accel, Bengaluru-based Pi Ventures and Axilor Ventures, Mumbai-based Venture Catalysts, Singapore-based Spiral Ventures, Portola Valley-based xSeed Capital and Hyderabad-based SucSEED Capital led the seed rounds.
Angel investors like Shamik Sharma (Ex-CPO/CTO Myntra) and Binny Bansal (co-founder of Flipkart) also participated in the round. The Bansals are very active in investing in the Indian startup ecosystem. Earlier, Sachin Bansal was in talks looking for agritech startups across the country to invest in.
Series A – ₹226,98,00,000 or $31,969,015
Clean energy startup Freyr Energy, sales automation startup Verloop, artificial intelligence startup DeTect Technologies, risk management startup Signzy, retail startup Perpule and Spinzy and e-sports startup Mobile Premier League (MPL) raised a total of around ₹226 crores in series A funding rounds.
Investors like Singapore-based Impact Partners, Dutch impact investor C4D Partners, IDFC-Parampara Fund, Growth Story, Hong Kong-based SAIF Partners, Bengaluru-based Stellaris Venture Partners and Kalaari Capital, Amsterdam-based Prime Ventures, New Delhi-based Venture Highway and Palo Alto-based Accel led the rounds.
Some angel investors like Rajan Anandan Google’s MD & VP India), Amrish Rau (CEO of PayU), Dilipkumar Khandelwal (President of SAP Hana Enterprise Cloud), Ranjan Pai (CEO & MD of Manipal Education and Medical Group), Kris Gopalakrishnan (Chairman of Axilor Ventures), Ganesh Krishnan (Co-Founder of Portea Medical) and Anand Chandrasekaran (Director of Platform / Product Partnerships for Messenger at Facebook) also participated in the funding rounds.
Series B – ₹ 1101,70,00,000 or $155,169,015
Bengaluru-based Strides Pharma Science, Jordan-based GMS Holdings, Japan-based Yamaha Motors, Madrid-based Axon Partners, Tokyo-based Das Capital, California-based Omidyar Network, Palo Alto-based Accel, Mumbai-based InnoVen Capital, South Korea-based Neoplux, Bengaluru-based Chiratae Ventures and Bill & Melinda Gates Foundation participated in Series B rounds.
Six startups raised ₹1,101 crores ($155 million) in series B round from investors in November 2018. The startups that raised funds in series B rounds are agritech startup CropIn Technologies, biotech startup Stelis Biopharma, self-driving car rental startup Drivezy, edtech startup Vedantu, healthcare startup HealthifyMe and gaming startup Mech Mocha.
Series C – ₹508,00,00,000 or $71,549,296
Gurugram-based consumer retail startup Magicpin and social network startup Roposo, Bengaluru-based social network startup Meesho and Mumbai-based edtech startup ERUDITUS raised a total of around ₹508 crores ($71 million) from various investors in Series C round of funding.
Investors like California-based Lightspeed Venture Partners, London-based Tech Circle Ventures, Netherlands-based Bertelsmann India Investment, California-based YCombinator, Hong Kong-based SAIF Partners, Sequoia Capital India, Beijing-based Shunwei Capital and Venture Highway were the most active investors who invested in series C rounds.
Series D – ₹555,00,00,000 or $78,169,015
New Delhi-based managed marketplace for home services UrbanClap and Tamil Nadu-based working capital lending solutions Veritas Finance raised a total of around ₹555 crores ($78 million) in series D round of funding.
Investors including Dubai-based venture capital firm Vy Capital, Hong Kong-based venture capital firm SteadView Capital and Palo Alto-based Norwest Ventures (a subsidiary of Wells Fargo) participated in series D round of funding in November 2018.
pre-Series A – ₹18,00,00,000 or $2,535,212
Startups including Bengaluru-based career commerce portal Career Anna and risk assessment company which provides the intelligence needed to tackle online threats CloudSEK raised a total of around ₹18 crores in pre-series A round of funding.
Venture capital firms like Bengaluru-based StartupXseed Ventures and Exifinity Venture Partners led the investments. Subinder Khurana, Member of the Board, Charter Member, TiE as well as Director at TAC Security also participated in the pre-series A funding round.
List of Startups that raised funds in November 2018
Milkbasket – ₹10,00,00,000 or $1,408,451
Micro-delivery startup Milkbasket raised ₹10 crores in a fresh round of funding from US-based VC firm Mayfield Fund, VCCircle reported. The Gurugram-based startup is expected to be valued at ₹161-168 crores ($22-23 million) with the latest development. Nikhil Khattau, the MD of Mayfield Fund will join the startup’s board post the deal.
UrbanClap – ₹355,00,00,000 or $50,000,000
UrbanClap, a managed marketplace for home services based out of India and UAE, announced the closure of its Series D round of funding. The round was led by Steadview Capital and existing investor Vy Capital. The company has raised USD 50 million in primary capital. Additionally, the company is also facilitating a secondary sale of ESOPs and stocks worth approximately USD 4 million for its employees and early angels.
Bounce – ₹71,00,00,000 or $10,000,000
Bengaluru-based Wickedride Adventure Services Pvt. Ltd, which operates dockless scooter and bicycle sharing platform Bounce, is raising a little over $10 million (Rs 71 crore at current exchange rates) in a fresh funding round, two persons directly in the know told TechCircle.The company will raise this sum from new and existing investors including Sequoia Capital and Accel among others.
Career Anna – ₹4,00,00,000 or $563,381
Bengaluru-based online course provider Career Anna raised ₹4 crores in a pre-series A round of funding from a group of angel investors led by Subinder Khurana. The team plans to use the funds to launch learning programmes in vernacular languages including Tamil, Hindi, Telugu and Kannada. The firm will also use the funds to build user engagement tools on the platform.
Hospals – ₹10,65,00,000 or $1,500,000
Medical tourism startup Hospals raised ₹10 crores ($1.5 million) in a funding round from Japan’s Spiral Ventures and Venture Catalysts. The freshly raised capital will be used to expand operations nationally across India as well as internationally across the Middle East and North Africa.
Drivezy – ₹710,00,00,000 in Debt and ₹142,00,00,000 in Equity
Bengaluru-based self-driving cars and bike rental company Drivezy raised $20 million (₹142 crores) in Series B round of funding from Das Capital. Investors like Axan Ventures, Yamaha Motor and IT-Farm also participated in the funding round. Apart from the equity investment, the firm has raised an additional $100 million (₹710 crores) in an asset financial deal.
The Souled Store – ₹21,30,00,000 or $3,000,000
Mumbai-based pop culture merchandise marketplace The Souled Store raised ₹22 crores ($3 million) in a fresh funding round from Sanjiv Goenka Group-backed RP-SG Ventures. The startup will use the funds to improve its backend technology and increase its marketing budget. Post the investment, Abhishek Goenka, Head of RP-SG Ventures will join the board of the firm.
Hush – ₹4,50,00,000 or $633,803
Close on the heels of its August seed round, workplace discussion platform Hush raised an additional round of Rs 4.5 crore from Accel and Shamik Sharma, former CTO of Myntra and current Business Head at Curefit.
NIRAMAI Health Analytix – ₹42,60,00,000 or $6,000,000
Healthtech startup Niramai raised about $6-7 million in a fresh round from Pi Ventures, Axilor, Ankur Capital and Flipkart co-founder Binny Bansal. All had infused an undisclosed seed fund in the Bengaluru-based startup in April, last year. Niramai would be the third investment for the former Flipkart Group CEO, who exited the firm recently.
Turtlemint – ₹42,60,00,000 or $6,000,000
VC firm Sequoia Capital reportedly invested $6 Mn in insurance portal Turtlemint. Turtlemint was founded by former Quikr executives Dhirendra Mahyavanshi and Anand Prabhudesai in 2015. It had earlier raised funding from Nexus Venture Partners and Blume Ventures. It offers clients advice based on algorithm and data analytics and connects customers to offline facilitators for insurance purchase and claims assistance.
Freyr Energy – ₹10,65,00,000 or $1,500,000
Hyderabad-based rooftop solar startup Freyr Energy raised ₹27 crores in Series A round of funding from Netherland-based C4D Partners. Freyr Energy will use the freshly raised capital to ramp up its technology and increase the strength of sales and channel partner network. The startup will also focus on product marketing to some extent.
CloudSEK – ₹14,00,00,000 or $1,971,831
Security management startup CloudSEK raised ₹14 crores in a pre-series A round of funding from Exifinity Venture Partners and StartupsXseed. The startup is headquartered in Singapore and also operates in Bengaluru. CloudSEK works on a SaaS model.
Verloop – ₹21,30,00,000 or $3,000,000
Bengaluru-based Verloop closed a $3 Mn Series A investment round led by IDFC Parampara Fund. Infosys co-founder Kris Gopalakrishnan, and Dr Ranjan Pai, the chairman of the Manipal Education and Medical Group (MEMG), also participated in the funding round.
Paymatrix – ₹71,00,000 or $100,000
Hyderabad-based online property rent management platform Paymatrix raised ₹70 lakhs ($100,000) in pre-Series A round of funding from SucSeed Venture Partners. The startup will use the freshly raised capital to improve its technology platform and boost its marketing efforts.
Lendbox – ₹6,00,00,000 or $845,071
P2P lending marketplace Lendbox raised an undisclosed amount of funding in pre-Series A round from IvyCap Ventures. The investment is somewhere in the range of ₹5 to ₹6 crores, according to Entrackr sources. Post the deal, Akanksha Sharma, IvyCap’s Vice President will join the board of LendBox.
Idha Skin Clinic – ₹50,00,000 or $70,423
Bengaluru-based skin treatment and cosmetics startup Idha Skin Clinic raised around ₹50 lakhs from undisclosed investors in a seed round of funding. Previously, it raised around ₹65 lakhs from undisclosed investors. Idha (skin hair and laser) clinic is a team of specialist practice focused on dermatology, trichology and cosmetology.
InCred – ₹297,49,00,000 or $41,900,000
Mumbai-based digital lending application InCred reportedly raised $41.9 Mn (₹300 Cr) in a funding round led by its founder Bhupinder Singh along with some other private equity investors such as Siddharth Parekh’s Paragon Partners.
Vedantu – ₹78,10,00,000 or $11,000,000
Bengaluru based online tutoring startup Vedantu raised ₹78 crores ($11 million) in series B round of funding from Omidyar Network. Existing investor Accel Partners also participated in the funding round.
Stelis Biopharma – ₹710,00,00,000 or $100,000,000
Strides Pharma Science Ltd’s board approved an investment of $15 million in Stelis Biopharma Pvt Ltd (Stelis), as part of the latter’s $100-million Series B funding round. The first close of the current fundraising is $35 million, of which Strides will commit $15 million and $20 million is from other existing shareholders, Strides said, in a BSE announcement.
Magicpin – ₹141,00,00,000 or $19,859,155
Local discovery and reward startup MagicPin raised ₹141 crores ($20 million to be exact) in a funding round from Lightspeed Venture Partners US. Earlier in March this year, MagicPin raised $1 million in a debt funding round. In total, the firm has received around $10 million from venture capital firms like Vy Capital, Knollwood Investment Advisory and Sequoia Capital India.
Roposo – ₹12,00,00,000 or $1,690,141
Gurugram-based social media startup Roposo raised around ₹12 crores ($1.7 million), in a fresh funding round from Bertelsmann India Investments, as per a VCCircle Report. The latest funding will value Roposo at ₹174 crores (around $25 million) which is lower than the post-money valuation of ₹478 crores in April 2016.
Mech Mocha – ₹71,00,00,000 or $10,000,000
Mech Mocha, the Bengaluru-based mobile gaming startup is in the process of raising $10 million (around ₹72 crores) in its series B funding round. The gaming firm is looking to mark the first close of its funding round at $5-6 million, both from existing and new investors.
DeTect Technologies – ₹23,43,00,000 or $3,300,000
Chennai-based IoT startup DeTect Technologies raised ₹24 crores ($3.3 million) in Series A funding round led by SAIF Partners. The round also saw participation from BlueHill Capital, Axilor Ventures, Bharath Innovation Fund and Keiretsu Forum.
CashRich – ₹7,10,00,000 or $1,000,000
CashRich, the Mumbai-based wealth management startup raised ₹7 crores in a funding round from three angel investors based in the United Kingdom. The firm plans to use the funds to boost its technology and automate the steps like asset allocation, rebalancing and portfolio division. It will enable deep personalisation and enhance customer experience.
Aye Finance – ₹72,00,00,000 or $10,140,846
The MSME lender Aye Finance raised ₹72 crores in debt funding from BlueOrchard, a Swiss-based impact investor. The fintech firm will use the funding to enhance its credit portfolio and market its solutions to reach medium and small businesses at grassroots levels to bring them under financial security.
Signzy – ₹24,00,00,000 or $3,380,282
Bengaluru-based fintech platform Signzy raised Series A funding of $3.6 million led by Stellaris Venture Partners and Kalaari Capital. Angel investors like Rajan Anandan, Google India and South East Asia MD; Amrish Rau, PayU India CEO; Dilip Khandelwal, SAP Labs India MD and Vikram Chachra, Partner, 8i Ventures participated in this round.
Yaantra – ₹14,20,00,000 or $2,000,000
Yaantra, the New Delhi-based smartphone repair and the resale startup raised ₹15 crores ($2 million) from Anicut Capital. According to VCCircle’s resources, the investment is made through non-convertible ventures.
Genius Corner – ₹2,00,00,000 or $281,691
Edtech startup Genius Corner raised ₹2 crores in an angel funding round from Ranbir Singh, Lakshmikantan Sundereswaran and Mahesh Mohta. Several other investors also participated in the funding round including Puneet Garg and Dipak Varshney.
CropIn Technologies – ₹58,00,00,000 or $8,169,015
CropIn Technologies, the Bengaluru-based agricultural technology startup raised ₹57 crores ($8 million) from Chiratae Ventures in series B round of funding. The Bill and Melinda Gates Foundation Strategic Investment Fund also participated in the funding round.
Biizlo – ₹3,50,00,000 or $492,958
Home security startup Biizlo raised around ₹3.5 crores from angel investors Joge Bharadwaj and Ritesh Sharma, both directors of Mumbai-based Eagle Group. The Mumbai-based startup will use the funds to boost its sales and improve operations, marketing and technology.
Fresh Rooms – ₹3,00,00,000 or $422,536
Indore headquartered tech-driven sanitation startup Fresh Rooms secured ₹3 crores in seed funding from an individual angel investor. The name of the investors is however undisclosed. The startup will use the funds to expand the brand to multiple cities and busiest destinations all over the country.
HealthifyMe – ₹42,60,00,000 or $6,000,000
Bengaluru-based HealthifyMe, the health and fitness startup raised ₹43 crores ($6 million to be exact) in a bridge round, as part of the extended series B funding. The latest round was a combination of equity and debt funding from existing investors like Sistema Asia Fund, Samsung NEXT, Chiratae Ventures, Blume Ventures, Inventus Capital and venture debt fund InnoVen Capital.
Tranzmeo – ₹95,85,000 or $135,000
Cochin-based business intelligence startup Tranzmeo raised around ₹95 lakhs ($135,000 to be exact) from Hindustan Petroleum Corporation Limited in a pre-seed round of funding. The startup has earlier received grants from the Kerala Startup Mission worth $17,000. It is an anomaly forensics company which provides a complete comprehensive anomaly forensic solution with actionable insights.
hoi foods – ₹3,60,00,000 or $507,043
Gurugram-based food technology startup Hoi Foods raised around ₹3.6 crores in a pre-series A round of funding from crowdfunding platform 1Crowd and its community of investors. Several other investors including Mumbai-based Gemba Capital and Prime Holdings also participated in the funding round.
Perpule – ₹34,00,00,000 or $4,788,733
Perpule, the Bengaluru-based omnichannel retail technology startup raised ₹34 crores ($4.7 million) in series A round of funding from Prime Venture Partners, Venture Highway and Kalaari Capital. Kalaari Capital and Venture Highway are the existing investors in the startup as they have earlier funded the firm.
Spinny – ₹ 78,10,00,000 in Equity and ₹ 28,40,00,000 in Debt
Used car buying and selling platform Spinny is raising about $15 million financing round led by Accel Partners and SAIF Partners. According to the sources, Accel will put about $6 million while SAIF would inject about $5 million in three years old venture. Remaining $4 million would come through a mix of debt and equity funding from existing investor Blume Ventures.
CleanseCar – ₹3,50,00,000 or $492,958
Daily car washing startup CleanseCar raised ₹3.5 crores in an angel round of funding from venture capital investment platform Venture Catalysts. Rishabh Mahimtura, Anil Patel, Vishal Brambhatt and Omphalos Venture India are some of the prominent angel investors from the Venture Catalysts network who participated in the funding round.
DRIVEU – ₹7,00,00,000 or $985,916
Bengaluru-based DriveU, an online platform that connects drivers with private car owners, raised mezzanine funds worth Rs 7 crore (around $1 million) in a round led by California-based Stevens Creek Ventures. Mezzanine finance involves high-interest rates and an option to convert debt into equity in case of a default, generally after venture capital companies and other senior lenders are paid.
BhaskarGuru – ₹7,10,00,000 or $1,000,000
Bhopal-based online search startup BhaskarGuru raised $1 million in seed funding from undisclosed investors. Bhaskarguru.com is a local search engine rather said to be a “solution to all needs” that uses Indian postal pin code to take you to all the services you want.
Dunzo – ₹7,00,00,000 or $985,916
Task management startup Dunzo secured ₹7 crores in a debt funding round led by venture capital firm Alteria Capital, VCCircle reported. The Bengaluru-based firm raised the funds by issuing secured non-convertible debentures.
Mobile Premier League – ₹35,50,00,000 or $5,000,000
e-Sports gaming startup Mobile Premier League aka MPL secured ₹36.5 crores ($5 million to be exact) in a series A round of funding, VCCircle reported. However, the details of the deal including names of the investors have not been disclosed by the startup.
Meesho – ₹355,00,00,000 or $50,000,000
Bengaluru-based social commerce startup Meesho raised ₹370 crores ($50 million) in a series C round of funding. The latest development will value the social platform between ₹1480 to ₹1850 crores ($200 to $250 million), as per an Economic Times report.
Go DESi – ₹1,00,00,000 or $140,846
GO DESi, the Bengaluru-based food brand raised ₹1 crore in seed funding from Lead Angels Network, a Mumbai-based investment firm. Serial entrepreneur R Ramaraj who founded and served as the CEO of Sify also participated in the funding round.
Veritas Finance – ₹200,00,00,000 or $28,169,015
Chennai-based non-banking finance company Veritas Finance raised ₹200 crores in Series D funding from Norwest Venture Partners. Other existing investors also participated in the funding round.
Truebil – ₹9,58,50,000 or $1,350,000
Chennai-based non-banking finance company Veritas Finance raised ₹200 crores in Series D funding from Norwest Venture Partners. Other existing investors also participated in the funding round.
Bigphi Technologies – ₹6,39,00,000 or $900,000
Bengaluru-based technologically advanced apparel and wearable company Bigphi Technologies Private Limited raised $900K in an angel round from LetsVenture and AngelList. It manufactures smart wearables for Indian consumers.
List of Acquisitions & Mergers in November 2018
1. Online restaurant booking startup Dineout acquired Torqus, a Pune-based SaaS restaurant management software startup for an undisclosed amount.
2. NTT Data, a Tokyo-based IT firm acquired a majority stake in the Mumbai-based end to end payment service Atom Technologies.
3. Bounce (earlier known as Metro Bikes), the Bengaluru-based scooter sharing startup acquired the Indian assets of Ofo, the Chinese dockless bike rental company.
4. Finablr, the Abu Dhabi-based payments and forex startup acquired the digital payment solution startup TimesofMoney from Network International.
5. MoMAGIC, a Delhi-based mobile platform marketing firm acquired 49 per cent additional equity in AdGyde which was earlier owned by Spice Mobility.
6. Mphasis, a Bengaluru-based IT Solutions provider acquired Stelligent Systems LLC, a US-based firm for $25 million.
7. FarEye, logistics management startup based in New Delhi acquired IoT startup Dipper Technologies which provides visibility and predictability in freight movement.
8. Lawyered, a Gurugram-based legal services startup acquired legal news platform InCourt News for an undisclosed amount.
9. Automobile platform based in Delhi CarToq acquired food tech startup Ketchupp for an undisclosed amount to scale its automobile OEMs.
Other Important Developments of the month
1. Vivo, the Chinese smartphone manufacturer is planning to invest around ₹4,000 crores in the Indian market to set up a new manufacturing plant. The firm will invest ₹800 crores initially and the new plant will be operational in the next one to one and a half years.
2. French utility company SUEZ, Bengaluru Water Supply and Sewage Board and Paris-based innovation hub NUMA entered into a partnership to launch DataCity Open Innovation Programme focused on solving challenges faced by global cities.
3. Shop101, the social e-commerce platform is in talks with venture capital arm of Unilever and Kalaari Capital among other investors to raise $10-12 million in fresh funding.
4. Aavishkaar Group, the impact investor based in India is planning to raise $300 million for its South Asia focused venture fund from several investors in Singapore, Japan, Australia and the United Kingdom.
5. Jeff Bezos’ led Amazon is in talks to acquire 9.5 per cent stake in Future Retail for $342 million. The deal is expected to announce after it received approval from the board. The deal will be completed via foreign portfolio investor route.
6. Shunwei Capital, the China-based venture firm raised $1.21 billion for its sixth fund focused on India. The total assets under management of the firm have grown to $3 billion across all funds.
7. The state government of Telangana will launch a prototyping centre T-Works for electronics and mechanical startups by April next year.
8. Venture Catalysts launched a new incubation centre in New Delhi, called “Venture Catalysts Let’sWork Global Startup Incubation Center” aimed at further bolstering its position as a leading platform for innovative startups to grow and access funds.
9. Gujarat-based Technology Business Incubator (TBI) iCreate signed Memorandum of Understanding (MoU) with BootUP Ventures and the University of Houston to leverage capabilities on both sides.
10. Swiggy may raise $300 million by selling secondary shares. The funding may go up to $900 million pushing food delivery startup’s valuation to $2.5 billion – $3 billion.
11. Anicut Capital, the Chennai-based investor received clearance from SEBI to launch its second fund of ₹700 crores. The firm is also looking to raise a total of ₹1,000 crores for its new fund named Grand Anicut Fund II.
12. Akshaypat Singhania, the Mumbai-based industrialist has planned to invest ₹100 crores in early stage Indian startups in the media and entertainment, lifestyle and F&B sector with cheque sizes between $2 to $4 million.
13. Home rental startup NestAway is in talks to raise $100 million. The Bengaluru-based startup may end up raising $150 million in December this year.
14. Invest India in partnership with SoftBank has launched Tech4Future, a challenge to identify the most promising AI, Machine Learning, Cyber Security and Face Recognition startups with a cash prize of $50,000.