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Here are The Big Startup Funding Deals Happened This February

In the past week, the Indian startups’ funding surged tremendously crossing over $318 million
BY Jaspreet Kaur
Feature Writer, BusinessEx
Feb 17,2020

With the onset of February, fewer funding deals happened in the Indian startup ecosystem. However, an inverse scenario was visible in the past week when the Indian startups’ funding surged tremendously crossing over $318 million,reported YourStory.

Last week, major debt fundings took place in the business sphere. An offering of $5 million was received by the Bengaluru-headquartered digital solutions firm, Innoviti from FMO, which is the Dutch Development Bank. Following this, the New Delhi-headquartered cafe chain, Chaayos garnered $3 million from Innoven Capital. 

Here is a the list of the Indian Startups that have got financially backed in past week. 

 

BYJU’s Funding Round

 

The Indian education technology unicorn, BYJU received an offering from the private equity company, General Atlantic in its latest funding round. The edtech startup has not revealed its funding sum. However, anonymous sources said that General Atlantic pumped nearly INR  1,420 crore ( as per then-foreign exchange) into the unicorn. 

Alongside this, the Mumbai-based adhesive manufacturing firm, Pidilite Industries made a $40 million bet on the online home furniture business, Pepperfry. The move is considered to be a strategic investment of Pidilite Industries, reported The Economic Times. 

 

Udaan’s Foremost Investment

Recently, business-to-business trading platform, Udaan has made its foremost investment by pumping INR 14 crore in PetPooja, a restaurant billing platform. The investment is looked upon as the company’s ambition to raise its fresh foods and vegetable supply business to SMEs ( small and medium enterprises). It is marked as the first investment (by Udaan) in the Indian startup, reported Inc42.

Following this, another startup funding happened in the agriculture technology sector. The Bengaluru-headquartered company, Clover Ventures has lately garnered INR 39.14 crore investment from VC firm, Omnivore. Other investment companies include Accel and Mayfield India, which also took part in the startup’s funding round, reported VC Circle.

Construction industry-focused, Brick&Bolt secured $1.5 million funding in a pre-series A funding round. Surge, a scale-up programme by Sequoia India, led the funding round of Brick&Bolt, which is administered PluckWalk Technologies Pvt Ltd. Other individual investors, who took part in the funding round, were Anuj Srivastava and Ramakant Sharma, Co-founders of Livspace, Navin Dhanuka of Piramal Fund Management, Meghna Agarwal of Indiqube and Aakash Goel of Trifecta Capital, reported Mint.

Edtech Startups’ Received Seed Funding 

In the past week, mobile operating system provider for private tutoring businesses, Classplus secured a pre-series A round of $2.5 million from Surge, Sequoia Capital India’s scale-up program, and Blume Ventures. Other investment companies in the funding round include Alvin Tse, General Manager at Xiaomi-Indonesia, Eric Kwan, Partner at Locus Ventures, and Kunal Shah, Founder at CRED and Freecharge, amongst others.

The Noida-based startup, through its mobile OS platform, decides to congregate a small fragmented market of private tutors by facilitating them in enabling communication, payments, and calibration.

Another API-enabled edtech startup enticed investors and in turn, received an offering. The Chennai-based firm, YAP got its first investment in the last week.

A group of angel investors--Amrish Rau along with Jitendra Gupta, founder at Jupiter, Vikram Chachra, entrepreneur-turned-Venture Capitalist at 8i Ventures,  Abhishant Pant, founder at FinTechMeetUp, Kunal Shah, founder of CRED and Pei-Fu Hsieh of Karbon contributed to INR 10 Crore funding round, according to the company’s official statement. The company plans to employ the amassed funds to increase growth and its team to improve new banking products.

CamCom’s Secured Investment

Triton Investment Advisors, a Mumbai-headquartered venture capital, pumped money in artificial intelligence and deeptech-based, CamCom. The VC  firm sowed money in CamCom’s pre-series A funding round, reported VC Circle. 

The startup states that it plans to become a top-notch firm in the quality assurance industry via its computer vision-based portal. According to its website, it utilises deeptech, as well as computer vision, to formulate automatic quality checks throughout a products’ lifecycle. 

It gives quality checks to several segments like supply chains in the bottling industry, after-sales service ecosystem and auto spare parts manufacturing niche.

Funding of  Hempstreet Medicare

Medical technology company, Hempstreet Medicare Pvt. Ltd garnered approximately INR 7.12 crore in its pre-Series A funding round. In essence, the company manages a cannabis research-to-retail venture. The US-headquartered pharma tech firm, Pharmacon Holdings, partaking with a cannabis-concentrated investor, Romain Barberis led the funding round of the startup, reported VC Circle. 

The company decides to employ the amassed sum to improve its carry out research and technology infrastructure.

The Bengaluru- and US-based startup, Esper Enterprises Inc raised INR 54.3 crore in a Series A funding round in the past week.  Madrona Venture Group led the funding round of the startup.

Other investment companies, who took part in the funding round, include Haystack Ventures, Pathbreaker Ventures, Root Ventures, and Ubiquity Ventures. All these investment firms are based in California, according to the above-cited media report.

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