After a somewhat slower and quieter November, the first week of December saw funding activity shot up to level seen in mid-October.
The week ended Friday saw a total funding amount of $262.1 million across 18 deals. The week saw a total of 11 early stage deals accounting for $48.1 million of the total funding amount, and two late-stage deal grabbing around $100 million together. However, the major draw of the week was ride-hailing major Grab investing over $100 million in hospitality chain startup, Oyo, leading the unicorn to corner 40 percent of the total funding amount of this week.
The deal of the week: Oyo
Oyo raising funds this week from Singapore based Grab is part of the ongoing $1 billion funding that the company is currently raising from SoftBank and others. An investment by Grab into OYO (both the companies count SoftBank as one of their primary investors), comes close on the heels of Oyo announcing recently of the launch of its operations in Indonesia.
Nine early stage deals:
1 – Cupertino based intelligent integration and automation platform, Workato, raised $25 million in a Series B funding round that was participated by Battery Ventures, Storm Ventures, ServiceNow and Workday Ventures. The company, which also has an office in Chennai is led by CEO and co-founder, Vijay Tella. The company has raised a total of $41million funding till date.
2 – California and Bengaluru based marketing cloud platform MoEngage raised $9 million in a Series B funding round led by Matrix Partners and Ventureast. The startup which was founded 2014, helps clients-companies channelize marketing efforts and campaigns to potential customers via email, in-app messaging, SMS and web push notifications. The company plans to use the fresh funding to expand its global presence and strengthen its data science capabilities.
3 – Bengaluru based facilities management startup, Facilio announced that it has raised $6.4 million in Series A funding, in a round led by Tiger Global and existing investor Accel Partners. The startup offers facilities optimisation using artificial intelligence and internet of things. The funds raised will help the team to pursue their expansion and consolidation plans and will be used for R&D for product innovation.
4 – Gurugram-based BuildSupply raised $3.5 million (around Rs 25 crore at current exchange rates) in a Series A round of funding led by investment firm Venture Highway. The startup which offers an enterprise resource planning (ERP) system for the real estate and construction industry, said it will primarily use the fresh capital to expand its market.
5 – Indore based B2B platform, ShopKirana raised $2 million in its Pre-series A round from Info Edge, the parent company of job portal Naukri. Akatsuki Entertainment Technology Fund (AET Fund), the investment fund of Japanese entertainment company Akatsuki Inc., Incubate Fund, seed investment firm, and Better Capital AngelList syndicate participated in the funding round. The startup will use the money to expand operations to 10 more cities in the coming year.
6 – New Jersey-based conversational intelligence platform for sales and marketing, WhizAI which also has an office in Pune raised $1.1M in its seed funding round. The round was led by Trigyn Technologies, Inc (Wholly Owned Subsidiary of Trigyn Technologies Limited, a company listed on BSE and NSE). The company plans to use the funds to enter the Life Sciences and Financial verticals and expand its tech team.
7 – Chennai based health-tech startup, Any Time Doctor, raised an undisclosed amount in its Pre-Series A round from Mumbai based surgical oncologist, Ramakant Deshpande. The startup was founded in 2017 by A Vasanthakumar Arumugam.
Two other startups – Mumbai based travel tech, Guiddoo and Nagpur based e-com startup, Nagpur Wholesale – raised $0.8 million and 0.14 million, respectively in their Pre-Series rounds. Noida based digital learning platform, LearnApp raised $2,81,000 from fintech startup incubator, Rainmatter. Similarly, Gurugram based sports consultant and organiser Tabono Sports and Events raised an undisclosed amount in Pre-Series A round from Inflection Point Ventures.
Two late-stage funding (Series E):
1 – Delhi-based non-banking financial company and microfinance institution Fusion Microfinance has closed Series E funding of Rs 520 crore ($73.7 million) in a round led by private equity firm Warburg Pincus. The investment round includes both a primary fund raise and secondary sale by early-stage investors Incofin, NMI, SIDBI and BIO. Existing investor Creation Investment also participated in this round.
2 – Sansan Inc., the parent company of Eight app, the largest business card organiser and professional social networking platform of Japan, raised $26.43 million in its Series E round. The funding was led by Japan Post Capital, T. Rowe Price, SBI Investment and DCM Ventures. SBI Investment, a subsidiary of SBI Holdings, participated in this round through its AI and Blockchain Fund. Launched in India in November 2017, Eight app is planning to use this funds to further expand its India’s presence.
Online classified portal, Quikr raised $8 million venture debt from InnoVen Capital. The company plans to use the fresh capital to scale its transaction business. Founded in 2008 by Pranay Chulet and Jiby Thomas, Quikr has so far raised funds from investors like Tiger Global Management, Kinnevik AB, Warburg Pincus, Matrix Partners, Norwest Venture Partners, eBay, Nokia Growth Partners and Omidyar Network.
The notable exit this month came when Zomato this week acquired Lucknow-based TechEagle Innovations, a startup that works exclusively on drones. Post this acquisition, Zomato aims to create and use technology that will enable a multi-rotor drone, which can be used for hub-to-hub deliveries. The details of the deal were not disclosed. Another exit was seen when EbixCash, the Indian unit of Ebix Inc — a supplier of enterprise software and ecommerce services announced this week of it acquiring 70 percent stake in Noida-based AHA Taxis, a platform for on-demand intercity cabs, for an undisclosed amount.
Gurugram-headquartered auto parts marketplace, Boodmo, founded by two Ukranian–Yevgen Sokolnikov and Oleksandr Danylenko–raised $0.9 million from an undisclosed Ukrainian private investment fund. Listed e-commerce firm Infibeam invested in Mumbai-based digital payments tech firm Go Payments. It put in $0.85 million into the fintech company. Sauce and dip maker Vivan Foods Private Ltd, that runs under the brand name, Fric Bergen, raised an undisclosed amount from Mumbai Angels Network this week.
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