#WeekWrap: India Gets Its 25th Unicorn & Much More about the Indian Start-up Ecosystem
This week was a funding and investment dominated start-up week for the Indian business ecosystem
This week was a funding and investment dominated start-up week for the Indian business ecosystem. Here is everything about the Indian start-up ecosystem from the last week:
Druva Becomes the 25th Start-up to Join the Indian Unicorn Club
SaaS data protection provider start-up Druva entered the unicorn club after raising $130 million in a new round led by Viking Global Investors. Its valuation now stands over a billion. The company said that it will be using the investment to fuel growth and global expansion, as well as drive new product innovations.
SoftBank Eyes Investment in Curefit
SoftBank's investment game has just started and it will go farther than anybody's vision and comprehension. After investing in several Indian start-ups, grapevine has it that the Japanese Conglomerate is now eyeing health and wellness start-up Curefit for investment. According to reports, Curefit, which recently raised $75 million may join the unicorn club with this investment.
Mergers and acquisitions
In mergers and acquisitions this week-
Gurugram-based start-up Moneyloji announced the acquisition of Inblox Network Private Limited for $750,000. The fintech startup said that it will use Inblox's Blockchain expertise in governing loan processing and approval before disbursals of loans.
Mumbai-based IT services company Hexaware Technologies acquired US-based digital services firm Mobiquity for $182 million in an all cash deal. this acquisition will further help Hexaware to strengthen its Cloudify Everything and Customer Experience Transformation offerings.
Media start-up Dailyhunt acquired Local Play, a hyperlocal video content and news content application for an undisclosed amount. According to the company, the acquisition will help in boosting its hyperlocal presence and improve its offerings especially for users in Tier-2 cities and beyond.
After a long time, the funding section of the Indian start-up ecosystem saw action and big money rolling in the Indian start-up ecosystem. Notable funding included:
One of the biggest funding was raised by B2B fintech startup Razorpay , it raised $75 million in Series C round of funding. Its total valuation is over $100 million now.
Bounce, a scooter rental start-up, raised $72 million in fresh round of funding.
Vogo, another bike rental start-up raised an undisclosed amount.
Another start-up that grabbed the investors' eyeballs is Postman. The API development and collaboration platform raised $50 million in Series B round of funding.
This week saw smaller rounds of funding being raised by healthtech platform Practo ($17.2 mn), Ninjacart ($10 mn), Active.AI ($3 mn), Finwego ($1.7 mn) etc.
The newest obsession on the investor and consumer front is biryani and this is evident in the investments biryani start-ups are attracting. Joining the bandwagon is
healthtech platform Practo raised $17.2 Mn (INR 120 Cr ) from Trifecta Capital and other internal investors.
Alteria Capital, which claims to be India's largest venture debt fund, said to have invested $11.4 Mn (INR 80 Cr)
AI-focussed fintech startup Active.Ai raised $3 Mn from InnoCells, the Barcelona-based innovation hub and corporate venturing vehicle of Banco Sabadell in a Series A follow-on round. The biryani delivery start-up, Biryani By Kilo (BBK) secured $4.3 Mn (INR 30 Cr) in Series A round of funding led by IvyCap Ventures.