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SUMMARY
The Indian startup ecosystem has raised around $165 Mn across 25 deals between August 1 and 6, 2022
The week saw Nykaa announcing its acquisition of Little Black Book (LBB) to sharpen its position as a discovery-led retailer
Binance CEO Changpeng Zhao denied owning Indian crypto exchange WazirX and said Binance only provides wallet services to WazirX
The beginning of the month of August had a relatively good start if we compare it with the previous week’s startup funding numbers. The week between August 1 and 6, saw the startup ecosystem raising $165 Mn funding across 25 deals. This is a 40% jump than the previous week when the Indian startups raised $118 Mn across 24 deals.
Further, the week did not witness any mega round or any new unicorn being minted.
Most active investors of this week were ah! Ventures, Blume Ventures, and Titan Capital as they had invested in three startups each.
The Indian Startup Funding Deals Of The Week
Updates On Indian Startup IPOs
Infurnia Holdings Filed DRHP To Raise INR 38.2 Cr Via IPO
Cloud-based architectural design software startup Infurnia Holdings earlier this week filed its draft red herring prospectus (DRHP) with the market regulator Securities and Exchanges Board of India (SEBI). The startup intends to raise INR 38.2 Cr via its initial public offering (IPO).
The IPO offer will not include any offloading component and will be listed on the BSE Startups platform.
From The Startup Acquisition Desk
- Ecommerce giant Nykaa is set to acquire Little Black Book (LBB) to sharpen its position as a discovery-led retailer
- Edtech startup upGrad acquired test-preparation startup Exampur in an undisclosed investment deal
- ICICIdirect acquired web and app-based investment content community startup Multipie from its parent company Vartul Solutions.
Other Developments From The Indian Startup Ecosystem
- Uber has exited Zomato in a block sale of 612 Mn shares, in a deal worth $392 Mn (INR 3,095 Cr), with almost 2X return on investment
- Tiger Global has sold 184,451,928 equity shares of Zomato from July 25 to August 2, 2022, at a share price of INR 50.44 apiece. This means, the US-based hedge fund has sold INR 930.3 Cr ($116 Mn) worth of shares
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