One of the biggest development of the week was online marketplace, Snapdeal acquiring Freecharge for over $450 Mn through cash and equity, which made this exit the biggest one in the Indian startup space (Flipkart acquired Myntra for over $300 Mn).
In total, the week saw 13 startups raising over $603 Mn in funding and 5 startups getting acquired.
Lets have a look at the startup fundings of the week:
Zomato: The restaurant and event-listing site raised about $50 Mn in a new round of funding. InfoEdge (India), which held 50.1% stake in the company, has brought in half of the total to retain its majority shareholding.
PressPlay: This Delhi-based bus travel entertainment startup, founded by two ex-Zomato Employees Anand Sinha and George Abraham, recently raised funding worth $2.2 Mn from Sequoia Capital and a group of angel investors in pre-series A round. These funds will be used in improving services, new products innovations and in hiring new talent. The company has tied up with over 8 state transport operators of Rajasthan, Karnataka, Andhra Pradesh, and Himachal Pradesh and over 50 private operators.