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The Indian startup ecosystem raised $1.78 Bn in funding across 27 deals
Indian startup ecosystem saw emergence of two new unicorns, and four startups were acquired this week
Online pharmacy platform PharmEasy, online automobile marketplace Droom and edtech platform Veranda filed their DRHP with SEBI
Funding Galore
Every week, more than a dozen startup secure funding and many get acquired. In this weekly series, we bring the latest deals from the Indian startup ecosystem consolidated at a single page.
After a major dip in the investment last week, the Indian startup ecosystem has managed to mop $1.7 Bn in the second week of November. This week’s investment is 940% higher than the first week of November, when startups raised $171 Mn across 15 deals. This week’s investment is also 27% higher than the last week of October’s investment when the startup ecosystem raised $1.4 Bn across 56 deals.
Last week’s drop in funding can be attributed to Diwali, one of the major festivals celebrated countrywide.
In terms of the public markets, Vijay Shekhar Sharma-led Paytm went for the country’s largest biggest IPO worth INR 18,300 Cr and got a moderate response in the three days of the offer.
The week’s biggest funding was raised by edtech decacorn BYJU’s which raised $1.2 Bn in a term loan B (TLB) funding round.
The week’s second-biggest funding round was raised by D2C cosmetics platform MyGlamm which entered the unicorn club after raising $150 Mn in its Series D round. The week further saw the entry of fitness startup Curefit into the unicorn club after Zomato infused $50 Mn.
Here are all the funding rounds disclosed this week:
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Startup IPOs This Week:
Paytm Receives Moderate Response From Public Market
The INR 18,300 Cr initial public offering (IPO) of One 97 Communications, which runs fintech giant Paytm ended on Wednesday (November 10th). The offer was oversubscribed backed by a healthy response from institutional investors on Day 3.
The offer was subscribed 1.89 times, as bids were received for 9,14,09,844 shares, against a total of 4,83,89,422 on offer. Its shares are expected to be listed on the exchanges by November 15.
PharmEasy Files INR 6,250 Cr DRHP
API Holdings, the parent company of epharmacy unicorn PharmEasy has filed its draft red herring prospectus with market regulator SEBI. PharmEasy will be raising up to INR 6,250 Cr through a fresh issue of shares.
Droom Submits Paper For INR 3,000 Cr IPO
Online car marketplace platform Droom has filed its draft red herring prospectus to raise INR 3,000 Cr through the public market. The IPO offer include a fresh issue of shares worth up to INR 2,000 Cr and an offer for sale worth INR 1,000 Cr.
Online Learning Startup Veranda Learning Solutions Eyes For INR 200 Cr IPO
Veranda Learning Solutions has joined the queue of IPO-bound new-age digital companies in the country and has filed its draft red herring prospectus with SEBI in a bid to raise INR 200 Cr.
The proposed IPO consists of a fresh issue of shares. According to the DRHP, the company may consider a Pre-IPO placement of equity shares aggregating up to INR 50 Cr for cash consideration, prior to the filing of the Red Herring Prospectus.
From The Acquisition Desk
- Exotel has acquired Mumbai-based Cogno AI, an omnichannel cloud communication platform
- Two-wheeler EV rental platform eBikeGo acquired Kustard Technologies — a UI/UX design studio and app development company for $2 Mn.
- User engagement and retention cloud platform CleverTap has completed the acquisition of Patch. Patch allows brands/companies to include in-app voice, chat, and push notifications — directly into consumer apps.
- Thrasio-styled venture Evenflow has acquired sports and fitness brand Xtrim
Startup Funds This Week
- Early-stage venture fund Capital A has announced the launch of a fund with a proprietary corpus of $25 Mn.
- AI-driven video-processing startup Toch.ai has launched an INR 100 Cr startup fund to invest in audio and video technology startups across the world.
- A91 Partners has closed its second fund at $550 Mn (INR 4,095 Cr) and plans to invest in 15 to 17 established Indian companies or those with a presence in the country in sectors like consumer goods and services, financial services, healthcare and technology.
- Delhi NCR-based early-stage startup accelerator Huddle has announced its plans to invest INR 50 Cr in startups by 2022.
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