SUMMARY
Gurugram-based hospitality unicorn OYO has raised $806.75 Mn funding
Curefit has raised $115 Mn from Temasek
Urban Company has acquired Australia-based on-demand beauty service provider Glamazon
Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
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.
We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!
In one of the biggest funding round this week, Gurugram-based hospitality unicorn OYO has raised $806.75 Mn funding from existing investors SoftBank and founder Ritesh Agarwal owned RA Hospitality Holdings. The investment is the first tranche of $1.5 Bn Series F round, which was announced in October 2019.
According to the ministry of corporate affairs (MCA) filings accessed by Inc42, OYO has raised $506.75 Mn from SoftBank’s Cayman Islands-based subsidiary SVF Holdings. On the other hand, RA Hospitality Holdings has invested $300 Mn in the hospitality giant.
Apart from this, 13 startups raised around $148.39 Mn funding and one startup acquisition took place in the Indian startup ecosystem this week. (This funding report is based on startups that disclosed funding amount.)
Indian Startup Funding Of The Week
- OYO: $806.75 Mn
- Curefit: $115 Mn
- CoreStack: $8.5 Mn
- SmartCoin: $7 Mn
- Peel-Works: $4.1 Mn
- Craftsvilla: $3.94
- Agnikul: $3.1 Mn
- ZunRoof: $3 Mn
- Fintso: $2.6 Mn
- Unbox Robotics: $550K
- ImStrong: $400K
- Design X: $200K
- Khatabook: Undisclosed
- Nimesa Technology: Undisclosed
- CoreStack
- SmartCoin
- Peel-Works
- Craftsvilla
- Agnikul
- ZunRoof
- Fintso
- StanPlus
- Unbox Robotics
- ImStrong
- Driftly Electric
- Design X
Industrial IoT startup Design X has raised a $200K seed funding round led by Modulor Capital‘s investment vehicle ThinkNext LLC. The company plans to use the funds to focus on building a comprehensive industrial internet of things (IIoT) software portfolio.
- Khatabook
- Nimesa Technology
Bengaluru-based SaaS provider Nimesa Technology has raised an undisclosed amount in a funding round from Ideaspring capital. The startup claims that it has developed a cloud-native data protection software which improves Recovery time by multifold.
- Curefit
Indian Startup Acquisition Of The Week
- Gurugram-based hyperlocal services provider Urban Company has acquired Australia-based on-demand beauty service provider Glamazon as a part of the company’s international expansion plans for an undisclosed amount. The acquisition comes just six-months after Urban Company entered the Australian market and is expected to help the company to grow a stronger foothold in the country.
Other Developments Of The Week
- Social media giant Facebook is offering $100Mn in cash grants and ad credits to help small businesses during coronavirus pandemic. Facebook said the grants will be available for up to 30,000 eligible small businesses in over 30 countries.
- US-based early-stage accelerator Y Combinator has released the list of startups in its winter batch of 2020. This year, Y Combinator shortlisted 24 Indian startups to be a part of its three-month-long accelerator programme, almost doubling the number from 14 Indian startups in the summer batch of 2019. Able Jobs, Breathe Well-Being, Chutney, DeepSource, Easyplan, EduRev, Farm Theory, GIGI Benefits, goDutch, HelpNow, Kosh, Loop Health, Morphle, NearPe, PillarPlus, Spenny, StayQrious, Synapsica Healthcare, TagMango, Thunderpod, UrbanKisaan, yBANQ, ZeFi, and Zeo Auto are the selected startups.
- Cryptocurrency exchange platform Binance has set up a $50 Mn fund for blockchain technology in India. The ‘Blockchain for India’ fund plans to invest an average ticket size of $100K to $5 Mn per startup through cryptocurrency — Binance Coin, Binance USD and WRX coins.
- With over 200 ongoing cases of coronavirus and two deaths because of the deadly coronavirus, the government has realised the need to open up the search for solutions to the startup ecosystem with the ‘Covid-19 Solution Challenge’.
- Chennai-based online enterprise debt platform Vivriti Capital has raised $50 Mn in its Series B funding from LGT Lightstone’s India focussed investment platform LGT Lightstone Aspada.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.