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SUMMARY
The Indian startup ecosystem raised $1.8 Bn in funding across 38 deals
Indian startup ecosystem witnessed emergence of NoBroker and Spinny as new entrants to the unicorn club
Dream Sports, the parent company of Dream 11 picked up the largest cheque worth $840 Mn at a $8 Bn valuation
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 significant drop in the investment last week, the Indian startup ecosystem has managed to end the month of November on a higher note. This week, the startup ecosystem saw investment flowing in worth of $1.8 Bn across 38 deals. This week’s investment is 325% higher than last week of November where the ecosystem mopped up $400 Mn across 26 deals and a 6.4% higher than the week prior when Indian startups raised $1.7 Bn in total.
The week saw the rise of two new unicorns-NoBroker and Spinny. Nobroker raised $210 Mn in its Series E from General Atlantic, Tiger Global, and Moore Strategic Ventures at a valuation of over a billion dollars. Gurugram-based used car marketplace Spinny picked up $248 Mn from Tiger Global, Abu Dhabi Growth Fund, and Avenir Growth.
The week’s largest investment was from Dream Sports, the parent company of fantasy sports platform Dream 11. The startup picked up $840 Mn at a $8 Bn valuation from Falcon Edge, DST Global, D1 Capital, Redbird Capital, Tiger Global, TPG, and Footpath Ventures, among others.
Here are all the funding rounds disclosed this week:
Startup IPOs This Week
RateGain Gets SEBI Nod For IPO, Aims To Raise INR 400 Cr Via Fresh Issue
The Noida-based travel and hospitality software-as-a-service (SaaS) startup filed its draft red herring prospectus (DRHP) in August 2021. Its offer includes a fresh issue worth up to INR 400 Cr and an offer for sale (OFS) of up to 22,605,530 shares.
From The Acquisition Desk
- Delhi-based telemedicine company AkosMD has acquired a 72% stake in medicine delivery startup mChemist Global for an undisclosed amount.
- Thrasio-style venture GlobalBees has acquired majority stake in Healthyhey, Rey Naturals, and Intellilens
- UNext Learning, the Manipal Group-backed edtech learning organisation has acquired Jigsaw Academy.
Startup Funds This Week
- Early stage venture capital WaterBridge Ventures has marked the final close of its second fund at $150 Mn
- Mumbai-based early-stage venture capital Blume Ventures has raised $105 Mn, making the first close for its fourth India-dedicated fund
- Winzo Games in association with Kalaari Capital has launched Gaming Lab to encourage and support India’s gaming ecosystem
- Eximius Ventures has launched student venture partner program to support student-led startups with allocation of up to $500K
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