Here’s an overview of the best boot space deals.
Bessemer Venture Partners closes $4.6 billion on two new funds and expands into growth-focused private equity
Venture capital (VC) firm Bessemer Venture Partners has closed $4.6 billion in new capital in two funds to support growth-stage startups in India and globally. The new capital spread across two funds – $3.85 billion for its twelfth flagship fund, BVP XII, and $780 million for its new fund BVP Forge, will allow the venture capital firm to support entrepreneurs and teams at all stages of growth, regardless of their maturity or structure. , according to one assertion.
Bessemer Venture Partners invests primarily in early-stage and growth-stage startups, through its current $2.475 billion BVP XI fund, its $825 million Century II growth fund, and its $220 million India fund. millions of dollars.
With the new funds, the San Francisco-based company is now looking to expand its flexibility to support growth buyouts with different liquidity, capital structure and operational support requirements.
According to the company, the BVP XII fund will focus on seed and early-stage investments in companies spanning enterprise, deep tech, fintech, consumer and healthcare. Meanwhile, BVP’s new $780 million Forge Fund is specifically designed for growth buyouts and large minority transactions in software and technology services companies.
Yulu Raises $82M in Series B Round Led by Magna International
Mobility startup Yulu has raised $82m in its Series B funding round led by Magna International, with participation from existing investors such as Bajaj Auto Limited.
The startup is also forming a new entity, Yulu Energy, with Magna, a mobility technology company, to create nationwide battery charging and swapping infrastructure. The infrastructure is expected to reduce the initial cost of purchasing electric vehicles and accelerate the adoption of electric mobility in India, according to a statement.
“Micro-mobility presents a great opportunity for additional growth for Magna, and partnering with Yulu helps us expand our business in this rapidly growing sector,” said Matteo Del Sorbo, Executive Vice President of Magna.
The company plans to invest the new capital in product and technology innovation and grow its electric vehicle (EV) fleet to more than a lakh of two-wheelers as well as 500 charging stations and battery exchange and more over the next 12 months.
“We can clearly see a 100x growth opportunity for Yulu in the BaaS and MaaS businesses over the next three to four years,” said Amit Gupta, co-founder and CEO of Yulu.
Beco pockets $3 million in Series A round led by Rukam Capital
Sustainable D2C brand Beco has raised $3 million in a Series A funding round led by Rukam Capital, with participation from investors including Priyavrata Mafatlal, Better Capital, Prashant Pittie and Titan Capital.
New angel investors including Bimal Parekh, Sweta Amrish Rau, Harish Narayanan, Rehan Shaikh, Shantanu Deshpande among others have also participated in the funding round.
According to the startup, the new capital will be used to acquire talent across all verticals to drive growth, R&D efforts (product innovation, development in sustainability), marketing and supply chain functions. .
The brand claims to have recorded a 5x increase in revenue in addition to several product and category launches over the past fiscal year. Recent launches include a new category of natural liquid cleaners with three new products, including liquids for dishes, floors and laundry.
Peer Robotics pockets $2.3 million in funding round from Kalaari Capital and others
Robotics startup Peer Robotics pocketed $2.3 million in its seed funding round led by Kalaari Capital and saw participation from existing investors Axilor Ventures, Connecticut Innovations and Innopact VC.
The startup offers robotic solutions to manufacturing companies in various sectors such as automotive, aerospace, manufacturing and machining, among others.
“Small and medium-sized businesses today are struggling with a labor shortage, not to mention high turnover. Additionally, many operations are still manual, with employees working at a high risk of injury and fatigue. Until now, the solutions were too expensive and complex,” said Rishabh Agarwal, co-founder and CEO of Peer Robotics.
Peer Robotics says it is part of the STANLEY+ Techstars Accelerator program portfolio. The robotic technology has been in research and development for a year at several manufacturing plants in the United States and India.
Medyseva raises Rs 15 Cr in pre-series funding round
Medyseva, a telemedicine healthcare startup, has raised Rs 15 crore in a pre-series funding round under AIC RNTU Bhopal’s Startup India Seed Fund scheme.
The round also saw the participation of angel investors such as Mohit Gulati, Mandar Joshi, Yamika Mehra, Ankita Vashistha, Aarti Gupta and Dr. Vivek Bindra.
“Currently, Medyseva has 20 clinics under its flagship model of Medyseva Kendras and we soon expect to build approximately 250 clinics by the end of this fiscal year. The telemedicine market has the maximum potential in the e-health segment in India. Medyseva is gradually progressing by increasing its presence in other states like UP, Rajasthan, Chhattisgarh, Assam and more. The world’s first clinic in Nepal will also be functional by October this year” , said Dr. Vishesh Kasliwal, founder and CEO of Medyseva.
Purple Style Labs secures Rs 10 Cr via Klub for geographic expansion
E-commerce platform Purple Style Labs (PSL) has raised Rs 10 crore in revenue-based funding through Klub. The company will use the new funds to expand its geographical presence across India, according to a statement.
PSL, which acquired Pernia’s pop-up store in 2018 after which designer Pernia Qureshi stepped down as the platform’s chief creative officer, has grown 50-fold over the past four years. The omnichannel platform sells over 1,000 designers, including Tarun Tahiliani, Anita Dongre, Rohit Bal, Ritu Kumar, Shyamal and Bhumika, Falguni Shane Peacock, Amit Aggarwal, Masaba and Anushree Reddy, among others.
“We are very focused on staying ahead of the game and leading the market by combining scale with conservation in a way the Indian market has never seen before. Our partnership with Klub will fuel growth in the Indian luxury retail space,” said Abhishek Agarwal, Founder of Purple Style Labs.