Here’s a look at the best deals in the startup world.
Softbank and Tencent invest in CARS24, valuation nearly doubled to $ 1.84 billion
The used car market CARS24 raised $ 450 million in its last funding round through a combination of debt and equity.
It has raised $ 340 million in Series F funding led by DST Global, Falcon Edge Capital and SoftBank Vision Fund 2 for a valuation of $ 1.84 billion. Tencent and existing investors Moore Strategic Ventures and Exor Seeds attended. In addition, it has raised $ 110 million in debt financing from diversified financial institutions.
CARS24 plans to use the funds to expand its global presence and further develop its vehicle finance business in India.
The funding comes just months after CARS24’s expansion to the United Arab Emirates and Australia. The company claims to have sold more than 1,000 cars in the United Arab Emirates since it started operations in April this year. It officially announced its launch in Australia with a new campaign last week.
Tiger Global Leads $ 35 Million Series B Funding in Deep Vision AI Startup
Semiconductor startup AI Deep Vision has raised $ 35 million in a Series B funding round led by Tiger Global. Series A investors Exfinity Venture Partners, SiliconMotion and Western Digital also participated in the round.
Combined with existing revenue streams, the proceeds from the funding will help Deep Vision expand the capabilities of its AI processor and software tools and support its rapidly growing customer base, the company said. It plans to expand into advanced computer applications for video analysis and natural language processing.
FloBiz Raises $ 31 Million in Series B Financing, Plans to Offer Financial Services to Small Businesses
FloBiz, a startup that helps digitize invoicing, accounting and workflow for small businesses, raised $ 31 million in a Series B round led by Sequoia Capital India and Think Investments as it is preparing its entry into financial services.
Existing investors Elevation Capital & Beenext participated with 9Unicorns and Whiteboard Capital. Angel investors include Vijay Shekhar Sharma (Paytm), Kunal Shah (CRED), Jiten Gupta (Jupiter), Amrish Rau (Pine Labs), Neeraj Arora (HalloApp), Nitin Gupta (Uni Cards), Ankit Tomar (Bizongo), Sayali Karanjkar (PaySense) and Krishnan Menon (BukuKas).
The new capital will be deployed for team expansion, product development and large-scale distribution. FloBiz will also focus on building additional technical capacity within the organization as it prepares to offer financial services to small businesses in India.
Design Cafe Raises $ 25 Million in Extended Series B Funding Round
Interior design startup Design Cafe has raised $ 25 million in an extended Series B funding round led by Westbridge Capital and Sixth Sense Ventures. Early-stage investor Fireside Ventures also participated in this round with a few family offices.
The company will use the capital to expand its presence in India and plans to have a presence in India’s top 10 cities over the next 18 months. It currently has operations in Bengaluru, Mumbai and Hyderabad with new centers being launched in Chennai and Thane.
Design Cafe is targeting a gross annual order reservation rate of Rs 600-700 crore over the next 2 years, according to the company’s statement.
Klub secures Rs 20 Cr debt from Trifecta Capital, with emphasis on helping digital brands
Income-based funding platform Klub raised Rs 20 crore from Trifecta Capital.
The startup will use the funds to evolve technology, products and assets under management. Additionally, the funding is expected to strengthen the partnership between Klub and Trifecta Capital as they seek to support digitally-focused businesses, according to the company’s statement.
Trifecta provides risky debt to growing startups, usually in conjunction with equity, while Klub provides capital for repeated ROI expenses like marketing, inventory, and capital spending for brands. digital in direct-to-consumer markets and online.
So far, Klub has facilitated flexible capital for over 100 companies in the D2C consumer ecosystem, online and omnichannel.
Klub recently announced the closing of its $ 20 million funding round, which included venture capital debt from Trifecta Capital.
ePayLater Raises $ 10 Million to Expand Operations
Fintech start-up ePayLater has raised $ 10 million from Zurich-based Responsibility Investments AG, Blue Ashva Capital, Pravega Ventures and others, according to an Economic Times report.
The platform allows small businesses to receive 14-day interest-free credit to source inventory from sellers. So far he claims to have disbursed over Rs 1,000 crore. It plans to use the new capital to expand its reach and product line, according to the report.
Mobility startup Tummoc secures seed funding for foray into new Indian cities
Bengaluru-based mobility startup Tummoc has raised $ 540,000 in seed funding from angel investors. The round was led by leading angel investors, Vineet Singh (founder of HMPL Consulting), Krishna D (head of software development) Amazon, Deependra Bisht (strategy and operations) Google and Alan Aim (founder of Right Buy U, UK).
Founded in 2016, Tummoc provides real-time information about public transport in a city. It helps users to find the fastest and cheapest route with estimated cost of travel from source to destination. It claims to have facilitated more than 120,000 trips since its inception.
The company aims to use the funds for product development, team building and technology improvement. In addition, the new capital will give a boost to the startup’s plans to launch its services in 10 major Indian cities by the end of 2021.
Bluepad secures pre-seed funding from Titan Capital and AngelList syndicate
Bluepad, a one-stop solution for aggregated written content in vernacular languages, has raised Rs 1.8 crore ($ 245,000) in pre-seed funding from Titan Capital and the AngelList syndicate.
The start-up will use the funds to expand the team and build technological capabilities, such as improving the recommendation engine and making it easier to find content on the platform.
Founded in 2020, Bluepad is a content platform for Indian users to read and post their own written content such as blogs, poems, stories, experiences in Indian vernacular languages. It positions itself as the “medium” for the non-English speaking population in India. He is currently focusing on Marathi with future plans to open the platform in other vernaculars.
Since its launch, around 15,000 pieces of content have been published by users on the platform.