Unicorn with open towers; Zepto Raises $200 Million; Hike Secures Additional Funding for Rush Gaming Universe and Redcliffe Lifetech Bags $61 Million


Here is the list of the best boot space offers.

Open Transforms into a Unicorn, Raises $50M in Series D Funding Round

Neobank fintech startup Open has entered the unicorn club after raising $50 million in its IIFL Series D funding round with existing investors Temasek, Tiger Global and 3one4 Capital.

With this round, Open is now valued at $1 billion and plans to launch three new products – Open Flo, Open Settl and Open Capital targeting a disbursement of $1 billion over the next 12 months, the company said in a statement. communicated.

The funding will also help Open accelerate its existing Zwitch (integrated finance platform) and BankingStack (enterprise banking solution for banks) product lines, drive global expansion and reach more than 5 million customers worldwide. course of the next year.

Zepto raises $200m at a $900m valuation, to expand its 10-minute grocery delivery across India

Fast-trading startup Zepto pocketed $200 million in a Series D funding round led by Y Combinator’s Continuity fund, at a valuation of $900 million, bringing it one step closer to becoming a unicorn.

Y Combinator Continuity doubled down with a new investor – Kaiser Permanente, who also joined the company. All major existing investors, including Nexus Venture Partners, Glade Brook Capital and Lachy Groom, have also increased their investments.

Zepto will use the new capital to expand its 10-minute delivery service to more cities across the country and grow its network of dark stores. The company is also looking to grow the team to over 1,000 people within months and hire across all functions, including engineering, analytics, operations, marketing, finance and HR.

Hike secures additional funds for Rush Gaming Universe

Social platform Hike has raised an undisclosed amount in a funding round led by investor Web3 Jump Crypto. Tribe Capital and Republic Capital’s Republic Crypto were also part of the funding round.

The company will use the new capital to develop a unique product strategy in the Rush Gaming Universe (RGU) – a social gaming metaverse where gamers can play, compete and win. The funds will also be used to grow the team.” The platform claims that over the past 13 months, The Rush Gaming Universe has engaged with 160 million quarterly games and has 1.8 million active users. monthly (MAU).

Sequoia, Alpha Wave Global and Tiger Global invest $100 million in agritech startup Absolute

Plant bioscience company Absolute raised $100 million in recent funding rounds from Sequoia Capital India, Alpha Wave Global and Tiger Global.

Angel investors including Nadir Godrej, Chairman of Godrej Industries, Kamal Agrawal, Promoter of Haldirams, Sanjiv Rangrass, Head of R&D at ITC Group and Kunal Shah, Founder of CRED, also participated in the round.

The new capital will be used to strengthen its three core platforms – the Bioscience Research Platform, the Universal Farming System and the Global Commerce Platform, the company said in a statement.

JPIN launches strategic fund worth $150 million

The start-up investment bank JPIN has launched two strategic funds aimed at stimulating innovation around the world. Through the establishment of a $130 million JPIN Global Fund in the UK and a $20 million JPIN India Fund in India, the firm seeks to expand its network of global investors, connecting them to next-generation startups and small and medium-sized enterprises (SMEs).

With the $130 million Global Fund, JPIN aims to drive investment rounds by allocating its initial committed capital into start-ups from pre-Series A over a 3-year period. The remaining capital will be set aside to be deployed in subsequent rounds.

The fund will primarily focus on investing in the UK domestic market as well as emerging markets – Brazil, Colombia, Mexico, Nigeria, Kenya, Egypt, India, Indonesia, Vietnam.

Redcliffe Lifetech pockets $61 million from LeapFrog Investments

Diagnostics platform Redcliffe Lifetech has raised $61 million in a funding round led by LeapFrog Investments, with participation from Healthquad, Schroders, LC Nueva and Growth Spark Ventures.

Existing investors Chiratae Ventures and Alkemi Venture Partners also participated in the round. The startup will use the new capital to expand its low-cost D2C diagnostics in Tier 2, 3 and 4 cities. The funds will also be used to scale Redcliffe’s platform and increase its product offerings in the areas of radiology, disease data profiling and lifestyle management, the company said.

Traceable AI Raises $60M in Series B Funding Round, Valued at $450M

Cybersecurity startup Traceable AI has raised $60 million in its Series B funding led by Institutional Venture Partners (IVP).

Tiger Global Management and existing investors Unusual Ventures and BIG Labs also participated in the funding round. The new round brought the company’s valuation to $450 million.

Traceable AI plans to use the new funds to accelerate its next phase of growth by investing more in its product development and research efforts, expanding its sales and marketing teams, and expanding its global sales.

Dental tech startup Toothsi secures $40M in Series C

Dental tech startup Toothsi has raised $40m in Series C funding from leading global investment firm Eight Roads Ventures, Paramark, South Korea-based IIFL, and the family office of Medlife co-founders : Prashant Singh and Tushar Kumar.

The round also saw participation from existing investors Think Investments and the Mankekar family, as well as independent angel investors such as Aditya Puri, former managing director of HDFC Bank and Karan Singh, managing partner of the Indian offices of Bain & Company.

The company plans to use the funds to scale its technology platform and operations to ensure a seamless customer experience throughout the processing journey. It will also invest in robotic automation for manufacturing aligners.

GenWorks Health Secures Rs 135 Cr Funding in Latest Round

Healthcare start-up GenWorks has secured Rs 135 crore in a new funding round from Somerset Indus Capital Partners, Morgan Stanley through its funding arm Grand Vista, Evolvence and Wipro GE.

The startup is aiming to double its revenue in FY23 and the funding will be leveraged to cover working capital needs, mergers and acquisitions relevant to investing in manufacturing partnerships and expansion in the field of in vitro diagnostics.

Additionally, the freshly infused funds would be deployed to build “human capital” to enable rapid growth and create “platform participation,” the company added.

Parent company Startup Buddy announces real-time accelerator fund with Rs 100 Cr corpus

The parent company of the Gurugram-based startup, Buddy, Real Time Management Consultancy Services, has launched the “Real-Time Accelerator Fund” with a target corpus of Rs 100 crore. There is also a green shoe option of another Rs 100 crore, according to a statement.

“The fund is the next step in supporting startup founders through funding and mentorship. Manish Aggarwal will lead the fund as Managing Director and Pranay Mathur will be its CEO,” the statement said.

The fund would invest in 20 startups in a year with an average check size of Rs 1 crore. The fund will support the startup in its 10-week acceleration program. The targeted sectors will be fintech, web 3.0, D2C, SaaS B2B (software as a service), creator economy, electric vehicles and other emerging startups.

Fintech startup Kaleidofin raises another $15m in Series B

Fintech startup Kaleidofin has raised $15 million in its Series B funding round led by the Michael & Susan Dell Foundation.

The round also included participation from the Seattle-based Strategic Investment Fund of the Bill & Melinda Gates Foundation, angel investors and existing investors.

With this investment, Kaleidofin’s total fundraising to date stands at $23 million.

Tiger Global, Sequoia and others lead $15M Series A round at Toplyne

SaaS startup Toplyne has received $15 million in Series A funding led by Tiger Global and Sequoia Capital India. The round also saw participation from existing investors Together Fund, Sequoia India’s Surge and angel investors from Canva, Vercel and Zoominfo.

The new capital will be used aggressively to implement the product roadmap and scale the data science, engineering, product and design teams, the company said.

Internet service provider Excitel raises $11.5 million in equity

Internet service provider Excitel has raised $11.5 million in equity from existing and new investors based outside of Europe.

From a current subscriber base of 0.7 million, Excitel aims to grow its customer base to 10 million while expanding its operations to 100 cities by the end of 2022. With the funds raised, the startup will also make significant investments to improve its technology stack. as well as its customer experience, as well as its foray into new markets.

Evenflow, e-commerce rollup company, pockets $5 million in pre-Series A

Evenflow Brands, an e-commerce rollup, closed its $5 million pre-Series A led by Village Global, 9Unicorns, Venture Catalysts, LetsVenture and Shiprocket.

The round also saw the participation of high-profile angel investors such as Emil Michael (former Chief Commercial Officer of Uber), Vijay Shekhar Sharma (Founder and CEO, Paytm), Kunal Shah (Founder and CEO, CRED), Nimesh Kampani (co-founder and CEO @ Trica), Sandeep Varaganti (CEO of Marketplace Reliance Retail), Abhishek Nag (ex-director of BD @ Netflix), Sony Joy (ex-VP, Truecaller), MageHold (micro fund based in HK) , Moving Capital (Uber alumni union), MyAsiaVC and a few others.

“We have acquired 7 brands and launched two private labels and have managed to scale our brands steadily over the past 12 months. Our team is committed to transforming these fantastically built small businesses into everyday brands. said Utsav Agarwal, co-founder and CEO of Evenflow.

Mira Kapoor supports Wellbeing Nutrition and joins the brand as an investor

Mira Kapoor has joined Wellbeing Nutrition as an investor after injecting undisclosed capital into the organic, whole-food multivitamin nutrition brand.

Wellbeing Melters are strips of herbal, sugar-free oral vitamins and supplements, Mira Kapoor said.

Recently, the brand also partnered with Disney to launch an all-organic and natural line of vitamins, probiotics and omega for children around the world.


cnbctv18-forexlive-benzinga

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button