November has been a strong week in the funding and investment sector.
This week Indian Startups raised $98 Mn, which is almost 45% down from last week’s total funding of $186 Mn. Here are the top events that transpired this week-
1. Healthkart raises $65M funding from Temasek, A91 Partners
TrueBasics, HKVitals, bGreen, Nouriza, and MuscleBlaze are among the eight supplement brands owned by Healthkart.
Tata 1mg owns Temasek Holdings, and A91 Partners contributed nearly $65 million to Healthkart's funding round. This is the company's first funding round of the year.
Healthkart's board of directors approved a special resolution to issue 10 equity shares and 3,08,547 convertible preference shares for Rs 536.52 crore ($65 million) at an issue price of Rs 17,388 per share, according to regulatory filings.
2. HireQuotient, Motovolt and Fresh From Farm raise early rounds
Binny Bansal, Flipkart's co-founder, led an undisclosed funding round for Hirequotient, a Singapore-based skill assessment platform.
ReNew Power Chairman Sumant Sinha, Great Learning CEO Mohan Lakhamraju, Udaan Co-founder Sujeet Kumar, Cred Founder Kunal Shah, and other South East Asian and US investors invested $1.8 million in a pre-Seed round in December 2021.
The funds will be used to provide 360-degree hiring intelligence as well as to establish new global partnerships.
3. Koo raises over $6M led by Tiger Global, Accel Partners
Tiger Global and Accel Partners led a new round of funding for Koo App, which raised Rs 51.08 crore ($6.3 million).
Kalaari Capital, 3one4 Capital, and Dream Incubator (DI), a Tokyo-based private equity firm, also participated in the round. Entracker was the first to break the story.
Koo raised approximately $10 million in two tranches in February of this year from investors including Capsier Venture Partner, Ravi Modi Family Trust, Ashneer Grover, FBC Venture Partners, Adventz Finance, and others.
According to the report, Tiger Global and Accel Partners each contributed Rs 16.47 crore to the funding round.
Kalaari Capital and 3one4 Capital each contributed Rs 8.24 crore, while Dream Incubator contributed Rs 1.65 crore.
4. Fintech startup indiagold closes Series A funding at $22M
The fintech startup IndiaGold has raised $22 million in Series A funding.
Alpha Wave, 3one4 Capital, PayU, Leo Capital, Better Tomorrow Ventures, and Rainmatter Capital were among the investors.
The Series A round was divided into two parts: $12 million in July 2021 and $10 million in August 2022.
Throughout the country, Indiagold provides instant gold loans as well as secure gold locker services.
The fintech startup is developing a platform to enable efficient and responsible monetisation of household assets by connecting customers and financial service provider
5. D2C retail brand RapidBox raises $4.5M Series A funding led by SIG Venture Capital
Rapidbox, a Bengaluru-based direct-to-consumer (D2C) brand, has announced a $4.5 million Series A round of funding led by Susquehanna International Group's Asian venture capital arm, SIG Venture Capital.
RapidBox was established to fill a gap in the footwear industry by improving product quality and the consumer experience.
With an in-house line, the brand controls the manufacturing of goods, allowing it to run quality checks and monitor the entire supply chain. The low-cost retailer sells via its website as well as ecommerce platforms such as Flipkart and Myntra.
Other big deals
PoshVine, a provider of reward management solutions, has been acquired for an undisclosed sum by 'Razorpay,' a fintech unicorn startup.
Mahindra Logistics has acquired Rivigo's B2B express business.
Axis Bank has agreed to purchase a 9.94% stake in Go Digit Life Insurance for between INR 49.9 Cr and INR 69.9 Cr.
HCL Technologies has paid an undisclosed sum for a majority stake in GUVI, an edtech startup.
The American financial services conglomerate Visa has invested in M2P, a Bengaluru-based fintech startup.