Weekly Funding Roundup – India
Rapido raises $180 mn at $830 mn valuation in funding round led by Swiggy
Bike taxi platform Rapido, has raised $180 million in its latest Series D round. Led by new investor Swiggy, the round also saw investment from TVS Motor Company, along with existing investors, Westbridge, Shell Ventures, and Nexus Ventures, partaking in the fundraise. The company’s valuation after the fundraise is $830 million.
The funds would be leveraged to bolster Rapido’s technology, amplify and strengthen its teams across diverse sets of capabilities, increase overall supply to create an enhanced consumer experience across a larger audience base in metros, tier 1, 2, and 3 cities, and ensure a seamless last-mile connectivity.
Medikabazaar raises $65 million in funding led by Lighthouse India Fund
Medikabazaar has raised $65 million in a new funding round led by Lighthouse India Fund, valuing the business-to-business (B2B) medical supply platform at $700 million.
The company said it will use the funds to strengthen its technological capabilities, deepen the supply ecosystem and digital-driven distribution channels, bolster digital operating capabilities to help improve efficiency of the healthcare sector in India and expand its global operations.
Also read: Weekly Funding Updates – India (Apr 02 – Apr 08)
LimeChat raises $4.2 million in funding led by Stellaris Venture Partners
LimeChat, which offers an artificial intelligence (AI)-powered chatbot, has raised $4.2 million in a funding round led by Stellaris Venture Partners, with participation from Pi Ventures, Titan Capital, and marquee angel investors.
Nikhil Gupta, cofounder of LimeChat, said, ‘’Despite spending a lot of energy, human resources and capital, some stellar brands miss out on delivering quality customer experience and support. Our growing client base stands testimony to the impact we have been able to generate for businesses.”
Edtech Startup Newton School Bags $24.7 Mn From Steadview, Nexus
Edtech startup Newton School has closed around $24.7 Mn fresh round of funding led by its new investor – Steadview Capital. RTP Global, SAMA Trust, and Nexus Partners also participated in the round.
Home Interiors Ecommerce Marketplace YOUKRAFT Secures $10 Mn Funding For Pan India Expansion
Home interiors and construction ecommerce marketplace YOUKRAFT has secured $10 Mn in seed funding from the Goel Family Office including Manav Goel, founder and CEO of YOUKRAFT. While the YOUKRAFT app, that will cater to the construction and interiors industry, will be released in Bengaluru first, Goel expects it to become a pan-India brand by end of 2022 or early 2023.
The platform looks to strengthen its team and technological capabilities, with a focus to expand its footprint across various cities.
Medfin gets $15Mn Series B backing to help consumers find affordable surgery options in India
While healthtech startups took a chunk of the investment capital in past couple of years or so, majority of it has been directed towards digital healthcare delivery platforms. Healthtech startups, dealing in more critical healthcare systems — surgeries for that matter — have now come into prominence, with the likes of Pristyn Care turning unicorn. Medfin, another healthtech that functions as a digital platform for finding affordable surgeries across India, is joining the fundraising bandwagon, as it announces a $15Mn Series B.
The round saw participation from Arka Nxt, HealthXCapital (Singapore), Blume Ventures, Axilor Ventures, Sony and Kotak Investments. Medfin has previously raised $4Mn in combined seed and angel rounds.
PhableCare Raises INR 187 Cr (USD 25 M) in Series B Funding
Bengaluru-based chronic disease management startup Phable announced that it has raised a Series B funding of Rs 187 crore ($25 million) within one year of raising Series A. The round was led by Kalaari Capital with participation from Aflac Ventures, Digital Horizon and Stride Ventures. Existing investors Omron Ventures, SOSV, Social Starts, and Fresco Capital also participated in the round.
The funding raised will be used to strengthen the full-stack and value-driven chronic care ecosystem, accelerate market expansion, customer acquisition and build new revenue streams. This funding round marks a 6X jump in PhableCare’s valuation within a short time.
SaaS-based travel startup ITILITE raises $29M in Series C round
ITILITE a software-as-a-service (SaaS) travel and expense management platform, has raised $29 million in Series C round led by Tiger Global and Dharana Capital. Existing investors Matrix Partners India and Tenacity Ventures also participated in the round.
ITILITE will use the capital to invest more in product innovations, brand building, and scaling up its go-to-market teams, it said in a release. With the latest fundraise, ITILITE accelerate go-to-market journey and deepen our large company relationships.
Fintech firm MyShubhLife pockets Rs 100 cr in Series B round
Datasigns Technologies Pvt Ltd, which runs financial services platform MyShubhLife (formerly Shubh Loans), said it has raised Rs 100 crore (around $13.1 million) in a Series B funding from Gojo & Company, Inc.
The startup plans to deploy the fresh capital to further expand its footprint with more corporate and large platform partnerships, invest in technology and boost its talent pool.
