Funding roundup – Swiggy hogs the limelight in the last week of May
The last week of May was interesting, in funding terms, as the world over there as a small push towards foodtech. There were reports that the US-based on-demand food startup Sprig might shut shop, but India and China saw a push towards food. Swiggy saw a fresh round of Series E funding led by Naspers and in China, Alibaba group invested a whopping $1 billion in the food startup Ele.me.
Apart from these, there were several smaller undisclosed rounds.
The startups that raised funding this week were:
Mutual funds investment platform Nivesh raises undisclosed funding
The mutual funds investment platform, Nivesh, raised an undisclosed Series B funding led by a group of HNIs and angels like Sandeep Shroff, CEO of Silicon Valley based MyStartupCFO, PV Sahad, Founder of The VCCircle network, Rahul Gupta, CEO of Right Global Infosolutions.
Collateral Medical raises $3.5mn in Series A funding led by Carpediem Capital
Online medical devices distributor Collateral Medical raised $3.5 million in a Series A investment from Carpediem Capital. The funds will be used to strengthen the company’s distribution capabilities and IT infrastructure as well as expand its service network.
Swiggy raises Series E funding of $80mn led by Naspers
Swiggy, the Bengaluru-based food-delivery platform, has raised $80 million in Series E funding led by Naspers. Existing investors Accel India, SAIF Partners, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners participated in this round of funding. The funding will primarily be used to grow Swiggy’s product and technology.
SastaSundar raises funding of $5mn led by Rohto Pharmaceutical
The investment by the Japan-based Rohto Pharma in healthcare platform SastaSundar gave it a 13 percent stake in the company. A report in The Economic Times suggests that with this round of funding SastaSundar will be focused on launching its operations across 12 states of the country.
Supr Daily raises $1.5mn from Great Oaks VC, others
Supr Daily, the subscription-based groceries startup, raised a funding of $1.5 million led by Great Oaks VC, Soma Capital and 122 West Ventures. The others who participated in this round include RedMart Founder Roger Egan, Jared Friedman and Paul Buchheit, partners, Y Combinator. With this round, the Supr Daily team intends to expand across Mumbai and start operations in other cities.
LoadShare raises undisclosed funding led by Matrix Partners
Logistics company LoadShare raised an undisclosed pre-Series A funding led by Matrix Partners. The fund is proposed to be used for hiring more engineering and operations talent.
Magicpin raises $7mn led by WaterBridge Ventures
Guragaon-based local discovery, rewards and commerce platform Magicpin raised $7 million in a Series-B round from Lightspeed India Partners, Waterbridge Ventures, and two global family offices. The round also saw participation from Srivatsan Rajan (Chairman, Bain and Co. India) and Sahil Barua (CEO of Delhivery).
The funds raised will be used to enhance the product, strengthen the leadership team, and to go deeper and wider across categories and geographies.
In another surprise move, Snapdeal saw an infusion of funds from Nexus and its founders Rohit Bansal and Kunal Bahl. What is interesting to note is that startups in sectors that were written off–like foodtech and groceries–seem to be going strong.
