Funding roundup: bigger rounds make the buzz in the first week of August
The first week of August seems to have opened the world to larger deal sizes. The largest chunk of funding was grabbed by the likes of Lendingkart and Pi Datacentres, the Andhra-Pradesh-based cloud service startup. Between them, they raised a $100 million.
The larger deal sizes and rounds suggest that healthcare and cloud are two sectors that seem to be gaining investor attention and focus. And this was clear in the investments made towards the end of the first half of the year.
Srinivas Vudayagiri of PE firm Peepul Capital believes that this year, the focus will begin to shift more towards healthcare. After Paras Healthcare last week, 1mg raised additional Series C funding. This week, Plasma BioSciences raised funding of $25 million.
The startups that raised funding this week include, in no particular order:
Lendingkart raises debt equity of $10 million from Tata Capital, Aditya Birla Financial Services and Kotak Investment Bank
Lendingkart Finance, the SME lending startup, raised $10 million (Rs 67 crore) debt fund from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions.
According to the company, the funds will be used to re-stock their loan book as they reach over 700 cities across the country. This means that the funds raised from this round will be used as lending capital to SMEs.
The team claims to have disbursed close to 12,000 loans till now across more than 9,500 SMEs in 23 diverse sectors.
Pi Datacenters raises Series-B funding of $90 million
According to several media reports, Pi Datacentres raised $90 million funding from existing and new investors. The investor details remain undisclosed. The funding is believed to be used to support the second phase of the Pi Amaravati facility. A portion of the funding is also said to be used for the construction of data centres in Kochi and Naya Raipur.
PlasmaGen raises $25 million in venture funding
Bengaluru-based biopharmaceutical company PlasmaGen BioSciences Private Limited announced having raised an investment of close to $25 million in a round led by Eight Roads Ventures India (the proprietary investment arm of Fidelity International Limited) with participation from US-based F-Prime Capital Partners and the founders.
The funding round will be used to expand their product portfolio, look at deeper market penetration and opportunities to strengthen their current product supply chain.
SpeedBox raises funding of $300,000
The on-demand logistics firm raised funding of $300,000 from Mumbai-based logistics firm Cismat Cargo. The funds will primarily be used to expand SpeedBox’s presence across different geographies. The startup is present in a few cities of Malaysia and eight Indian cities.
Click2Clinic raises funding of $850,000
Click2Clinic, the healthcare service aggregator, has raised seed funding of $850,000. The funding was raised from a group of US and Malaysia-based angel investors. After the funding, the platform also acquired Wellness Home Healthcare.