[Funding Roundup] SoftBank Vision Fund makes second bet in two months; fintech remains investors’ favourite baby
SoftBank Vision Fund, the world’s largest pool of private capital, placed its second major bet on an Indian startup in a span of two months with its investment in OYO Rooms. The $250-million funding has taken OYO’s valuation from $460 million in August last year to between $850 million and $900 million.
Apart from OYO, the week was driven by fintech investments. Lendingkart, CreditVidya and Aye Finance are some of the fintech startups that raised funds this week, indicting investors continue to bet big on fintech.
Those in the healthcare segment, as also TailsLife and Ecotrail, raised funds this week.
Aye Finance raises $7 million led by Triodos Investment Management
Having raised $12 million in debt from Impact Investment Manager and Blue Orchard in May this year, Aye Finance has raised another $7 million through an issue of non-convertible debentures to Triodos Investment Management. IFMR Capital facilitated the issuance. Business loan provider Aye Finance lends to micro and small enterprises, and will use the additional funds to increase its asset book and bolster expansion.
CreditVidya raises $5 million Series B funding led by Matrix Partners
B2B fintech platform CreditVidya has raised $5 million in a second round of funding led by Matrix Partners. Existing investor Kalaari Capital also participated in the funding. Between last year and this year, the total funding raised by CreditVidya stands at $11 million.
LendingKart raises $10.5 million led by Sistema Asia Fund
SME lending startup Lendingkart Technologies announced it has raised Rs 70 crore (around $10.51 million) as part of a Series C funding from Singapore-based Sistema Asia Fund. Current investors Bertelsmann India Investment, Mayfield India, Saama Capital, India Quotient and Darrin Capital Management also participated in the latest funding round.
Power3SME raises $10 million Series E funding led by International Finance Corporation
Gurgaon-based B2B online marketplace Power2SME raised $10 million from the International Finance Corporation (IFC), a member of the World Bank Group. Power2SME helps small and medium enterprises buy raw materials at bulk prices and get working capital without collateral. The five-year-old startup had earlier raised around $35 million in four rounds from Kalaari Capital, Accel Partners, Inventus Capital, and from Nandan Nilekani, who is also a strategic advisor.
OncoStem Diagnostics raises $6 million Series A funding led by Sequoia Capital
OncoStem Diagnostics raised $6 million in a funding round led by Sequoia Capital. Existing investor Artiman Ventures also participated in the funding round. OncoStem will use the funds to deepen its R&D efforts, develop effective tests for oral, brain and colon cancer, and automate these tests.
Oyo raises funding of $250 million led by SoftBank Vision Fund
Gurgaon-based hospitality platform OYO, raised Series D funding of $250 million led by SoftBank through SoftBank Vision Fund. Existing investors Lightspeed Ventures, Greenoaks Capital, and Sequoia India participated in this round. Hero Enterprise also joined this round as an investor.