Later stage rounds and Ola roping in Tencent with $400M funding dominated this week's funding roundup
This week the focus was on later stage and PE rounds. While smaller rounds like Elanic, Oorjan and CollPoll too were present, it was the rounds by Ola, Yaantra and Zefo that grabbed eyeballs. This week, YourStory also raised a followup round of $6 million led by UC-RNT, Kalaari Capital, 3one4 Capital, and Qualcomm Ventures.
Last week, it was reported that Ola had raised $2 billion in funding from Softbank, this week it has grabbed another $400 mn.
The key sectors that seem to be driving investment continue to be fintech and e-commerce, but content, healthcare and aggregator models also saw traction. The key investments made this week include:
Ola raises $400 mn led by Tencent
Ola raised $400 million from Chinese internet giant Tencent as part of its latest funding round. According to the company’s MCA filings, Ola raised funding from an associate entity of Tencent – Copper Technology Pte Ltd. It had allocated 1,908,143 preferential shares at Rs 13521 a piece. A report suggests that with this round of investment Copper Technology will get a 9.75 percent stake for its investment in the cab-hailing company. With this fund raise Ola’s valuation is believed to be at $3.8 billion.
Yaantra raises $3.1 million funding led by Carpediem Capital
Yaantra the mobile repair and refurbishing company raised $3.1 million in funding. This is the company’s fourth round of funding. With this current fund raise the team plans to double the number of retailers on its platform to 30,000 by the end of this financial year, and expand to 25 cities by the end of next fiscal.
Little Black Book raises $1 million funding led by IDG Ventures, IAN and Blume Ventures
Mumbai based Little Black Book raised its third round of funding. With this existing fund raise the team intends to use the capital to expand into international markets like the Middle East and look at hiring a strong senior management team.
Zefo raises $9.2 million Series B funding led by BEENEXT, Sequoia Capital and Helion Venture Partners
Zefo the e-commerce portal for used goods raised its Series B funding of $9.2 million led by Sequoia India, Beenext, and Helion Venture Partners. The fund raise will be used to focus on strengthening its core operations, expand its product and technology teams and launch into the mobile business.
Drivezy raises $10 million funding
Peer-to-peer car and bike sharing platform Drivezy today announced that it has raised funding of $10 million, led by new and existing investors. This $10 million is in addition to the earlier $6 million raised from Y Combinator, White Unicorn Ventures, Dheeraj Jain, Punit K Goyal, Alok Mittal, Susa Ventures, Qasar Younis, Paul Buchheit, Kima Ventures, Justin Kan, and IT-Farm.
With this fund raise the total funding raised by Drivezy touches $10 million. With the fund raise, the platform also announced the launch of its private Initial Coin Offering (ICO), focussed on the expansion of its peer-to-peer marketplace for cars and bikes.