[Weekly Funding Roundup] Droom’s $30 million Series E round steals the spotlight

[Weekly Funding Roundup] Droom’s $30 million Series E round steals the spotlight

Sunday October 07, 2018,

3 min Read

Late-stage deals stayed in focus last week, with the biggest one being used car marketplace’s Droom’s $30 million Series E round. According to YourStory Research, a total of $68.96 million was raised across 10 deals.

There also was a mix of different stages - two small-ish Series B rounds raised $10.5 million, two pre-series A rounds $300,000, and four other rounds amounting to $28.16 million. Dockless scooter sharing platform Vogo raised Rs 8.5 crore in debt funding, led by Alteria Capital.

According to a report by VCCircle, logistics startup ElasticRun raised $8 million co-led by existing investors Norwest Venture Partners and Kalaari Capital. Foodtech startup InnerChef raised $1.76 million. We’ve accounted these announcements in the total funding raised this week.

Here’s a quick look at the top deals of the week:

Droom raises $30 million in Series E, led by Joe Hirao and others

The Gurugram-based used car marketplace raised $30 million in a Series E round led by Joe Hirao’s family office fund. Another Japan-based family fund office also participated. Media reports suggest the fund will primarily be used to develop its used vehicle loan marketplace, Droom Credit.

9stack raises $3.84 million led by Waterbridge Ventures, Astarc Ventures and existing investors

9stacks, the online skill-based gaming startup, has raised a Series A funding of $3.48 million. The round is said to have been led by WaterBridge Ventures. Existing investors and Astarc Ventures also participated. The funding will be used to build technology, grow users, focus on product and market expansion.

KOOH Sports raises $10.17 million from PE firm Gaja Capital in exchange for a minority stake

The sports training and education company raised $10.17 million from equity firm Gaja Capital. The PE firm is reported to have taken a significant stake in the sports startup. Reports also suggest that KOOH sports investment will now be a part of SportzVillage, Gaja Capital’s integrated sports management platform.

GoBolt raises $5.46 million led by Aavishkar Impact fund

B2B transportation provider GoBolt has raised $5.46 million led by Aavishkar to strengthen its team and expand its presence across the country, increase its fleet size and further develop its tech platform.

Vahdam Teas raises $2.5 million led by existing investor Fireside Ventures

The online tea startup has raised $2.5 million funding led by existing investors. Vahdam now intends to expand its presence in the US, and also acquire customers and explore new markets.

In other news

Exits also the limelight this week. Future Group acquired a 54.98 percent stake in Mumbai-based digital payments company LivQuick for $2.71 million. According to its BSE filings, Future Group has also committed additional investment of $679,900 in LivQuik.

In addition, Indonesian point-of-sale startup Moka, which recently raised funding from Sequoia Capital, also acquired Mumbai-based Getinfocus, a contextual marketing platform. Amazon, meanwhile, pumped in a whopping $79.8 million into Amazon Pay for its growth and expansion.

A couple of investors announced they had closed new funds for India, including Alteria Capital and Blume Ventures.

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