[Weekly funding roundup] This week, celebrations took precedence and funding seemed to be on the back burner
Two late-stage funding deals helped the amount to breach the $100 million mark this week with Automobile classifieds platform CarDekho being the bellwether.
Funding this week continued to ebb and reached just over $137 million spread across six deals. There were two late-stage and three early-stage deals that saw more than $132.7 million being raised amongst them.
The deal of the week: CarDekho
Jaipur-based CarDekho raised Series C of $110 million from Sequoia India, Hillhouse, CapitalG (Alphabet growth investment arm) and Axis Bank. The company said that it will use the fresh funds to enhance focus on the used-car segment of the market and build a strong foundation in transaction services, including insurance and financing.
Delhi-based Vyome raises Series D
Speciality pharmaceutical company Vyome Therapeutics raised $22 million in a Series D round led by Iron Pillar. Existing investors like Perceptive Advisors, Romulus Capital and Kalaari Capital also participated in this round.
A quick look at key early-stage deals this week
Bengaluru-based regional language discussion platform, Manch, raised $700,000 in its seed funding round from Stellaris Venture Partners and other investors. Ex-Flipkart executive and co-founder of Udaan, Sujeet Kumar was also one of the investors participating in the seed round.
Two other startups raised undisclosed amounts in their Pre-Series A rounds. Gurugram-based health-tech startup Abita Healthcare raised an undisclosed amount of seed funding led by Michigan-based early-stage fund, and global incubator Sky7Ventures. Bengaluru based robotics and artificial intelligence powered and drone-based aerial data solution startup Asteria Aerospace raised an undisclosed amount in its Pre-Series A round from Boundary Holding, a Luxembourg-based fund.
Debt and other funding:
- Chennai-based NBFC company, Samunnati Financial Intermediation and Services Private Ltd raised $5 million in debt funding from Dutch development bank FMO this week. It raised the fund by issuing non-convertible debentures
- Tata Cleantech Capital, a joint venture between Tata Capital and the International Finance Corporation (IFC), raised $25.6 million through its maiden green bond issue from Dutch development bank FMO.
Exits and Acquisitions:
Mumbai based Servify, that offers brand authorised after-sales service for devices, acquired its Bengaluru-based counterpart iService in a cash and stock deal. iService is operational in Delhi and Bengaluru and services smartphones and laptops.