[Weekly funding roundup] Venture investments bounce back in the first week of February

Venture funding in the first week of February touched $321 million with transactions spanning across equity, debt and M&A.
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The month of February started on a very positive note for the Indian startup ecosystem, with venture funding coming off the lows of the last week of January as investors are willing to commit large.

The first week of February saw venture funding touch $321 million, and this was certainly higher as compared to the previous week of $31 million. The week saw startups such as Zetwerk and Mobile Premier League raising funds even as the ecosystem saw certain merger and acquisition (M&A) transactions like ixigo acquiring ConfirmTkt.

During the week, there were 14 deals with majority of transactions in the early stage — at 10 — and two each in growth and late stages. Debt funding made a comeback with two deals with a value of $12 million.

Key deals

Zetwerk raised $120 million in a Series D funding led by Greenoaks Capital and Lightspeed Venture Partners. Other investors Sequoia Capital India and Kae Capital also participated.

Mobile Premier League (MPL) raised $95 million from Composite Capital and Moore Strategic Ventures, with its valuation post the deal touching $945 million.

Other transactions

Digital healthcare platform MediBuddy has closed the $40 million Series B funding round, which had various investors like India Life Sciences Fund III, JAFCO Asia Fund etc.

Microfinance institution SATYA MicroCapital raised fresh equity of $21 million from Japan-based Gojo & Company Inc.

InnerHour raised $5.2 million from Lightbox, Capricorn Ventures, Micasa Investments, and other angel investors.

Koo raised $4.1 million as part of its Series A funding. It saw participation from 3one4 Capital, Accel Partners, Kalaari Capital, Blume Ventures, and Dream Incubator.

Remedico raised a Rs 4 crore bridge round investment led by AWE (Achieving Women Equity) Funds, with participation from LetsVenture and several angel investors. 

YourPhysio raised a $350,000 pre-seed round led by Better Capital. Snapdeal founders Kunal Bahl and Rohit Bansal’s Titan Capital and BITS Pilani angel investors also participated in the round.

Hemp Horizons raised Rs 2 crore as seed round led by Mumbai Angels Network with participation from AngelList.

GoToMobility raised $150,000 from ex-Uber finance head Jesse Lucas, at a valuation of around $11 million.

PrepBytes Technologies raised an undisclosed amount of funding from Equanimity Ventures.

ExMyB, a B2B services marketplace startup for businesses, raised an undisclosed round of funding from Campus Fund and other angel investors.

India connect

Agara, a New York tech startup with plans to establish a pure AI research team in Bengaluru, raised $4.3 million led by UTEC and Blume Ventures and RTP Global.

New Jersey and Bengaluru-based healthtech firm Indegene raised $200 million from US-based investment firms Carlyle Group and Brighton Park.

Qapita, a Singapore-based SaaS startup with presence in India, raised an undisclosed amount from East Ventures.

M&A

Stillfront Group has acquired Moonfrog Labs in a deal valued at $90 million.

Travel app ixigo will acquire Confirmtkt, a Bengaluru-based online train discovery and booking platform, for an undisclosed amount.

Edited by Kanishk Singh

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