Startup news and updates: Daily roundup (October 25, 2021)
YourStory presents this daily roundup of the latest startup news and updates from the Indian startup ecosystem and beyond. Here's the roundup for Monday, October 25, 2021.
Livspace partners with Alsulaiman Group for Middle East foray; invests $50M to expand in MENA
Omni-channel home interior and renovation platform has announced that it is expanding into the Middle East with a strategic JV with the Alsulaiman Group (ASG), Ikea’s operating partner in the region.
Investment platform Groww raises $251M in Series E led by Iconiq Growth (Funding)
Online trading platform on Monday announced that it had raised $ 251 million at a valuation of $3 billion, led by Iconiq Growth.
The round also saw participation from investors like Alkeon, Lone Pine Capital and Steadfast. Groww’s existing investors Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global, and Propel Venture Partners were also significant participants in the round.
BharatPe raises Rs 100 Cr in debt from MAS Financial Services (Funding)
Fintech startup , on Monday, announced it has raised Rs 100 crores (~$ 14 million) in debt from MAS Financial Services Private Limited (MAS Financial), a non-banking financial company. This is the eighth round of debt fundraising for the company in 2021.
Teachmint raises $78 M in Series B round led by Rocketship.vc, Vulcan Capital (Funding)
Education infrastructure startup on Monday announced that it has raised $78 million in Series B round led by Rocketship.vc and Vulcan Capital. This round also saw new investors, Goodwater Capital and Epiq Capital, pitch in.
Existing investors Learn Capital, CM Ventures, Lightspeed India and Better Capital continue to double down their investments in the fifth round raised by the company.
InMobi's Glance invests in Collective Artists Network
, the consumer internet company, has made an investment in Collective Artists Network, an Indian talent management network and pop culture marketplace.
According to a statement, the collaboration is expected to give Glance strategic access to India’s top creators and celebrities, while providing disruptive and sustainable monetisation opportunities for the country’s entertainment talent.
The Indus Valley raises $1.1M from Rukam Capital, DSG Consumer Partners, The Chennai Angels (Funding)
Chennai-based D2C kitchenware startup, The Indus Valley on Monday announced that it has raised $1.1 million from Rukam Capital, DSG Consumer Partners (DSGCP), and The Chennai Angels. The round also saw participation from Lead Angels Network and Calega Family Office Investor Group.
Intra-city logistics company Porter raises Rs 750 Cr led by Tiger Global, Vitruvian Partners (Funding)
On-demand logistics company has raised Rs 750 crore in its Series E funding round led by Tiger Global Management and Vitruvian Partners, with participation from existing investors — Sequoia Capital India and Lightrock India.
The company will leverage the capital infusion to consolidate its position, focus on acquiring talent, and expand operations to enter the top 35 cities of India by 2023, further strengthening its position as a leader in the logistics market, it said in a statement.
Gurugram startup O4S raises $6M in Series A round from Think Investments, Venture Highway (Funding)
, an IoT SaaS startup focused on the supply chain segment, on Monday said it raised a Series A round of $6 million led by Think Investments, with participation from existing investor Venture Highway.
The Gurugram-based startup, founded in 2017 by Divay Kumar and Shreyans Sipani, had raised a total of $3.5 million in various investment rounds backed by Venture Highway and angel investors.
Micro-savings platform Siply raises $3.2M in pre-Series A round (Funding)
Bengaluru-based micro-savings platform, announced that it has raised $3.2 million in equity and debt as part of its pre-Series A funding round.
The round was led by LetsVenture, AngelList India, and Founder Room Circle and saw participation from investors including Kunal Shah (CRED), Beerud Sheth (Gupshup), Satish Grampurohit (ex-Infosys), Shanti Mohan (LetsVenture) and Pratekk Agarwaal (angel investor, ex CBO-BharatPe). In addition, existing investor JITO Angel Network also participated in the round.
Gurugram-based Wobb has raised Rs 2.1 Cr in pre-seed round (Funding)
Gurugram-based influencer marketing automation platform Wobb has raised Rs 2.1 crore in pre-seed round from lead investors Titan Capital led by Kunal Bahl and Rohit Bansal (Snapdeal Founders) and Point One Capital.
According to the official statement, the round also saw participation from marquee group of angel investors, including Alok Kohli (Senior Director, PepsiCo), Sanjeev Bhargava (ex-Managing Partner, JWT) among others.
BASIC Home Loan raises $3.5M led by Venture Catalysts, Gruhas Proptech (Funding)
BASIC Home Loan, a Gurugram-based fintech startup, has raised $3.5 million in a Series A round of funding led by Venture Catalysts (VCats) and Gruhas Proptech, an investment platform of Zerodha Founder Nikhil Kamath and Abhijeet Pai of Puzzolana Group.
Others who participated in this round include Earlsfield Capital and Good Capital, along with existing investor Picus Capital. There were also investments from angels and family offices which include Haldiram’s, LetsVenture syndicate.
India committed to supplying COVID-19 vaccines to other nations; exports to begin by year end, says official
India is committed to supplying COVID-19 vaccines to other nations and such supplies are likely to begin by the end of this year, as the abundant production will not just meet domestic needs but also generate surplus for exports, a top government official said on Monday.
Textile ministry approves pilot projects for geo-textile application in infrastructure projects
The Ministry of Textiles on Monday has approved the pilot project on skilling of design and commissioning technical personnel associated with the application of geo-textiles in infrastructure projects (roads. highways, railways, and water resources).
Indian Institute of Sciences (IISc), Bangalore, IIT-Madras, and IIT Roorkee will carry out the project, the ministry said in a press note.
