Mergers, Acquisitions and Funding Round-up this week: May 13 to 18

Last week saw various important investments with Indian startups cumulatively raising $121.8 Mn across 21 deals between May 13 and 18, down 45% from the last week. Once again, Fintech became the topmost sector in weekly funding trends, with startups in the sector raising $33.1 Mn across three deals. However, the seed funding continued to tumble down with startups at this stage securing $3.5 Mn this week. 

Here are the details of the few mergers and fundings in the business world to check out!

Propelld raises $25 Mn from multiple investors

A Fintech company, Propelld has raised $25 Mn from various investors including Credit Saison India, AU Small Finance Bank, InCred Financial Services, and Northern Arc Capital. The B2C start-up has got the investment in Debt Funding round type. 

RED.Health gets $20 Mn from Jungle Ventures

The health-tech start-up RED.Health has got the second highest funding of $20 Mn from Jungle Ventures as the major investor along with HealthQuad, HealthX, and Alteria Capital. The brand offering Healthcare Services, RED.Health has a Series B Funding Round Type from the investors on May 15. 

Dhaksha Unmanned Systems gets $18 Mn from Coromandel International Limited

A Chennai-based drone start-up Dhaksha Unmanned Systems, has raised $18 Mn from the agri-solutions provider Coromandel International Limited. The B2B-B2C start-up that specialises in Dronetech got the funding on May 13.

Niqo Robotics gets $13 Mn from Bidra Innovation Ventures

Niqo Robotics, an agriculture robotics company dealing in IoT & Hardware also got funding this week of $13 Mn from investors including Bidra Innovation Ventures. The round also saw investments from Fulcrum Global Capital and Omnivore, bringing Niqo’s Series A and Series B fund-raising to $21 million. 

Rupeek gets INR 52 Cr from One Large Value Fund, BlackSoil

Rupeek, a B2C Fintech company has raised INR 51 Cr in a down round from 360 One Large Value Fund (formerly IIFL Wealth Management) and BlackSoil. The fresh capital was raised at a third of the startup's last estimated $600 Mn valuation in 2022.

Celcius Logistics gets Rs 40 crore from IvyCap Ventures

Celcius Logistics, a domestic aggregator that provides end-to-end cold-chain solutions, has secured Rs. 40 crore in a pre-series B funding round led by existing investor IvyCap Ventures. Along with that, the other investors also include ⁠Mumbai Angels and Caret Capital.

SolarSquare Secures $4.2 Mn from Zerodha’s Rainmatter, Gruhas, and Others

Rooftop solar startup SolarSquare has raised $4.2 million in a new funding round where the start-up has attracted investment from existing backers including Zerodha’s Rainmatter Capital, Gruhas Proptech, founded by Abhijeet Pai and Nikhil Kamath, Lowercarbon Capital, Climate Angels, and Good Capital. The funds are expected to aid in the company’s expansion plans and support general corporate functions. 

Other important movements: 

• Rare Rabbit, the Bengaluru-based brand is also closing its first-ever funding round of Rs. 500 crore where Nikhil Kamath and Ravi Modi are also likely to invest Rs. 150 crore alone.
• Gruhas Proptech and Venture Highway were the most active investors for this week.
• Global investment firm KKR is also looking to divest a 10% stake in NBFC startup InCred to Japan’s Mizuho Financial Group.