Mergers, Acquisitions and Funding Round-up this week: September 2 to September 7

A total of 26 Indian startups have raised around $421.29 million in funding. The deals include the 4 growth-stage deals along with 16 early-stage deals. However, 6 startups chose to keep their transaction details undisclosed. Contrary to this, the last week had 31 early and growth-stage startups that cumulatively raised $490.32 million in funding.

Rapido raises $200 Mn by West Bridge Capital

The mobility start-up, Rapido has raised $200 Mn from West Bridge Capital, the existing investor for Rapido. As per the company, the funds are likely to be used for Rapido's newly launched service of the four-wheeler taxis.

Bluestone raises $72 million from multiple investors

Bluestone, the omnichannel jewellery retailer has raised Rs. 600 crore, which is approximately approximately $72 million led by Prosus via its subsidiary MIH Investments. The funding also saw the participation from Steadview, Think Investments, and Pratithi Growth Fund. The funds will be used for expansion, ongoing operations, capital expenditure and other purposes.

JUSTO gets $7 million from Arbour Investments

The prop-tech startup JUSTO has secured $7 million from Arbour Investments, with $5 million in equity and the remaining $2 million as debt. The company plans to utilize the funds to accelerate its growth and expand its market presence.

The Hosteller gets $3.8 million from multiple partners

The backpacker hostel chain, The Hosteller has raised $3.8 million in a funding round which was led by V3 Ventures. However, existing investors like LV Angel Fund, FAO Ventures, and Synergy Capital Partners, among others, also participated in the round. The chain is planning to expand its operations in the country.

Nutrabay gets $5 million from RPSG Capital Ventures

A  direct-to-consumer (D2C) sports nutrition retailer, Nutrabay secured $5 million in a series A funding round led by RPSG Capital Ventures. The round also saw the participation of Kotak Alternate Asset Managers Limited. The brand is likely to expand its omnichannel presence. 

Mergers and Acquisitions

• The hearing care provider Hearzap has acquired Speech and Hearing Care to expand the market share in Bihar and Jharkhand.
• Yatra has acquired Globe Travels aiming to increase its customer base in the corporate travel sector.

Other updates 

• Anil Ambani's Reliance is planning to make electric batteries and cars.
• FlixBus, the European bus operator has started services in Chennai, Hyderabad, Begalvi, Coimbatore, Madurai and Vijayawada and is offering tickets at Rs. 99. 
• PayGlocal, a Pune-based payment aggregator has received the RBI's clearance for operating as an online merchant payments company.