Mergers, Acquisitions and Funding Round-up this week: September 16 to September 21

This week, as many as 36 Indian start-ups raised around $628.24 million in funding. The deals included 14 growth-stage deals along with 17 early-stage deals. However, almost 5 start-ups kept their transaction details disclosed. On the contrary, there were 24 early and growth-stage startups cumulatively raising over $228 million in funding.

Physics Wallah raises $210 million from multiple investors 

The ed-tech platform, Physics Wallah has raised $210 million from Hornbill Capital, along with Lightspeed Venture Partners, GSV, and Westbridge. The Series B round raised marked the company at a value of $2.8 billion. The company is likely to use the funds for acquisition purposes. 

Whatfix raises $100 million from multiple investors

Whatfix, a SaaS-based digital adoption solution provider has raised $100 million in primary and secondary funding from Sweet Nectar Investments (Warburg Pincus) and SoftBank. This has made it the first funding round for the Bengaluru-based company. Whatfix aims to use the primary funds to expand and grow the business.

M2P Fintech raises $50 million from Taj Investment Holdings

M2P Fintech, an Application programming interface (API) infrastructure platform has raised Rs. 417.5 crore, approximately $50 million from the new investor Taj Investment Holdings. The company plans to use the funds for expansion and to meet its working capital needs. 

Redcliffe Labs raises $42 million from multiple investors

An omnichannel diagnostics service provider, Redcliffe Labs, has raised $42 million from IFU (Investeringsfonden for Udviklingslande), Denmark’s Investment Fund for Developing Countries along with the existing investors, LeapFrog Investments. The capital is likely to help with the company's existing expansion plans.

Everest Fleet raises $30 million from Uber

The fleet management company, Everest Fleet has raised $30 million from the ride-hailing major, Uber. The funding was raised in a Series C funding round. This investment is likely to expand the fleet of clean-energy vehicles which include compressed natural gas (CNG) and electric vehicles (EVs).

Mergers and Acquisitions

• Mumbai-based supply chain financing and working capital software ventureVeefin acquired a 26% stake in EpikIndifi.
• OYO has acquired Motel 6-parent G6 Hospitality for $525 million.
• Stockal has acquired Acru, a brand that specialises in infrastructure solutions for NRIs and PIOs investing in Indian financial products. 
• Wondrlab, a marketing technology agency, has acquired its second influencer marketing platform OPA. 
• Marsh Harrier, an agri-tech start-up, which is backed by IIMA Ventures has acquired a computer vision company AJA Vision Technologies for an undisclosed deal. 

Other news: 

• Spicejet is aiming to raise Rs. 2,999.99 crore to address operational challenges.
• The debt-ridden Vi has signed a $3.6 billion network gear deal with Nokia, Ericsson, and Samsung.