Mergers, Acquisitions and Funding Round-up this week: October 14 to 19

Last week, 39 Indian startups raised around $449.33 million in funding which counts 12 growth-stage deals and 16 early-stage deals. However, 11 start-ups kept their transaction details undisclosed. Contrary to this, 32 early and growth-stage start-ups, cumulatively, raised over $134 million in funding. Take a look at the major funding news of the week.

Eruditious raises $150 mn by TPG

Eruditious, an Indian educational technology company has raised $150 million from private equity firm TPG (TPG.O) in a new funding round led by them. The funding also saw the participation of existing backers SoftBank, Leeds Illuminate, Accel, CPP Investments and Chan Zuckerberg Initiative which made it a valuation of $3 billion.

Purplle raises Rs. 1,500 crore by multiple investors 

Purplle, an omnichannel beauty platform, has received an investment of Rs. 1,500 crore in its Series F funding round, led by a subsidiary of the Abu Dhabi Investment Authority (ADIA). The round also saw additional participation from existing investors, including Premji Invest and Blume Ventures. The funds will be used to enhance the platform's technology.

Neuron7.ai raises $44 million from multiple investors

The enterprise tech startup Neuron7.ai raised $44 million from the investment firm Smith Point Capital in a funding round led by this US-based firm. The round also saw the participation of existing investors like  Nexus Venture Partners and Battery Ventures. The firm plans to scale operations in India with the raised money. 

GIVA raises Rs. 255 crore from multiple investors

Jewellery retailer GIVA has raised Rs. 255 crore in a funding round, with participation from investors such as Premji Invest, Epiq Capital, and Edelweiss Discover Fund, as well as GIVA's top management. The company plans to use the funds to expand its offline presence and accelerate its lab-grown diamond offerings.

Primus Senior Living has raised USD 20 million from multiple investors

Elder care startup Primus Senior Living has raised USD 20 million in a funding round led by General Catalyst, Zerodha co-founder Nikhil Kamath, and Gruhas, the investment firm co-founded by Kamath and Abhijeet Pai of the Puzzolana Group. The funds will be used to integrate healthcare, wellness, lifestyle, and social engagement services, all delivered within the comfort of seniors' homes.

Upgrad secured funding from Temasek; Ronnie Screwvala acquires stake in Bharti Enterprises

Mergers and Acquisitions 

• Direct-to-consumer (D2C) meat and seafood brand Licious acquired My Chicken to expand its presence across South India.
• IBM purchased Prescinto to integrate the company's renewable energy asset management software into IBM.
• Indium, an AI-driven digital engineering firm supported by the esteemed private equity firm EQT, took over Experion.
• Gaming investment company Jetapult acquired UMX Studio to expand its presence across markets. 
• Singapore-based Temasek has bought an undisclosed stake while investing in Bharti Enterprises for $20 million.

Other updates

• Karnataka plans to impose 1-2% transaction fees on Zomato.
• India and the USA have signed a Rs. 32,000 crore deal to acquire 31 predator drones and MRA facilities.