Mergers, Acquisitions and Funding Round-up this week: November 4 to 11

A total of 25 Indian start-ups raised $138.7 million in funding in the last week where the deals include 3 growth-stage deals and 20 early-stage deals. Two start-ups kept the details of the deals confidential. On the other hand, the previous week had 13 early and growth-stage startups cumulatively raised around $362 million in funding. Here's more about it.

Easy Home Finance raises $35 million $35 million in its Series B funding round

Fintech startup, Easy Home Finance has raised $35 million in its Series B funding round through Claypond Capital and Sumitomo Mitsui Banking Corporation's Asia Rising Fund. The funding is likely to be dedicated towards making finance "digital, efficient, and accessible".

MODIFI raises $15 million from multiple investors

MODIFI, a fintech firm and platform in B2B Buy Now, Pay Later (BNPL) solutions has raised $15 million led by SMBC Asia Rising Fund and others. The round also saw participation from existing investors Maersk, IntesaSanPaolo, Heliad, and other top-tier global investors. The funds will be used to expand international trade operations. 

Mihup raises Rs. 50 crore from Ace Investors 

The conversation intelligence platform, Mihup has raised Rs. 50 crore by Ashish Kacholia and the family office of Madhusdan Kela. The company is planning to enter new markets with the raised funds in the future. The funding is also likely to scale up product offerings. 

UnifyApps Raises $20 million

In a series A funding, UnifyApps, an app for enterprise integration, has raised $20 million in a round by Iconiq Growth. The round also saw participation from investors including Elevation Capital. The company is expanding its team to over 150 employees and setting up new offices. 

BoldFit raises Rs. 110 crore investment

The KL Rahul-backed start-up for fitness products, BoldFit has raised Rs. 110 crore from Bessemer Venture Partners, a VC firm. The brand is looking to build a larger fitness powerhouse in the coming years with the funds. It also plans to open offline stores. 

GalaxEye raises Rs. 84 crore 

GalaxEye, a space-tech brand has raised Series A funding of $10 million from MountTech Growth Fund, Kavachh. The brand is aiming to launch a micro-satellite constellation that can be capable of capturing space data and providing real-time insights. 

Algorand Foundation Announces its Investment in 5 Startups

Algorand Foundation has officially launched its investment journey with Indian Web3 startups at T-Hub’s inaugural Startup Lab and has invested in LW3, FilmFinance, Automaxis / FDP Connect, Astrix, ARVOfinancial details are not disclosed for the investments.

Mergers and acquisitions

• The wealth-tech platform has acquired a wealth management platform, Nivesh acquired Wealthzi.
• Veefin Solutions has got the majority stakes in GenAI startup Walnut.
• BrahmVeda Ventures, an AI-focused venture studio, has acquired Vedvaani, an Astro AI platform in a cash and equity deal.

Other updates

• Singapore Airlines is set to invest Rs. 3,195 crore in Tata’s Air India after the Vistara merger.
• The Indian government is planning to set up a mini Silicon Valley in Goa.
• Gujarat has become the first Indian state to implement a dedicated semiconductor policy.
• Zomato has launched a ‘food rescue’ feature to avoid wastage of food.