This week saw major developments in the startup industry. While a few Indian start-ups raised significant amounts of money, a lot of big players announced acquisitions of homegrown brands. Here’s a look at this week’s report.
Nazara Technologies raises over $100 Mn
Nazara Technologies, a Mumbai-based gaming start-up has raised 855 crore, which is approximately $100 million through a preferential issue. As per the reports, the funds will be supporting the expansion in the gaming and sports media sectors.
NeoGrowth raises dept from UTI International
The MSME-focused digital lender NeoGrowth has announced that it has raised debt funding from UTI International Wealth Creator. The company's board has approved the issuance to raise up to Rs. 42 crore, approximately $5 million. This is the company's second debt raise this year.
HealthKart raises $153 million from ChrysCapital, Motilal Oswal Alternates
HealthKart, which is the parent company of nutrition and fitness brands MuscleBlaze and HKVitals, has raised $153 million in secondary funding led by ChrysCapital and Motilal Oswal Alternates. However, the existing investors A91 Partners also participated in the round.
Insurtech firm Zopper raises $25 mn
The insurance technology start-up Zopper has raised $25 million in series D funding, led by Elevation Capital and Dharana Capital. In addition, the existing investor, Blume Ventures also participated in the round. The brand is likely to use the funding to boost digital technology infrastructure.
Althion raises Rs 3.6 crore by multiple investors
The water-tech company Althion has raised Rs. 3.6 crore from multiple investors including IAN Group-powered BioAngels, along with participation from investors like Arun Seth, Om Manchanda, KNK Venkatraman, and Shubham Rastogi. It was a pre-Series A funding round and the brand has already raised $180K from C-CAMP and others.
Zomato raises ₹8,500 crore
The food and grocery delivery player Zomato has raised Rs. 8,500 crore by allocating 33.64 crore shares at Rs. 252.62. The funds are expected to be used to expand its commerce segment, Blinkit as it is witnessing a demand amid the rival Swiggy and Zepto's expansion.
Mergers and Acquisitions
- The Good Glamm Group has acquired majority stakes in The Moms Co. through a cash and stock deal,
- Arzooo is acquired by Moksha Group to empower small retailers with digital tools.
- Khatema Fibres has been acquired by Moglix with an investment of ₹80 crore.
- OneSource Speciality Pharma has been acquired by 360 ONE Asset for an undisclosed amount.
- The beauty brand and an e-commerce Nykaa have acquired majority stakes in Earth Rythm.
Other updates
- Swiggy has launched a kitchen equipment procurement service for restaurants for leftovers.
- Myntra is working on a 2-hour delivery service for the products.
- MakeMyTrip has announced its plans to acquire Happay from CRED.
- TCS has partnered with IITKGP to launch an advanced research centre for studies on robotics.
- Rajasthan is planning to set up a new IT city, which will be almost 50 km from Gurugram.