Mergers, Acquisitions and Funding Round-up this week: August 12 to August 17

This week saw at least 25 start-ups in India raising around $432 million in funding. The deals include 6 growth-stage deals and 16 early-stage deals wherein 3 early-stage startups did not disclose the details of the deals. Here are some of the major deals of the week. 

OYO raises $175 million from multiple investors

The hospitality brand OYO has raised ₹1,457 crore (approximately $175 million) from multiple investors, including InCred Wealth, Patient Capital, J&A Partners—the family office of Mankind Pharma promoters—and ASK Financial Holdings. This funding was secured in a Series G round.

Ather Energy raises $71 million

Ather Energy, the electric two-wheeler maker has got into the list of a unicorn by raising $71 million from the existing investor National Investment Infrastructure Fund (NIIF). The investor, NIIF had made the first investment to the company in 2022 for the first time. 

Neo raises $48 million by MUFG and Euclidean Capital

The wealth and asset management firm, Neo has raised Rs. 400 crore, approximately, $48 million by the investors, MUFG Bank and New York-based Euclidean Capital LLC. Raised in the Series B round, the company also got the investment from the existing investor Peak XV. 

Kinetic Green raises $25 million from Green Pacific

The EV firm Kinetic Green has secured an investment of $25 million from Greater Pacific Capital (GPC), which is a global PE firm. The funds are likely to be utilised for scaling up the production including the launch of the E-Luna, while the company would also channel the funds for research and development for the new products.

Fresh Bus gets $10.42 million

The intercity electric bus start-up, Fresh Bus has secured $10.42 million from Maniv, Shell Ventures, Alteria Capital, and even the existing investor, Riverwalk Holdings. Reportedly, the funds will be utilised to launch 150 electric buses in the coming times. 

Mergers and Aquisitions

• The agritech firm Jai Kisan has got regulatory approval to acquire Kushal Finnovation Capital.
• The Veefin Group of Companies has acquired Nityo Tech, which is the Indian arm of Singapore-based Nityo Infotech. It is the second acquisition of Veefi in two months.
• OYO acquired Checkmyguest, a Paris-based company for $27.4 million.
• Radio Mirchi’s parent ENIL has purchased Gaana.com. for Rs. 25 lakh.