This week of July saw as many as 22 Indian startups securing around $113.39 million in funding. These account for 5 growth-stage deals and 8 early-stage deals while 9 early-stage start-ups keep their transaction details undisclosed. The deals saw various investors taking part in the rounds.
Rays Power Infra gets Rs. 127 crore in equity capital fundraising
A solar EPC Company, Rays Power Infra has raised a total of Rs. 127 crore from multiple sources. The investors include diverse investors, including high-net-worth individuals, family offices, funds, and Alternative Investment Funds. The brand plans to keep raising the funds even in the future.
Neo raises Rs. 32 crore for the first time
Keeping the investor undisclosed, the wealth and asset management firm, Neo has raised Rs. 32 crore, approximately, nearly $4 million via a private placement. The Neo's board has passed a special resolution to issue 1226 equity shares.
Stable Money raises $15 million from multiple investors
Wealth tech start-up Stable Money has raised over Rs. 123 crores, approximately, $15 million from RTP Capital, Lightspeed India, and Matrix Partner in a new round. Based in Bengaluru, the company has passed a special resolution to issue 77,135 CCPS at a price of Rs. 16,019 each.
Incuspaze secures $8 million from India Inflection Opportunity Fund and others
Incuspaze, a flexible workspace provider and a co-working space has raised $8 million from India Inflection Opportunity Fund and other financial institutions in its maiden funding round. With the funds raised, the company is aiming to expand its network of flexible workspaces, and technological infrastructure.
Unimech Aerospace raises Rs. 250 crore from multiple investors
Unimech Aerospace, the Bengaluru-based company that specialises in manufacturing high-precision tooling for aero-engines and airframes has raised Rs. 250 crores. The investors include Steadview Capital Mauritius Limited, ValueQuest Scale Fund, and Evolvence India Fund IV Ltd as a part of its private placement round.
Mergers and Aquisitions
- Riveron, a business advisory firm has acquired Yantra to expand its operations.
- Thyrocare has acquired Polo Labs to strengthen its presence in northern India.
- Acko and Captain Fresh, both of which belong to the insurance and seafood industries have acquired OneCare and Koral respectively eying a strong market position.
Other news
- UltraTech Cement, a brand under the Aditya Birla Group is about to buy a 32.72% stake in India Cements for a total of Rs 3,954 crore.
- US-based Apple is planning to assemble the iPads in Tamil Nadu in India.