Mergers, Acquisitions and Funding Round-up this week: July 8 to July 13

The second week of July saw around 22 Indian start-ups raising $116.26 million in funding. The deals included 4 growth-stage deals and 16 early-stage deals, with 2 early-stage startups keeping the transaction details undisclosed. Check the details of the funding obtained by a few start-ups this week here.

Dezerv raises ₹265 crore funding from Premji Invest

The Mumbai-based wealth-tech platform, Dezerv has raised Rs 265 crore ($32 million) from Premji Invest, a private equity firm. Existing investors like Elevation Capital, Matrix Partners, and Accel India also participated in this round. The fund was led in a Series B funding round. 

G.O.A.T Brand Labs raises fund $21 Mn from multiple investors

GOAT Brand Labs, a specialised investment firm with a special focus on the fashion and retail industry has raised $21 million from investors such as BlackRock, Mayfield, and NB Ventures in a mix of debt and equity. Although the brand has not disclosed information about the valuation of the deal, the majority of the capital is believed to be secured via the debt financing route. 

Infra.Market secures $520 Mn from multiple investors

The B2B e-commerce platform, Infra.Market has secured $520 million from multiple investors. Those include Tiger Global, Accel, Nexus Ventures, and others. The funding has been an equity and debt type with the investors. The round also saw the participation of digital lending unicorn Yubi (formerly CredAvenue), agriculture financing platform Samunnati, Vivriti Capital, among others.

CollegeDekho raises $9 Mn from existing investor

Collegedekho, a start-up for college admissions and higher education services platform has raised $9 million, which is an approximate amount of about Rs. 74.55 crore from its existing investor Winter Capital Partners. The Gurugram-based company had recorded a revenue of Rs. 239 crore this year.

Immuneel Therapeutics raises $12 million from FZ LLC

The cancer-focused biotech startup Immuneel Therapeutics has raised $12 million, which is close to Rs.100 crore in funding from UAE-based Taiba Middle East FZ LLC. This is the third round of funding for the Bengaluru-based Immuneel Therapeutic since 2018.

iVP Semi raises $5mn by multiple investors

The fabless semiconductor startup iVP Semi has raised $5 million from multiple investors. While the company has not named the investors, the fund has been secured in a pre-Series A round. The start-up is most likely to use the funds to set up chip design centers in Chennai and Bengaluru.

Mergers and Acquisitions

• MGM Healthcare, a multi-specialty quaternary-care group has acquired Seven Hills Hospital in Vizag for Rs. 171 crore. The acquisition is said to be part of the corporate insolvency resolution process of Seven Hills Hospital. 
• AI-based financial wellness platform, CASHe's parent company, Aeries Financial Technologies' (AFT) has acquired Centcart Insurance Broking. However, the amount has not been disclosed.
• The ed-tech platform Schoolnet has acquired the Mumbai-based K-12 focussed quiz-based learning app Genius Teacher in an all-stock deal. The company has not disclosed the financial numbers.

Major updates of the week

• Softbank has exited Paytm with a loss of 10-12%. The total loss is announced to be around $150 million.
• Deepinder Goyal has become India's newest billionaire, almost 16 years after launching Zomato.
• Karan Adani-led Adani Port is about to invest Rs 20,000 crore to develop Vizhinjam port.