Startups, Mergers, Acquisitions and Funding Round-up this week

This week saw major announcements in the finance 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.

Zepto raises $350 Mn by Motilal Oswal Private Wealth

Zepto, a Quick commerce company has raised $350 million in a funding round led by Motilal Oswal Private Wealth. The round also saw the participation of Raamdeo Agarwal, the Taparia Family Office, the Mankind Pharma Family Office, the RP Sanjiv Goenka Group, the Cello Family Office, the Haldiram Snacks Family Office, the Sekhsaria Family Office, the Kalyan Family Office and more. With this, Zepto has raised a total of $1.35 billion in 2024.

Zopper raises $25 Mn by multiple partners

The insurance infrastructure API platform Zopper has raised $25 million in a Series D funding round led by Elevation Capital, Dharana Capital, and Blume Ventures. The funding has come for the company after a gap of two years and the funds are likely to be used for enhancing digital infrastructure.

CredFlow secures $3.7 Mn

CredFlow, the Fintech startup has raised $3.7 million (about Rs. 31.2 crore) in a pre-Series B funding round which was co-led by two of its existing investors, Inflexor Ventures and a Singapore-based family office. The funds, reportedly, will be used for optimising and scaling the financial services and lending verticals.

OneCell Diagnostics raises $16 Mn

The cancer diagnostics start-up OneCell Diagnostics has raised $16 million in its Series A round led by Celesta Capital. The round, however, also saw the participation of Tenacity Ventures, Cedars Sinai, Eragon, and Singularity Ventures. The finances are going to be used in the expansion of OncoIndx Alfa, a liquid biopsy test that detects circulating tumour cells.

HealthKart raises $153 Mn by ChrysCapital and Motilal Oswal Alternates

HealthKart, an omnichannel nutrition platform has raised $153 million led by ChrysCapital and Motilal Oswal Alternates. In addition, the existing investor A91 Partners along with Neo Group also participated in this round. As of yet, the company has over 200 retail stores across 90 cities, apart from the online presence.

Mergers and Acquisitions:

• Mumbai-based Moksha Group has acquired the struggling Arzoo Assets without disclosing the commercials.
• E-commerce enablement SaaS platform Unicommerce has acquired  Shipway, a Gurugram-based e-commerce technology platform. Reportedly, the company has acquired a 42.76% stake in Shipway.
• Kovai. Co, a Coimbatore-based company has acquired Bengaluru-based B2C SaaS startup Floik⁠⁠ which aims to strengthen the Kovai.co’s capabilities with its AI-powered knowledge management software, Document360.

Other news

• Makemytrip to acquire the Happay Expense Management platform from CRED for which the transaction is expected to be closed in 90 days.
• ⁠India’s Tata Elxsi, in partnership with DENSO Robotics Europe and AAtek has inaugurated a Robotics and Automation Lab in Frankfurt to drive the future of robotics in sectors like medical devices, pharmaceuticals, life sciences and food science.
• Addverb is planning to launch India’s first humanoid robots in 2025.
• Decathlon has partnered with Zomato’s Blinkit for clothes delivery within 10 minutes.
• Tatas plans to buy shares in Apple partner Pegatron’s India business.
• Reliance to acquire Tagz Foods, a brand that appeared in the Shark Tank show.
• Blackstone is planning to acquire Haldiram’s 20% stake.