Funding and acquisitions in Indian startup this week [01 – 06 July]

This week, 24 Indian startups raised $270.3 million, with 4 growth-stage deals totaling $234.2 million and 20 early-stage deals at $36.13 million. Leading growth-stage deals included Purplle’s $120 million and OYO’s $50 million rounds. In early-stage, Comet and Watch Your Health were notable. City-wise, Bengaluru led with seven deals. Seed funding topped the series with six deals. Japanese automaker Suzuki launched a Rs 340 crore social impact fund. Significant hires, acquisitions, and closures, including Unacademy layoffs and Koo’s shutdown, marked the week.

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https://entrackr.com/2024/07/funding-and-acquisitions-in-indian-startup-this-week-01-06-july/

Exclusive: Awign bags $24.5 Mn in series C, Mynavi now holds 73% stake

Awign has raised Rs 203.5 crore ($24.5 million) from Japan’s Mynavi Corporation, now holding a 73% stake. The funds were raised by issuing 11,485 Series C CCPS at Rs 1,77,206 each. Mynavi also bought back shares from existing investors, valuing Awign at Rs 828 crore ($100 million). Founded in 2016, Awign aids enterprises with outcome-based execution and has shown financial growth in FY23, doubling its revenue to Rs 134.35 crore. The HR tech funding space saw a decline to $90 million in 2023.

#Entrackr #News #Startup #IndianStartup #Awign #StartupFunding #InvestmentNews #Entrepreneurship #TechNews

https://entrackr.com/2024/07/exclusive-awign-raises-24-5-mn-mynavi-now-controls-73-stake/

Tickertape’s revenue scales 2.4X in FY23, losses rise to Rs 35 Cr

Bengaluru-based fintech startup Tickertape saw a 2.4X revenue growth to Rs 7.4 crore in FY23. Founded by Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta, it provides investment information and analysis. Operating revenue rose to Rs 7 crore, comprising 93% of total revenue. Expenses doubled to Rs 42.7 crore, with significant spending on employee benefits and advertising. Despite raising Rs 40 crore in 2021, losses doubled to Rs 35.3 crore in FY23. Its EBITDA margin is -419.38%, with ROCE at 0.00%.

#thekredible #Tickertape #FintechGrowth #RevenueScaling #StartupSuccess #InvestmentPlatform #BengaluruStartups #StartupFunding #News #Startup #EmployeeBenefits #FintechNews #StockMarketTools #InvestmentResearch #StartupJourney

https://thekredible.com/blogs/tickertapes-revenue-scales-2-4x-in-fy23-losses-rise-to-rs-35-cr

Ola Electric raises Rs 100 Cr debt ahead of IPO

IPO-bound Ola Electric raised Rs 100 crore ($12 million) in debt from Alteria Capital, following a $50 million debt funding from EvolutionX. The company issued 10,000 non-convertible debentures with a 13.8% interest rate. Valued at $5.4 billion, Ola Electric filed for an IPO to raise Rs 5,500 crore ($660 million). The company reported a seven-fold revenue increase to Rs 2,631 crore in FY23, despite rising losses.

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https://entrackr.com/2024/06/exclusive-ola-electric-raises-rs-100-cr-debt-ahead-of-ipo/

Zomato to invest Rs 400 Cr in Blinkit and Zomato Entertainment

Zomato is investing Rs 300 crore ($36 million) in its quick commerce arm Blinkit to compete with Swiggy Instamart and Zepto. Additionally, it will invest Rs 100 crore ($12 million) in its subsidiary, Zomato Entertainment. Since acquiring Blinkit (formerly Grofers) in 2022, Zomato has invested Rs 2,300 crore ($277 million) in it. Blinkit recently achieved EBITDA profitability. Competitors Swiggy and Zepto are also significantly investing in quick commerce.

#Entrackr #News #StartupNews #Startup #Fintrackr #Zomato #Blinkit #Foodtech #Zepto #SwiggyInstamart #QuickCommerce #StartupFunding #IndianMarket

https://entrackr.com/2024/06/zomato-to-invest-rs-400-cr-in-blinkit-and-zomato-entertainment/