Ola Monetary Companies (OFS) has raised $27.1 Mn from Matrix Companions
Awfis Area Options Non-public Restricted has raised $5.2 Mn (INR 40 Cr)
Ola Electrical has acquired Amsterdam-based Etergo BV
We deliver to you the newest version of Funding Galore: Indian Startup Funding Of The Week!
In one of many greatest funding rounds this week, Ola Monetary Companies (OFS), which is the father or mother firm of fintech enterprise Ola Cash, has raised $27.1 Mn (INR 205 Cr) funding from Matrix Companions. Sources near the matter mentioned that the transaction valued Ola Monetary Companies at $250 Mn or INR 1,875 Cr.
General, 9 startups raised round $40.four Mn funding and one startup acquisition happened within the Indian startup ecosystem this week. (This funding report is predicated on startups that disclosed funding quantity.)
Indian Startup Funding Of The Week
- Ola Monetary Companies: $27.1 Mn
- Awfis: $5.2 Mn
- Euler Motors: $2.6 Mn
- CoinDCX: $2.5 Mn
- Hoi Meals: $2 Mn
- Xtracap Fintech: $1 Mn
- HomeCapital: Undisclosed
- GramCover: Undisclosed
- Blowhorn: Undisclosed
Delhi-based coworking house supplier Awfis has raised recent funding, which may assist the corporate to mitigate the influence of Covid-19 on their enterprise. Based on the ministry of company affairs (MCA) filings accessed by Inc42, Awfis Area Options Non-public Restricted has raised $5.2 Mn (INR 40 Cr) by issuing debentures and choice shares.
New Delhi-based electrical automobile (EV) startup Euler Motors has raised $2.6 Mn (INR 20 Cr) in Collection A funding spherical led by Inventus Capital India. Blume Ventures, Singapore-based Jetty Ventures India and B2B ecommerce platform Udaan’s cofounder Sujeet Kumar. Euler Motors will use the newest funding to rent expertise, analysis and growth (R&D) and provide chain localisation.
Mumbai-based cryptocurrency exchange aggregator CoinDCX has now bagged $2.5 Mn strategic funding led by present investor Polychain Capital. Coinbase Ventures, the funding arm of San Francisco-based cryptocurrency buying and selling platform Coinbase, additionally participated within the spherical. Apart from scaling up its tech and enterprise, CoinDCX is now planning to speculate the funds to facilitate extra sturdy cryptocurrency buying and selling in India.
Gurugram-based cloud kitchen startup Hoi Meals has raised $2 Mn in its Pre-Collection A funding spherical led by 1Crowd together with the participation of Sprout Ventures, AngelList and some angel traders. The startup is planning to develop to Hyderabad, Mumbai, and Pune.
Gurugram-based fintech startup Xtracap Fintech India has raised $1 Mn in an angel spherical of funding from a clutch of US and UK-based traders. With the funds, the startup is planning to strengthen its tech infrastructure and ramp up distribution functionality.
Mumbai-based fintech startup HomeCapital has raised undisclosed funding in a spherical led by Varanium NexGen Fund with participation from Enterprise Catalysts, JITO Incubation and Innovation Basis, Singapore Angel Community, Enterprise Gurukool, Shalin Shah, amongst others. The startup will use the funding to develop operations and scale expertise infrastructure.
Noida-based Rural focussed insurtech platform GramCover has raised undisclosed funding in its Pre-Collection A funding from EMVC, Flourish, and Omidyar Community India. Current investor Omnivore additionally participated on this spherical. The startup plans to utilise the funds in the direction of its plan to cater to five Mn rural shoppers within the subsequent two years.
Logistics service supplier Blowhorn has raised an undisclosed debt funding from Trifecta Capital. With the raised capital, Blowhorn goals to construct an intra-city logistics tech firm by creating an asset-light, full-stack logistics market.
Startup Acquisitions This Week
- Bengaluru-based cab aggregator Ola’s electrical mobility unit Ola Electrical has acquired Amsterdam-based Etergo BV for an undisclosed quantity. Put up-acquisition, Etergo’s group will proceed to be based mostly out of Amsterdam as they be part of Ola Electrical.
- Switzerland-based agri-food funding agency Pioneering Ventures has acquired Mumbai-based agritech firm Lateral Praxis. The duo is but to reveal particulars of the transaction.
Different Developments Of The Week
- US-headquartered non-public fairness firm Foundation Vectors has raised $50 Mn for its first fund. The funding has are available in from Cianna Capital with participation from the UHNW household places of work of Rajesh Jain, founding father of Netcore, Abhishek Goel and Tracxn.
- Vodafone Concept is in talks with tech big Google to lift recent funds to ease money owed. Google may purchase as much as 5% stake in debt-laden Vodafone Concept.
- Masayoshi Son-led SoftBank is trying to increase $500 Mn – $750 Mn for SBG Cleantech, which is a three way partnership (JV) between SoftBank, India’s Bharti Enterprises and Taiwan’s Foxconn.
- Abu Dhabi state fund, Mubadala Funding Firm, is trying to make investments $1 Bn in Reliance’s Industries Restricted’s digital unit Jio Platforms.
- Tech big Microsoft is reportedly trying to be part of the parade of traders in Reliance Jio Platforms, with stories of a $2 Bn funding in Reliance’s digital companies firm.