Tala Raises $ 145 Million, Pharmeasy Raises $ 350 Million In Pre-IPO Round, Report Says Sun Mobility Secures $ 50 Million And Credible $ 30 Million Bags In Funding series B
Here’s a look at the best startup space deals this week.
Tala raises $ 145 million in Upstart-led funding round
Fintech firm Tala has raised $ 145 million in a Series E funding round, led by Upstart with participation from the Stellar Development Foundation.
New investors Kindred Ventures and The J. Safra Group, as well as existing investors including IVP, Revolution Growth, Lowercase Capital and PayPal Ventures, also joined the round, bringing Tala’s total funding to over $ 350 million. dollars.
Tala will use this investment to accelerate the rollout of its new financial account experience through Tala’s consumer credit app. It will also grow its world-class team in Kenya, India, the Philippines, Mexico and the United States, and develop geographic and product expansion plans, including crypto offerings, the company said in a statement. communicated.
PharmEasy raises $ 350 million in pre-IPO: report
IPO-linked online medical store PharmEasy raised nearly $ 350 million before filing its draft red herring prospectus (DRHP), according to Economic Times.
The company closed nearly $ 204 million (over Rs 1,505 crore) in primary funding from Singapore’s Amansa Capital, Blackstone-backed hedge fund ApaH Capital, US hedge fund Janus Henderson, OrbiMed , Steadview Capital, Abu Dhabi sovereign wealth fund ADQ, hedge fund Neuberger Berman and London’s Sanne group, the report adds.
Nearly 20 senior employees bought shares worth $ 5 million as part of the secondary sale, while early investors sold their stakes in the company and the IIFR’s tech fund took over. a part.
SUN Mobility raises $ 50 million from Vitol
Electric vehicle energy infrastructure company Sun Mobility has closed a $ 50 million financing by Vitol, a global independent energy trader and investor in zero-emission and renewable energy assets.
This strategic investment by Vitol will enable a significant acceleration and expansion of Sun Mobility’s services in India and select global markets, the company said in a statement.
He added that he plans to expand his presence to all major cities by increasing the number of exchange points (battery exchange stations), partnering with various OEMs, collaborating with various fleet operators. and distributors to introduce new business models and add more vehicles to its ever-expanding Mobility as a Service (MaaS) offering.
Fintech Startup CredAble Secures $ 30 Million Series B Funding
Fintech startup CredAble has raised $ 30 million in its Series B funding round, co-led by Plutus Wealth Management LLP and associates and existing investor Oaks Asset Management.
The company will use the funds to improve its platform to innovate and penetrate deeper into the ecosystem to provide tailor-made working capital solutions for small businesses, she said in a statement.
The company also aims to create innovative debt capital market products for businesses and financial institutions, he added. With this funding, the total funds raised by CredAble in equity financing amounts to approximately $ 40 million to date.
Cloud-based SaaS Labs platform pockets $ 17 million in Series A
The cloud-based SaaS Labs platform has pocketed $ 17 million in its Series A funding round from San Francisco-based startup venture capital firm Base10 Partners and Eight Roads Ventures.
The startup, which operates in India, the Philippines and the United States, will use the new capital to expand its customer base, hire and launch new products and services. The company is looking to double its team of 70 members by the end of the year.
Founder Gaurav Sharma said the company has seen an “unprecedented acceleration” in cloud adoption by SMEs over the past 12 months.
Agritech startup FarMart wins $ 10 million from Matrix Partners India
B2B SaaS food supply platform FarMart has pocketed $ 10 million in its Series A funding round led by Matrix Partners India.
The cycle also saw the participation of Innoven Capital and existing investors Omidyar Network India, Avaana Capital and 500 startups. Angel investors participating in the tour include Amit Lakhotia (Founder, Park +), Jitendra Gupta (Founder and CEO, Jupiter), KP Balaraj (Ex-Founder, WestBridge Capital and Sequoia Capital India), OfBusiness Founder’s Fund, Revant Bhate and Dhyanesh Shah ( Co-Founders, Mosiac Wellness) among other renowned angel investors.
Funds raised will be used to expand FarMart’s distribution network across the country, expand product capabilities and grow the team, the company said in a statement.
Neobank Fi targets $ 200 million valuation in new funding round: report
Banking startup Fi, founded by former Google Pay executives, is in talks to raise around $ 50 million, which quadruples its valuation to $ 200 million, sources told Moneycontrol.
The startup is in talks with Falcon Edge Capital and B Capital to lead the round, while existing investors Sequoia India, Ribbit Capital and Hillhouse Capital will also participate.
According to the report, although Fi does not have a banking license, it has partnered with the Federal Bank to get customers to open bank accounts, while Fi manages the app and associated services. Fi is part of a slew of neo-banking startups looking to disrupt traditional banks, which are heavy offline, often don’t have enough digital presence, and run on cumbersome and sometimes bureaucratic processes.
Questt Raises $ 6.75 Million From Celesta Capital, Premji Invest And Others
The startup Edtech Questt has raised $ 6.75 million (Rs 50 crore) in funding, led by Celesta Capital and Premji Invest.
Existing investor Chiratae Ventures has increased its stake in Series A, while other existing investors, including AET Fund, MarsShot Ventures, Titan Capital and First Check, continue to remain invested in the company, according to a statement.
Questt plans to use the funds from this round to develop in-depth technological capabilities to increase its user base, he added.
MarketWolf secures $ 5.5 million in funding round
MarketWolf, an intra-day-only options trading app, has raised $ 5.5 million in seed funding from a group of leading individual investors.
These investors include Anil Thadani (president of Symphony Asia), Ashutosh Sinha (former CEO of Morgan Stanley Investment Management Singapore), Roy van Leeuwen (head of the Benelux region at Auto1), Tomas Urbanec (former CEO of Prudential Assurance Singapore), Anuj Srivastava and Ramakant Sharma (co-founders of Livspace).
MarketWolf had raised $ 1.7 million during its angel investor tour and has collected a total of $ 7.2 million to date. The latest funding will be used to create new products, expand the user base and attract top talent, the company said.
ConveGenius raises $ 5 million to launch ConveGenius AI
Social enterprise Edtech ConveGenius has raised $ 5 million in its pre-seed round led by new investors BAce Capital, Heritas Capital and 3Lines Venture Capital.
Existing investors Michael and Susan Dell Foundation also participated as part of the round.
The company will use the funds to launch its conversational artificial intelligence (AI) platform, ConveGenius.AI in India and global markets. Through ConveGenius.AI, the company seeks to horizontally extend its products across the Whatsapp ecosystem and other AI-based conversational channels, to serve more customers in different verticals and enable developers to launch their solutions on the platform.
Bites raises $ 5 million in seed funding
Bites, a player in the communications and employee training industry, has raised $ 5 million in its seed funding round.
The roundtable was led by Vertex Ventures Israel, an Israeli venture capital firm. Surround Ventures, an Israeli-American venture capital firm specializing in early stage media and e-commerce startups, Oryzn Capital, an Israeli firm focused on early stage investments, Lyra Ventures, a ASEAN which invests in retail technology companies; and J-Ventures, a Silicon Valley-based fund, also invested in the company.
“This money raised will support our R&D, sales and marketing efforts, as we execute our aggressive go-to-market plans by reaching out to retailers, consumer goods companies, healthcare providers and others. verticals, ”said Eran Heffetz, CEO of Bites. .