Mergers, Acquisitions and Funding Round-up this week: August 26 to August 31

This week saw 31 startups that raised $490.32 million in total funding. The deals include 7 growth-stage deals along with 19 early-stage deals. However, almost 5 start-ups kept their transactions undisclosed. On the other hand, last week, 21 early and growth-stage startups had cumulatively raised $144.46 million in funding.

Zepto raises $340 million

The grocery start-up, Zepto has raised $340 million from General Catalyst after just two months after its last fundraise. This three-year-old company is valued at $5 billion, which is a sharp rise from $3.6 billion in June. The existing investors like StepStone, Lightspeed, DST, and Contrary also participated in the round.

Blue Tokai raises $35 million by Verlinvest

Blue Tokai, which is a speciality coffee and bakery brand has secured funding worth $35 million from Verlinvest. The round was a Series C funding round which also saw participation from existing investors Anicut Capital and A91 Partners. The investment is likely to make its presence deeper in the metro cities, as per the reports.

Yubi raises $90 million 

Digital credit facilitating platform Yubi secured a Rs 250 crore equity infusion from its founder and chief executive Gaurav Kumar. 

AGRIM raises $17.3 million by Asia Impact SA

Agrim, a B2B platform for agri-inputs, has raised $17.3 million from an investment advisor Asia Impact SA. This Series B funding round also witnessed the participation of the existing investors Kalaari Capital, Omnivore, India Quotient, and Accion Venture Lab. 

Servify raises Rs. 84 crore from multiple investors

The post-sales service firm Servify has raised Rs. 84 crore, which is approximately $10 million from Bajaj Holdings. This transaction was raised in the Series D round with other investors as well namely, Trifecta, and Innoven Capital in a mix of equity and debt. The Servify board has also passed a special resolution to issue 500 non-convertible debentures.

Mergers and Aquisitions

• VerSe Innovation, the parent company of Dailyhunt and Josh, has acquired Valueleaf Group, a digital marketing firm in a cash-and-stock deal.
• Accel-backed mobile and web software testing platform BrowserStack has acquired Bird Eats Bug, a Berlin-based bug reporting startup in a $20 million deal.
• ANSR, a business consulting company, has acquired an HCM platform, hrEntries to strengthen its capabilities for global team management. 
• A listed blockchain and IT development company Yudiz Solutions has acquired a majority stake in ABCM App Private Limited, which is a consultancy and technology solutions company.
• GRM Overseas which produces, sells, and exports rice and paddy has acquired a 44% stake in Rage Coffee, a D2C food and beverage brand.

Other news

• Visa, the digital payments giant, and The Tourism & Hospitality Skill Council have come to an agreement to upskill at least 20,000 youth in skill for the tourism sector.
• Mastercard, which is a global leader offering payment card services, has recently announced a partnership with boAt to introduce tap-and-pay functionality.