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

This week saw a lot of developments in the startup 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.

Hygenco raises Rs. 50 Crore from Trifecta

Cleantech startup Hygenco has raised Rs 50 crore, which is approximately $6 million from Trifecta through non-convertible debentures. This is the brand's first debt investment, and the board has passed a special resolution to issue 500 debentures.

Medial raises $500K  by Ortella Global Capital

Medial, a professional social media platform has raised $500K by Ortella Global Capital (OG Capital). This Bengaluru-based firm will use the money to create an integrated professional ecosystem for career growth and connections, as per the reports.

The Indus Valley raises funds through DSG

The D2C kitchenware start-up, The Indus Valley has raised Rs. 23.1 crore led by DSG Ventures. It was a pre-Series A round which marks the first investment for the firm. According to the reports, the brand has already received Rs. 18.62 crore from the defined amount while the remaining capital is expected to be given soon.

Money Club raises $2.5 million

On-demand liquidity platform The Money Club has raised $2.5 million in a Series A funding round led by Prudent Investment Managers. The round also saw participation from HNIs of Singapore and Dubai, 1Crowd AIF, and existing investors including Venture Catalysts, LetsVenture, Z21 Ventures, and Supermorepheus. The funds are likely to be utilised for deploying toward developing financial inclusion solutions.

Neuranics raises $700K by Inflection Point Ventures (IPV)

A healthcare diagnostics startup, Neuranics has raised $700K led by Inflection Point Ventures (IPV) in its seed round. As per the company, the funds will be used for technology development and clinical validation to enable the company for commercial production post-CDSCO licensing. 

Mergers and Acquisitions 

• Nodwin Gaming, a gaming and esports company has acquired Trinity Gaming at a valuation of Rs. 24 crore. 
• Cybersecurity landscape, Information Security Media Group (ISMG) has taken a majority stake in Nullcon.

Other Updates

• 'The Source Moscato' by Sula Vineyards earned the coveted Gold medal while Sula Brut and Sula Tropicale Rose were given Silver medals at Asian Sparkling Masters 2024.
• BharatPe has launched 'Shield' to secure UPI Payments in India.
• One Plus is planning to invest Rs. 6,000 crore in India over the next three years.
• Google has set up India's first Google Safety Engineering Centre in Hyderabad. 
• Moglix has partnered with DPIIT to boost manufacturing innovation in India.
• After the pilot survey, Myntra launched its quick e-commerce market M-Now which will deliver goods in 30 minutes.