With fewer mergers, this week, however, saw major developments in the start-up 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 and updates.
Foxtale raises $30 million
Image Courtesy: Foxtale
The skincare brand, Foxtale has raised $30 million, as close to Rs. 250 crore in a round led by Japanese beauty products company Kose Corporation. The existing investors like Z47 (previously Matrix Partners India), Kae Capital and Panthera Growth Partner also participated in the round. The brand is looking forward to deploy the fresh capital for new categories across online channels.
Avendus Group raises Rs. 850 crore
Image courtesy: Avendus
Avendus Group, the financial services firm has raised Rs. 850 crore, close to $100 million of its Future Leaders Fund III (FLF III). The funds are expected to be used for teh investment in around 12 to 14 companies to focus on the sectors such as financial services, health care, technology, consumer goods, and manufacturing.
KisaanSay raises $2 million by Jungle Ventures
Iamage Courtesy: KisaanSay
KisaanSay, a direct-from-origin food brand, has raised $2 million from Jungle Ventures in its pre-seed round. According to reports, senior industry leaders also participated in the round. The funds will be used to strengthen the marketing efforts, build a team, and scale operations. Moreover, the company is looking forward to expanding its product portfolio and distribution footprint.
TyrePlex raises Rs. 20 Crore
Image Courtesy: TyrePlex
TyrePlex, B2B tyre marketplace has raised Rs. 20 crore, as close to around $2.4 million from PeerCapital, in a funding round. Other investors like Tiitan Capital Winners Fund, Sattva Family Office, and existing investors, including 100 Unicorns also participated in the round. The funds will be utilised to expand its geographic footprint into 25 cities across India.
OrbitAID raises $1.5 million by Unicorn India Ventures
Image Courtesy: OrbitAID
The space-tech start-up OrbitAID has raised $1.5 million by Unicorn India Ventures, in a pre-seed round. The round also saw the participation from the Tamil Nadu Startup and Innovation Mission. As per the reports, the company is planning to use the funds to conduct an in-space demonstration of docking and refueling operations and to also work towards the expansion of facilities for on-orbit servicing.
Mergers and acquisitions
- Pepsico is planning to acquire a majority stake in Haldiram’s, an Indian brand.
- Adani Group is in conversation with Dubai-based Emaar for a majority stake in its Indian segment for Rs. 5,000 crore.
Other News
- Third launchpad to come up soon at Sriharikota with an investment of Rs. 3,985 crore.
- India becomes 4th country to achieve space docking as ISRO docks two satellites under SpaDex mission 3. Riceburg Ventures launches $20 million fund to support deep-tech start-ups.