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

This week saw notable developments in the startup ecosystem, with several companies securing funding to drive growth and expansion. Investors continue to show confidence across various sectors, including health food, wealth management, and deep tech. Meanwhile, mergers and acquisitions remain active. Here's a roundup of the latest funding, acquisitions, and other significant news.

The Whole Truth secures $15 million from Belgian investment fund Sofina

The Whole Truth, a health food brand, has raised $15 million in funding, led by Belgian investment fund Sofina. The funds will help the company expand its manufacturing, hire new talent, and boost growth.

NOTO Ice Cream raises Rs. 15 Cr, plans for pan-India expansion

NOTO Ice Cream has raised Rs 15. crore in funding to expand its presence in Tier I and II cities. The brand will also focus on launching new flavours, formats for the summer season, and enhancing its presence on quick commerce platforms.

Natural pet treat brand Dogsee Chew raises $8 Mn in Series B round

Dogsee Chew, a natural pet treat brand, has raised $8 million in Series B funding led by Ektha.com. The funds will be used to expand manufacturing and strengthen its international presence, particularly in the U.S. and Canada.

Waterfield Advisors raises $18 million from Jungle Ventures

Waterfield Advisors, a wealth management platform, has raised $18 million from Jungle Ventures. The funds will be used to grow the company’s operations throughout India.

Deeptech startup Probus raises $5 million led by Unicorn India Ventures

Probus, a DeepTech startup specialising in smart grid applications, has raised $5 million in a Series A1 funding round led by Unicorn India Ventures. The funds will help scale its technology for smart grids and renewable applications, as well as expand its AI capabilities.

Lightstorm raises Rs. 700 cr to expand fibre connectivity

Lightstorm has raised Rs. 700 crore in funding from the National Investment and Infrastructure Fund (NIIF) to expand its fibre connectivity. The company aims to invest in areas such as AI data centres, digital highways, and undersea cable landings to compete with major players like Bharti Airtel and Reliance Jio.

Spyne raises $16 million Series A to drive US expansion, AI innovation

Spyne has raised $16 million in Series A funding to drive its US expansion and develop AI solutions for the automotive retail sector. The company plans to enhance its platform and expand its presence in global markets, including Europe, the Middle East, and Asia-Pacific.

DaaS platform Swish Club raises $4.5 Mn in pre-Series A

Swish Club, a Devices-as-a-Service (DaaS) platform, has raised $4.5 million in a pre-Series A funding round, with $3.3 million in equity and $1.2 million in debt. The company offers enterprise device management solutions and has onboarded over 125 clients, including Max Life and PepsiCo.

IPO-bound Udaan raises $75 million from M&G, Lightspeed, and others

Udaan, a B2B e-commerce company, has raised $75 million in Series G funding as it prepares for an IPO. The funds will enhance customer experience, market penetration, and supply chain capabilities.

Rare Rabbit nears Rs. 650 Cr revenue in FY24, profit surges 2.3X

Rare Rabbit, a premium men's fashion brand, is expected to achieve Rs. 650 crore in revenue for FY24, with a 69% growth. Its profit surged by 2.3 times to Rs. 75 crore, as the company expanded and managed costs efficiently.

Mergers and Acquisitions

• WLDD is negotiating to acquire ScoopWhoop from the Good Glamm Group for around Rs. 18-20 crore 
• Yuma Energy has acquired Grinntech, a Chennai-based start-up specialising in battery design and energy storage solutions, to strengthen its Battery-as-a-Service (BaaS) ecosystem
  

Other News

• GalaxEye, a UK-based satellite imaging company, has successfully retrieved its payload from the 'Bermuda Triangle of space,' an area known for high radiation levels that can damage satellites