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

India’s startup and business landscape saw significant developments this week, including strategic acquisitions by SNVA EduTech and TBO Tek, alongside IPO approvals for Capillary Tech and WeWork India. Additionally, PhonePe and Mastercard introduced tap-and-pay contactless payments, while Zype reported a 5X revenue growth. These moves underscore the dynamic growth and innovation in the Indian business ecosystem.

UNLEASH Capital Closes Rs. 300 Crore Maiden Fund

Japan-based venture capital firm UNLEASH Capital has successfully closed its maiden fund, raising Rs. 300 crore. The firm aims to support innovative startups, primarily in sectors like deep tech, AI, and sustainability. This fund is expected to fuel the growth of emerging companies, focusing on markets across Asia, with an emphasis on disruptive technologies.

Ironclad Asset Management Launches Rs. 200 Cr ESOP-Focused Fund

Ironclad Asset Management has launched a new Rs. 200 crore fund that is tailored specifically for employee stock option plans (ESOPs). The fund is designed to assist venture-backed startups in managing and liquidating their ESOPs, offering employees greater liquidity. The move comes as part of a growing trend to improve the financial wellbeing of startup employees.

Ignosis and Climaty AI Raise Funding for Growth

Ignosis, a health tech company, and Climaty AI, an artificial intelligence startup focusing on climate solutions, have both secured significant funding. This infusion will help them scale their innovative solutions, with Ignosis using the funds for further product development and Climaty AI focusing on expanding its presence in the sustainable tech sector.

Fyno Raises $4M Seed Round for AI-Powered Enterprise Messaging Expansion

Fyno, a startup specializing in AI-driven enterprise messaging, has raised $4 million in a seed round. The company aims to enhance its communication platform for businesses by leveraging AI to streamline workflows, improve customer service, and enable seamless messaging within enterprise ecosystems.

Hiranandani Financial Services Raises Rs. 800 Crore in Maiden Funding

Hiranandani Financial Services, part of the Hiranandani Group, has raised Rs. 800 crore in its first funding round. The company plans to use the capital to expand its offerings in fintech and investment management, providing innovative solutions to both retail and institutional clients.

D2C Brand Kapiva Raises $60 Million in Series D; Fireside Ventures Exits

Kapiva, a direct-to-consumer wellness brand, has raised $60 million in a Series D funding round, marking a significant milestone in its growth. Fireside Ventures, an early investor, has exited the company as part of the transaction. The funds will be used to further expand its product portfolio and strengthen its market presence.

Ice Cream Brand Hocco Raises Rs. 115 Crore at Rs 2,000 Crore Valuation

Hocco, a rapidly growing ice cream brand, has raised Rs. 115 crore in funding, achieving a valuation of Rs. 2,000 crore. The company plans to use the capital to expand its distribution network and introduce new products to cater to the evolving tastes of Indian consumers.

Mergers and Acquisitions

• SNVA EduTech has acquired three entities from Veranda Learning to create global pathways for learners, expanding its educational offerings.
• TBO Tek has completed the $125 million acquisition of Classic Vacations, enhancing its global travel and vacation portfolio.
• The NCLT has approved the cross-border merger of Star Television Productions with Jio Star, creating a media powerhouse.

Other News

• The Reserve Bank of India (RBI) has introduced a framework allowing banks to finance domestic mergers and acquisitions.
• WeWork India’s initial public offering (IPO) opens on October 3, aiming to raise capital for expanding its co-working space offerings.
• Capillary Tech has received approval from SEBI to go public with its upcoming IPO.
• PhonePe and Mastercard have launched tap-and-pay contactless payments, enhancing digital transaction convenience in India.
• Zype, a three-year-old startup, has seen its revenue soar 5X to Rs. 101 crore in FY25, marking impressive growth in its sector.