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

This week saw significant developments in the startup landscape, with several companies securing funding to boost their operations. While mergers and acquisitions were few, investors have continued to show strong confidence in other sectors. Here’s a roundup of the latest funding and acquisition news.

Smallcase raises $50 million in series D round led by Elev8 Venture Partners

Fintech company, Smallcase, has raised $50 million in a series D round conducted by data-driven investment firm, Elev8 Venture Partners. The zeroda-backed company will use these funds to expand investment product offerings across asset classes and strengthen relationships with retail investors and ecosystem partners.

Aerem Bags Rs. 100 Crore from UTEC, BII & SE Ventures in Series A Round

Aerem, an end-to-end solar platform dedicated to simplifying solar adoption for businesses and households, secured Rs. 100 crore in a Series A round led by UTEC (University of Tokyo Edge Capital Partners), the Japan-based venture firm. This investment will further support Aerem’s mission to unlock India's vast distributed solar potential and accelerate the transition toward sustainable energy. "The funds will drive the company’s expansion across India and enhance its solar financing and marketplace solutions," said the brand.

Country Delight is set to raise $25 million from V-Sciences Investments

Dairy and daily essential brand Country Delight is about to raise its first equity round for 2025. The brand is supposed to secure Rs. 212.5 crore (approximately $25 million) in its Series E round from Temasek through V-Sciences Investments Pte Ltd, as reported by Entrackr. The proceeds will be used to meet the company’s working capital needs and other business requirements, according to filings.

Apna Mart raises $25 million 

Online grocery shopping app Apna Mart has raised $25 million (approximately Rs. 214.3 crore) from Fundamentum, Accel and other investors such as Peak XV Partners and Sparrow Capital. The round will be a mix of equity and debt. The start-up will use the capital to finance the general corporate activities of the company, a filing said.

DCDC Kidney Care raises ₹150 crore from ABC Impact

India-based healthcare organization specializing in dialysis and kidney care, DCDC Kidney Care, has secured an investment of Rs. 150 crore from ABC Impact, an Asia-focused impact investor backed by Temasek. With the help of ABC's investment, DCDC plans to expand and open more than 150 clinics nationwide in the upcoming months. 

Grow Indigo gets investment of $10 million from British International Investment

British International Investment (BII), an investment round supported by the UK government, has contributed $10 million to the agritech start-up Grow Indigo. The money will be utilised by the brand to scale carbon farming projects, increase farmer enrolment, and broaden sustainability programs throughout India.

Curefoods to raise Rs. 54 Crore from BlackSoil Group

Curefoods, a multi-brand cloud kitchen chain, is set to receive an investment of Rs. 54 crore from BlackSoil Group, with additional participation from Binny Bansal and Caspian Investments. The funds will be raised in debt,  financing, marking the brand's first debt round of the year. The company plans to use the money for working capital requirements and business expansion.

Scapia raises $40 million in Series B round led by Peak XV Partners

Scapia, a travel fintech start-up, has secured a $40 million investment in a Series B round led by Peak XV Partners. Existing investors, Elevation Capital, Z47, and 3STATE Capital, also participated in this round. The company said it will use the capital to expand its team, accelerate product development in travel and financial services, and invest in AI. 

Pratilipi raises $20 million in a Series E round

Digital storytelling platform Pratilipi raised $ 20 million in a Series E round led by Jungle Ventures. The proceeds of this fundraising campaign will help the platform expand into other narrative mediums, such as animation and vertical drama series. Additionally, it will make it easier for it to expand outside of India. 

Mergers and Aquisitions 

• Indian workforce-mobility platform, BorderPlus, has acquired Onea Care, a German healthcare-recruitment firm.
• Eureka Analytical Services (Eureka), a subsidiary of the GBA Group, has acquired a majority stake in Teena Biolabs (Teena), a pharma analytics service provider in India. The acquisition strengthens Eureka's pharma analytical capabilities with two US-FDA-approved sites and is consistent with the GBA Group's global expansion plan.
• SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, will be acquiring its incubated venture, Solv India, by Jumbotail. Jumbotail and Solv India combined will become a strong, multi-category B2B ecommerce platform that supports the diverse commerce and fintech needs of India’s small retailers (kiranas), as well as micro, small and medium enterprise (MSME) entrepreneurs, helping them compete effectively in the modern age. 
• South Korean video game publisher and holding company, Krafton, acquires Controlling Stake in Nautilus Mobile, an Indian game development studio. The controlling stake is valued at $14 million in an all-cash deal, solidifying Krafton's commitment to the country’s rapidly growing gaming market.
• Chargebee, a software company that helps businesses manage revenues and aid in customer retention, has acquired Trainn, an AI-first customer tracking platform. 

Other News 

• Co-founders of Meesho, Vidit Aatrey and Sanjeev Barnwal, have exercised a significant number of employee stock options in a strategic move ahead of the company's IPO launch. 
• UPI transactions surge 13.6% in March. The NPCI data shows that this is a 36% year-over-year increase and a 13.6% month-over-month growth.
• Groww, a fintech startup, has received approval from the Competition Commission of India (CCI) to issue bonus shares to its existing equity shareholders, in preparation for its IPO. 
• Commerce Minister Piyush Goyal asked Indian startups to shift their focus from food delivery apps to high-tech sectors like semiconductors and AI, asking, "Dukaandari hi karni hai?"