1947 Tech Newsletter 🇮🇳

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1947 Rise ☀️: 223

1947tech.substack.com

1947 Rise ☀️: 223

PhonePe seeks to raise $1 billion

shiva singh sangwan
Dec 12, 2022
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1947 Rise ☀️: 223

1947tech.substack.com

1. Temasek backs India’s HealthKart in $135 million funding

Indian consumer nutrition platform HealthKart has raised $135 million in a new financing round as it looks to expand in international markets and shore up cash to buy firms, it said Monday.

Temasek led the Gurgaon-headquartered firm’s Series H funding, valuing the 11-year-old startup at about $350 million. The startup, which also counts Sequoia India, Sofina and IIFL among its backers, has raised about $225 million to date, according to market research firm Tracxn.

HealthKart, which sells protein supplements and health accessories, said it is currently on track to generate over $122 million in annual revenue.

Temasek backs India's HealthKart in $135 million funding

2. India’s Blume Ventures more than doubles in size, raises over $250 million for new fund

Indian venture firm Blume has raised more than $250 million for a new fund, its fourth and largest.

Blume Ventures — which handles over $600 million in assets under management — will deploy the larger fund to back about 35 startups, up from 25 in the previous fund.

Its portfolio includes Unacademy, Slice, Spinny, Dunzo, Classplus, Servify, Exotel, LambdaTest, Smallcase, Euler and Pixxel.

India’s Blume Ventures more than doubles in size, raises over $250 million for new fund


A podcast:

1947 Rise Operator-angels podcast with Mohit Sadaani, Co-founder at The Moms Co. (India’s largest D2C exit)


We covered:

- What drove Mohit into angel investing
- First few angels in the Moms Co
- How does he source deals and evaluate founders
- How to leverage your cap table
-Thought process of having Sonam Kapoor as the Brand Ambassador
- Advise for operator investors
- Luck
- Money
- Who is he outside of work

& more!

Full conversation ☀️ https://bit.ly/3HyffwL

A tweet:

Twitter avatar for @1kunalbahl
Kunal Bahl @1kunalbahl
Absolutely incredible feeling that in my lifetime, 🇮🇳 is going from 13th to 3rd largest economy in the world. My kids will surely see us becoming the 2nd largest economy. From 1-1700 AD, 🇮🇳 was a top 2 economy w/ ~30% global GDP. 🇮🇳's golden era beckons again after 300 years 🌟
Image
5:00 AM ∙ Dec 12, 2022
78Likes15Retweets

Worth your attention:

  1. PhonePe seeks to raise $1 billion: report Link

  2. ADIA in advanced talks to invest $400 million in Lenskart Link

  3. Softbank-backed Snapdeal defers ₹1250 crore IPO Link

  4. Investcorp to lead $45 mn round in Wakefit at $303 mn valuation Link

  5. B2B edtech startup Uolo raises $22.5 million in funding led by Winter Capital Link

  6. RENÉE Cosmetics raises $25M in Series B funding Link

Thank you for reading. Please share any feedback, questions or comments with me on Twitter :)

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