1947 Tech 🇮🇳: 172
Booming Indian tech ecosystem!
1. Monthly funding report: Indian startups raised $3.4 Bn in September
It’s been another bumper month with large pools of money flowing into the Indian startup ecosystem. Startups in India collectively raised $3.4 billion in September. This included 41 growth stage deals, 114 early-stage deals while investment in 40 startups remained undisclosed. Where Meesho and Cars24 alone mopped up over $1 billion, three startups — MPL, Vedantu and Apna — have attained unicorn status.
2. Indian social commerce Meesho raises $570 million at $4.9 billion valuation
Meesho has more than doubled its valuation in less than six months, to $4.9 billion, as a growing number of high-profile investors back the Indian social commerce startup that is reporting strong growth despite the pandemic.
The Bangalore-headquartered firm said on Thursday it has raised $570 million in its Series F financing round, following a $300 million Series E in April when it was valued at $2.1 billion. Fidelity and B Capital Group co-led the new financing round, bringing the startup’s all-time raise to over $1 billion.
Prosus Ventures, SoftBank Vision Fund 2, Facebook, Good Capital, Symphony International Holdings Limited, and Trifecta Capital also participated in the new round, which didn’t involve any secondary transaction, the startup’s co-founder and chief executive Vidit Aatrey told TechCrunch in an interview.
Worth your attention:
Tiger Global backs India’s OfBusiness at $3 billion valuation Link
Bengaluru-based online meat startup is India’s first D2C unicorn Link
Rebel Foods aims for a valuation of $1.5 billion Link
Ola Electric gets $200 million funding at $3 billion valuation Link
Indian edtech giant Byju’s valued at $18 billion in new funding Link
Swiggy eyes over $10 Bn valuation in new fundraise Link
CredAvenue raises $90 million in India’s biggest Series A funding round Link
MFine raises $48 million from Moore Strategic Ventures, BEENEXT, others Link
Amazon-backed buy now, pay later platform Capital Float raises $50 million Link
Cryptocurrency payments slowly gain ground in India Link