Welcome back to India Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in India from last week.
In this edition, we will cover funding rounds of MediBuddy, Niyo, Facilio, and more. In exits, we will cover the acquisition of Fintellix by TransUnion among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $383 million of funding across 26 funding rounds during this week.
In a major funding round event, MediBuddy, a HealthTech startup, raised $125 million in a Series C funding round led by Quadria Capital and Aspada Investments with participation from Stride Ventures, FinSight Ventures, Alteria Capital, and others. MediBuddy is a provider of app-based healthcare services. MediBuddy enables users to search for healthcare providers, book services like lab tests, health checkups and medicine deliveries, and schedule follow-ups with doctors across multiple medical specialities. Founded in 2013 by IIT Madras alumni, Bangalore-based MediBuddy has raised $211 million till date.
FinTech startup, Niyo, raised $100 million in a Series C funding round led by Accel and Lightrock with participation from Beams, JSCapital and Prime Venture Partners. Niyo is a digital bank. Niyo offers a zero balance account with features like account opening, salary advance, and free accidental death insurance. Niyo also provides foreign currency exchange solutions and deposit in the account options through NEFT and IMPS, as well as a tax-saver card that maximises the take-home salary of employees and enables users to track, manage and claim employee benefits like food, gifts, fuel, travel, and phone services. Niyo offers an app for iOS and Android devices. Founded in 2015 by IIM Calcutta alumni, Bangalore-based Niyo has raised $149 million till date.
Chennai-based Facilio, a Real Estate and Construction Tech startup, raised $35 million in a Series B funding round led by Dragoneer Investment Group with participation from Accel, Brookfield Asset Management and Tiger Global Management. Facilio is a provider of SaaS-driven facility operations and maintenance software. Facilio offers software for preventative and predictive maintenance, the management of work orders, assets and space, IoT- driven analytics, HVAC monitoring, and fire safety. Facilio enables facility managers to get access to real-time data, collaborate with team members, track asset performance, manage space and maintenance issues, and schedule maintenance and inspection. Founded in 2017, Facilio has raised $42 million till date.
In another funding round event, Transportation and Logistics Tech startup, Shipsy, raised $25 million in a Series B funding round led by A91 Partners and Z3Partners with participation from Info Edge and Surge. Shipsy is a provider of AI-enabled multi-modal transportation management software. Shipsy offers web-based software for rate procurement, container tracking, shipment tracking, and delivery management. Shipsy also offers solutions for route optimisation, route planning and scheduled planning. Founded in 2015 by IIT Delhi alumni and IIT Madras alumni, Gurgaon-based Shipsy has raised $32 million till date.
InsurTech startup, Vymo raised $22 million in a Series C funding round led by Bertelsmann India Investments with participation from Sequoia Capital and Emergence Capital. Vymo is a provider of virtual assistants for sales representatives. Vymo also offers AI and cloud-based customer resource management software for field sales teams with features like management of leads, resources and sales, geo-tracking, activity detection, sales metrics and analytical reports. Founded in 2013, Bangalore-based Vymo has raised $45 million till date.
Bangalore-based Auto Tech startup, Ola, raised $20 million in a Series J funding round led by Arrow Capital and Axis Growth Avenues AIF. Ola achieved unicorn status on 25th December 2014 when it raised $210 million from SoftBank Group. Ola is a provider of app-based ride-hailing services. Ola enables users to provide location and passenger details, select the mode of transport, such as car, auto-rickshaw, or two-wheeler, and book rides. Ola includes features like real-time tracking, various payment options, in-app payments, membership services, and pay later options. Ola also provides bookings for outstation, corporate and local rides, as well as self-drive car rentals. Ola offers a mobile app for both Android and iOS devices. Founded in 2010 by IIT Bombay alumni, Ola has raised $4 billion till date.
This was all from the funding updates, moving on to the exits. India Tech observed 7 exits during the week of 27 Feb 2022.
Bangalore-based FinTech startup, Fintellix, was acquired by TransUnion for $515 million. Fintellix is a provider of analytics, risk and compliance solutions for banking. Fintellix offers an online platform for banks to extract data from internal and external data sources through adapters and provisions. Fintellix includes features like pre-packaged dashboards, reports, implementation accelerators, and a pre-built Banking Data Model. Fintellix enables financial institutions to comply quickly and at lower costs, and its risk product suite allows banks to create a risk governance system to permit risks within limits. Founded in 2006, Fintellix has raised $17 million till date from IDG ventures, Chiratae Ventures, Sequoia Capital, and others.
In another acquisition event, Benow, a Payments Tech startup, was acquired by Mosambee. Benow is a provider of UPI-enabled payment solutions for merchants and consumers. Benow allows merchants to accept cashless payments and send offers to customers, and allows consumers to make digital payments using UPI apps, credit and debit cards. Benow integrates all digital payments into a single mobile app for customers. Founded in 2016, Mumbai-based Benow has raised $3 million till date from JioGenNext, Santosh Pundlik Sankpal and Murali Vullaganti.
Gurgaon-based numberz, a FinTech startup, was acquired by Chargebee. numberz is a provider of AI-based solutions for accounts receivables and collection management. numberz offers solutions for tracking and collection of payments, customer management, workflow automation, accounts reconciliation, dispute management, cash forecasting, and integration with enterprise resource planning software. Founded in 2014, numberz has raised $5 million till date from Khosla Impact, Kae Capital, Sequoia Capital, and others.
Superset, an HR Tech startup, was acquired by Great Learning. Superset is a provider of a placement management solution for educational institutions. Superset automates the campus placement process, manages student data, and tracks student placement cycles through its platform. Superset includes features such as automated placements, process streamlining, data monitoring, and an end-to-end hiring gateway. Founded in 2016, Bangalore-based Superset has raised $1 million till date from Blume Ventures, Rahul Khemka, Kaushik Mohan, and others.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts to stay updated. If you have any feedback, please reachout to us at podcast@tracxn.com. Thank you for tuning in today, see you next week.
