canaan partners

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 LeadSquared, Leap Scholar, Appsmith, and more. In exits, we will cover the acquisition of Setu by Pine Labs, among others.

Starting with our deep dive into funding rounds, tech companies in India raised over $364 million of funding across 19 funding rounds during this week.

In a major funding round event, Bangalore-based Enterprise Applications startup, LeadSquared, raised $153 million in a Series C funding round led by WestBridge Capital with participation from Gaja Capital, IFC and Stakeboat Capital. LeadSquared is a provider of cloud-based marketing automation and sales productivity solutions. It enables businesses to capture, engage and convert leads from online marketing, create landing pages, segment leads, and send automated personalised emails to customers. Founded in 2011, LeadSquared has raised $191 million till date.

EdTech startup, Leap Scholar, raised $75 million in a Series D funding round led by Owl Ventures with participation from Paramark Ventures, Sequoia Capital, Steadview Capital, and others. Leap Scholar is a provider of guidance for admission and scholarships. Its platform offers assistance for students pursuing education abroad, such as counselling services, visa services, test preparation services, and education loans. Founded in 2019 by IIT Kharagpur alumni, Bangalore-based Leap Scholar has raised over $152 million till date.

Appsmith, a Bangalore-based Enterprise Infrastructure startup, raised $41 million in a Series B funding round led by Insight Partners with participation from Accel, OSS Capital, Canaan, and others. Appsmith is a provider of cloud-based solutions for the development of admin panels. Its features include feedback and reports, collaboration, bug reporting, user interface creation, identity management, and API integration. Founded in 2019, Appsmith has raised over $51 million till date.

In another funding round event, Auto Tech startup, Statiq, raised over $25 million in a Series A funding round from Shell Ventures. Statiq is a provider of electric vehicle charging solutions. It enables users to locate nearby charging stations and book slots using the app. Its charging stations are located at parking places like office parking, shopping malls, residential apartments and restaurant parking spaces. Founded in 2019, Gurgaon-based Statiq has raised over $27 million till date. 

Online Grocery startup, WayCool, raised $25 million in a funding round led by 57 Stars. WayCool is an online distributor of farm products. It procures fruits, dairy, and vegetables directly from farmers, aggregators, and cooperatives for supply to hotels, restaurants, retailers, and wholesalers. It also offers an app that enables clients to order food and produce. Founded in 2015, Chennai-based WayCool has raised close to $272 million till date.

This was all from the funding updates, moving on to the exits. India Tech observed 2 exits during the week of 26 Jun 2022.

Bangalore-based FinTech startup, Setu, was acquired by Pine Labs. Setu is a provider of open-banking aggregation APIs. It partners with financial institutions, creates accounts, and manages them. It routes the payment across networks and offers solutions for businesses in order to offer financial services to their customers. It also offers toll payment collection solutions. Founded in 2018 by IIT Madras alumni, Setu has raised over $18 million till date. 

In another acquisition event, Jalgaon-based Crop Tech startup, Jain Irrigation Systems, was acquired by Rivulis Irrigation. Jain Irrigation Systems is a manufacturer and distributor of irrigation equipment. Its product offerings include drip irrigation systems, sprinkler irrigation systems, PVC pipes, irrigation fittings, and greenhouse and lighting equipment. Founded in 1963, Jain Irrigation Systems has raised $690 million till date. 

This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts, Spotify, and Apple Podcast 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.

Welcome back to United Kingdom Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in the United Kingdom from last week. 

In this edition, we will cover funding rounds of Remember App and Taptap Send. In exits, we will cover the acquisition of Gyroscope by Novartis among others.

Starting with our deep dive into funding rounds, tech companies in the United Kingdom raised around $199.0 million of funding across 2 funding rounds during this week.

In a major funding round event, London-based EdTech startup Remember App, raised $134 million in a Series D funding round led by Saramin HR with participation from ARC & Partners. Remember App is the developer of a mobile app that provides daily flashcards for language learning. Remember App includes features like translation between multiple languages, thematic card sets, and auto-suggestions. Remember App provides an app for iOS platforms. Founded in 2016 by an ex-Facebook employee, Remember App has raised $134 million till date.

FinTech startup Taptap Send raised $65 million in a Series B funding round led by Spark Capital with participation from Wamda Capital, Heroku, Canaan Partners, and others. Taptap Send is the provider of an app-based digital wallet for cross-border money transfers. Taptap Send allows users to send, receive, and store funds across borders with a debit card. Taptap Send provides an app for iOS and Android devices. Founded in 2017 by Harvard University alumni, London-based Taptap Send has raised $80 million till date.

This was all from the funding updates, moving on to the exits. United Kingdom Tech observed 4 exits during the week of 26 Dec 2021.

Gyroscope, a Genomics startup, was acquired by Novartis. Gyroscope is a developer of gene therapies for eye diseases. Gyroscope offers a novel retinal gene therapy aimed at delivering a targeted, one-off treatment for the progressive visual impairment caused by dry AMD by locally modulating complement activity. Founded in 2016, Gyroscope has raised $255 million till date from Tetragon, Sanofi, Cambridge Innovation Capital, and others.

Bristol-based Brightpearl, a Retail tech startup, was acquired by Sage Group for $360 million. Brightpearl is a SaaS-based omni-channel retail management software provider. Brightpearl enables the management of orders, inventory, financials, POS, CRM, and real-time accounting to automate the back office for omnichannel brands, retailers, and wholesalers. Brightpearl also offers accounting, shipping & fulfillment, payment, warehouse management, and more. Brightpearl also offers platform integration with Amazon, Spotify, Big-commerce, and eBay. Founded in 2007, Brightpearl has raised $84 million till date from Silicon Valley Bank, Eden Ventures, and Mountain Star Capital.

Healthcare Tech startup Push Doctor was acquired by Square Health. Push Doctor is a provider of video-based online doctor consultations. Push Doctor is a mobile or web-based platform which allows users to consult a general physician through video. Push Doctor allows the user to book on-demand appointments for online consultations, receive online prescriptions and avail of home delivery of medicines. Founded in 2013, Birmingham-based Push Doctor has raised $77 million till date from Accelerated Digital Ventures, Seventure Partners, and Celeres Investments.

In another major development this week, Aptamer Group, a York-based Life Sciences startup went public. Aptamer Group was founded in 2008 and has raised over $2 million across several funding rounds. Major investors who backed the company in its early stages include enterprises like BIF and Meneldor.

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.

Michael Gilroy grew up dreaming of becoming a professional athlete, then a hedge fund manager, and finally a venture capitalist. He achieved his goal of becoming a Partner at Canaan, a prominent VC in San Francisco. Michael shares how a couple of traumatic experiences shaped his priorities, what he looks for in the companies he funds, and how he works to stay centered.