loco

Anirudh is an investment banker who returned to India to build a business around Bollywood content. He built Pocket Aces which makes viral video content for young India. In the quest to not be reliant on social platforms for distribution, he ended up creating Loco. Loco is India’s leading live-streaming platform for gamers and has raised more than 50 mn dollars to date.

Know about:-

• Changing trends in the content landscape
• Launching Dice Media
• Hypercasual games becoming short-form experience
• Fundraising journey

Jake Loco is a conspiracy enjoyer, literary explorer, and a curious soul eager to investigate new paradigms. He’s currently working as a high school English teacher and interviewing a variety of fascinating characters on the Loco Listens Podcast, a show where YOU can speak your truth and Loco will Listen.

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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 Money View, Captain Fresh, Loco, and more. In exits, we will cover the acquisition of Don't Memorise by Infinity Learn, among others.

Starting with our deep dive into funding rounds, tech companies in India raised around $308 million of funding across 24 funding rounds during this week.

FinTech startup, Money View, raised $75 million in a Series D funding round led by Tiger Global Management, Winter Capital, Evolvence India, Accel, South Park Commons, Trusted Insight and Dream Incubator. Money View is a provider of an app-based platform for personal loans. Money View offers loans on the basis of credit assessments through its Android app, with features like expense management, loan tenure selection, an EMI calculator, amount dashboard and document upload. Founded in 2014 by IIT Delhi alumni, Bangalore-based Money View has raised $128 million till date.

Captain Fresh, a Hyderabad-based Online Grocery startup, raised $50 million in a Series C funding round led by Prosus and Tiger Global Management with participation from Accel, Ankur Capital and Matrix Partners India. Captain Fresh is a B2B platform offering seafood products. Captain Fresh wholesale trades seafood with features like integrated shipping, payment protection, and quality assurance services, with the use of deep technology to provide a rapid harvest-to-retail solution. Captain Fresh offers an Android app. Founded in 2019, Captain Fresh has raised $109 million till date.

In another funding round event, Mumbai-based Media and Entertainment startup, Loco, raised $42 million in a Series A funding round led by Hashed with participation from Hiro Capital, Makers Fund, Korea Investment Partners, and others. Loco is a live-streaming platform for video games. Loco allows users to play and live stream games like Free Fire, PUBG, Valorant, and GTA V. Loco offers an app for Android devices. Founded in 2020, Loco has raised $51 million till date.

Gurgaon-based Otipy, a Crop Tech startup, raised $32 million in a Series B funding round led by WestBridge Capital with participation from Omidyar Network India and SIG. Otipy offers a platform for farmers to retail fruits and vegetables directly to consumers. Otipy includes features like on-demand ordering and harvesting, order and delivery management, payment tracking, store code registration, QR code-based source farm tracing, and earnings management. Otipy provides an app for both Android and iOS platforms. Founded in 2020 by IIT Delhi alumni, Otipy has raised close to $45 million till date.

FinTech startup, Zeta, raised $30 million in a Series C funding round led by Mastercard. Zeta achieved unicorn status on May 24th 2021 when it raised $250 million from SoftBank Vision Fund. Zeta is a cloud-based payment and banking solution for enterprises. Zeta includes features like payment collection from vendors, clients and consumers, employee payment management, as well as multiple solutions for banks such as a card issuance system, payment authentication system, virtual cards and wallets. Zeta also provides a software suite for launching neobanks and facilitating loan processing. Founded in 2015 by BITS Pilani alumni, Bangalore-based Zeta has raised $350 million till date.

In another funding round event, Bangalore-based Enterprise Infrastructure startup, 100ms, raised $20 million in a Series A funding round led by Alpha Wave Global with participation from Accel, LocalGlobe, Matrix Partners India, and others. 100ms is a provider of cloud-based, white-label video conferencing software. 100ms includes features like video parameters management, participant count, in-built real-time database management, maintaining participant roles, video games, shared shopping cart states, and customisable templates. Founded in 2020 by IIT Bombay alumni, 100ms has raised over $24 million till date.

This was all from the funding updates, moving on to the exits. India Tech observed 5 exits during the week of 13 Mar 2022.

Mumbai-based EdTech startup, Don't Memorise, was acquired by Infinity Learn. Don't Memorise offers online courses in maths and science. Don't Memorise is a video-based learning platform, with features like online quizzes for practicing problems, a student forum for discussion with other students, and bite-sized videos on various topics like vocabulary, high school and middle school maths, as well as CBSE and ICSE curriculum. Don't Memorise was founded in 2012. 

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.