Nov 29, 2021 - Spinny raised $280 million, mChemist got acquired by Akos
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 Spinny, NoBroker, GreytHR, and more. In exits, we will cover the acquisition of uTrade by Share India among others.
Starting with our deep dive into funding rounds, tech companies in India raised around $586 million of funding across 25 funding rounds during this week.
Delhi-based auto-ecommerce startup, Spinny, raised $280 million in a Series E funding round led by Tiger Global Management and ADFD, with participation from Arena Holdings and Avenir Growth Capital. With this funding round, Spinny became the 39th Indian startup to join the coveted Unicorn Club in 2021. Some of the other startups that have joined the club in the last three months are PharmEasy, NoBroker, and CRED. Spinny is an online outright buyer of used cars. Spinny's platform enables sellers to list their cars, schedule inspections & get an offer for their car. Spinny's platform also enables buyers to browse through the online inventory, select a car of their choice, and schedule a test drive. Founded in 2015 by IIT Delhi alumni, Spinny has raised around $516 million till date.
Bangalore-based real estate tech startup, NoBroker, raised $210 million in a Series E funding round led by General Atlantic, with participation from Moore Venture Partners, and Tiger Global Management. With this funding round, NoBroker became the 40th Indian startup to join the coveted Unicorn Club in 2021. NoBroker is an online P2P listing platform for residential and commercial properties. NoBroker's platform enables users to search for properties by applying the location filter and property owners can list their properties by providing necessary information online. Founded in 2014 by IIT Bombay and IIM Ahmedabad alumni, NoBroker has raised around $363 million till date.
Food Tech startup, Biryani By Kilo, raised $35 million in a Series B funding round led by Falcon Edge Capital, with participation from SBI and IvyCap Ventures. Biryani By Kilo is an internet-first restaurant offering biryani and Indian cuisine. Biryani By Kilo offers various biryani consisting of chicken, mutton, and freshly cut vegetables. Biryani By Kilo's platform enables users to order online on the website and get it delivered. Biryani By Kilo offers regional biryani from Kolkata, Hyderabad, and more. Founded in 2015, Gurgaon-based Biryani By Kilo has raised $44.3 million till date.
Enterprise Applications startup, GreytHR, raised $30 million in a Series D funding round led by Info Edge. GreytHR is a HR & payroll software provider. GreytHR offers a cloud-based platform for HR department professionals to manage activities such as employee engagement, payrolls, attendance, leave monitoring, documents, expense claiming, events, and reporting. GreytHR's solutions are also offered as a SaaS as well as stand-alone packages. Founded in 1994, Bangalore-based GreytHR has raised $41.8 million till date.
Mumbai-based FinTech startup, Upstox, raised $25 million in a Series C funding round led by Tiger Global Management. Upstox is an app-based trading platform for stocks. Upstox allows users to buy, sell, trade stocks, commodities, securities, and mutual funds at discounted prices. Upstox offers online trading software, brokerage calculators, options strategy builder, order generator, and more. Upstox applications can be accessed over the web, iOS, and Android mobile devices. Founded in 2011, Upstox has raised $54 million till date.
Enterprise sales automation startup, Salesken, raised $22 million in a Series B funding round led by M12, with participation from Sequoia Capital. Salesken is an AI-based sales conversation analytics platform. Salesken's solution helps to get insights into customer-salesperson interactions and give play-by-play visibility to the sales representatives’ performance on calls, webinars, and presentations. Salesken offers features such as feedback automation, simulated assessments, chatbot-assisted coaching, AI-based signal analysis, competency reports, and more. Salesken's product is available on a subscription basis. Founded in 2018 by IIM Ahmedabad alumni, Bangalore-based Salesken has raised $30 million till date.
Bangalore-based AutoTech startup, Simple Energy, raised $21 million in a Seed funding round led by Sattva Group, and Athiya Developers. Simple Energy is a developer of electric scooters. Simple Energy company's electric scooters offer features like battery management systems, IoT-enabled solutions, embedded electricals, variant color options, and more. Founded in 2019, Simple Energy has raised $29.8 million till date.
Industrial automation startup, Haber, raised $20 million in a Series B funding round led by Ascent Capital, with participation from Accel, Beenext, Elevation, and more. Haber is an IoT-enabled industrial automation platform. Haber's product, eLIXA, is an AI and cloud-based automation platform offering water, utility, and process solutions for packaging, institutional, food and beverage industries. Haber's platform transforms unstructured data into actionable intelligence by spotting trends and relationships between critical parameters. Haber's platform collects this data through sensors put up across the plant and can monitor mechanical, chemical, and operational parameters. Founded in 2015, Pune-based Haber has raised $27 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 3 exits during the week of 28 Nov 2021.
Chandigarh-based FinTech startup, uTrade, was acquired by Share India. uTrade is an open-source multi-asset trading platform and blockchain-based settlement solution. uTrade offers solutions for providing various products including multi-asset trading platforms, algorithms, and analytics. uTrade's platform enables investors to analyze the latest and historical market and social media information to make smart trading decisions. uTrade's product, uClear, is a blockchain-driven solution that will enable real-time clearing and settlement of contracts across the cash and derivatives segments of the financial markets. Founded in 2011, uTrade has raised $0.9 million till date from Axis Capital Partners, FinTech Innovation Lab, James Dawson, and others.
Bangalore-based EdTech startup, Jigsaw Academy, was acquired by UNext Learning. Jigsaw Academy is an online digital academy providing training and education in the field of data science and big data analytics. Jigsaw Academy offers courses on general subjects as well as more specialized areas like Churn Analytics, Risk Analytics, and customized content as per corporate requirements. Jigsaw Academy operates on an enrollment basis and the students are offered data scientist certification. Additionally, Jigsaw Academy also offers analytic training workshops for corporates and MBA institutes. Founded in 2011, Jigsaw Academy has raised $3 million till date from Manipal Global, Vistra ITCL, Excubator, and others.
HeathcareIT company mChemist was acquired by Akos. mChemist is an online pharmacy providing health products such as supplements, ayurvedic medicines, and prescription medicines. mChemist platform allows users to order medicines after signing up to the website and uploading a valid prescription from whatsapp to the website. mChemist offers its mobile app for Android devices. Founded in 2014, Delhi-based mChemist has raised $0.2 million till date from Gagan Sharma, Ravi Kumar, Arun Arora, 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.
