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[Funding Galore] From BYJU’s To Licious — Over $1.3 Bn Raised By Indian Startups This Week

By Debarghya Sil
Indian startup funding
Infocus
Funding Galore

Every week, more than a dozen startup secure funding and many get acquired. In this weekly series, we bring the latest deals from the Indian startup ecosystem consolidated at a single page.

After a steep rise of investment in the Indian startup ecosystem, the first week of October, saw a marginal dip in the total funding raised by Indian startups. The Indian startup ecosystem reported total funding of about $1.3 Bn across 42 deals between October 4 to October 9.

This week’s investment was 13% lower than last week’s investment which was $1.5 Bn. However, the ecosystem saw the emergence of three Indian startups entering the unicorn club, thus taking the total unicorns this year to 30. 

The highest investment this week was raised by edtech decacorn BYJU’s. Inc42 exclusively reported BYJU’s $296 Mn (INR 2200 Cr) fundraise from Oxshott Capital Ventures, Edelweiss, Veriton Fund, XN Exponent Holdings among others.

This week, India got its second unicorn crypto unicorn with CoinSwitch Kuber mopping up $260 Mn in its Series C round led by Andreessen Horowitz (a16Z) at $1.9 Bn valuation. Ribbit Capital, Coinbase Ventures, Paradigm, Tiger Global among others have also participated in the round. The investment also marked the US-based a16z’s first investment in the country.  

The week’s third-biggest investment was raised by foodtech startup Rebel Foods. The Bengaluru-based startup which operates popular food brands such as Behrouz Biryani and OvenStory Pizza bagged $175 Mn at a unicorn valuation of $1.4 Bn valuation from Qatar Investment Authority, Coatque, Evolvence among others.

Rebel’s fundraise came a day after Bengaluru-based gourmet meat startup Licious entered the unicorn club. The startup raised $52 Mn in its Series G round from IIFL AMC’s Late Stage Tech Fund, Avendus FLF (Future Leaders Fund) and other private equity investors.

Here are all the funding rounds disclosed this week:

From The Indian Startup IPOs Desk

IPO-Bound Delhivery Converts Into Public Company

Gurugram-based logistics unicorn Delhivery has converted into a public company. Inc42 on October 6, exclusively reported that Delhivery’s shareholders have approved the conversion of the startup into a public company.

The startup is also splitting its equity shares in a 1:10 ratio. Delhivery is even making amendments to its existing Employee Stock Option Plans (ESOP) to comply with the guidelines issued by the Ministry of Corporate Affairs and SEBI Listing Regulations. The logistics unicorn is aiming for a $1 Bn IPO and is likely to file its draft red herring prospectus this month. 

Paytm’s Employees Convert ESOPs Worth Around INR 346.9 Cr To Shares

IPO-bound One97 Communications which operates digital payments platform Paytm has allotted a total of 18,49,191 equity shares to its 120 employees upon ESOP conversion.  

Inc42 has exclusively reported on October 5 that Paytm has allotted equity shares worth INR 346.9 Cr to its employees for INR 2.7 Cr.

Paytm To Bring Sovereign Funds As Anchor Investors In IPO

Vijay Shekhar Sharma led-Paytm is reportedly in talks with multiple sovereign wealth funds such as the Abu Dhabi Investment Authority (AIDA), Government of Singapore Investment Corporation (GIC), Canada Pension Plan Investment Board (CPPIB), and financial investors such as US-based BlackRock and Japan-based Nomura to consider bidding as anchor investors in Paytm’s pre-IPO placement.

IPO-Bound PharmEasy To Rope In New Investors For Its $300 Mn Pre-IPO Round

IPO-bound PharmEasy which is set to file its draft red herring prospectus this month is likely to bring in a new set of investors such as Steadview Capital, IIFL and a US-hedge fund to raise its pre-IPO round worth $300 Mn.

From The Acquisitions Desk

Other Development Of The Week

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