India’s economic status has been adversely affected by the COVID19 pandemic. With the entire country being under lockdown for almost 2 months now, the capital investments have taken a dip considerably.
With that been said, the startups with a pre-existing strong stand in the market may be able to generate funds in order to help the economy up and running. These startups are the ones that have been very active even during the lockdown due to the nature of the services provided by them.
On Saturday, officials from Bira 91, a product of B9 Beverages Pvt. Ltd said that it has raised $20 million in funding led by its existing investors, Sequoia India and Belgium-based investment firm Sofina.
The bridge funding is part of a larger $30 Mn Pre-Series C equity financing round, which the company plans to use to increase its market share in the premium beer segment.
India originated the Edtech app Vedantu, was successfully able to raise $20 million. The amount was pooled in two portions in the month of April. The first amount of $12.5 mn it received from Legend Capital and Omidyar’s Ohana Holding, second of $6.8 million from South-Korea based KB Global. The funding came in as a part of its Series C1 round.
As reported by Inc42, JusPay, a Bengaluru, India-based payments gateway company, announced it has raised $21.6 million in a Series B round of funding led by Sweden-based Vostok Emerging Finance (VEF) with an investment of $13 million. Boston-based Wellington Management also joined the round along with existing investor Accel Partners.
The Noida-based startup FarEye has raised $25 million in a new financing round as it looks to expand its footprint in international markets.
M12, Microsoft’s venture fund, led the seven-year-old startup’s Series D financing round. Eight Roads Ventures, Honeywell Ventures, and existing investor SAIF Partners participated in the round, which pushes FarEye’s total raise-to-date to $40 million.
The Bengaluru-based online real estate listing platform, NoBroker, has raised $30 million from existing investor General Atlantic as an extension of its Series D round. The fresh investment takes NoBroker’s Series D to fundraise to $80 million bringing its till date fundraised to $151 million.
The food tech giant Swiggy has recently announced that it has raised $41 million as a part of its Series I round.
According to the company’s filings with the Registrar of Companies, the cloud kitchen operator Rebel Foods has raised $50 million in a fresh funding round from existing investor, US-based hedge fund Coatue Management.
As reported by Economic Times, Genetic diagnostics, research, and data company MedGenome have raised $55 million in a new round of funding, led by global impact investment firm LeapFrog Investments. The company’s two existing backers, Sequoia Capital and Belgian investor Sofina, have also participated in the latest round of equity financing, it said in an official statement.
Dailyhunt, a Bangalore-based news aggregator, has raised $59.6 million from existing investors Bytedance, Falcon Edge, Goldman Sachs, and Advent Management. The funding round for the firm has come after its talks with SoftBank did not go through last year.
As per TOI’s report, Bigbasket, the online grocery retailer, has raised $60 million round of funding led by existing backers, Chinese e-commerce giant Alibaba, along with others like South Korea’s Mirae Asset Ventures and UK’s development finance institution CDC group.