[Funding Galore] Over $ 1.8 billion raised by Indian startups this week

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Indian startup ecosystem raised $ 1.8 billion in funding across 38 deals

The Indian startup ecosystem saw the emergence of NoBroker and Spinny as new entrants to the unicorn club

Dream Sports, the parent company of Dream 11 landed the biggest check worth $ 840 million for a valuation of $ 8 billion

After a significant drop in investment last week, the Indian startup ecosystem managed to end November on a higher note. This week, the startup ecosystem saw investments worth $ 1.8 billion across 38 deals. This week’s investment is 325% higher than last week in November when the ecosystem cleaned up up $ 400 million out of 26 transactions and 6.4% more than the previous week when Indian startups raised $ 1.7 billion in total.

The week saw the rise of two new unicorns – NoBroker and Spinny. Nobroker raised $ 210 million in its Series E from General Atlantic, Tiger Global and Moore Strategic Ventures at a valuation of over $ 1 billion. Based on Gurugram Spinny used car market raised $ 248 million from Tiger Global, Abu Dhabi Growth Fund and Avenir Growth.

The biggest investment of the week was made by Dream Sports, the parent company of fantasy sports platform Dream 11. The startup recovered $ 840 million at a valuation of $ 8 billion from Falcon Edge, DST Global, D1 Capital, Redbird Capital, Tiger Global, TPG and Footpath Ventures, among others.

Here are all of the funding rounds leaked this week:

IPOs of startups this week

RateGain gets green light from SEBI for IPO and aims to increase INR 400 Cr via new number

The Noida-based travel and hospitality software as a service (SaaS) startup has filed its draft red herring flyer (DRHP) in August 2021. Its offer includes a new issue with a maximum value of INR 400 Cr and a sell offer (OFS) of up to 22,605,530 shares.

From the acquisition office

  • Delhi based telemedicine company Akos® acquired a 72% stake in drug delivery startup mChemist Global for an undisclosed amount.
  • GlobalBees, a Thrasio-style company, acquired a controlling stake in Healthyhey, Rey Naturals and Intellilens
  • UNext Learning, the edtech learning organization supported by Manipal Group, has acquired Jigsaw Academy.

Start-up funds this week

  • Start-up venture capitalist WaterBridge Ventures permanently closed its second fund at $ 150 million
  • Mumbai-based startup venture capital Blume Companies raised $ 105 million, completing the first close of its fourth dedicated fund for India
  • Winzo Games in association with Kalaari Capital launched Gaming Lab to encourage and support the gaming ecosystem in India
  • Eximius Ventures launched a student partnership program to support student-led startups with a stipend of up to $ 500,000
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