During the day there were several fundraising from startups, including UpScalio raising $ 42.5 million for another boost for the Thrasio-style model, the gaming platform Zupee raising $ 30 million in the Series B Funding, Club Raises $ 20 Million in Seed Round; Healthtech Startup Ultrahuman Raises US $ 17.5M in Promoting Portable Glucose Tracker; Yellow Class Receives $ 6 Million From Elevation Capital; and Smart Express raises Rs 100 cr in seed funding. Here are the top deals closed in the startup universe today.
UpScalio is raising $ 42.5 million for another boost for the Thrasio-style model
The rush to build a Thrasio-type platform in India is generating massive investor interest and an e-commerce roll-up – UpScalio – is underscoring this new trend.
The five-month-old company raised $ 42.5 million as part of its Series A round led by Presight Capital and an undisclosed global hedge fund, in which Heliad Equity Partners, MPGI, 468 Capital, Whiteboard Capital have stakes .
The funding round also saw capital commitments from a consortium of lenders including the newly formed Unicorn OfBusiness, Innoven Capital and Alteria Capital. The company’s angel investors and advisors include Suhail Sameer (CEO, BharatPe), Radhika Ghai (Co-Founder, ShopClues), Rohit Kapoor (CEO, OYO India & SEA), Arjun Vaidya (Founder, Dr. Vaidya’s) and Erik Podzuweit ( Founder, scalable capital).
According to UpScalio, the Indian e-commerce market is one of the fastest growing in the world and is expected to grow at over 35 percent annually over the next five years.
UpScalio aims to be an ecommerce brand investor and operator by partnering with digital first brands that sell on ecommerce sites like Amazon, Flipkart, Myntra, and Nykaa.
The startup said it will help brands with multi-marketplace management, digital marketing, branding, logistics, procurement, finance and business operations, all of which will be streamlined through advanced analytics. It aims to help businesses scale 5 to 10 times profitably.
The gaming platform Zupee is raising $ 30 million in Series B funding
Zupee, a startup for an online skill-based gaming platform, raised $ 30 million in its Series B funding round at a pre-valuation of $ 500 million. This funding round was jointly led by Silicon Valley-based WestCap Group and Tomales Bay Capital.
This round takes place within six months of the Serie A round with a valuation of $ 100 million and a more than 5x increase in company valuation.
With a total of US $ 49 million, Zupee is supported by the WestCap Group, Matrix Partners, Smile Group and Orios Partners. The company has an existing user base of over a billion and this new round of funding will be used to enable scaling efforts through an expanded product portfolio, expanding market reach and recruiting global talent.
Club raises $ 20 million in seed round
The fintech startup Klub has raised $ 20 million in start-up funding from existing investors 9Unicorns and Sequoia Surge. The new investors Alter Global and Japan’s GMO VenturePartners also took part in the financing round.
The company raised $ 2 million in a pre-seed round led by Surge and several angel investors in January. The new round – which represents a mixture of equity and capital commitment – makes it one of the largest seed rounds in the Indian startup ecosystem to date, according to the company.
Klub said it will put Rs 500 crore in local brands and digital small and medium-sized businesses over the next few quarters. The startup plans to use the fresh capital to expand its team, accelerate the development of its technology and data platform, and expand its product offerings and market segments.
“India’s digital retail ecosystem requires more than one-size-fits-all funding, and with this round we can further advance our mission of enabling growth for popular brands,” said Anurakt Jain, co-founder of Klub.
Healthtech startup Ultrahuman raises $ 17.5 million and promotes a portable glucose tracker
Fitness startup Ultrahuman has announced a $ 17.5 million Series B fundraiser, with investments from the early-stage Alpha Wave Incubation fund (supported by DisruptAD and managed by Falcon Edge), Steadview Capital, Nexus Venture Partners, Blume Ventures and Utsav Somanis iSeed Fund.
Marquee founders and angel investors who also participated include Scott Schleifer of Tiger Global, Deepinder Goyal (CEO and Co-Founder of Zomato), Kunal Shah (CEO of Cred), and Gaurav Munjal and Romain Saini (Co-Founders of Unacademy) ). .
According to Ultrahuman, over a billion people worldwide suffer from a metabolic disease that contributes to 85 percent of all chronic diseases worldwide.
The startup wants to reinvent fitness technology with its glucose tracking device. The Cyborg branded product is a wearable and subscription service – helping people optimize their exercise and diet based on glucose biomarkers.
Yellow Class Receives $ 6M from Elevation Capital
Edtech startup Yellow Class has raised $ 6 million Series A funding, led by Elevation Capital.
Existing investors India Quotient, Titan Capital and First Check also took part in the round. Other angel investors include Vidit Aatrey (Co-Founder, Meesho), Alok Mittal (Founder, Indifi), Vivekananda Hallekere (Co-Founder, Bounce), Maninder Gulati (Global CSO, OYO) Abhinav Sinha (COO, OYO), Dhruv Agarwala ( CEO, PropTiger) and Alvin Tse (Country Director, Xiaomi Indonesia).
The startup will use fresh capital to improve the product experience for parents and children and develop more holistic content, build brand awareness and recruit leadership roles in the product, technology and engineering industries.
The company plans to expand into over 500 cities in India and international markets.
Rage Coffee Receives $ 5M Series A Funding From Sixth Sense Ventures
Rage Coffee, which manufactures, markets and distributes coffee products worldwide, has raised approximately $ 5 million in growth capital through its Series A financing round led by Sixth Sense Ventures.
The company plans to expand its online and offline presence across India and will use the fresh capital for marketing and sales purposes. Rage Coffee will also use the funds to increase production, bring innovative new products to market, and nurture senior management talent.
According to the company, the Rs 7,000 crore Indian packaged coffee segment is dominated by established companies, with two players – Nestle and HUL (Nescafe and Bru) – controlling over 65 percent of the industry’s market share.
The lack of innovation in this area is helping Rage become the brand of choice for the next generation of coffee consumers, the company said.
“Our D2C channel grew tenfold during the pandemic. With this round of funding, we are aiming to meet our global demand with distributors in the US, Europe and the GCC markets who already work with us, ”said Bharat Sethi, Founder and CEO of Rage Coffee.
Edtech startup Expertrons raises $ 2.3 million
Expertrons, a professional, growth-focused AI videobot startup, has $ 2.3 million in pre-Series A funding from Venture Catalysts, Auxano Capital, Venture Garage, Yoga Capital, Ah! Ventures, Lead Angels, and Hyderabad Angels upset.
Existing investors LetsVenture, Ivycap Ventures, IVS and Nikhil Vora (MD, Sixth Sense) also took part in the round, along with entrepreneurs such as Bre Pettis, co-founder of MakerBot (which was supported by Jeff Bezos and taken over for half a year). Billion dollars) and founder of Early Salary.
The company will inject fresh capital into its patent-pending video bot technology and referral engine to help aspirants find the right experts who can offer them a dream opportunity.
Digital health startup Navia Life Care raises $ 1 million
Digital healthcare startup Navia Life Care has raised $ 1 million as part of its Series A funding.
The investment was led by the Anicut Angel Fund, the equity arm of Anicut Capital, with the participation of 9Unicorns. Other marquee angel investors including the head of health and life sciences of a world-class strategy consulting firm, the head of strategic partnerships at Google India, and the CEO of a renowned global pharmaceutical company.
The fresh funds will be geared towards strengthening the company’s position as one of the fastest growing digital health startups in India, the company said. It will also enable the company to use the capital for technology, business development, product innovation and development, strategic adjustment and expansion in all of India’s health centers, metropolitan areas and Tier II and Tier III cities.
The startup aims to complete a Series A round worth $ 5 million in the next three to four months.
Smart Express raises Rs 100 cr in seed funding
The logistics startup Smart Express raised Rs 100 crore in seed funding prior to its start over the Christmas period.
The seed funding round will be led by the IIFL Private Equity Fund and other investors – Smiti Holding & Trading Company (Jalan Dani Family Office), founder-promoter Yogesh Dhingra, and other co-founders.
The startup plans to open in 30 cities over the upcoming Christmas season, adding that it plans to build 300 centers across India over the next three years. The funds will be used to team up and create a Pick-Up and Delivery (PUD) and transit hub infrastructure to serve customers across India.
Other key areas in which the funds will be used include developing technology to support operations and developing innovative solutions that enable customers to experience world-class service at the best possible cost, the startup said.