[Weekly Funding roundup] 6 unicorns and a $2.5B investment in just one week

The Indian startup ecosystem saw a whopping six startups turning unicorns and $2.5 billion of venture funding raised in just one week. This fantastic week has mapped out the upcoming nine months of this year to break new records. 

The funding worth $2.5 billion for the second week of April accounts for 25 percent of the complete venture capital investments in 2020, which added to $9.94 billion.

Six new startups joined the Indian unicorn club during the week, starting with Meesho and followed by CRED, Pharmeasy, Groww, ShareChat, and Gupshup. These six unicorns accounted for about $1.5 billion in funding during the week. 

23 deals took place during the week with the spread of these investments across all stages. $41 million accounted for Debt funding in the second week of April.

Delivery unicorn Swiggy acquired $800 million in funding led by Falcon Edge, Carmignac, Think Investments, Amansa Capital, and Goldman Sachs. 

Social media startup ShareChat raised $502 million led by Lightspeed Ventures and Tiger Global, with participation from Snap, Twitter, and India Quotient, among others valuing the company at $2.1 billion.

PharmEasy was valued at $1.5 billion after it secured $350 million in a Series E round led by Prosus Ventures and TPG growth.

Meesho stood at a $2.1 billion valuation after raising $300 million led by Softbank Vision Fund 2. Other participants included Facebook, Prosus Ventures, Venture Highway, Shunwei Capital, and Knollwood Investment.

Fintech startup CRED raised $215 million at a $2.2 billion valuation led by Falcon Edge Capital and Coatue Management. Other participants included Tiger Global, RTP Global, Greenoaks Capital, DST Global, Dragoneer Investment Group, and Sofina.

SME Financing Platform OfBusiness raised $110 million led by Falcon Edge Capital. Matrix Partners India, Creation Investments, and Norwest Venture Partners also participated in the round. 

Investment platform startup, Groww, was valued at over $1 billion after it raised $83 million led by Tiger Global. Sequoia India, YC Ribbit Capital, Continuity, and Propel Venture Partners also participated. 

Gurugram-based online used car retailing platform, Spinny, raised $65 million led General Catalyst, with participation from Elevation Capital, Think Investments, Arena Holdings, and Fundamentum Partnership.

WOW Skin Science raised $50 million from ChrysCapital for a minority stake. 

PlayShifu, an AR startup secured $17 million from Inventus Capital India with Inflexor Ventures with participation from Chiratae Ventures and Bharat Innovation Fund. 

Fintech startup ShopSe raised $5.5 million led by Chiratae Ventures and BEENEXT. Other participants included Opus, Pentathlon Ventures, and Yatra Angel Network. 

Pitstop, a car service startup, secured $3.5 million led by Ventureast. LetsVenture, AngelList India, ACKO Technologies, and Blume Ventures also participated.

EV solutions startup Oye Rickshaw raised Rs 24 crore from Alteria Capital. 

CareerLabs, a profile developing startup for college students and working professionals, raised $2.2 million led by Global Founders Capital and angel investors. 

WiT-ACE secured $1 million as part of its first seed fund from various angel investors. 

Legitquest, a Legal research platform, raised Rs 5 crore from Info Edge and Waterbridge Ventures in a pre-Series A funding round.

Fantasy sports platform Fantasy Akhada raised Rs 5 crore in equity funding through Prime Securities. 

Tech startup Superpro.ai acquired $300,000 in a seed round led by IvyCap Ventures Angel Fund. 

Do Your Thng (DYT), an influencer marketing platform, raised $150,000 led by Mumbai Angels. Faad Network and Angel Bay also participated in the round.

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Rage Coffee raised an undisclosed amount of capital from a group of investors led by Refex Capital. 

Fintech startup, Kudos, raised an undisclosed amount in pre-Series A funding from angel investors. 

Edtech startup AntWak raised an undisclosed seed round led by Matrix Partners India and angel investors.

Neobanking startup, StashFin, based out of Singapore, raised $40 million in its Series B extension equity funding round from a clutch of global investors. 

Gupshup, the Silicon Valley-headquartered conversational messaging tech startup, was valued at $1.4 billion after raising $100 million in funding from Tiger Global.

It was raining unicorns in the second week of April as the club welcomed 6 new entrants with multi-million dollar funding rounds. The year ahead looks very promising for the startup ecosystem.

Shishir Gupta, Founder and CEO, StartupLanes

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