[Weekly Funding roundup] Indian startups raise a billion dollars in one week

It was a busy week for Indian startups, with companies raising almost a billion dollars from major investors globally across sectors- from education to e-commerce and financial services, as per data from Tracxn.

In the week ended April 2, 2021, Byju’s- the edtech giant raised $460 million from MC Global Edtech and other investors, pushing its valuation to over $13 billion. The company intends to employ the money to acquire offline test prep firm Aakash- a billion-dollar deal and has other acquisition plans in the US too.

While, baby products retailer FirstCry raised $315 million from private equity firms TPG, ChrysCapital, and PremjiInvest, in a completely secondary round, where early investors Elevation Capital, Vertex Ventures, and others have sold their entire stake to these new investors, at a valuation of nearly $2 billion.

Lending firm Five Star Finance also joined the unicorn club- valued at a billion dollars or more- raising $234 million- also almost entirely secondary, led by Sequoia Capital and PE giant KKR. 

Both Five Star and FirstCry plan to go public in the next few years.

Microfinance institution Annapurna Finance raised $30 million led by US-based impact investor Nuveen. Nuveen is an arm of the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA).

Healthtech startup Healthplix raised $13.5 million in a Series B round led by Lightspeed Venture Partners India. Healthplix offers a software platform for doctors to schedule appointments, prescribe medicines, and engage with patients.

Neobank StashFin raises $40 million in Series B funding round. Stashfin intends to use the funds to expand its lending portfolio in India, as well as offer neobanking solutions to businesses across South Asia.

Fintech startup Easebuzz raised $4 million in the first funding round. Easebuzz, which was bootstrapped but profitable so far, will utilize the funding to improve its product team, enhance sales and marketing efforts, and offer more payment APIs to SMEs.

Uniphore Technologies raised $140 million in funding led by Sorenson Capital Partners. The company’s existing backers March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund, and Sistema Capital also participated in the Series D round.

DusMinute picked up $1.1 million in funding led by Indian Angel Network. The Bengaluru-based startup sets up in-society stores enabling residents to walk in and buy products, or order them through its app.

Online seller enablement startup, Eunimart, raised $700,000 as part of its pre-Series A funding round from LetsVenture, 9Unicorns, Loyal VC, and Supply Chain Labs. This brings the total funding raised by the startup to $2.2 million till date.

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