As the week steps into its last phase of the month, the Indian startup ecosystem, in third term of July, has been able to grab $136.5 million funding across 11 deals, including few acquisition agreements.
Here are the funding galore raised in the third week of July:
In a strategic partnership, eBay picked up a 5.5% stake in the Indian ecommerce marketplace. Through this partnership, eBay inventory will be made accessible to the active customer base of Paytm Mall, a subsidiary of the Indian fintech unicorn Paytm.
It would also enable eBay sellers to reach new customers in the rapidly growing Indian market.
On the other hand, one of the biggest funding round was of Icertis, a Seattle and Pune-based software company, raised $115 million in a funding round led by US-based venture capital firm Greycroft and PremjiInvest.
The company has also raised an additional $10 Mn in its ongoing Series F round. This investment has come from an Abu Dhabi-based entity Capital Investment LLC.
Toch, an interactive video platform, based out of Mumbai, raised an undisclosed amount of funding in a pre-Series A round led by investors from Hyderabad Angels and other HNIs from various networks in their individual capacity.
The startup plans to use the funds to enhance technology, scale their team and operations.
Agrahyah Technologies, a Mumbai based software company, closed its pre-Series A round of $1 million funding from an undisclosed investors. The funds will be used to fuel growth and expansion of its products.
Besides, the fund raising deals, Indian startup ecosystem also experienced some acquisition agreements. Here is the list:
By integrating CloudLanes, Druva will bring all the benefits of its cloud capabilities to these on-premises environments, providing instant recovery and enhancing data security without requiring any hardware.
Ebix, a US-based software company, has signed an agreement for a merger with Yatra, a Gurugram-based travel and ticket booking platform.
For the merger, each ordinary share of Yatra will be entitled to receive 0.005 shares of a new class of preferred stock of Ebix. Following the completion of the transaction, Yatra will become part of Ebix’s EbixCash travel portfolio alongside Via and Mercury and will continue to serve customers under the Yatra brand.
The fund is reportedly looking to invest $20 million – $40 million per deal.
Steadview could invest up to $100 million in a single firm if the company’s financial metrics justify heavy capital.
The fund is also reportedly planning to increase focus on India by increasing its headcount here and is looking to hire one more person in India.
Similarly, ByteDance, a Chinese media giant, is looking to invest in Indian content startups. the move will help it create a bouquet of apps to target new audiences, a successful strategy from its Chinese growth.
For this, the company has set up a team to scout for companies in content, social commerce and education technology.
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