Dream Sports, the owner of fantasy sports platform Dream11, has announced that it has raised USD 840 million from Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. The Mumbai-based platform currently has 140 million users. Dream Sports also operates other brands like FanCode, a sports content and commerce platform, DreamSetGo, a sports experiences platform, and DreamPay, a solutions provider. Dream Sports, in August, had made an initial allocation of USD 250 million for its corporate venture capital and acquisition arm, Dream Capital, to pick up stake in sports, gaming and fitness-tech start-ups. Another fantasy sports platform, Mobile Premier League (MPL) also entered elite unicorn club post-Series E capital infusion at a pre-money valuation of USD 2.3 billion.
Here is some latest financial news of private equity, venture capital and mergers & acquisitions:
- Private Equity:
Delhivery files for $1 bn IPO; Carlyle, Softbank and Fosun to sell shares:
An Indian logistics and supply chain start-up, Delhivery Ltd, has filed DRHP with SEBI to raise INR 7,460 crore via an IPO. The IPO consists of a fresh issue of INR 5,000 crore and an OFS of up to INR 2,460 crore by its existing promoters & shareholders. Early backers Carlyle, Softbank, and Fosun Group’s China Momentum Fund through Deli CMF Pte Ltd. are making a partial exit.
(Source: VC Circle, 02 November, 2021)
Zoomcar Raises $92 million from US-based investors:
New York City based SterAegis Ventures with participation from international family offices and institutional investors, in a private placement, has invested USD 92 million in Zoomcar, a car sharing marketplace. SternAegis acted as the exclusive placement agent and ThinkEquity acted as a special advisor. Zoomcar intends to use the proceeds from this financing to grow its car sharing marketplace in India and various select markets across Asia and MENA region.
(Source: VC Circle, 08 November, 2021)
TPG-backed Nykaa soars in India market debut to near $13 billion valuation:
After food delivery firm Zomato’s stellar debut, shares of fashion e-commerce platform Nykaa opened at a 79.4% premium to their offer price on listing day, gaining a valuation of INR 954.37 billion. The company’s offering drew bids worth USD 32.55 billion as it was oversubscribed by nearly 82 times, signalling strong investor demand for a start-up that, unlike many others, has already achieved profitability.
(Source: VC Circle, 10 November, 2021)
KKR’s Virescent Renewable Energy Trust raises Rs 2150 cr of debt:
Virescent Renewable Energy Trust (VRET), India’s first renewable energy infra-investment trust has raised INR 2,150 crore of debt from listed non-convertible debentures (NCDs), long term debt financing and through working capital. VRET has raised INR 1,000 crore through the NCDs in the first ever issuance by an Indian renewable energy infra-investment trust and another INR 1,000 crore from L&T Finance.
(Source: VC Circle, 15 November, 2021)
Route Mobile raises $117 mn in QIP from global funds Steadview Capital, PineBridge, others:
Route Mobile Limited, a messaging and voice application programming interface company, has raised INR 867.49 crore from global and domestic investor funds through Qualified Institutional Placement (QIP). The investors include Steadview Capital Mauritius, Pinebridge Global Fund and Kuber India Fund.
(Source: VC Circle, 19 November, 2021)
Singapore’s Broad Peak, Brescon partner for $300 mn special situation investment in India:
In a strategic partnership between Singapore-based Broad Peak Investment Advisors Pvt Ltd (Broad Peak) and Brescon & Allied Partners LLP, both parties have agreed to invest up to USD 300 million in special situations in India. The strategy devised is to invest across multiple special situations in India ranging from turnaround, debt resolution to litigation financing, among others.
(Source: VC Circle, 23 November, 2021)
- Venture Capital:
The Hosteller raises $1 million in pre-Series A funding round:
Backpacker hostel chain, The Hosteller, has raised USD 1 million in a fresh funding led by FAO Ventures and CA Holding LLP. The round saw participation from other investors as well. The Hosteller plans to expand existing number of 12 hostels to 50.
(Source: VC Circle, 01 November, 2021)
Ecommerce platform Kiko Live raises $1 mn in pre-Series A from Venture Catalysts, SOSV:
Smooth Tag Technologies Pvt Ltd operated Kiko Live, a video-based social commerce startup, has raised USD 1 million pre-Series A funding. The funds will be utilized to scale up technology, marketing, and onboard Live Sellers on the platform.
(Source: VC Circle, 02 November, 2021)
Paytm raises Rs 8235 cr in anchor round; oversubscribed 10x:
One97 Communications Ltd., the company which operates brand Paytm, has raised INR 8,235 crore from anchor investors, with the anchor round oversubscribed 10 times by 74 investors. The anchor round saw participation from both domestic and foreign institutional investors, with 21 investors bidding greater than INR 100 crore.
(Source: VC Circle, 04 November, 2021)
HR-tech startup Advantage Club secures additional $3.3 million from Jetty Ventures, others:
HR-tech startup Advantage Club has raised USD 3.3 million from Jetty Ventures, Earlsfield Capital, SMC Advisors, among others. Started in 2014 by Deorah duo, Advantage Club is an online employees rewards and recognition platform that seeks to digitize all employee needs under one umbrella.
(Source: VC Circle, 08 November, 2021)
Nabventures invests Rs 60 Cr in Series A round in agritech startup Unnati:
Nabventures Fund, an early-stage government-backed venture growth fund, has led a Series A round in Akshamaala Solutions Pvt. Ltd which runs and operates Unnati, a fintech driven agriculture service platform. Unnati will use the funds to strengthen its tech infrastructure and increase its uStore Network.
(Source: VC Circle, 10 November, 2021)
Kalaari Capital, others, invest $12 mn in NFT startup GuardianLink.io:
NFT ecosystem technology platform GuardianLink.io has raised USD 12 million in a Series A funding round led by Kalaari Capital and a private investor group. The company plans to utilize the funds to expand the design labs in Japan and Singapore & enhance the technology brand’s creative development capabilities and deepen its curative NFT packaging foundation.
(Source: VC Circle, 16 November, 2021)
Beauty marketplace Purplle raises $65 mn from Premji Invest as part of Series D round:
Mumbai-based Manash Lifestyle Pvt Ltd operated Purplle, an online beauty products marketplace, has raised USD 65 million in a Series D funding round from Premji Invest. This funding from Premji Invest takes Purplle’s total Series D fundraise to USD 140 million.
(Source: VC Circle, 22 November, 2021)
NoBroker becomes India’s first real estate startup unicorn:
Real estate renting and buying platform, NoBroker, raised USD 210 million as a part of its latest Series E funding round led by General Atlantic, Tiger Global Management and Moore Strategic Ventures. NoBroker, in the latest funding round, is the first Indian property-tech and real estate startup to be valued at USD 1.01 billion just over the cut-off criteria to be recognized as a unicorn.
(Source: VC Circle, 23 November, 2021)
Upstox raises $25 mn from Tiger Global affiliate at $3.39 bn valuation:
Online stock broking company Upstox, managed and operated by RKSV Securities India Pvt Ltd, has raised USD 25 million as a part of its Series C funding making it the 40th unicorn or a startup with over USD 1 billion valuation, in 2021 in India. The fresh proceeds will be used for growth, expansion, marketing and general corporate purposes.
(Source: VC Circle, 25 November, 2021)
- Mergers & Acquisition:
Unacademy acquires K-10 online tuition platform Swiflearn:
Edtech platform has announced its acquisition of online tuition platform Swiflearn for an undisclosed amount. This acquisition is in line with Unacademy’s overall plan to strengthen its position in the ‘Kindergarten to grade 12’ category, as it heats up the competition against rivals Vendantu and BYJU’s.
(Source: VC Circle, 02 November, 2021)
GE, an industrial conglomerate pioneer, to break up:
General Electric has announced its decision to split into three public companies as the US industrial conglomerate seeks to simplify its business, pare down debt, and breathe life into a battered share price. The split marks the end of the 129-year old conglomerate that was once the most valuable US corporation and a global symbol of American business power.
(Source: VC Circle, 09 November, 2021)
Neokred acquihires BNPL solutions provider PeSeva Technologies:
Bangalore-based fintech startup Neokred Technologies Pvt Ltd has acquihired a buy-now-pay-later solutions provider PeSeva Technologies. This move will enable Bangalore-based startup to tap into the current demand of embedded lending to offer customers affordable loans in a seamless manner.
(Source: VC Circle, 10 November, 2021)
eBikeGo acquires Kustard Technologies for $2 million:
eBikeGo, electric two-wheeler mobility platform, has acquired tech firm Kustard Technologies for USD 2 million. With this acquisition, eBikeGo plans to build fleet management systems (FMS) to empower delivery firms such as Amazon, Flipkart, and BigBasket with updated technologies. Mumbai-based eBikeGo aims to launch EBG Matics (Advance Telematics for EV) by April 2022.
(Source: VC Circle, 10 November, 2021)
Thrasio-style startup Powerhouse91 acquires wellness firm Expertomind:
PH91 Pvt Ltd, the operator of ecommerce aggregator Powerhouse91, has acquired wellness firm Expertomind for an undisclosed amount. With a combination of functional optimizations across marketing, supply chains and operations combined with significant growth capital, Powerhouse91 aims to expand Expertomind by 25 times over the next four to five years. By 2023, it expects the brand to grow ten times.
(Source: VC Circle, 29 November 2021)