Funding News

Weekly Funding activities: Druva Raises $130 Mn to Become Latest Unicorn

Here is the recap of all the top funding activities that transacted during this week. Nearly $400 Mn was raised during the last 5 days by 15 startups spread across different sectors. Enlisted below are details top 10 funding activates of the last 5 days.

Druva: This week’s biggest funding was raised by SaaS and data protection startup Druva. The Pune and California based startup raised $130 Mn from existing as well as new investors. The new investors that participated in this round were Neuberger Berman and Atreides Management. The latest round spurred Druva into the coveted unicorn club. After Freshwork, It is now the only second SaaS startup to commend a valuation over $1 bn.

Vogo: Scooter rental startup Vogo raised undisclosed amount of funding from clutch of prominent individual investors. These investors include Ex -Myntra CEO Ananth Narayanan, serial entrepreneurs K Ganesh & Srini Anumolu and SVG Media founder Manish Vij. Barely two weeks ago Vogo had raised $3.6 million debt from venture debt firm Alteria Capital.

Bounce: Bounce become another prominent micro-mobility and bike taxi startup to raise funds this week. It scooped up $72 Mn in Series C funding round. The round was spearheaded by global technology fund B Capital Group and New York-based hedge fund Falcon Edge Capital.  Other prominent investors Accel Partners India, Accel Partners USA and Chiratae Ventures and other investors also infused funds in the round.

RazorPay: B2B Fintech startup Razorpay raised $75 million in its latest fundraising round. Ribbit Capital, a fintech focused investment firm, led the round.  Funds were also pumped by existing investors Tiger Global Management and Y Combinator’s Continuity. The fintech company intends to use funds for strengthening  its two new products, Razorpay Credit and Razorpay X.

LendingKart: One of India’s leading venture debt firm Alteria Capital infused $11.4 Mn (INR 80 Cr) in B2C fintech startup Lendingkart. Lendingkart will primarily use the funding for ramping up its funding activities to MSME sector.

Dunzo: Hyperlocal services platform Dunzo secured INR 2.99 Cr ($429.38K) as part of its yet to completed series C round. The Bengaluru based startup has already raised over $30.3 Mn as part of its ongoing series C round.

Practo: Bengaluru headquartered healthcare platform Practo managed to make a comeback in the funding world after a long time. The startup raised $17.2 Mn (INR 120 Cr ) from Trifecta Capital and other internal investors. As per the reports,  the funding has been driven partly by equity and partly by debt.

Postman:  API development platform Postman finally concluded its series B round by raising $50 Mn from CRV and  Nexus Venture Partners.

Active.AI: Artificial intelligence startups always live up to their hype by repeatedly making into the list of weekly funding round. This week it was the turn of Active.AI, a fintech startup that leverages the power of AI for digital lending. Active.AI raised $3 Mn from Spanish based venture investment firm InnoCells.

Wysa: Another AI startup that made into the list of weekly funding was Wysa. The AI mental health startup secured $2 Mn in Pre-series A round.

 

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