Deal Roundup: Edtech gets top marks even as fundraising activity remains slow

The edtech segment in India continues to garner investor interest. This week, Alpha Wave Incubation, Lightstone Fund, and other existing investors participated in Sequoia-backed Cuemath’s $40.9 million fundraise.

Overall, 15 startups raised $157.3 million, with most being in the growth stage of funding. Logistics, business to business (B2B) and ecommerce were among segments seeing greater investor interest. Last week, 19 startups had raised a total of $117 million.

In other news, logistics startup Shadowfax launched an ESOP buyback programme of $5 million. Employees who own ESOPs and have completed four years in the startup can participate and encash upto 35% of their ESOP shares.

Funding:

FreshToHome: Abu Dhabi Investment Office (ADIO) jointly invested $41 million in three startups including online meat retailer FreshToHome and two agritech startups Pure harvest and Nanorack. The investment is part of FreshToHome’s $121 million Series C stage fundraise, which it announced late October, a company spokesperson told TechCircle.

Bolo Indya: Short infotainment video platform Bolo Indya raised $400,000 ( Rs. 2.95 crores at current exchange rates) in a round led by Inflection Point Ventures along with existing investors from Eagle10 Ventures.

Kutumb: Primetrace Technologies-operated community-driven platform app Kutumb raised Rs 15.5 crore ($2.1 million) led by Sequoia Capital India’s Surge programme. Other early stage funds and angel investors including AL Trust, Whiteboard Capital, Incrypt, Sujeet Kumar, Kunal Bahl and Rohit Kumar Bansal also participated.

Atomberg: Mumbai-headquartered smart fans manufacturer Atomberg Technologies raised Rs 70 crore ($9.5 million according to current exchange rates) in a Series B round led by returning investor A91 Partners.

DealShare: Social commerce platform DealShare raised $21 million in a round dubbed Series C led by homegrown private equity firm WestBridge Capital. The fresh capital will be used to expand its brand presence across existing and new markets.

Waycool Foods: B2B omnichannel agri supply chain platform, Waycool Foods and Products raised $7.8 million in debt from non-banking financial company (NBFC) Samunnati, RBL Bank and InnoVen Capital.

Mihup: Conversational AI startup Mihup raised $1.5 million (Rs 11 crore at current exchange rates) in an ongoing Series A round of funding from Accel India, Ideaspring Capital, and new investors. The Kolkata based company had kick-started the round with a $1.8 million fundraise from Accel India and Ideaspring Capital, in April 2019.

Infra.Market: Mumbai-based construction material marketplace Infra.Market, raised $20 million in a Series B round of funding from private equity fund-of-funds Evolvence India Fund, Sistema Asia Fund and global construction investor, Foundamental. Returning investors Accel, Tiger Global and Nexus Venture partners also participated in the round.

Dunzo: Hyperlocal logistics platform Dunzo raised Rs 27.5 crore ($3.7 million) in a growth funding round from returning investor Alteria Capital. The fresh infusion, carried out by Milestone Trusteeship Services on behalf Alteria Capital India Fund I, involves a mix of debt and equity components.

Exotel: Bengaluru-based customer communication platform Exotel has raised Rs 40 crore ($5.4 million according to current exchange rates) from A91 Partners in a mix of primary infusion and secondary share purchase.

Clovia: Delhi-based Purple Panda Fashions, which operates online lingerie retailer Clovia, has raised $4 million (about Rs 29.5 crore at current exchange rates) in a round dubbed pre-Series C, led by  Golden Birch Investments and SheCapital Venture Fund.

Funds:

Alteria Capital: Venture debt fund Alteria Capital will be raising Rs. 1,000 crores ($135 million as per current exchange rates) for its second fund. It is also keeping a green-shoe option of Rs. 750 crores. Meanwhile, after getting approval from SEBI for the new fund, it is expected to close the first close in the first half of 2021.