Deal Roundup: Zenoti, Ecomm Express lead uptrend in dealmaking

Technology startups raised a total of $446.06 million across seven deals this week. Two startups did not disclose the amount raised.

SaaS startup Zenoti, which offers services to clients in the coronavirus-hit salon and spa segment, accounted for the largest share of the overall capital raised. The $160 million round propelled the startup into the coveted unicorn club.

Even as startups in the edtech sector scored $2.2 billion in 2020 alone, topping all fundraising records, upGrad this week announced its fifth acquisition in the past four years.

Funding

Zenoti: Zenoti, which offers cloud-based software solutions to salon and spa chains, closed a $160 million growth funding. The Bellevue, Washington headquartered firm received the capital from global private equity firm Advent International through affiliates Advent Tech and Sunley House Capital, as well as returning investors Tiger Global and Steadview Partners. 

Callify.ai: The Mumbai-based startup, which operates AI-based HR tech platform for working professionals, raised $560,000 in a seed funding round. The round was led by Malpani Ventures India, with participation from Venture Catalysts, Calega Ventures, the Chennai Angel Network and the Marvari Angel Network.

Ecom Express: Partners Group, a Swiss global private equity firm, said it will invest $250 million in Gurugram-based logistics services provider Ecom Express. With this, the private equity firm will become an equal shareholder to existing investor Warburg Pincus in the startup.

Arya: Arya Collateral Warehousing Services, which operates post-harvest agritech and agri-fintech platform Arya, raised $21 million in a mixed equity and debt round. 

The equity component of the Series B funding round was led by impact investment firm Quona Capital, with participation from returning investors LGT Lightstone Aspada and Omnivore. The debt component saw participation from undisclosed lenders, a statement said. As part of the round, Varun Malhotra, principal at Quona Capital, will join Arya’s board.

PagarBook: Employee management platform PagarBook raised $8 million in the latest tranche of the Series A funding round, led by Sequoia Capital India, with participation from India Quotient. The company had earlier raised $7 million in October, taking the total funds raised in the Series A round to $15 million. 

Shiprocket: Delhi-based D2C logistics aggregator Shiprocket has announced that it will raise $7.5 million funding in an extended Series C funding round from returning investor Tribe Capital and new investor March Capital. 

Pickrr: Delhi-based end-to-end logistics solution startup Pickrr raised $4 million in a funding round led by venture capital firm Guild Capital and impact investor Omidyar Network India.

Guitaa Technologies: Jaipur-based music learning platform Guitaa has raised an undisclosed amount in a seed funding round. The round was led by Startup Oasis through the NIDHI SSS fund under the Department of Science and Technology. Angels from ah! Ventures and JITO Angel Network also participated in the round, a statement said.

OnlineSales.ai: San Francisco, California-based monetisation and co-op marketing platform OnlineSales.ai raised an undisclosed amount in a bridge funding round, dubbed a pre-Series B round. The round saw participation from multiple institutions and angel investors, including IvyCap Ventures, Core91 VC, Vivek Bhargava, Samrat Zaveri, Ramakant Sharma and Saurabh Dangwal.

M&A

UpGrad: The edtech startup acquired recruitment and staffing solutions company Rekrut India for an undisclosed amount. Media veteran Ronnie Screwvala owned startup said the acquisition will open up wider placement opportunities for its career business.

Wellversed: Cricketer Yuvraj Singh-backed nutrition healthcare startup Wellversed has acquired Ghaziabad-based fitness coaching company Sportfit for an undisclosed amount. MS Dhoni-backed Sportfit offers physical activity plans along with diet counselling. Post deal, Aaris Kalra, who founded Sportfit in 2019, will be the sales lead at Wellversed, a statement said.