Byju’s $300 million funding round
Byju’s
is raising Rs 2,200 crore, about $300 million, in a funding round led by Oxshott Venture Fund, regulatory filings sourced through Tofler showed.
Edelweiss’s Crossover Opportunities Fund, Verition Multi-Strategy Master Fund, XN Exponent Holdings and MarketX Ventures will also participate in what will be a Series F round for the Bengaluru-based company.
The edtech startup will allot 77,174 compulsory convertible cumulative preference shares at a premium of Rs 285,062, according to the filings. Oxshott Venture Fund is expected to invest Rs 1,200 crore, while XN Exponent Holdings will invest Rs 150 crore and Verition Multi-Strategy Master Fund will invest Rs 147 crore, the filings reveal.
Byju’s,
valued at $16.5 billion after its last funding round in April, is reportedly in talks with investors to raise $1.5 billion at a valuation of around $20-$21 billion.
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Licious turns unicorn after $52-million funding
Online meat vendor Licious has raised $52 million in its Series G round, led by IIFL’s Late Stage Tech Fund and Avendus, a senior executive told ET.
The round values the company post-money at $1.05 billion, making it the 29th entrant to the coveted unicorn club of startups valued at $1 billion or more.
“We will use these funds to grow our offline business, further our ready-to-eat product portfolio and for our geographic expansion,” Vivek Gupta, cofounder of Licious, told ET.
A16z makes first India bet in CoinSwitch Kuber, turns it unicorn
CoinSwitch Kuber, a cryptocurrency platform for retail traders,
has raised $260 million in what is the largest funding round by any crypto company in India.
The fundraising was co-led by Silicon Valley-based venture fund Andreessen Horowitz and Coinbase Ventures, the corporate venture arm of Nasdaq-listed Coinbase Inc. While Andreessen Horowitz has pitched in $80 million, Coinbase Ventures has invested $150 million in the current round. The rest has come from existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global.
This is also the first investment from Andreessen Horowitz in an Indian startup,
and the first of many to come, if tweets by its general partners are anything to go by.
Post this funding, CoinSwitch Kuber’s valuation has surged nearly four times to $1.9 billion,
compared to around $500 million less than six months ago, making it the 30th Indian unicorn this year.
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Rebel Foods turns unicorn after $175-million funding
Rebel Foods, which operates a network of cloud kitchens and digital brands,
has raised $175 million in a round led by Qatar Investment Authority (QIA), the country’s sovereign wealth fund. Existing investors Coatue and Evolvence India also participated.
The Series F round turned the company into a unicorn with a valuation of $1.4 billion. It is the 31st Indian startup to achieve the feat this year. Rebel Foods said it is setting a course for an initial public offering in the next 18-24 months.
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Nazara raises Rs 315 crore from marquee investors
Nazara Technologies, India’s first listed gaming company backed by billionaire investor Rakesh Jhunjhunwala,
has raised Rs 315 crore from marquee investors by issuing fresh equity to them.
The allotment is subject to shareholders’ and regulatory approvals.
“The company will issue 1,429,266 equity shares of face value of Rs 4 each at a price of Rs 2,206/- per equity share (including a premium of Rs 2,202 per equity share),” according to a regulatory filing on Wednesday. These shares will be locked in for a period of one year from the date of issue, as per SEBI guidelines.
The capital will be used for growth initiatives as well as to pursue strategic acquisitions across verticals to expand the company’s “Friends of Nazara” ecosystem, the filing stated.
ETtech
Other Top Deals Of The Week
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Twin Health, makers of precision health monitoring equipment,
has raised $140 million (Rs 1,000 crore) in a Series C funding round to scale its presence in India and the US.
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Chingari, a short-video sharing platform,
has raised $19 million in crypto tokens from over two dozen venture funds and individuals to launch a token called $GARI powered by Solana’s blockchain.
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Log 9 Materials, a startup building advanced lithium-ion batteries and fuel cells,
has raised $2 million from Petronas Ventures. The investment brings to a close the company’s $10 million Series A+ round.
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Qapita, an equity management platform,
has raised $15 million in a Series A funding round led by East Ventures and Vulcan Capital to build an “operating system” for private markets in the Southeast Asia region.
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Stader Labs, a cryptocurrency staking management platform,
has raised $4 million in a seed round led by Pantera Capital to accelerate product development across multiple blockchains and marketing efforts geared towards a global crypto audience.
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