OfBusiness and Bizongo
Raw material sourcing startup ofbusiness made big news this week with a 3540 cr fundraise from several investors including Falcon Edge chipping in Rs 1,332cr, followed by Tiger Global with Rs 761cr, and lastly, SoftBank with Rs 380cr. The rest is secondary. On similar lines, but only focused on packaging, Bizongo raised 825 cr led by Tiger and other investors. At this rate, I feel the annual vacation time kicks in for investors, but we can still expect significant deal volume even in the last week of the year.
Deals in meat, egg, and veggies
Other deals we noted were in meat (Captain Fresh, Tendercuts), egg (Eggoz), and veggies (Waycool) categories. It is party time for the year we guess.
- Captain Fresh raised 302 cr from Tiger and existing investors including Accel, Matrix, Ankur Capital and Incubate Fund for building deeper integrations across the supply and demand networks.
- Tendercuts raised venture debt from Stride of about 30 cr to fund its expansion across the country. That I guess marks an end to the hyperactive year for venture debt funds.
- Eggoz raised 26cr in Series A round led by Nabventures with participation from Avaana Capital, Rebright Partners, Bellerive Capital, and angel investors. Eggoz will use the fund towards increasing its brand footprint and launching egg-based products.
- Finally in this category, Agri-commerce startup WayCool Foods raised 88 cr from Gawa Capital as part of its Series D round. Waycool intends to use the proceeds to accelerate and leverage deep tech and automation to enhance its efficiency.
Fintech deals
- The next set of deals we cover are from the fintech sector, you guessed it Kunal Shah, Amrish Rau participated in a couple. First is Tyke, that is allowing digital fund raising for startups from their platform, raised $1.5 million as pre seed from 9Unicorns, Better Capital, Ratio Ventures, and Venture Catalysts. The round also saw participation from clutch of angels including Jitendra Gupta, Sweta and Amrish Rau, Varun Mittal, Sandeep Aggarwal, Navin Surya, and Ajay Rajan.
- The next fintech deal of a similar size ($1.5 million) was in Minko, that provides credit to Kirana and retail shop owners. Minko’s investors included LC Nueva AIF*, Shanti Mohan and Kunal Shah, Pratekk Agarwaal, Ex-CBO, BharatPe, Uni Cards Founder & CEO Mr. Nitin Gupta, Mr. Parminder Singh, Ex-MD Twitter & Google (APAC), Mr. Jaimin Bhatt, CFO at Kotak Mahindra Bank, Mastercard VP Mr. Shyam Mohan, Ms. Deepthi Rao, Product Manager, Facebook Pay, General Partner at PointOne Capital Ms. Archana Priyadarshini, Kudos Finance and Investments Pvt Ltd (NBFC), SlideShare Ex-Co-Founder & COO Mr. Amit Ranjan, and Mr. Vivekananda Hallekere, Co-founder & CEO at Bounce along with AngelList. Busy cap tables indeed.
Other deals
The other interesting deals happened in clean tech, where CleanMax raised $34 million to expand its commercial/industrial portfolio and Cycle maker 91 raised 225 cr from A91 at a valuation of 1000 cr.
At the consumer level we saw a bunch of deals starting with a brand acquisition of Good Glamm that pumped 100 cr into Sirona for a majority stake in the fem-hygiene products company. Social side also saw couple of deals, first was FRND app added 49 cr to its kitty to develop its dating app. Social commerce app Gobillion raised 22 cr rom YC and Soma capital and others to fund its, category expansion and tech development.
The year is not over, but we at privatecircle.co are happy that we got to a rhythm in bringing these weekly summaries over the past few months. Happy new year 2022 to our readers and see you on the other side with more summaries and deal action.