Top Funding Of The Week
Amid the rising fear of funding winter and recession going on globally. Few Indian startups have managed to secure a decent amount of funding this week usually above the mark of $10 million. The funds raised in all the startups were usually for the motive of expansion, innovation and product development. Here are the few startups that still validate growth in the future amid the negative times.
Vedantu acquires a majority stake in Deeksha or $40 million
Vedantu acquires majority stakes in Deeksha an offline class for $ 40 million. Deeksha is a test preparation platform in Karnataka for the board and competitive exams. Vedantu will seek leverage in this partnership and will integrate into offline centres to create a scalable hybrid model which will provide access to quality teaching in remote areas of Tier III and Tier IV towns at affordable cost.
Singapore-Based Pillow Secures $18 Mn In Series A Round
Singapore-based Pillow raised $18 million in series A Funding co-led by Accel, Quona Capital, Elevation Capital and Jump Capital. It is a crypto investments platform which tries to create simple, transparent, accessible products including crypto investing, crypto savings, crypto payments and other financial services.
Assiduus Global Raises Over $15 M To Expand Global Footprint
Assiduus, the world’s fastest-growing AI-powered cross-border E-commerce Accelerator dedicated to benefiting D2C brands launch, scale, and grow across global E-commerce marketplaces, raised USD15 million in a funding round led by Pulsar Capital with participation from 9Unicorn, Venture Catalyst, StrongHer VC, Carlos Cashman (Founder of Thrasio), Rajan Navani (JetLine Group of Companies) and others. The appropriated funding shall enhance the technological architecture and business expansion across international markets like Europe and South-East Asia.
Adda247 Secures $35 M From Google, Others
Metis Eduventures, which operates the vernacular test preparation portal Adda247, has raised $35 million (about Rs 280 crore) in a new round of funding backed by private equity company WestBridge Capital. Google was also a new investor in the round. the latest fund infusion catapulted Adda247’s valuation to $175 million (around Rs 1,400 crore), Existing investors Info Edge and Asha Impact also participated in the round.
Isthara Raises $10 M In Funding Round Led By Eagle Investment
Isthara co-living brand and Smart Food Court startup raises fresh funding of $10 million (₹81 crores) led by Dubai-based Eagle Investments. The current funding round brings Isthara’s total fund-raise to about $21 million. Isthara currently operates in the co-living and .institutional smart food court space and will deploy the new funds to foray into the B2C retail food court space and expand its presence in the co-living sector.
Good Health Raises $10 M In Series A Funding
Healthtech startup Good Health Company (GHC) raises $10 million in a Series A Funding round led by Left Lane Capital. The other participants in the round were Khosla Ventures, Quiet Capital and Weekend Fund. It is a Direct to consumer startup based in Hyderabad. The funds will be used to introduce more product categories, expand the team and innovate the product.
