Weekly Funding Roundup Sep 13-19
Nazara secures the highest funding amounting to 900 crore and Aye Finance is at bottom with Rs 250 crore
As the government started the Bhaskar platform to enhance collaboration among startup stakeholders. This week saw notable funding rounds for startups in fintech, gaming, eSports, and ad tech, positioning them to disrupt their markets. Here are the top five funding stories of the week.
The top 5 funding from last Friday to this Thursday collectively secured USD 260 million, highlighting the growing investors' trust in the industry.
Here's The Top Funding Of The Week
Nazara Technologies Secures Rs 900 Cr Increases Stake In Sportskeeda
In a parallel development, Nazara also acquired an additional 19.35 per cent stake in Absolute Sports, the parent company of Sportskeeda, for Rs 145.5 crore, with 50 per cent of the consideration paid in cash and the remaining amount in stock. With this, Nazara now holds a 91 per cent ownership stake in Absolute Sports, solidifying its leadership position in the sports media domain.
M2P Fintech Raises USD 50 Mn from Taj Investment Holdings
In FY23, M2P's operating revenue surged 2.26 times to Rs 440.7 crore, although losses also increased to Rs 134.26 crore. The firm has yet to disclose its FY24 results. M2P has also expanded its employee stock option pool by 38,700 options, increasing the total to 1,29,140.
Redcliffe Labs Raises USD 42 Mn In Series C Round
Denmark’s investment fund for developing countries lead the funding round with USD 20 million, followed by existing investor LeapFrog Investments with USD 15 million. This fresh injection of capital will fuel Redcliffe's expansion plans, focusing on deepening its presence in Tier II and III cities across India.
Everest Fleet Raises USD 30 Mn from Uber At USD 425 Mn
The investment involves the issuance of 13,726 Series C preference shares. Uber has become the largest external stakeholder in Everest Fleet, holding an 11.37 per cent stake, while founder Siddharth Anand Ladsariya retains 52 per cent
Aye Finance Secures Rs 250 Cr Just 8 Months After Raising Rs 310 Cr In Series F
With this round, Aye’s equity raise totals Rs 1250 Crores and ABC Impact has a growing AUM of over USD 850 million.
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