Deal Street: Indian Startups Raised Nearly $100 Million Last Week 
(Source: BloombergQuint)

Deal Street: Indian Startups Raised Nearly $100 Million Last Week 

Deal street continues to remain upbeat with investments.

The week gone by saw seven startups raising $98 million from angel investors and venture capitalists across sectors, including food delivery, hyperlocal delivery, health technology and logistics, 15 percent higher than the amount reported in the prior week.

Bengaluru-based online food delivery startup mopped up the bulk of the funding...

Swiggy Raises $80 Million From Naspers, Others

(L-R )-Nandan Reddy, Rahul Jaimini, Sriharsha Majety, founders Swiggy. (Source: Swiggy)
(L-R )-Nandan Reddy, Rahul Jaimini, Sriharsha Majety, founders Swiggy. (Source: Swiggy)

Online food delivery startup Swiggy raised $80 million (around Rs 532 crore) in its sixth round of funding led by South African media group Naspers Ltd.

Existing investors – Accel Partners, SAIF Partners, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners – also participated in what is Swiggy’s largest fund-raising yet, the company said in a statement.

Swiggy will use the funds to introduce new products and service offerings to enhance customer experience. This will include doubling its headcount in the technology division covering core engineering and automation.

“This investment by Naspers is further testimony to Swiggy’s vision and performance,” said Sriharsha Majety, co-founder and CEO, Swiggy.

Also Read: Uber Bites Into Tough-Nut-To-Crack Food Delivery Market

Hyperlocal Discovery Platform Magicpin Raises $7 Million

Hyperlocal discovery platform Magicpin raised $7 million (around Rs 46.5 crore) in its Series B round of funding from Lightspeed India Partners, Waterbridge Ventures, and two global family offices. Srivatsan Rajan, chairman, Bain & Co India, and Sahil Barua, CEO of Delhivery, also participated in the round, the company said in a statement.

The funds will be used to enhance the product, strengthen the leadership team and to expand across categories and geographies.

Magicpin aims to create a social platform to help people connect and discover shops, restaurants or other services around them. The app offers Instagram-like features where users can take pictures and selfies to avail offers and discounts at neighborhood stores. The platform also provides real-time promotions, loyalty programmes and content updates.

Currently present in Delhi-NCR, Mumbai and Bengaluru, the startup is said to have more than a million users with over 5 million shared experiences and average daily sessions of more than 30 minutes.

Magicpin is modeled around China’s Meituan-Dianping, which in January raised $3.3 billion at a valuation of $18 billion.

Collateral Medical Raises $3.5 Million

Mumbai-based Collateral Medical, an online distributor of medical devices, raised $3.5 million (around Rs 23 crore ) in Series A investment from Carpediem Capital, a small and medium enterprises-focused private equity fund, the company said.

The funds will be used to strengthen its distribution capabilities, expanding the service network and strengthening the IT infrastructure.

Collateral Medical is an online marketplace for medical products, equipment, and other raw materials. It focuses on supplying medical devices for doctors, clinics, and small and medium hospitals across Tier II and III cities in the country.

Intellecap’s investment banking group advised Collateral Medical on the deal.

Grocery Startup Supr Daily Gets $1.5 Million From Silicon Valley Investors

Shoppers browse household goods at a hypermarket. (Photographer: Dhiraj Singh/Bloomberg)
Shoppers browse household goods at a hypermarket. (Photographer: Dhiraj Singh/Bloomberg)

Mumbai-based groceries subscription startup Supr Daily raised $1.5 million (Rs 10 crore) from Silicon Valley-based Soma Capital, Great Oaks Ventures and 122 West Ventures. Paul Buchheit and Jared Friedman, partners at US-based startup accelerator Y Combinator, and Roger Egan, founder of RedMart, a Singapore-based online grocery platform, also participated in the round.

Founded in 2015, the startup delivers daily consumable goods such as milk, bread, eggs and coconut water to users every morning. It follows a direct-to-consumer model adopted from the daily milk use-case in India to make deliveries.

Supr Daily had last raised $120,000 from Y Combinator in March. In December 2016, the company had raised an undisclosed amount in a round led by angel investors from Venture Catalysts, a seed investment platform.


Japanese firm Rohto Pharmaceutical Co invested $5 million (over Rs 32 crore) to acquire a 13 per cent stake in SastaSundar, an online pharmacy . The firm is looking to launch operations in the national capital with plans to expand in 12 states across the country, the Economic Times reported.

Bengaluru-based Loadshare, a tech platform catering to small and medium-sized enterprises in the logistics space, raised an undisclosed amount in its first round of institutional funding from Matrix Partners. The startup will use the funds to expand the team and build a technology platform for logistics SMEs, and expand their network reach, Matrix Partners said in a statement.

Home rental platform Cozee Homes raised $150,000 (Rs 1 crore) in a seed funding round led by Ramaswamy Varadharajan, former managing director of Gulfspic. Naveen Kumar, partner at MBM Constructions, and Balan from Udhayam group of hotels, also participated in the round, the company said in a statement. The company plans to use the money to continue its expansion into Bengaluru and Chennai, as well as ramp up it’s offering for home owners and tenants.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.