Deal Street: Unacademy Raises $50 Million; Akshay Kumar Turns Investor In GOQii

Six Indian startups raised nearly Rs 1,000 crore in angel, seed and venture capital funding across sectors such as pharmacy, education, fintech, among others last week.

1mg Raises $70 Million From Investors

Gurugram-based online pharmacy startup 1mg raised $70 million (Rs 483 crore) in its growth funding round led by Switzerland-based family office Corisol Holdings.

International Finance Corporation and a consortium of venture funds from South Korea—led by Redwood Global and Korea Omega Healthcare Fund—also took part, 1mg said in a statement. Existing investors Sequoia Capital, Maverick Ventures, HBM Healthcare Investments, Omidyar Network and Kae Capital also put in money.

1mg said it will use the funds to boost growth, invest in supply chain and improve artificial intelligence capabilities. It also aims to launch innovative care delivery models and expand partnerships with hospitals, insurance and pharmaceutical companies and the government.

1mg allows customers to order medicines, consult doctors and also purchase health products on its platform. Users can also book diagnostic services.

Unacademy Raises $50 Million

Unacademy, an online coaching platform for competitive exams, raised $50 million (around Rs 346 crore) in a growth funding round from Steadview Capital, Sequoia Capital India, Nexus Venture Partners, Blume Ventures and others.

Haptik co-founder Aakrit Vaish, and Udaan Co-Founder Sujeet Kumar also participated in the round, the company said in a statement. Co-founders Gaurav Munjal and Roman Saini also participated.

The startup, which claims to have more than 10,000 educators and 13 million learners on its platform, said it will use the funds to onboard more educators, fuel growth across multiple exam categories.

The education technology startup recently launched Unacademy Plus, a subscription-based model which offers students “unlimited access to live courses”. More than 50,000 learners have subscribed to Unacademy Plus so far, the startup said.

Tiger Global Leads $30 Million Round In Open Financial Technologies

Open Financial Technologies Pvt. Ltd., which provides collection and payout automation services to small businesses, raised $30.2 million (Rs 210 crore) in a round led by Tiger Global.

Tanglin Venture Partners Advisors and existing investors 3one4 Capital, Speedinvest and Better Capital AngelList Syndicate, also participated, the company said in a statement.

The Bengaluru-based startup said it will use the investment to increase its product offerings. The firm also aims to reach one million small and medium-sized enterprises in the next one year.

Founded in 2017, the startup offers business accounts in partnership with banks and helps automate and run finances. It also offers a payment gateway, automated prepaid cards, and connections to multiple banks.

Stock Trading Startup Streak AI Technologies Raises $1 Million

Streak AI Technologies Pvt. Ltd., which caters to retail stock market investors, raised $1 million in fresh funding led by early-stage investor 3one4 Capital.

3one4 is managed by Pranav and Siddarth Pai, sons of former senior Infosys executive TV Mohandas Pai. Existing investor Rainmatter Capital also participated in the round, the company said.

Founded in 2017, Streak’s cloud-based technology allows retail investors to validate their trading strategies and implement them in live trades. The startup claims that no coding skills are required to trade algorithmically on its platform.

Others

Gurugram-headquartered grocery delivery startup Milkbasket raised $2 million in debt funding from Innoven Capital, the company said in a statement.

Mumbai-based wearable tech startup GOQii raised an undisclosed amount in funding from Bollywood actor Akshay Kumar, who will also be a strategic advisor to the firm, the company said in a statement.