Weekly Rundown: Pristyn Care is a unicorn; Byju’s seizes Austrian society; Shiprocket and Ola secure venture capital funding



Pristyn Care, a healthcare startup specializing in affordable surgical care, has become India’s newest unicorn after raising $ 100 million for a valuation of $ 1.4 billion this week. Series E was led by Sequoia Capital US with participation from Tiger Global, Hummingbird Opportunity Fund and Winter Capital.

In its last known fundraiser, the Gurugram-based company was valued at $ 550 million when it raised a $ 53 million round led by Tiger Global in April 2021.

Edtech major Byju has acquired the GeoGebra learning platform, based in Austria. The agreement marks the tenth acquisition of edtech decacorn this year. GeoGebra’s dynamic, interactive and collaborative math learning tool has 115 million students on its platform, according to an official statement.

Also read: India added second highest number of unicorns after US this quarter: NASSCOM

The acquisition is in line with the ambitions of the Bengaluru-based company to expand overseas after a series of fundraising from a group of investors this year. On Friday, the company appointed former Bain & Company partner Rachna Bahadur as senior vice president to lead its global expansion plans.

In this role, Bahadur will lead the overall planning, strategy and roadmap for Byju’s expansion into new and existing markets.

E-commerce shipping platform Shiprocket topped the fundraising tables this week with a $ 185 million (Rs 1,380 crore) Series E funding round co-led by Zomato Ltd, Temasek and Lightrock India . Moore Strategic Ventures and 9licorns entered as new investors while existing investors InfoEdge Ventures and March Capital participated.

This transaction marks Shiprocket’s third funding round in 2021, which would bring its total funding to $ 280 million.

Also read: Byju’s makes tenth acquisition this year with GeoGebra math learning platform

Transit giant Ola has raised more than 1,049 crore rupees (about $ 139 million) from Edelweiss and IIFL Holdings for a valuation of more than $ 7 billion, according to multiple media outlets. Meanwhile, the company is in talks to raise a pre-IPO round of more than $ 1 billion at a valuation of $ 7.5 billion, according to a new report from PTI.

The Bizongo packaging materials platform pocketed $ 110 million (Rs 825 crore) in its Series D funding round led by Tiger Global. B Capital, CDC Group, IFC, Chiratae Ventures, Schroder Capital and others have participated in this cycle.

According to media reports, the round valued the company at $ 600 million.

The week was also marked by a major cycle of investment in the agro-technological start-up AgroStar. The company has secured $ 70 million in a Series D round of funding from private equity firm Evolvence, global asset management firm Schroders Capital, Hero Enterprises and UK development finance institution CDC.

Also read: Shiprocket to Raise $ 185 Million in Round Led by Zomato, Temasek, Lightrock India

Its existing investors Aavishkaar Capital, Accel, Bertelsmann, Chiratae Ventures and Rabo Frontier Ventures also participated in the round.

Health Startup Suki.ai, MoEngage Customer Engagement Platform, Spinny Full Battery Used Car Retail Platform, Pocket FM Audio Streaming Platform, Engagement Talent and the SenseHQ staffing platform also attracted significant rounds this week.



About Author

Comments are closed.