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Cardekho and Mobikwik become unicorns, Fraazo raises $ 50 million, Melorra gets $ 24 million, and Toch.Ai pockets $ 11.75 million in Series A


CarDekho becomes unicorn with $ 250 million fundraiser

Car research platform CarDekho announced a $ 250 million funding round that included $ 200 million in Series E equity and $ 50 million in debt in its pre-IPO round. With the latest fundraiser, CarDekho joins the unicorn club with a valuation of $ 1.2 billion. The funding round was led by LeapFrog Investments, a global impact investor focused on financial services and access to healthcare.

This is CarDekho’s largest fundraiser and the company said the proceeds from the sale will be used to accelerate CarDekho’s growth in used car transactions, financial services and insurance business. , and to create product and technology functions, increase brand awareness and expand into new markets. The CarDekho team is currently present in India, Indonesia and the Philippines and aims to use the funds to expand internationally. The company’s automotive and non-automotive products are currently in use in more than 30 countries around the world.

MobiKwik digital payment service transforms unicorn ahead of IPO

The valuation of fintech platform MobiKwik has crossed the billion dollar mark, making it the 33rd Indian start-up to become a unicorn this year. The development comes after MobiKwik staff exercised their employee share ownership plan (Esop) during a secondary sale. The sale was led by Mathew Cyriac, former head of Blackstone India.

According to media reports, Cyriac bought shares at nearly double the price he had invested in the start-up earlier this year. Earlier this week, the startup received the green light from Sebi to launch an Initial Public Offering (IPO) of Rs 1,900 crore. In its draft prospectus on red herring (DRHP), MobiKwik revealed that it had reserved 4.5 million shares for Esop. Its public offering is expected to hit the market before Diwali.

D2C Brand Fraazo Raises $ 50 Million in Series B: Reports

The D2C brand in the fresh fruit and vegetable category Fraazo raised $ 50 million in a Series B funding round led by WestBridge Capital. Existing investors Sixth Sense Ventures, Equanimity Investments, Apar Group, as well as leading Indian family offices, including Manish Choksi of Asian Paints, also participated in the round.

According to reports, the funding cycle is a mix of equity and debt. After experiencing 5X growth in the last quarter, Fraazo is preparing to hit 10 million monthly orders over the next 12-18 months. It aims to create a network of more than 500 dark stores in the top 15 cities.

Melorra secures $ 24 million in new funding

Jewelry brand D2C Melorra has raised $ 24 million, in a new round of funding, from 9Unicorns, Symphony International Holdings Limited, Value Quest, Venture Catalysts, Param Capital and family offices. The new capital raised will be used to upgrade the company’s technology stack, accelerate brand marketing and expand Melorra’s experience centers across India, the company said in a statement.

“We will focus on improving our operations and marketing and expanding our experience center footprint across the country,” said Saroja Yeramilli, Founder and CEO of Melorra. The brand has so far delivered to more than 2,700 cities in India and has achieved 200% year-over-year growth, Melorra said in a statement.

SaaS startup Toch.ai pockets $ 11.75 million in Series A

AI-based SaaS platform Toch.ai raised $ 11.75 million in funding in Series A round led by Moneta Ventures, Baring Private Equity India, Binny Bansal, Ventureast, 9Unicorns, Anthill Ventures, Cathexis Ventures, SOSV, Artesian and Innoven Capital.

According to the startup, the new funds will be used to expand its technology infrastructure and expand into global markets with a focus on overseas markets. Founded in 2016, Toch uses artificial intelligence technology to process video content, including live sporting events, TV shows, or library-based content, automatically and instantly.

Fintech start-up Niro obtains $ 3.5 million from Elevar Equity

Niro, a fintech startup focused on consumer loans, has raised $ 3.5 million (around Rs 26 crore) in a seed funding round led by Elevar Equity. The cycle also saw the participation of Kunal Shah of Cred, Nitin Gupta, Bala Parthasarathy, the Patni Family Office, R. Ramaraj and Aseem Dhru, among others. The company will use the funds to expand the team and expand its offerings. Founded in March, Niro will provide integrated credit products to consumer internet brands, which can then offer them to their customers.

Blockchain startup Arcana gets $ 2.3 million from Republic Crypto, Woodstock and others

Blockchain startup Arcana Network raised $ 2.3 million in a funding round led by Republic Crypto and Woodstock Fund. Other investors such as Digital Currency Group (DCG), Hyperedge, Sahil Lavingia shl.vc, Fenbushi Capital, LD Capital and Paradigm Shift VC. also participated in the round. The cycle also saw the participation of Ganesh Swami, CEO of Covalent, Ajeet Khurana, Buidlers Tribe, Nishal Shetty of WazirX, Ajit Tripathi from Aave, as well as the start-up investors from Arcana AU21 and Arcanum Capital who also invested in this cycle.

With this fundraiser, the company plans to expand its team, strengthen its product portfolio and launch Arcana’s XAR token soon, in addition to investing in community building. Founded in 2019, Arcana Network aims to be the most developer-friendly decentralized storage option among other storage platforms such as IPFS, Filecoin, Storj, Sia… and offers developers a privacy stack in addition to the storage to help applications securely manage data with privacy.

Inflection Point Ventures invests Rs 11.6 crore in AnKa SumMor

B2B supply chain startup AnKa SumMor has raised Rs 11.6 crore in a pre-Series A funding round led by Inflection Point Ventures. Angel investors like Pratul Shroff of Waao Partners, Brijesh Agrawal of IndiaMart and others also participated in the round. According to the company, the funds will mainly be deployed in geographic expansion, building its technology stack and improving its capabilities.

The startup will also invest in increasing infrastructure and resources to increase the number of points of sale served in order to generate growth for partner brands. In April, AnKa SumMor raised Rs 3 crore as part of its pre-series A round and now with this additional new investment of Rs 8.6 crore the round is closed at Rs 11.6 crore.

Edtech Playto Labs startup secures Rs 4 crore LPI seed funding

Startup Edtech Playto Labs raised more than Rs4 crore in a funding round led by Inflection Point Ventures. The cycle also saw the individual participation of partners of the next Disruptors Capital fund, including Raj Snehil Juneja (Chief Investment Officer), Krishna Kumar (Founder, Simplilearn), Kunal Walia (Founder, Simpliwork) and Shashwat Kumar (Managing Partner, Khetal Advisors). ), and entrepreneurs such as Tonmoy Shingal and Ketan Kapoor (founders, Mettl), Sachin Sharma (founder, Townscript), Rajesh Razdan (founder, Devtron Labs) and Kuldeep Dhankar (SVP, CleverTap) among others.

The funds raised will be used to build a strong team and expand its customer base, the company said in a statement. Playto Labs offers a combination of material toys and 1-1 online sessions with teachers acting as facilitators. Their pedagogy gives students the impression of playing while studying. Less than a year after launch, Playto Labs’ children’s products already have to pay customers in 33 countries and have seen strong month-over-month growth, the company added.

Wiingy Raises $ 400,000 in Angel Trick

Robotics startup edtech Wiingy pocketed $ 400,000 in an angel funding round. The cycle saw the participation of investors such as Aroa Ventures (Family Office of Oyo Founder Ritesh Agarwal), Abhinav Sinha (Global Chief Operating Officer, OYO), Maninder Gulati (Global, Chief Strategy Officer, OYO), Kavikrut (Chief Growth Officer, OYO), Rohit Kapoor (CEO, India-Southeast Asia, OYO) and Ashish Goel (Founding CEO, Urban Ladder), as well as Vineet Nanda (Founder Sift Capital) and Manish Chopra (Global Leader, Genpact).

According to Wiingy, the new capital will be used to develop and evolve its robotics kit supply chain and build a first team with technology, product, education and design skills. The company offers robotics kits and 1: 1 live coding and advanced science lessons for children ages 5 to 15.

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