• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, June 18, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Funding News: CarDekh, Hubilo, Open among others raised $667.5 million this week

by Balraj
October 18, 2021
in Business, India News, Startups, Trending
Reading Time: 3 mins read
0
$100 dollar background

Courtesy: jcomp via Freepik

TwitterWhatsappLinkedin

Until last week, it seemed that the festive season had hampered investment in the Indian startup ecosystem. During this festive week, the Indian startup ecosystem only attracted $667.5 million through 26 deals.

You might also like

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

Adobe’s Firefly Expands to iOS and Android, Bringing Powerful AI Tools to Mobile Devices

Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

The capital is about half of what Indian startups raised last week. The ecosystem managed to raise around $1.3 billion between October 4 and October 10. Aside from raising funds, the Indian startup ecosystem welcomed the entry of two startups – CarDekho and Mobikwik into the prestigious unicorn club.

The e-commerce sector represented around 46 percent of the total capital raised across the 26 deals. Five transactions were completed in the sector, totaling $311 million. The fintech sector came in second, accounting for 20 percent of the total with $139.5 million.

$100 dollar background
Courtesy: jcomp via Freepik

CarDekho bags $250 million

CarDekho, an online marketplace for new and used cars, has become the latest startup to earn unicorn status in the world’s second-largest market. The 14-year-old startup announced that it has raised $250 million in its Series E financing round, comprising $200 million in equity and $50 million in debt. LeapFrog Investments led the round, which valued the Jaipur-based startup at $1.2 billion.

Hubilo raises $125 million

Hubilo, the global virtual events platform, has secured $125 million in Series B fundraising led by Alkeon Capital, with participation from Lightspeed Venture Partners and Balderton Capital. The Ahmedabad and San Francisco based startup plans to use the funds raised from the Series B round to set up new business operations, improve platform innovation, and expand the company’s product, engineering, and design teams in India, as well as go-to-market teams in the US, UK, EMEA, and APAC.

Open secures $100 million

Open, a neo-banking platform for SMEs, has secured $100 million (~Rs 735 crore) in a Series C funding round backed by Singaporean holding company Temasek. The round also featured participation from Google and Japan-based SBI Investment alongside existing investors Tiger Global Management and 3one4 Capital valuing the startup at roughly $500 million. The funds will be used to strengthen and accelerate the development of Open’s new product offering, which comprises its embedded finance platform, Zwitch, and cloud-native banking platform BankingStack.

Fraazo bags $50 million

Fraazo, an online D2C vegetable, and fruit brand announced that it had raised $50 million (~Rs 377 crore) in a mix of equity and debt round of funding. According to the company, the Series B funding round was backed by WestBridge Capital alongside existing investors Apar Group, Equanimity Investments, Sixth Sense Ventures, as well as notable Indian family offices, including Manish Choksi of Asian Paints. The investment allows Fraazo to build a network of 500+ dark outlets in the top 15 Indian cities as well as to expand its delivery network as it gears up for a multi-city rollout across India.

M2P raises $35 million

M2P Fintech, an API infrastructure startup based in Chennai, has secured $35 million in a Series C funding round backed by US-based investment firm Tiger Global Management. The round also saw participation for existing investors which include BEENEXT, Better Capital, Omidyar Network India, Flourish Ventures, 8i Ventures, and the DMI Group through its investment vehicle Sparkle Fund.

The proceeds will be used to strengthen the company’s application programming interface infrastructure and scale up its presence outside Asia. M2P Fintech announced that it has accumulated its revenue by 400 percent year over year and now handles more than $10 billion in annualized payments volume through 500+ fintech partnerships.

Related:

Silk-tech startup ReshaMandi raises $30 million in Series A funding round

Melorra raises $24 million in fresh funding led by 9Unicorns among others

 

Tags: CarDekhoFraazofunding newsHubiloLightspeed Venture PartnersM2P FintechMobikwikOpenTiger Global ManagementWestbridge Capital
Tweet54SendShare15
Previous Post

Instacart’s embattled gig workers to go on nationwide strike

Next Post

Elon Musk from rich and richer to the richest after strong Tesla, SpaceX valuations

Balraj

Balraj writes about Startup, Business, Technology related news on Techstory... For Business Enquires related to TechStory; Get in touch on: [email protected]...

Recommended For You

Google Pixel 10 Series to Debut Tele-Macro Camera and Tensor G5 SoC

by Anochie Esther
June 18, 2025
0
Pixel 10 series

Google is set to unveil its Pixel 10 series on August 20, and early leaks have already started shedding light on some exciting new features. One of the...

Read more

Adobe’s Firefly Expands to iOS and Android, Bringing Powerful AI Tools to Mobile Devices

by Anochie Esther
June 18, 2025
0
Firefly

Adobe has officially extended its Firefly platform to mobile users with the launch of dedicated apps for iOS and Android. The move signals a significant evolution in Adobe’s...

Read more

Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

by Harikrishnan A
June 18, 2025
0
Kids Stage Virtual Protests Against ICE on Roblox as National Unrest Grows

As political tensions over immigration enforcement continue to boil across the United States, an unexpected group has taken a stand—kids. But rather than taking to the streets, they’re...

Read more
Next Post
Elon musk

Elon Musk from rich and richer to the richest after strong Tesla, SpaceX valuations

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?