The fourth week of February witnessed a total of $699 million invested across 48 transactions, continuing the month’s tepid funding trend. This illustrates an around 29 percent significant drop from the $984 million in funding that Indian startups attracted between February 14 and February 19 across 34 transactions. Meanwhile, the funding for four of the total funded startups remained undisclosed.
This week also saw the incorporation of two unicorns: Hasura, a GraphQL developer platform, and Perfios Software Solutions, a fintech SaaS-based platform. This week’s most active investor(s) were Kalaari Capital, Lightspeed Venture Partners, A91 Partners, Bessemer Venture Partners, and Omidyar Network, which each closed two deals.
Here’s a quick rundown of all the top startup fundraising:
MediBuddy scoops up $125 million
MediBuddy, an end-to-end digital healthcare platform, has scooped up $125 million in a Series C round of funding led by Lightrock India and Quadria Capital. The round also saw participation from existing investors Alteria Capital, Bessemer Venture Partners, FinSight Ventures, India Life Sciences Fund III, InnoVen Capital, JAFCO Asia, Rebright Partners, TEAMFund LP, and Stride Ventures. The startup states it is the largest funding round in the Digital Healthcare services category. The comprehensive healthcare platform will use the fresh capital to increase customer awareness, attract new talents and expand its technology platforms, which include clinical research, data science capabilities, and product development. Avendus Capital acted as the exclusive financial advisor to MediBuddy for this transaction.
Niyo bags $100 million
Niyo, a Bangalore-based neo-banking startup, has secured $100 million in a Series C round led by Lightrock India and Accel, alongside Beams Fintech Fund. The round also saw participation from existing investors JS Capital, Prime Venture Partners, among others. Avendus Capital acted as the exclusive financial advisor to Niyo for this transaction. The proceeds will be used for product innovation, marketing & branding, expanding its distribution footprint, as well as attracting top talent across functions, according to the company. Niyo also plans to deliver comprehensive financial services to more than 30 million consumers through organic and inorganic growth, the company added.
Hasura raises $100 million
Hasura, a GraphQL SaaS startup, has joined the elite unicorn club after raising $100 million in its Series C funding round led by Greenoaks at a $1 billion valuation. Existing investors Lightspeed Venture Partners, Nexus Venture Partners, and Vertex Ventures also participated in the funding round. Hasura has raised a total of $136.5 million in the capital, so far. The fresh funds, according to the company, will be used to drive research & development as well as maximize go-to-market operations for the company’s GraphQL platform, which allows even individuals with no GraphQL expertise to efficiently and simply design a GraphQL API from existing APIs and databases.
Perfios enters unicorn club with $70M funding from Warburg Pincus, Bessemer
Facilio racks up $35 million
Facilio, a Chennai-based property operations software startup, has secured $35 million in a Series B funding round driven by Dragoneer Investment Group, with participation from Brookfield Growth, as well as existing backers Tiger Global Management and Accel India. The investment will facilitate R&D, product development, the expansion of the company’s global footprint, and the growth of its sales, marketing, and engineering teams in areas such as the United States, United Kingdom, Europe, the Middle East, Singapore, and Australia. Prabhu Ramachandran, Founder & CEO, Facilio, said that the company currently has 125 employees and will have 200 by the end of the year.
