Its still the first month of the new financial year, but it’s still been a great one for Indian based start-ups. The Indian start-up group successfully raised more than $532 million USD in only 7 days. This amount of investment involved 28 separate Indian companies.
In fashion of the previous week, no new company was able to reach the status of a unicorn. A unicorn refers to any start-up that has attained a valuation of at least $ 1 billion USD. This is a milestone for any company looking to reach the top and dominate their respective industry.
Many staples start-up investing capital management and venture capitalist for Indian start-ups took part in the investments this week such as Sequoia Capital, Alpha Wave Global.
Incoming IPO increases their Employee Stock Ownership Plan
Ecom Express is a start-up that was founded 10 years ago in 2012, is one of the bigger players in the Indian logistics industry. The company increased their employee stock ownership plan by adding 126 thousand new options which is approximated to have a value of $15 million USD.
The company also injected funds to one of their subsidiaries called PaperFly which is a start-up company based in Bangladesh.
The company whose head office is situated in the capital will also be releasing shares that have a value of Rs. 2160 crores as it plans to get listed on to the stock exchange.
Other acquisitions
A start-up in the agricultural field named Dehaat, purchased 75.5% of Y-cook for just over $3 million USD.
E-commerce direct to consumer firm Flipkart, which is owned by American giants Walmart just acquired a SaaS company known as ANS Commerce. The details about this transaction have not been revealed to the public.
After getting full ownership of Active.Ai, Gupshup continued their streak of investment and gained full ownership of another start-up called AskSid.
TribeVibe is a start-up that acts as a platform for event organizers looking to get into colleges around India. This company has been almost fully acquired Bookmyshow which is platform for people to purchase tickets for movies and events.
E-commerce direct to consumer firm Nykaa, made three acquisitions this week by bringing Nudge Wellness, Earth Rhythm and Kica into their family of companies.
These are just some of the fundings that have taken place over the past week. It seems like the growth of new Indian companies has not slowed and will not any time soon which is great news for employment opportunities and the Indian economy as a whole.
