Razorpay in talks to raise about $250 million; eyes $4 billion valuation: Report
Fintech unicorn Razorpay is in talks with large global funds to raise $200-250 million at a valuation of around $4 billion, sources told the Mint. The payments platform is in talks with Tiger Global Management, Coatue Management, D1 Capital Partners and other technology-focused funds, including DST Global, Dragoneer Investment Group and Falcon Edge Capital, the report added.
The company counts Sequoia Capital, Matrix Partners and Rabbit Capital among its backers. It wasn’t clear whether any of the existing investors would sell their stakes in the upcoming transaction. Razorpay raised $160 million this year at a valuation of about $3 billion. The company has raised $366.5 million in investments to date.
AppsForBharat raises $10 million in Series A led by Elevation Capital and others
AppsForBharat, a product studio for spiritual and devotional content has scooped up $10 million in a Series A funding round led by Elevation Capital. Existing investors Sequoia Capital India, BEENEXT and Matrix Partners India, too participated in the round. Apart from that, angel investors including Tiger Global’s Scott Shleifer, DST Global’s Saurabh Gupta and Meesho’s cofounders Vidit Aatrey and Cred’s founder Kunal Shah also pitched in.
The company said it will use the funding for creating content IPs, building the product, and hiring talent across the product, data, and engineering verticals. Before this, in April, AppsForBharat had raised $4 million in seed funding co-led by Sequoia Capital India and BEENEXT which also saw participation from WEH Ventures. The firm has garnered $14 million so far, including the latest fundraising.
AI startup Peak secures $75 million in Series C
UK-based artificial intelligence startup Peak has raised $75 million in Series C round led by SoftBank Vision Fund 2, with participation from existing investors, including MMC Ventures, Oxx, Praetura Ventures, Arete, and Octopus Ventures. This brings Peak’s total funding raised till date to $119 million. This latest funding will fuel an ambitious global expansion, with new offices opening in both the USA and India, as well as increasing R&D investment in Peak’s Decision Intelligence software, stated the startup.
The company’s software platform enables companies to embed AI into the core of their decision making and operations. Peak has seen strong demand for its Decision Intelligence platform over the past 12 months, with revenues more than double with new customers in Europe, the USA, Middle East, and India, the company said in a statement.
Teachmint in talks to raise fresh funds at over $500 million valuation: Report
Edtech startup Teachmint is in talks with new and existing investors to raise a new round that will push the company’s valuation to half a billion dollars, Entrackr reported. As per the report, Teachmint is raising over $70 million in a new round at over $500 million valuation from new and existing backers including Learn Capital and Lightspeed.
New investors are likely to put in $30-40 million followed by existing investors. The round could go up to $90 million as inbound interest from investors in the company is very high, the report added. If the deal goes through, Teachmint will become the fifth most valued edtech startup after Byju’s, Unacademy, Eruditus and upGrad.
Invest-tech platform dezerv. secures $7 million
dezerv., an expert investing platform, has raised $7 million in a seed funding round co-led by Elevation Capital and Matrix Partners India, with participation from investors such as Whiteboard Capital and Blume Founders Fund. This round also featured tech founders including Kunal Shah (CRED), Ramakant Sharma (LivSpace), Asish Mohapatra and Ruchi Kalra (Ofbusiness), Vidit Aatrey and Sanjeev Barnwal (Meesho), Varun Dua (Acko), Nitin Gupta (Uni), Anurag Sinha (OneCard), Shashvat Nakrani and Suhail Sameer (BharatPe), Revant Bhate (Mosaic) along with marquee family offices including Taparia (FamyCare), RK Kedia (Manjushree), CJ Shah and Neeraj Goenka (Texport) and industry professionals like Akash Saxena (Hotstar), K Rangarajan (Five Star) and Aashish Sommaiyaa (WhiteOak).
The startup plans to use the funding to continue to build a strong team, launch and scale its invest-tech product platform and re-define investment experience for working professionals in India, it said in a statement. "dezerv. will leverage the digital adoption and scalable investment infrastructure of post-pandemic India, coupled with decades of our experience to bring world-class investing to Indian professionals. We are excited to launch our unique Integrated Portfolio Approach that looks beyond selecting individual mutual funds, and delivers high performing portfolios while controlling risk,” said founders -- Sandeep, Sahil, and Vaibhav. Established in April 2021, dezerv. aims to offer a fresh approach and platform to help underserved Indian professionals access investment expertise.
EV infra startup Revos gets $4 million in funding: Report
Electric vehicle infrastructure startup Revos has received $4 million in Series A round led by Union Square Ventures and Prime Venture Partners. Revos has raised about $4.5 million so far, including the latest round. The company will use the capital to deploy EV chargers across the country and strengthen its technology team, its founders told ET. It plans to expand its network to one million chargers in the next three years.
Learning startup Habbit raises $320K in pre-seed round
Interactive online learning platform Habbit has raised $320K in its pre-seed round led by Ashok Goyal, a former member of Supervisory Board of Sanjeev Goenka Group. A clutch of angels such as Rajinder Mohan, Gaurav Vij, Geeta Ahluwalia and Kunal Ojha have also participated. According to the startup, the funds will be used to grow its community of users, onboarding new mentors and in product development.
Habbit connects mentors and learners through its live mentorship, engaging learning experiences and community building. It offers 42 skills under seven categories that include art, music, design, games, fitness, dance, and gardening. The startup claims to have engaged with over 5,000 learners and conducted over 400 learning sessions.
(Edited by : Jomy Jos Pullokaran)