Here’s a lowdown of the top deals from the startup space.
Awign raises $15M in Series B round led by Bertelsmann India and others
Awign, an on-demand work fulfillment platform, has mopped up USD 15 million in a Series B funding round co-led by Bertelsmann India Investments and Amicus Capital Partners, along with Mynavi Corporation.
Existing investors Unitus Ventures, and the Michael & Susan Dell Foundation (MSDF), also invested. The advisory for the transaction was led by a private wealth management firm, Client Associates.
The firm plans to use the fresh capital to enhance technological capabilities, expand digital services into global markets, and bolster supply and demand acquisitions. While the enterprise-focused gig platform will continue to penetrate further into its domestic market, it will also leverage India’s large pool of gig workers to solve problems for organizations across the globe, it added.
“The new funding will further enable us to strengthen our tech capabilities, and expand our demand and supply pool in both domestic and international geographies. The new funds will help us enable a larger pool of gig partners to find employment opportunities and earn their livelihoods in a sustainable way,” said Gurpreet Singh, co-founder, Awign.
In the next five years, the firm aims to increase its gig partner network to add 500,000 annually active gig partners to achieve 300,000,000 tasks.
Privado bags $14M from Insight Partners and Sequoia India
Data privacy solutions provider Privado has bagged USD 14 million in its Series A funding round led by Insight Partners and Sequoia Capital India. Existing investors Together Fund and Emergent Ventures, also participated in the funding round.
The startup plans to utilise the funding to enhance and develop Privado’s technology stack, build out the team and grow its open-source community, it said in a statement.
“The new funding will allow us to further our mission of embedding privacy into software development,” said Vaibhav Antil, co-founder and CEO, Privado.
In addition to the code scanning solution, Privado has launched a free tool for Android developers to generate Play Store Data Safety reports. Privado is also extending this tool to a full-fledged open source privacy code scanning project.
Jackett raises $1M in seed round from Forge Ventures and others
Jackett, an edtech platform, has raised USD 1 million in a seed funding round led by Forge Ventures, Entrepreneur First, and Epic Angels Network.
The round also saw participation from angel investors including Siu Rui Quek, Co-founder of Carousell, and Projjal Ghatak, Co-founder of OnLoop.
The firm will use the fresh capital to build an operating system for personalised learning and make it available to more teachers and educational institutions across India and emerging markets, a statement said.
“This new funding will enable us to continue building the next generation of tools that empower teachers to do what they love and help unlock the potential of students around the world,” said Charlotte Trugdill, CEO and Co-founder of Jackett.
HealthAssure raises Rs 50 Cr in Pre-Series B round
Healthtech company HealthAssure which aggregates primary healthcare services and OPD insurance, has secured Rs 50 crore in a Pre-Series B funding round led by the Rajiv Dadlani Group.
The round also saw participation from Blume Ventures and Leo Capital, along with a US-based impact fund, reputed family offices and high net-worth individuals.
The firm said it will deploy the fresh capital into enhancing the product, strengthening distribution, sharpening the OPD insurance network, and investing in futuristic primary healthcare technology.
The company added it is targeting the USD 40 billion OPD and insurance market in India by ‘productising’ HMO ecosystem of primary care it has built over the 10 years across 1,200 cities.
Vidcare Technologies gets $300,000 in Pre-Seed round
Vidcare Technologies, a point-of-care and consumer diagnostic testing platform, has raised USD 300,000 in a Pre-Seed funding round led by Social Alpha. The round also saw participation from Lavni Ventures and Derbi Foundation.
As per the firm, the fresh capital will be used to further product development, clinical testing, real world effectiveness and early commercialization.
"This new round of funding will be used to complete product development and commercialisation post regulatory approvals, in addition to working on additional applications on this technology,” said Rohan Aggarwal, Founder, Vidcare.
“The first product of Vidcare Technologies focuses on hypothyroidism testing which is a major health ailment and is estimated to affect more than 150 million Indians”, Aggarwal added.
Freeskout raises Rs 4 Cr in seed funding round
Influencer marketing and discovery platform Freeskout has raised Rs 4 crore in a seed round funding from undisclosed investors.
With the fresh capital, the startup plans to speed up product development, expand into new markets, and streamline customer experience. It is also looking to provide a ROI tracker wherein brands will be empowered to track their sales generated via their influencers, a statement said.
The firm claims to have clocked a 10X growth rate YOY and plans to achieve an MRR of Rs 20 crores within the next 2 years.
Antler India leads Pre-Seed round in Cricinshots
Web3 cricket strategy game, Cricinshots, has raised an undisclosed capital in Pre-Seed funding round led by Antler India. The capital will be used to accelerate the product development and strengthen the team, a statement said.
“India loves cricket so it seemed like the most natural first step to building new-age games with Wega Labs. Also, both traditional and modern cricket games lack solid strategy elements and fail at long term engagement, and we are solving this with Cricinshots. The larger vision is to build games in multiple genres, which will come together to form an interoperable metaverse,” said Harsh Savergaonkar, Co-founder, Cricinshots and Wega Labs.
Wega Lab's first project is the mobile cricket game, Cricinshots. One of the key features of the game is its play-and-earn model, a mechanic that allows gamers to leverage their skills and time into rewards through winning matches, or owning stadiums and a variety of NFTs, as per company statement.
Ultraviolette raises undisclosed capital in Series D round
Electric bike startup Ultraviolette has received an undisclosed amount of capital in an ongoing Series D round of funding led by Exor Capital. With this investment, the fund now joins the cap table along with TVS Motor, Zoho Corporation, GoFrugal Technologies, and Speciale Invest.
Ultraviolette will roll out public test rides beginning September 2022 and will commercially launch F77 in India this year. The company has received over 65,000 pre-order interests of which India, USA, and Europe form a significant part.
While Ultraviolette is primed to launch the F77 in India, this investment will be utilized towards expansion of the company’s presence across India, ramping up sales of the F77 in the country and subsequent expansion in international markets including trials, certifications and sales, a statement said.