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    FUNDING RUNDOWN: BetterPlace raises $24M, Amagi secures $100M, Purplle eyes $500M valuation, says report

    FUNDING RUNDOWN: BetterPlace raises $24M, Amagi secures $100M, Purplle eyes $500M valuation, says report

    FUNDING RUNDOWN: BetterPlace raises $24M, Amagi secures $100M, Purplle eyes $500M valuation, says report
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    By Aishwarya Anand   IST (Published)

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    Here’s a lowdown of top deals locked in the startup universe.

    Here’s a lowdown of top deals locked in the startup universe.
    BetterPlace raises $24M in Series C round
    BetterPlace, a technology platform for blue-collar workforce management, has raised $24 million in Series-C funding led by CX Partners and Singapore-based Jungle Ventures.
    This comes after the firm had raised a Series-B round of $10 million in late 2020. CDC Group and Capria Ventures also participated in this round alongside existing investors Unitus Ventures and 3one4 Capital.
    The company will use the fresh funds to continue to invest in technologies and products to support its exponential growth as well as aggressively pursue inorganic growth opportunities, it said in a statement.
    “We will continue to build teams, tech, and expand geographically, and it only gets more and more exciting and fulfilling for us to be able to support the drive towards prosperity and inclusion for the blue-collar workforce,” said Pravin Agarwala, co-founder and CEO, BetterPlace.
    BetterPlace claims to be providing full-stack workforce management solutions to 1,000 plus enterprises, offering flexibility to hire and manage employees virtually with over 200,000 onboardings monthly and over 1.5 million engaged employees.
    With the current round, BetterPlace will continue investing in tech to cater to the growing demand while acquiring niche solutions and leveraging its leadership position for faster adoption of new modules.
    The firm aims to reach $100 million in revenue and impact the lives of more than 10 million people every day by December 2022.
    Purplle eyes $500M valuation amid Nykaa IPO: Report
    Beauty products platform Purplle is in talks to raise $50-75 million, valuing the company at over $500 million, according to Moneycontrol.
    Investors including Norwest Venture Partners, Kedaara Capital, Venturi Partners and South Korea’s Mirae are jostling to invest in Purplle, while Sequoia India will double down on its stake, people aware of the development said requesting anonymity. Purplle is still deciding the allocations for investors, the report added.
    Purplle, pitched earlier to investors and executives as a ‘Nykaa for tier 2-3 cities and beyond,’ was valued at about $300 million in March when it raised $45 million from Sequoia, Verlinvest and others.
    Nykaa is gearing up for a record-breaking public share sale that could value the company at as much as $8 billion.
    Amagi secures $100M from Accel, Premji Invest and others
    Media-focussed SaaS, or software-as-a-service, company Amagi has raised $100 million in investment from Accel, Avataar Ventures, Norwest Venture Partners, and existing investor Premji Invest.
    As part of the investment, the venture funds have bought out stake held by KKR’s Emerald Media and Mayfield Fund. Nadathur Holdings continues to remain invested in Amagi.
    Amagi works with broadcast and connected TV media clients such as A+E Networks UK, beIN Sports, CuriosityStream, Discovery Networks, Fox Networks, Fremantle, Tastemade, Tegna, Vice Media, and Warner Media and offers solutions for content creation, distribution, and monetisation.
    The company will use the funds to expand its global footprint.
    Jungle Ventures raises $225M to invest in India, South Asia startups: Report
    Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India, Bloomberg News reported.
    Many of its existing investors including Temasek, International Finance Corp. and German development finance institution DEG, participated in the round. The new fund has a planned size of $350 million.
    Since launching its first early-stage fund in 2012, Jungle Ventures has become one of the fastest-growing local VC firms in the city-state with assets under management of about $600 million, the report added.
    Titan Capital leads $340K pre-Seed round in WickedGud
    WickedGud, a D2C food brand has raised $340,000 in a pre-seed round led by Titan Capital.
    The round also saw participation angels and marquee investors, including Archana Priyadarshini (Partner at Point One Capital), Gaurav Ahuja (MD at Chrys Capital), Amit Chaudhary (Founder, Lenskart), Aman Gupta and Sameer Mehta (Co-founders, boAt), Harsh Vakharia (Founder, Invideo), and Jorge Fernandez Vidal (Investment Director at Liechtenstein Group).
    According to the startup, the proceeds will be used for building the brand across D2C channels and strengthening its team to support initial growth.
    The brand sells non-maida, healthy products (pasta and noodles). It claims that its products are made with grains and pulses like chickpeas, lentils and rice.
    FUDR raises $140K from US-based accelerator Expert Dojo
    F&B-focused SaaS platform FUDR has raised $140,000 from US-based accelerator Expert Dojo and angel investor Aditya Sanghi, who will be joining the board. The company has also been selected in the summer cohort 2021 run by Expert Dojo.
    The company currently works with over 500 F&B outlets across 50 cities to help them generate an annualised GMV of $3 million. It is growing at 25 percent MoM, adding 300 new F&B brands monthly, the company said in a statement.
    The SaaS platform helps small, medium cafes and casual dining restaurants reach and retain customers through omnichannel engagement and pass benefits of the D2C model. The platform is a no-code model where F&B brands can manage digital menus, ordering, payments and re-targeting programmes as they have access to guest data, which they otherwise don't get from large food-tech partners.
    The company will be part of the 3-month accelerator programme that will help it to unlock a global ecosystem of channel partners, investors and prospective customers. This will also give the company a chance to learn and implement global best practices on cash flow management, product, growth and fundraising, it said.
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