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    Funding Rundown: Coralogix raises $142M, Goldman Sachs Asset Management lead $77M round in MoEngage & Cuemath raises $57M

    Funding Rundown: Coralogix raises $142M, Goldman Sachs Asset Management lead $77M round in MoEngage & Cuemath raises $57M

    Funding Rundown: Coralogix raises $142M, Goldman Sachs Asset Management lead $77M round in MoEngage & Cuemath raises $57M
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    By Aishwarya Anand   IST (Published)

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    Funding Rundown brings you news of all the best deals struck in the startup space.

    Here’s a lowdown of the top deals from the startup space.
    Coralogix raises $142M in Series D round led by Advent
    Coralogix, a company using streaming analytics to rebuild the path to observability has bagged $142 million in Series D funding round led by new investors Advent International.
    The round was co-led the round by Brighton Park Capital with participation from Revaia and existing investors Greenfield Partners, Red Dot Capital Partners, Eyal Ofer’s O.G. Tech, StageOne Ventures, Joule Capital Partners, and Maor Investments.
    Alek Ferro of Advent and Mike Gregoire, Partner at Brighton Park Capital and former CEO at CA Technologies, have joined the Coralogix board of directors.
    The startup will use the fresh funds for expansion plans, especially its India and APAC. Additionally, the funds will also be used to accelerate the build-out and go-to-market of Snowbit, its recently announced cybersecurity venture being constructed out of India and Israel, a statement said.
    Goldman Sachs Asset Management lead $77M round in MoEngage
    MoEngage, the insights-led customer engagement platform, has raised $77 million in Series E funding led by Goldman Sachs Asset Management and B Capital. This is Goldman Sachs Asset Management’s first investment in an Indian SaaS company.
    Existing investors Steadview Capital, Multiples Alternate Asset Management, Eight Roads Ventures, and Matrix Partners India, also pitched in. This is the third round of funding raised by the company in the last 12 months, with $32.5 million raised in July and $30 million in December 2021.
    The firm will use the fresh capital to deepen its footprint in the US, Europe, Asia, and Middle-East markets and also expand in new markets like Latin America and Australia. The funds will also be used to explore strategic acquisitions that can help extend its platform capabilities and provide more value to customers.
    Cuemath raises $57M, valuation doubled to $407M
    Math tutoring startup Cuemath has raised $57 million in a fresh round of funding led by Alpha Wave. With this round, the company valuation has surged to over 2x at $407 million.
    Existing investors including Lightrock India, Sequoia Capital India; Alphabet independent growth fund CapitalG; Manta Ray; and Unitus, also participated in the fundraise.
    The funds raised will be used to fuel strengthening product-pedagogy outcomes, hypergrowth initiatives, acquisition and partnerships, and catalyse its efforts to build a strong global math brand, the company said.
    Cuemath also aims to expand to over 100 countries by FY’23. This plan includes bolstering its presence in North America, APAC, the UK, Europe, Middle East and capturing markets in Africa and South America.
    Tiger Global and others invest $50M in Slice’s ongoing Series C round
    Card-based lending and payment solutions provider Slice has raised $50 million as part of a larger Series C round led by existing investor Tiger Global.
    The round also saw participation from its existing investors Moore Strategic Ventures and Insight Partners, and new investor Japan's GMO Venture Partners.
    The firm said its core credit product is set to achieve profitability in the coming months and Slice will be utilising this new capital for shoring up the balance sheet to support the expansion of its new UPI product.
    “With the significant growth in wallet share of slice card, it became increasingly clear that our customers would love to use slice for all their payment needs. Driving on that, we made our next important product launch with UPI which has been gaining strong early traction,” said Rajan Bajaj, Founder and CEO, Slice.
    Indian companies, unicorns and startups such as Zomato, Dreamsports, Freecharge, Razorpay, Meesho and many more are relying on Slack to drive their businesses forward.
    Orange Health gets $50M from Bertelsmann & General Catalyst
    Orange Health, a healthtech startup has raised $25 million in Series B funding round, led by Bertelsmann India Investments and co-led by General Catalyst.
    The round witnessed participation of existing investors like Accel, Y Combinator, Good Capital and Uncorrelated Ventures.
    The funds raised will be deployed towards deeper investment in product development as well as technology across systems, user experience and building world-class laboratories, the firm said in a statement.
    The company also plans to expand to new markets and strengthen its teams across all functions.
    GoSats raises $4M in Pre-Series A funding round
    GoSats, a crypto on-ramp platform has secured $4 million from multiple private investors in their Pre-Series A funding round. As per the company, the funding round was conducted with an aim to scale up and enhance GoSats operations to a higher level.
    The fresh capital will be used for acquiring resources that enables GoSats to magnify their exclusive bitcoin rewards program, build crypto rewards as an API Service for brands to seamlessly offer crypto assets as loyalty points and develop a strong and talented workforce with effective hiring.
    “We’ll now be using our funding to scale our rewards card program, build an infrastructure for users to seamlessly earn free bitcoin everywhere they shop, enable users to stake their bitcoin and earn attractive yield, have them spend their rewards on brands, NFTs and play to earn games all within the GoSats app,” said Mohammed Roshan, CEO and Co-founder, GoSats.
    Dvara E-Dairy secures $2M in Pre-Series A round from Axilor
    Dvara E-Dairy Solutions, an agri-fintech company has raised $2 million in a Pre-Series A round of funding from Axilor and Dvara Venture Studio.
    The investment will further accelerate Dvara E-Dairy's growth plans into newer geographies, enabling it to scale up its operations and investment in technology for better optimization, a statement said.
    “We are delighted to partner with Axilor and its team to help take Dvara E-Dairy to the next level using its proprietary bovine AI-based facial recognition tools and the digital finance platform to help 90 million-plus smallholder cattle farmers in India,” said Samir Shah, Executive Vice-Chair & Co-founder, Dvara Holdings.
    EV startup Revamp Moto raises over $1M in Pre-Seed round
    Revamp Moto, an electric two-wheeler manufacturer, has raised over $1 million in pre-seed funding round led by Veda VC and Venture Catalysts.
    IDBI Capital and angel investors like Deven Bhandari and Sharks — Aman Gupta, Anupam Mittal, Ashneer Grover, and Peeyush Bansal, also participated in the funding round.
    The company plans to use the fresh funds raised in the round to hire top talent, product development and match the rising demand for mobility vehicles.
    Revidd.com bags $1.1M from Inovnis SA and CIIE.CO
    No-code video tech platform Revidd.com has raised $1.1 million in a seed funding round from Inovnis SA and CIIE.CO.
    The company intends to use the fresh capital to expand its offerings to the USA and strengthen its presence in the North American market, hire ingenious talent and build on the product and technology.
    It also aims to lower 60 percent of its cost savings with its own decentralised storage and streaming network.
    IPV invests Rs 5 Cr in edtech platform Homi Lab
    Co-curricular futuristic learning platform Homi Lab has raised Rs 5 crore in a Pre-Series A round by Inflection Point Ventures.
    The funds raised will be utilized for development of the cutting-edge technology platform and high-quality unique content creation, the firm said in a statement.
    “Homi Lab is on a continued journey to build a brighter future for humankind by transforming the learning space with our model of training. IPV not only provides us the necessary fuel in our journey in terms of capital, but also in terms of ideas, partnerships and people,” said Srijan Pal Singh, Founder, Homi Lab.
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