Here’s a lowdown of the top deals from the startup space this week.
Quona Capital closes $332M fund to invest in emerging markets
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Venture capital firm Quona Capital has closed its third fund at $332 million, which it will invest in emerging markets including India.
This is the third fund from Quona Capital since its inception, bringing the firm's aggregate committed capital to over $745 million.
“With 35 percent of the global population and over 150 million small businesses, the Asia region hosts a very large proportion of the world's marginalised consumers and small businesses. The rapid digitisation of these markets -- combined with the innovative solutions developed by the companies Quona is investing in -- are bringing these consumers and small businesses into mainstream economic and financial systems," said Ganesh Rengaswamy, who leads Quona's investments in India and Southeast Asia.
Amagi raises over $100M from General Atlantic
Media-focused SaaS unicorn Amagi has raised over $100 million, including $80 million in primary capital, from global growth equity firm General Atlantic.
The investment brings the company’s valuation to $1.4 billion, an increase from the $1 billion valuation the company reached in March this year with a $95 million investment from Accel, Norwest Venture Partners, and Avataar Ventures.
With this latest funding, the startup intends to strengthen support infrastructure for customers and invest in AI-driven personalization, advertising, and live-streaming solutions, particularly in the FAST ecosystem.
Keka raises $57M in Series A round from WestBridge
Keka, a Hyderabad-based HR tech platform for small and medium-sized enterprises, has secured $57 million in Series A from WestBridge Capital.
As per the company, this is India's largest Series A SaaS funding. “I believe we raised funding at the right time. We have been the fastest-growing HR tech leader in our space. Although we got several offers for funding in the past, we never felt the timing was right,” said CEO Vijay Yalamanchili.
"As we advance, R&D will be our primary area of focus as we expand our engineering, product, and customer success teams,” the CEO added.
Even Healthcare bags $15M from Alpha Wave & Lightrock
Even Healthcare, a subscription-based personalised healthcare startup, has raised $15 million from new investors including Alpha Wave and Lightrock.
In a statement, the firm said it will use the new capital to strengthen its clinical team of doctors to scale its preventive care for comorbidities like diabetes, PCOS, obesity, among others.
Even said it builds primary care programmes as per global protocols to improve clinical outcomes. The company also claims to reduce OPD (out-patient department) costs.
Supertails raises $10M in Series A round from Fireside and others
Petcare startup Supertails has raised $10 million in Series A funding round led by Fireside Ventures, along with existing investors Saama Capital and DSG Consumer Partners.
The round also participation from angel investors such as Kunal Shah, Varun Alagh, Sanjay Kapoor, Ankit Nagori, and Shashank Mehta.
As per the startup, the fresh capital will be used to build innovative tech products including Supertails’ mobile application, expansion of verticals such as Vet Diets and Pet Pharmacy channels, strengthen the supply chain and enhance the post-sales experience.
doola gets $8M from Nexus Venture Partners and Y Combinator Continuity Fund
Doola, a firm that aids global founders to start companies in the US, has raised $8 million in funding by Nexus Venture Partners with participation from the Y Combinator Continuity Fund and more.
This new fundraise comes right after a profitable year and the launch of doola Banking — an accessible way for LLCs around the globe to bank and build credit in the US, a statement said.
“By providing adjacent financial tools designed to help emerging companies grow more efficiently, doola is the fuel these businesses need. Growing doola's team will allow us to launch new products and iterate on existing products. We let data, customer feedback, and demand drive our product innovation,” said Arjun Mahadevan, CEO, doola.
pi Ventures raises $ 8M from British International Investment
Early-stage venture fund pi Ventures has raised $8 million from British International Investment (BII), the UK’s development finance institution and impact investor.
With the BII investment, the fund is currently tracking confirmed investments of over Rs 530 crore and plans to do its final close in the first quarter of CY 2023 in the range of Rs 565 crore to Rs 750 crore, the firm said in a statement.
The fund will invest in startups focused on AI and other forms of deeptech across sectors including, but not limited to Blockchain, Spacetech, Biotech, and Material Science among others. pi Ventures said it will continue to focus on early-stage investments through this fund.
Chiratae Ventures leads $1.7M seed round in Skye Air Mobility
Drone-based startup Skye Air Mobility raised $1.7 million in its seed funding round led by Chiratae Ventures. The round also saw participation from investors like Lead Angels, O2 Angels, Agility Ventures and LetsVenture.
Several marquee names including Rajeev Chitrabhanu, Ankit Nagori, Varun Alagh, Gautam Badalia, Ayush Lohia and others, also participated.
With this investment, Skye Air said it will be aiming for faster deliveries, reducing carbon emission, reducing cost, and increasing accessibility.
Sanfe bags $1.5M in Series A2 funding from Seeders, LetsVenture and others
Sanfe, a women's grooming brand, has raised $1.5 million in a Series A2 round of funding led by existing investors S Chand Family office, Seeders and LetsVenture.
The round also saw participation from angel investors, including Abhay Tandon, Yash Kotak. Last year, Sanfe raised $1 million in a Series A funding round which takes the total funding to $2.5 million.
The startup intends to use the additional funding raised to enter the offline market and control the femcare market. Sanfe claims that its online business has grown by 100% in the current quarter, and the brand has achieved over 240% growth annually.
Zerodha’s investment arm Rainmatter backs home appliances startup Up
Zerodha Co-founder and CEO Nithin Kamath-led fintech fund and incubator Rainmatter has invested $500,000 in home appliances startup Up.
The round also saw participation from co-founders of Ather Energy, Unacademy, Stanford Angels & Entrepreneurs India, and early Tesla investor Tim Draper.
As per the company, the fresh capital will be used to enhance its flagship product- delishUp- which performs chopping, stirring and other culinary functions. The startup claims that its appliance has been tested in more than 250 Indian kitchens during its pilot project.
CureBay secures Rs 50 Cr in Series A round from Elevar
Rural-India focused health-tech startup CureBay has raised Rs 50 crore in a Series A funding round led by Elevar Equity.
The firm plans to launch 100 eClinics in the next 12 months and said that the capital will be invested into acquiring skilled talent, expanding to new locations, and further strengthening the tech platform and care delivery model.
Currently, CureBay has 15 eClinics across multiple remote districts and villages of Odisha and claims to have helped over 10,000 patients.