Rebel Foods joins unicorn club after $175 million fundraise; aims for an IPO in 18-24 months
Cloud kitchen startup Rebel Foods has raised $175 million in a Series F round led by sovereign fund Qatar Investment Authority, with participation from existing investors Coatue and Evolvence. This round has turned the company into a unicorn, with a valuation of $1.4 billion.
The company will use the new funds to expand globally, build its technology and add more food brands to its existing 45. It currently operates over 450 kitchens in 10 countries, including Indonesia, the United Arab Emirates and the United Kingdom. Rebel Foods said it is setting a course for an initial public offering in the next 18-24 months.
Twin Health raises $140 million in Series C funding from Sequoia India
Twin Health, a US and India-based healthtech startup has raised $140 million in Series C funding led by Sequoia Capital India, ICONIQ Capital, Perceptive Advisors, Corner Ventures, LTS Investments, Helena and Sofina. Founded in 2018, Twin Health combines IoT sensors, machine learning, and medical science to improve metabolic health. India has over 70 million people suffering from Type 2 Diabetes, the second-highest in the world.
By 2045, this is expected to grow to 134 million people, the company said in a statement. Twin Health is trying to solve this complexity through its precision health technology - Whole Body Digital Twin. Twin Health will use the fresh influx of funding to scale its invention to reverse and prevent chronic metabolic diseases, including type 2 diabetes.
LetsVenture’s new business entity trica secures $3 million seed round
Investment marketplace LetsVenture has announced the launch of its new business entity trica — a software products platform for equity management and transactions — which raised $3 million in a seed round. It raised funding from Accel, LC Nueva AIF, and Secocha Ventures. LC Nueva AIF is an alternative investment fund, which is awaiting Sebi approval.
Other angel investors, including Anupam Mittal (Shaadi.com), Kunal Shah (CRED), Ashneer Grover (BharatPe), and family offices of Apurva Parekh of Pidilite, Rahul Talwar of the DLF Group, and others, participated in the round. trica will use the funds to build the technology infrastructure stack, scale the product, and grow the team.
India Accelerator, other investors buy 10% stake in mHealth
India Accelerator and a clutch of high net-worth individuals have bought a 10 percent stake in mHealth in seed round funding. Community-based employee wellness platform mHealth has recently secured an undisclosed amount in the seed funding round led by India Accelerator.
The investment round also witnessed participation from HNIs and angel investors Govind Rao, Vikram Gupta, Alok Mani and others. Without disclosing the actual amount, mHealth co-founder and CEO Rajesh Munjal said that the investors have acquired a 10 percent stake in the company in the seed round. Founded in 2020, the startup helps corporates in personalising their employee wellness programmes on a single platform.
Nazara raises Rs 315 crore from marquee investors
Gaming and sports media platform Nazara Technologies said that its board has approved a preferential allotment of fresh equity to raise Rs 315.3 Crores from marquee institutional investors that include Singapore sovereign wealth fund GIC-managed investment firm Gamnat and Plutus Wealth Management. The company plans to use the funds to invest in its growth initiatives and pursue acquisitions across various business verticals, including gamified learning, freemium, skill-based real money gaming and esports.
"The company will issue 1,429,266 equity shares of the face value of Rs 4 each at a price of Rs 2,206 per equity share (including a premium of Rs 2,202 per equity share," Nazara Technologies said in a regulatory filing to the stock exchanges. Nazara Technologies issued 1.42 million shares to Gamnat and Plutus Wealth Management at Rs 2,206 per share, which is a discount of 16 percent to the company's share price as of Wednesday. In the recent past, Nazara Technologies acquired the Hyderabad-based skill gaming company OpenPlay for Rs 186.4 crore.
(Edited by : Jomy Jos Pullokaran)
First Published: IST