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Funding Rundown: Zepto's valuation jumps to $570 mn in 5 months, Jumbotail raises $85 mn & Captain Fresh gets $40 mn from Tiger

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Funding Rundown: Zepto's valuation jumps to $570 mn in 5 months, Jumbotail raises $85 mn & Captain Fresh gets $40 mn from Tiger


Here's a lowdown of the top deals from the startup space.

Funding Rundown: Zepto's valuation jumps to $570 mn in 5 months, Jumbotail raises $85 mn & Captain Fresh gets $40 mn from Tiger
10-minute grocery delivery startup Zepto bags $100 million in Series C round, valuation jumps to $570 million in 5 months
Within just five months of inception, quick grocery delivery app Zepto has raised $100 million in a Series C round led by Y Combinator's Continuity Fund at a valuation of $570 million. The round also saw participation from new and existing investors, including Glade Brook, Nexus, Breyer Capital, Lachy Groom, Global Founders Capital and Contrary Capital.
The startup's newest funding comes 45 days after it had bagged a $60 million at $225 million valuation. Zepto, founded by 19-year-olds, Aadit Palicha and Kaivalya Vohra, has raised $160 million till date. The company plans to expand coverage across multiple cities in India and scale its team rapidly and is currently hiring across all functions, including operations, supply chain, marketing, finance, product, engineering, and human resources, it said in a statement.
Jumbotail raises $85 million in Series C funding round led by Invus
Retail and B2B e-commerce marketplace for food and grocery products Jumbotail has raised $85 million in a Series C round from Artal Asia Pte Ltd, an affiliate of Invus. Ajax Capital, the family office of FMCG entrepreneur Ajay Gupta, also participated.
This Series C round was a combination of primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital taking minor part-exits in the secondary. This takes the total capital raised by the company to $125 million.
The startup will use the funds to triple its engineering, product, design, data science, category management, marketing, and finance teams. It will also scale its core B2B marketplace to 100 cities and towns across India, it said in a statement.
Jumbotail aims to expand its network of J24 stores and invest in large scale kirana entrepreneur skill development initiatives. It would also further strengthen its go-to-market services to support regional and new age FMCG brands.
Captain Fresh gets $40 million in Series B funding round from Tiger, Prosus Ventures
B2B seafood marketplace Captain Fresh has raised $40 million Series B investment led by Tiger Global and Prosus Ventures (formerly Naspers Ventures). Existing investors Accel India, Matrix Partners India, Ankur Capital, and Incubate Fund also participated in the round.
The funding will be used to build tech interventions and deeper tech integrations across the supply and demand side network such as a real-time trading marketplace, pricing and quality standardisation using AI, and the application of robotic automation to move massive volumes with precision, the firm said in a statement.
Captain Fresh will also utilise the funds towards hiring and expanding its team, it added. The startup claims it has clocked a 6x growth in the last 12 months and is transforming retail across B2R, B2B, and B2B2C segments.
Feminine hygiene startup Sirona raises Rs 100 crore from Good Glamm Group
Feminine hygiene startup Sirona has raised Rs 100 crore in Series-B funding from Good Glamm Group. The round also saw secondary buyout with early investors including seed and angel investors taking an exit, a statement said. Sirona, which makes products like PeeBuddy and menstrual cups, said it aims to hit the Rs 500 crore revenue mark in three years.
Despite a huge taboo, the company claims to have successfully changed many old habits by offering products in this category – nearly 1 million women use Sirona Menstrual Cups, over 3 million units of PeeBuddy and over 400,000 Sirona Feminine Pain Relief Patches have been sold.
"We have been profitable for the last 3 years and are growing steadily. We believe that the partnership with The Good Glamm group, given their edge in terms of content and offline access will help us scale faster while staying profitable," said Deep Bajaj, founder & CEO of Sirona Hygiene. The company said it will soon hit the Rs 100 crore revenue mark.
TenderCuts raises Rs 30 crore from Stride Ventures
Fresh meat and seafood ordering platform TenderCuts has raised Rs 30 crore in a funding round led by venture debt firm Stride Ventures. This is the 43rd investment in the firm’s portfolio across both funds, as it continues to play a strategic role in the growth stories of new age companies. This investment is aimed at supporting TenderCuts in its growth and expansion plans across 8 cities by early 2022, the firm said in a statement.
"Our learnings in the South will help us expand swiftly across other cities in India. We already are at 50 stores and will be expanding to 8 cities in 2022,” said Nishanth Chandran, founder and CEO, TenderCuts. Through its omni-channel distribution strategy, TenderCuts currently serves its customers across Chennai, Hyderabad and Bangalore through its 50 ommi-channel stores.
TagHive bags $2.5 million Series A funding from Forest Partners
Edtech startup TagHive has raised $2.5 million in Series A funding led by Forest Partners, an alternative investment firm based in South Korea. The firm said it plans to use the funds to ramp up technology upgrades and expand local teams in India to meet growing demand for its smart learning platform.
According to TagHive Founder and CEO Pankaj Agarwal, the startup plans to expand into at least 5,000 schools in India by 2022. TagHive's Class Saathi has made significant inroads into Uttar Pradesh and Madhya Pradesh government schools and expects to rapidly expand to new states, the firm added.
Fintech startup Tyke gets $1.5 million in Pre-Seed round
Fintech start-up Tyke has secured $1.5 million in its pre-Seed round of funding from 9Unicorns, Better Capital, Ratio Ventures, and Venture Catalysts. The round also involved the participation of angels like Jitendra Gupta, Sweta and Amrish Rau, Varun Mittal, Sandeep Aggarwal, Navin Surya, and Ajay Rajan.
The proceeds from the round will be used to build products for companies to digitise and democratise their fundraise, the firm said. It also aims to disrupt the way angel investment networks; venture capital (VC) and individuals invest in businesses. Tyke is focused on automating PE investment deals. Its service enables founders to create a round, set terms and invite investors to participate.
Bluetooth speaker brand Deciwood raises $200K
Deciwood, the brand which makes Bluetooth speaker has closed funding of $200K led by Shuru up. The other participants in this funding round included, Ankit Kedia (Founder of Capital-A), Arun Gupta(Founder MoMagic) and Let’sVenture and India Accelerator. Deciwood said it will use the new funding to invest in R&D, acquire new customers and expand its service and dealer network.
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