Weekly wrap: An overview of deals closed in the startup universe this week

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E-commerce giant Flipkart has raised $3.6 billion in a new round. The current investment has taken the group’s valuation to $37.6 billion post-money. Meanwhile, OYO has raised a TLB funding of $660 million from global institutional investors

Weekly wrap: An overview of deals closed in the startup universe this week
Flipkart raises $3.6  billion, valuation hits $37.6  billion
E-commerce giant Flipkart has raised $3.6 billion in a new round led by Canada Pension Plan Investment Board, Singapore government’s sovereign wealth fund GIC, SoftBank Vision Fund 2 and Walmart.
The funding round also saw participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad, and marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
The current investment has taken Flipkart Group’s valuation to $37.6 billion post-money.
Oyo raises $660 million through its maiden TLB funding
OYO has raised a TLB funding of $660 million from global institutional investors. The offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors.
OYO closed the $600 million capital raise on May 20th at an Initial Price Guidance of L+ 850 basis points and closed it at a lowered price by 25 basis points.
The company will utilise these funds to retire its past debts, strengthen the balance sheet and other business purposes including investment in product technology.
FedEx to invest $100 M investment in Delhivery
FedEx will make a $100-million equity investment in logistics startup Delhivery as part of a long-term commercial agreement.
SoftBank-backed Delhivery will sell FedEx Express’ international products and services in India, as part of the deal, and also provide pick-up and delivery services across the country. FedEx will also transfer some of its assets from its India business to Delhivery, enabling broader access to the Gurgaon-based startup’s pan-India network.
Don Colleran, chief executive officer of FedEx Express, shall also get a board seat at Delhivery, the company said.
Pratilipi raises $48 M funding from Krafton
Online storytelling platform Pratilipi has raised $48 million in a series D funding led by South Korean gaming giant Krafton.
Existing investor, Omidyar Network India also participated in the round along with a number of startup founders including Hemesh Singh and Gaurav Munjal (Unacademy), Nishith Rastogi (Locus), Sahil Barua (Delhivery), Vidit Aatrey (Meesho), Mekin Maheshwari (Udhyam) and Amit Agarwal (NoBroker).
Pratilipi co-founder and CEO Ranjeet Pratap Singh also invested in this round that has taken the total amount raised till date to $78.8 million. The company's valuation has now grown to about $265 million.
Trell raises $45 M in Series B round of funding
Lifestyle social commerce platform, Trell has raised $45 million in a Series B round of funding led by financial group Mirae Asset, H&M Group and co-led by LB Investments.
Previous investors, along with KTB Network, Samsung Ventures, and Fosun RZ Capital have also participated in this round. With this Trell’s total funding raised has reached $62 million to date.
Trell is planning to utilize the freshly infused capital to further develop its AI and ML technologies across regional languages as well as strengthen the team.
Fintech startup Credit Fair raises $15 million
Credit Fair, a consumer-lending fintech startup, has raised $15 million in a seed funding round led by angel investors Anand Ladsariya and Alok Agarwal of Striver Capital Advisors.
The fintech startup will use the capital—a mix of equity and debt—to build its technology team, enhance underwriting models, and expand into Tier II and III cities to scale its assets under management (AUM).
The company will also use the funding to scale by expand merchant partnerships by 5X in 1 year and 15X in 2 years and growing disbursement to $10 million run rate per month in two years, it said in a statement.
Protonn raises $9 million in seed funding
Digital solutions provider for freelancers, Protonn, raises $9 million in a seed round from Matrix Partners India, 021 Capital and Tanglin Venture Partners.
Prominent angel investors including Flipkart co-founder Binny Bansal, Flipkart CEO Kalyan Krishnamurthy and Cred founder Kunal Shah also participated in the round.
The startup will use the fresh capital to hire new employees, launch its product in the market, and continue product development.
Ennoventure raises $5 million in Series A
SaaS company Ennoventure has raised $5 million as part of its Series A funding from US-based Fenice Investment Group.
Ennoventure said it will utilise the fresh capital for scaling up the team and to expand to Europe and the US. As part of its growth strategy, the company also plans to focus on India as it is a key market for the export of generic drugs.
OneCode raises $5 M led by Sequoia Capital's Surge, Nexus Venture Partners
OneCode, a digital platform for sale agents has raised $5 million in a fresh round of funding led by Sequoia Capital India accelerator programme, Surge and Nexus Venture Partners. The round also saw participation from WaterBridge Ventures.
Several angel investors including Haptik co-founder Aakrit Vaish; Pine Labs chief executive, Amrish Rau (Pine Labs; former Facebook product head, Unacademy co-founder, Gaurav Munjal; Razorpay co-founder, Harshil Mathur and Udaan founder Sujeeth Kumar, almos participated as a part of the round.
The startup’s mission is to digitise 50 million sales agents across India, and bridge the gap between brands and potential buyers who may need in-person interactions and physical touch points before committing to a purchase.
Edtech startup Oliveboard raises Rs 23 Crore
Oliveboard, an edtech platform focused on competitive exams, has raised pre-Series A funding of ₹23 crore led by Indian Angel Network Fund with participation from Education Catalyst Fund (ECF) and Yukti Securities.
The startup will use funds to expand its number of national-level courses and exams, and to add state-level categories. It will further focus on investing in technology for interactive data-driven products.
Aqgromalin raises Rs 5.5 crore seed funding
Agri-tech startup Aqgromalin has raised Rs 5.5 crore in seed funding led by Zephyr Peacock India Growth Fund. Indigram Labs Foundation, and other noted angels from the agri startup ecosystem also participated in the round.
As part of the deal, Zephyr Peacock will gradually scale up its exposure as the company grows. Aqgromalin said it plans to use the funds raised for team expansion, technology development, category addition and geographical expansion.

Market Movers

CompanyPriceChng%Chng
Dr Reddys Labs4,843.35 -567.90 -10.49
Cipla913.10 -37.45 -3.94
Axis Bank731.70 -24.60 -3.25
Adani Ports663.20 -19.60 -2.87
Divis Labs4,791.40 -129.75 -2.64
CompanyPriceChng%Chng
Dr Reddys Labs4,844.35 -564.80 -10.44
Axis Bank731.75 -24.40 -3.23
Kotak Mahindra1,697.95 -42.45 -2.44
Sun Pharma688.00 -15.55 -2.21
HDFC2,434.75 -29.40 -1.19
CompanyPriceChng%Chng
Dr Reddys Labs4,843.35 -567.90 -10.49
Cipla913.10 -37.45 -3.94
Axis Bank731.70 -24.60 -3.25
Adani Ports663.20 -19.60 -2.87
Divis Labs4,791.40 -129.75 -2.64
CompanyPriceChng%Chng
Dr Reddys Labs4,844.35 -564.80 -10.44
Axis Bank731.75 -24.40 -3.23
Kotak Mahindra1,697.95 -42.45 -2.44
Sun Pharma688.00 -15.55 -2.21
HDFC2,434.75 -29.40 -1.19

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.46000.04250.06
Euro-Rupee88.14600.44400.51
Pound-Rupee103.38800.70900.69
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