Swiggy valuation will hit $ 10 billion in new fundraising: sources
Food technology platform Swiggy is in talks with existing and new investors to raise nearly $ 1 billion, valued above $ 10 billion, sources said. CNBC-TV18. That’s almost double the $ 5.5 billion valuation the company only hit in July after raising funds from Softbank and other investors. This will bring Swiggy closer to the nearly $ 15 billion market cap of rival Zomato. Zomato saw its valuation almost double from the valuation of around $ 8 billion at the time of listing on July 23.
Swiggy had closed a $ 1.25 billion fundraiser in July this year led by SoftBank Vision Fund 2 and long-term investor Prosus, with participation from existing investors, Accel Partners and Wellington Management. Swiggy was valued at $ 5.5 billion at the time, sources say CNBC-TV18. Swiggy had also recruited new investors, Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac.
James Milner and Adam Lallana invest in UpGame
Upgame, a data intelligence and coaching platform for golfers, has raised an undisclosed amount from Liverpool midfielder James Milner and former teammate Adam Lallana through their company White Rose Sports Management.
The tour also saw Danny Conway, Andreesen Horowitz, Pawan Munjal of Hero MotoCorp and RN Sports Management.
“This funding will be used to further develop the product by adding more sports and related metrics and help us market the app to a wider audience. We look forward to applying our golf learnings to other sports. and to be at the forefront of knowledge and performance improvement in the burgeoning sports technology industry, ”said Sameer Sawhney, founder and CEO of Upgame.
The company said its app has increased monthly revenue 30-fold since January of this year and has managed to retain more than 85% of users as it grows geographically. The sports performance app currently specializes in golf and helps players analyze their game and better understand their strengths and weaknesses.
Akudo Raises $ 4.2 Million in Seed Funding from Y Combinator, JAFCO Asia, and Others
Akudo, a neobank focused on learning for adolescents, has raised $ 4.2 million in funding, led by Y Combinator, JAFCO Asia, Incubate Fund India and AET Fund.
The roundtable also saw the participation of Tribe Capital, Cabra Capital and renowned angels like Lalit Keshre (co-founder of Groww), Rohit Taneja (co-founder of Decentro) and others.
According to reports, the startup aims to use the funds to expand its team and further refine its product offering to reach millions of financially under-prepared and underserved teens in India.
88academics India raises $ 3 million in capital from Aarin Capital Partners
Edtech 88academics said on Monday it had raised approximately $ 3 million (roughly Rs 22.1 crore) equity financing, led by Aarin Capital Partners.
The pre-series round A also saw the participation of Piyush Gupta (CEO of DBS Group), Vinod Gupta (MD of VG Learning Destination), PS Jayakumar (ex-MD and CEO of Bank of Baroda), Ramesh Swaminathan (CFO of Lupine Group), Ajay Abrol (ex-Head Proprietary Trading of Nomura Singapore), Prem Rajani (Managing Partner of Rajani Associates), Akshay Gupta and N Jayakumar (Prime Securities management team), the company said.
88academics (India) – an 88tuition group company (Singapore) – will use the funds to develop India-specific content for the K-12 segment, he added. TV Mohandas Pai, partner at Aarin Capital Partners, said the organization is looking to partner with technology-intensive companies in life sciences and health, education and other potentially important companies focused on India or first of all Indian.
Sanfe secures $ 1 million in Series A funding
Feminine hygiene and intimate skin care brand Sanfe has raised $ 1 million in Series A funding led by LetsVenture, Ajay Garg, Tarun Sharma, Arjun Vaidya and Dhimant Parekh. The company plans to use the capital for marketing and is working on associations and collaborations to increase brand presence and retention with target audience, she said in a statement.
Sanfe claimed its online business grew 55% in the current quarter and the brand achieved growth of more than 210% per year. To date, the startup has raised $ 1 million in pre-Series A funding from Shankar Naryanan, Rohit Chanana, Titan Capital and others.
Xander Group invests Rs 78 crore in Sanctum Wealth
Global investment firm Xander Group has invested Rs 78 crore in Sanctum Wealth, a wealth management company. The investment will be made through Alex’s Singapore financial services arm and the funds will be used to strengthen Sanctum’s operational platform and increase its client coverage, Sanctum said in a statement.
“Our partnership with the Xander Group, with whom we share our core values and see many synergies, should allow us to accelerate our growth and further strengthen our platform,” said Shiv Gupta, CEO of Sanctum. Sanctum Wealth began operations in April 2016 with the acquisition of the Indian private banking business from the Royal Bank of Scotland.
It manages over Rs 16,000 crore for over 1,100 wealthy families in India and abroad. “This will lead to exponential growth in consulting and wealth management over the next decade,” said Sid Yog, founder of The Xander Group. Zanskar Advisors was the investment banker for the transaction.
WinZO Announces $ 20 Million Game Development Fund
WinZO, a vernacular interactive social games platform, announced on Monday the third edition of its Game Developer Fund (GDF) with the largest ever recorded corpus of $ 20 million (around Rs 147.2 crore). The development comes six months after the games startup raised $ 65 million Series C funding from Griffin Gaming Partners and others.
The company announced its first $ 1.5 million fund in July 2019, followed by $ 5 million Fund II in November of last year. It received more than 500 entries, of which around 70 games were selected. WinZO has made investments in the range of $ 100,000 to $ 500,000 in each of the partnerships, ranging from the design phase to the near-completion phase of the product lifecycle, the company said in a statement.
The company is looking to invest in all forms of interactive entertainment – games, savings around games, content creation, live operations and security, the company added. It aims to collaborate with companies working in these areas through capital investments, infrastructure support and monetization support.
WinZO is also setting up an internal team to assess and deploy this capital that will work directly with the founders, the company said.
WinZO is partnering with game studios and game developers around the world to bring these games to multiple multiplayer formats. It generates revenue for developers through a monetization model based on micro-transactions versus alternative means of in-app purchases and ads.