Zomato’s $250 million round
has closed a $250 million funding round, led by existing investors Tiger Global, Kora and Fidelity. The round values the food delivery firm at $5.4 billion post-money, from about $3.9 billion in December when it had raised $660 million.
ET was the first to report last month that the online food delivery platform was closing a $500 million fundraise in what was being widely regarded as a pre-IPO funding round. The capital raising was expected to comprise a mix of primary cash infusion of $250 million and a similar amount by way of secondary share sales by Chinese investors Ant Group and Sunlight Fund, amid heightened geopolitical tension between India and China.
Innovaccer’s valuation trebles in seven months
Healthcare-focused software-as-a-service startup Innovaccer
has raised $115 million in Series D funding at a valuation of $1.3 billion, a more than three-fold jump from $350 million last year. The round was led by Tiger Global with participation from B Capital, Dragoneer, Steadview Capital and Microsoft’s VC fund M12. Omers of Canada, and McKinsey partner Ajay Gupta also participated in the financing round.
Innovaccer’s cloud platform connects healthcare data culled from various sources, collates them in one place for easy access and then recommends actionable insights, resulting in better outcomes and lower costs.
Infra.Market joins the unicorn club
Infra.Market, a startup providing a one-stop marketplace for construction materials,
has raised $100 million in Series C funding round led by Tiger Global with participation from other existing investors Accel Partners, Nexus Venture Partners, Evolvence India Fund, Sistema Asia Fund and Foundamental.
Infra.Market is a procurement marketplace that uses technology to provide procurement experience for all players in the construction ecosystem. It is targeting the $140 billion construction materials market with a strong focus on the infrastructure sector.
Other key deals
■ Online tutoring app
has raised Rs 224 crore (about $31 million) financing led by SIG and Lupa Systems and participation from existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the financing round.
Hubilo, a virtual and hybrid events platform,
has raised $23.5 million in Series A funding led by Lightspeed Venture Partners and Balderton Capital. This comes months after the startup raised $4.5 million in seed funding from Lightspeed Venture Partners and a clutch of angel investors.
VerSe Innovation, the parent company of news aggregator Dailyhunt and short-video platform Josh,
has acquired Bengaluru-based AI solutions provider
Cognirel Technologies. Cognirel’s team of scientists will join the firm while founder Ram Prakash will head the firms’s newly instituted artificial intelligence lab.
■ Agritech platform
has acquired B2B SaaS startup
FarmGuide. This acquisition will help the company build a full stack platform for agribusiness. FarmGuide’s founding team will join FarmGuide.
has acquired doubt-solving app
Instasolv, joining larger peers Byju’s and Unacademy in the purchasing spree. The deal adds close to one million potential active learners of Instasolv to Vedantu’s platform. Instasolv will also use Vedantu’s capabilities in live classes, technology, product, and content to scale up, the company said. Vedantu had earlier invested $2 million in Instasolv last year.