September’s Top 10 Fund-Raising Company
- NetraDyne ($65 million)
NetraDyne, artificial intelligence that focuses on driver and fleet safety, has secured $65 million (Rs.518 cr) in a combination of senior and junior mezzanine financing from US-based Silicon Valley Bank. The funding will support Netradyne’s global corporate expansion, continued industry-leading product development, and commercial growth. The firm currently operates in the US, India, Canada, UK, Australia and New Zealand.
- 1mg ($40 million)
Tata 1mg Technologies Pvt. Ltd, which runs online pharmacy 1mg, has raised $40 million in a funding round led by its majority shareholder Tata Digital Limited at a unicorn valuation. Online pharmacy 1mg has entered the unicorn club after an internal funding round led by Tata Digital.
- StartupXseed ($30.4 million)
Early-stage venture capital firm StartupXseed Ventures has raised Rs 243 crore ($30.4 Mn) in its second fund. With this fund, StartupXseed plans to back strong founders that are capable of building enterprise solutions and selling those solutions across the globe. The startup said it would help the selected startups in product development, building growth strategies, expanding across geographies and fortifying organizational capabilities.
- Deep Rooted ($12.5 million)
The Bengaluru-based Deep Rooted, Farm to fork startup has raised $12.5 million in a Series A funding round led by IvyCap Ventures, which also witnessed the participation from existing investors, including Accel, Omnivore, and Mayfield. Deep Rooted plans to use the raised funds towards expanding its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology, and business functions.
- Sigmoid ($12 million)
Sigmoid, a data engineering and AI solutions startup, has raised $12 million in its series B round from Sequoia Capital India. The startup will use the capital to evolve its market offerings, expand delivery centres and cater to new industries. Founded in 2013 by IIT Kharagpur alumni Lokesh Anand, Mayur Rustagi and Rahul Kumar Singh, Sigmoid provides data engineering and AI consulting to help enterprises gain competitive advantage through effective data-driven decision-making.
- GroMo ($11 million)
GroMo, a fintech platform for the distribution of financial products in tier 2-and-beyond cities, has raised $11 million in equities from a clutch of investors led by SIG Venture Capital, the Asian venture capital arm of SIG, a global proprietary trading and private equity investment firm. GroMo distributes its products across insurance, investments, credit cards, and loans, as well as savings & demat accounts from IDFC Bank, Jupiter Money, Axis Bank, and Freecharge, among others.
- ZippMat ($10 million)
Bengaluru-based construction supply chain platform ZippMat has secured $10 million in an equity and debt round led by Matrix Partners India. ZippMat will use the fresh funds to scale its user base, digitize the supply chain, innovate products and expand the team. ZippMat is building a platform to help our construction community manage their entire supply needs, from planning to order to delivery at the site.
- Murf AI ($10 million)
Synthetic speech technology startup Murf AI has raised a $10 million Series A funding round led by Matrix Partners with participation from existing investor Elevation Capital and angel investors including Ajay Arora, Ankit Bhati, Ashwini Asokan, Pushkar Mukewar, and Yamini Bhat. The venture plans to use these funds to drive further product innovation, accelerate R&D, and scale its presence in focused geographies.
- 91 Squarefeet ($10 million)
Retail store development company 91Squarefeet has raised $10 million in a Series A round by Stellaris Venture Partners with participation from its existing investors, Y Combinator, Betatron and other angel investors. 91Squarefeet plans to use the funds to strengthen its on-ground service and product development teams and deepen engagement with its supplier network.
- CashFlo ($8.7 million)
India’s Supply chain finance startup CashFlo has raised $8.7 million in funding as part of its second round of capital raise led by General Catalyst with participation from existing investor Elevation Capital. The funds will be used to expand market leadership in India’s enterprise segment and invest in core products and technology.