Start-Ups

Amagi, a cloud SaaS technology startup based in New York, has now become a unicorn after raising $95 million (about Rs 723 crore) in a new round of funding at a billion-dollar valuation. The new investment was led by Accel, as well as current investors Norwest Venture Partners and Avataar Ventures. Amagi, which has now collected over $280 million in funding, plans to use the funds to expand its business, both in terms of its international reach and its product offering in the present media and entertainment (M&E) industry. “This…

Clear, formerly ClearTax, a provider of online taxes and finance software, announced on Wednesday that it has acquired supply chain financing technology business Xpedize. This is Clear’s second acquisition, following the purchase of Ybanq, a B2B payments platform, in July. By the conclusion of FY’23, Clear hopes to double down on the collateral lending potential and reach $1 billion in total loan disbursement value. Clear will provide Xpedize investors such as HDFC Capital and YourNest Venture Capital an exit as part of the agreement. According to the corporation, it would…

New Delhi-based Cosmofeed, a content creation platform, has received $1.5 million in seed funding from growx ventures, Waveform Ventures, and 9Unicorns. Silk Bridge Partners (SBP), a Singapore-based investment holding firm, and angel investors Swati Mohan (CBO – Heads Up For Tails, former CMO – Netflix India), Rannvijay Singha (actor, influencer), and Subhadip Nandy participated in the round (trader, financial educator). Cosmofeed, founded by Vivek Yadav and Vishnu Pathak in September 2021, allows content creators to monetize their work and profit on a regular basis. Creators may easily create premium groups,…

Growfitter, a Mumbai-based incentivized health and wellness platform that was recently featured on Shark Tank India, said today that it has raised $1 million in a pre-Series A funding round headed by Gurugram-based angel investment firm Inflection Point Ventures (IPV). First Port Capital, Mumbai Angels, Startup Angel Network, DevX Accelerator Fund, Blockchain Founders Fund (Singapore), and JPIN also participated in the financing. Mohit Burman (Vice Chairman, Dabur India) and Aman Gupta, Co-founder and CMO of boAt, were among the angel investors who participated in the round. Sanmati Pande and Harshit…

Razorpay, a fintech unicorn, announced the acquisition of digital payments firm IZealiant Technologies for an undisclosed sum on Tuesday. Razorpay will absorb the whole crew of IZealiant Technologies as part of the deal. Razorpay has made five acquisitions since its beginning in 2014. Last month, the company made its worldwide debut by acquiring Malaysian financial provider Curlec. IZealiant is a Pune-based startup that offers banks and financial institutions mobile-first, API-enabled, cloud-ready payment processing tools. According to a release, the acquisition of IZealiant will boost Razorpay’s banking solutions arm, allowing it…

UpScalio, an e-commerce roll-up firm, has secured $15 million in a pre-Series B investment headed by Gulf Islamic Investments in the United Arab Emirates (GII). Northern Arc and Unity Bank were among the lenders who took part in the round. After financing companies like 1-India Family Mart and Bombay Shaving Company, this is GII’s sixth investment in India. In 2021, GII announced that it would invest $500 million in the Indian market spanning consumer brands, consumer technology, and healthcare. This round of funding follows UpScalio’s $42.5 million Series A round…

Licious, an online retailer of meat and seafood, revealed on Tuesday that it had raised $150 million. Amansa Capital, based in Singapore, led the Series F2 round, which also included Kotak PE and Axis Growth Avenues AIF – I. Nithin and Nikhil Kamath of Zerodha, Aman Gupta of BoAt, and Haresh Chawla of True North were among those who took part in the round. For the deal, Avendus served as Licious’s only financial advisor. Despite the fact that the company has not disclosed its worth, it claims to be India’s…