Venture Catalysts partnership with Credai to start a $100-million fund for real estate startups that made the most noise.
At a time when big-ticket finding has slowed down owing to an ongoing tech winter and rising inflationary headwinds, the creation of a $100-million fund can go a long way in bringing the spotlight back on Indian startups.
The fund will invest in early- to growth-stage startups catering to all the significant real-estate segments including residential, commercial, institutional (hotels, schools, hospitals), and industrial (warehouses, factories).
SoftBank plans $35 million bet on India’s GoMechanic: SoftBank Group is in talks to invest
$35 million in Indian car service and repair startup GoMechanic, in what would be one of the Japanese investor’s smallest bets in India by its Vision Fund, which typically signs bigger cheques. The early-stage talks with GoMechanic are being held around a valuation of $600-700 million, with Malaysian sovereign fund Khazanah and existing investor Tiger Global also planning to invest in the $100-million funding round.
Wow! Momo Foods raises $16 million from Oaks Asset Management:
Wow! Momo Foods raised $16 million (Rs 125 crore) in funding from private equity fund Oaks Asset Management at a valuation of Rs 2,125 crore. The funding is a part of a two-tranche raise, with the second one being planned with another fund where Wow! Momo intends to raise Rs 100 crore. The company would use the fresh infusion to fuel the quick service business expansion and strengthen the FMCG arm of Wow! Momo.
General Catalyst pumps $14.5 million in CertifyOS: US-based healthtech startup
CertifyOS has raised $14.5 million (about Rs 115 crore) in its Series A round, led by General Catalyst. Existing backers Upfront Ventures, Max Ventures, and Arkitekt Ventures also participated in the round. CertifyOS delivers API-first credentialing, licensing, enrolment, and network monitoring to payors, providers, health systems, and digital health companies in the United States.
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GroMo picks $11 million in funding from SIG Venture Capital, others:
GroMo, a fintech platform for 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. The other key investors include Y-Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, and others.
Zippmat raises $10 million in funding led by Matrix:
ZippMat, a service platform for construction supply chain, has raised $10 million in an equity and debt round led by Matrix Partners India. Existing investor Zephyr Peacock also participated in the equity financing, while HDFC Bank and TradeCred took part in the debt funding. The startup will utilise the latest funds to scale up its user base, digitise the supply chain, bring in product innovation, and expand its team.
