ETtech Deals Digest: CoinDCX, Rario, VideoVerse raise funds this week

CoinDCX raises $135 million in funding as valuation doubles to $2.15 billion

Crypto trading exchange CoinDCX
has raised $135.9 million (about Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital, doubling its valuation to $2.15 billion in less than a year to become the most valued crypto trading platform in India.

The round also saw existing investors B Capital, Coinbase Ventures, Polychain Capital, and Cadenza Capital Management increase their investments in the crypto exchange.

Cricket NFTs platform Rario raises $120 million led by Dream Capital

Cricket non-fungible tokens (NFTs) platform Rario
has raised $120 million, led by Dream Capital, the corporate venture capital and M&A arm of Dream Sports.
ET was the first to report on February 25 that Dream Capital was in advanced talks to lead a funding round in Rario.

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Illustration: Rahul Awasthi

VideoVerse rakes in $46.8 million from A91 Partners, Alpha Wave and others


Video editing software startup VideoVerse, formerly known as Toch AI,
has raised $46.8 million in a funding round led by A91 Partners and Alpha Wave Global. Flipkart cofounder Binny Bansal also participated in the round, as did Stride Ventures, Innoven Capital and Pacific Western Bank, among others. The funding is a mix of equity and debt.

Rivals Swiggy, Zomato invest in restaurant management startup UrbanPiper


Restaurant management platform, UrbanPiper, announced that
it has raised $24 million in a new funding round led by existing investors Sequoia Capital India and Tiger Global, and food aggregator majors, Swiggy and Zomato. This is the first time both these food-delivery rivals have invested together in a startup.

Insurance startup Loop raises $25 million to drive sales growth


Insurance startup Loop
has raised $25 million as a part of a new funding round, co-led by existing investors General Catalyst and Elevation Capital (formerly Saif Partners). Loop’s latest fundraise comes on the back of a $12 million investment from General Catalyst and Elevation last September.

Newton School secures $25 million in funding led by Steadview Capital


Technology upskilling platform Newton School
has raised $25 million as part of its latest funding round, led by Steadview Capital. The company plans to use the capital to accelerate growth, expand its team, and invest in brand building initiatives.

Other key deals:

■
Mylo, a platform for expecting and new mothers, has announced a
funding round of $17 million led by W Health Ventures, a US-based digital health investor, ITC and Endiya Partners.

■ Audio OTT platform,
Headfone on Tuesday said
it has raised $10 million in Series B funding led by Elevation Capital. The company said it will use the funds to establish its presence in other languages.

■
Inventys Research Company
raised Rs 225 crore through private placement from Plutus Wealth Management and Pantomath Capital Management.

■
Recur Technologies PTE, a Singapore-based financing platform,
announced fundraising of $30 million in a combination of equity and debt from a clutch of Indian investors.

■ Singapore-based
Believe Pte Ltd
has raised $55 million in Series C funding from investors led by Venturi Partners and IIFL AMC. Existing investors Jungle Ventures, Accel, Alteria Capital and Genesis Alternative Ventures also participated in the round. The company has raised over $80 million across three funding rounds.

■ Collateral-free micro, small & medium enterprise (MSME) loans provider
Kinara Capital on Tuesday said
it closed a fresh equity round of Rs 380 crore (roughly $50 million) led by global investment manager Nuveen with participation from Dutch microfinance fund ASN Microkredietfonds advised by impact-focused investment manager Triple Jump.