ETtech Deals Digest: Mohalla Tech, Innovaccer raise funds this week

ShareChat parent raises $266 million

Mohalla Tech, the parent company of Moj and ShareChat,
raised $266 million as part of its Series G round, at a valuation of $3.7 billion.

The investment was led by Alkeon Capital with participation from new and existing investors including Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. This is the third round of funding for the startup in 2021.

The Bengaluru-based social media firm counts Tiger Global, Snap, Twitter and Lightspeed Ventures among its investors. Founded in 2015, Mohalla Tech has now raised over $1.177 billion across eight fundraising rounds with $913 million raised this year itself.

Innovaccer raises $150 million

Innovaccer, a healthcare software-as-a-service (SaaS) firm,
raised $150 million, or about Rs 1,145 crore, in new funding after which its valuation has more than doubled to $3.2 billion, or about Rs 24,400 crore.

The UAE’s Mubadala Capital, an existing investor, led the funding round with participation from other existing investors like B Capital Group, Microsoft’s M12 fund, OMERS Growth Equity, Dragoneer, Steadview Capital, and Tiger Global Management.

ET had first
reported about the potential bump up in Innovaccer’s valuation in its December 6 edition, which highlighted a flurry of deals happening in Indian origin SaaS firms.

Flipkart, Walmart invest $145 million in Ninjacart

Ninjacart, a supply chain company for fresh produce,
picked up $145 million from Flipkart and its US-based parent, Walmart Inc, in what the Indian ecommerce firm said was the biggest deal in India’s agritech space.

This is the third time Flipkart is investing in Ninjacart. It first invested an undisclosed amount in the Bengaluru-based startup in 2019 and then put around $30 million more in it late last year with Walmart.

ETtech

ET was the
first to report on the likely transaction in its Monday edition, saying the deal would peg Ninjacart’s valuation at $750-800 million compared with $500 million in its previous round and that the funding round could get stretched over to more than $100 million.

Uni raises $70 million led by General Catalyst

Uni, a fintech startup offering pay-later solutions through its cards,
raised $70 million (more than Rs 530 crore) in one of the largest series A funding rounds in India.

The new funding in the company founded by PayU India cofounder Nitin Gupta was led by General Catalyst. Venture funds like Eight Roads Ventures, Elevation Capital and Arbor Ventures have joined as new investors.

Existing investors Lightspeed and Accel India also participated in this round, post which the Bengaluru-based startup is now valued at $350 million compared with just about $45 million a year ago.

SoftBank leads $60 million funding in Juspay

Payments technology startup Juspay
secured $60 million in a funding round led by SoftBank Vision Fund II.

SoftBank put in $50 million while the rest came from the existing investors, VEF and Wellington Management, Juspay’s founder Vimal Kumar said.

This is the first investment from SoftBank in an Indian payments firm after its portfolio firm Paytm went public last month in what was a
disappointing debut on the bourses. SoftBank had invested around $1.6 billion in Noida-based Paytm.

Other key deals