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HomeTechETtech Deals Digest: winter continues despite slight uptick in funding

ETtech Deals Digest: winter continues despite slight uptick in funding

The funding winter for Indian startups has been long and cold. Venture funding for Indian startups fell to $2.7 billion in the September quarter, from nearly $12 billion in the same period last year, according to Venture Intelligence.

However, funding picked up slightly this week, with Contentstack raising $80 million and Simplilearn $45 million.

Amid the macroeconomic uncertainty and investors’ aversion to risk, Indian startups could be in for more good news soon, as Tiger Global’s head of private investments Scott Shleifer will be in the country next week, ET reported on Nov 17. Tiger Global is one of the most aggressive investors globally and in India, having backed companies such as Flipkart, Ola, Razorpay and Upstox.

Here are the top funding deals this week.

Contentstack raises $80 million from Insight Partners, Illuminate Ventures: Content management and experience platform
Contentstack has raised $80 million as part of its latest round of funding, co-led by Georgian and Insight Partners. The round also saw participation from Illuminate Ventures. With this investment, the company has raised $169 million to date.

Edtech firm Simplilearn raises $45 million: Simplilearn
has raised $45 million in a fresh round of funding led by global edtech-focussed venture capital firm GSV Ventures. Clal Insurance, DisruptAD, and ADQ’s venture platform also participated in the round, which has taken place at a time when the technology funding ecosystem and the edtech market in general are witnessing volatility.

Discover the stories of your interest

BeatO gets $33 million in round led by Lightrock: Diabetes care startup
BeatO has raised $33 million in a funding round led by Lighrock India. HealthQuad, Flipkart Ventures and existing investors including Blume Ventures and Leo Capital also participated in the round. The company said it would use the fresh capital to scale its business, hire top leadership, invest in hardware and software products, and sell its products to more customers across the country.

CSR-tech platform Goodera raises $10 million: Bengaluru-based CSR-tech platform Goodera
has raised $10 million from a clutch of investors, including Zoom Ventures, Elevation Capital, Flipkart cofounder Binny Bansal’s Xto10X, Nexus Venture Partners and Omidyar Network. Bansal has also invested in the startup in his personal capacity. This is the first investment in India for Zoom Ventures, the investment arm of US-based video-conferencing platform Zoom.

Fixigo raises seed funding in a round led by Agility Ventures: Auto-tech startup
Fixigo has announced raising an undisclosed seed funding in a round led by Agility Ventures. Industry veteran and director of iGlobe Telecom Tarun Kalra, and Alienics Inc, a Canadian investment firm, also invested in the round along with a few other angel investors. The startup plans to use the funds to expand its services to new markets and build its brand.

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