In India, it could be a funding autumn not winter with active funds are still closing big deals
- The number of
unicorns in Indiawill increase from 122 to 200 in the next four years, according to Hurun report.
- India also saw 28.6% growth in funding value during the same time frame as compared to other countries like UK, US, and China.
- Here are a few top deals, funds that were sealed in the month of June.
AdvertisementAmidst the funding winter,
It looks like the prediction might come true as Indian
India also saw 28.6% growth in funding value during the same time frame as compared to other countries like UK, US, and China, the report says.
A similar growth was seen in May as well this year. A recent report by IVCA-EY said that the private equity and venture capital investments in May 2022 were at $5.3 billion, which is 42% higher than May 2021 – though the startup fund took a 12% hit in the month.
But there is no dearth of mergers, acquisitions and buyouts, stake sales and more. Here are a few top deals, funds that were sealed in the month of June.
Eyewear unicorn Lenskart has announced on June 30 that it acquired a majority stake in the Japanese eye-wear firm named Owndays for a whopping $400 million.
This move will help the company to reach 13 more markets in Asia including Singapore, Thailand, Taiwan, Philippines, Indonesia, Malaysia and Japan.
Lenskart will also expand its engineering team from 300 to 500.
2. Infosys to invest upto $10 million in the US-based The House Fund
Infosys has entered into an agreement with the US-based The House Fund III, a venture capital to invest upto $10 million. The Indian tech major will have a minority holding in the fund not exceeding 20% of the fund size.
The House Fund is a pre-seed and early-stage venture capital fund based in California, US which invests in AI-focused startups from the UCB ecosystem.
Private equity giants KKR and TPG Capital are in talks with TVS Motor to invest at least $300 million.The funding will be used by the company to expand its presence in the electric vehicle market.
TVS Motor may raise the money in September by selling 20-25% of TVS Electric Mobility, according to sources.
Retail technology company Arzooo — which helps small retailers compete with Amazon and Flipkart — announced that it has raised a whopping $70 million from Japan-based SBI Investment, Trifecta Leaders Fund and others.
The round witnessed participation from several global and Indian VCs such as Celesta Capital and 3 Lines VC, who previously infused capital in Arzooo’s Series A round.
5. Google invested in Indian fintech startup Progcap
Indian fintech startup, which caters to small and medium size businesses, raised $40 million in Series C round of funding led by tech giant Google, Creation Investments and Tiger Global.
6. Baring-backed startup Matter raises $10 million
The electric vehicle maker — Matter, backed by equity major Baring PE, raised $10 million in its first round of funding from
The company aims to launch its first electric motorcycle later this year. The fresh funds will be used towards the launch of its new vehicle and energy storage products.
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