<ul><li>The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF.</li><li>The company was valued at $850 million in its Series D round raised in May 2019.</li><li><keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">BlackBuck</keyword> has over 1.2 million trucks registered on its platform across 700 districts.</li></ul>Online platform for trucks BlackBuck has entered the unicorn club on Thursday, July 22, after raising $67 million in a new round of funding. The round was led by Tribe Capital, IFC Emerging Asia Fund and Bermuda-based VEF. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. According to a few media reports citing anonymous sources, BlackBuck was valued at $1.02 billion. BlackBuck’s existing investors Wellington Management, Sands Capital and World Bank’s investment arm International Finance Corporation (IFC) also participated in the round. It was valued at $850 million in its last Series D fundraise in 2019. The company intends to use this funding to further expand and launch new service offerings. It will invest heavily, it said, in product and data science capabilities to get better efficiency in freight matching for the Indian trucking ecosystem. The startup will also scale its financial services and insurance offerings with new partnerships. “It has been six years and we are just getting started to make a difference. We continue to dedicate ourselves for the foreseeable future to solve fundamental Indian trucking problems. The new financing round gives us more firepower to invest in fundamentally hard trucking problems and continue deepening our reach and impact,” said Rajesh Yabaji, co-founder and chief executive (CEO) of BlackBuck. BlackBuck was founded in 2015 by Yabaji, Chanakya Hridaya, and Ramasubramaniam. The company has over 1.2 million trucks registered on its platform across 700 districts in over 1,000 industrial hubs. Its customers include Hindustan Unilever, Coca Cola, Asian Paints and Tata Group. The company’s CEO claims that BlackBuck has witnessed 20-fold growth on the supply side and a 10-fold growth in the demand side over the last two years, thanks to digital adoption. Arjun Sethi, co-founder and partner at Tribe Capital, added that the company’s ability to measure output and productivity growth has streamlined logistical challenges for the logistics industry over a short time frame. BlackBuck is the 16th startup to enter the unicorn club this year, compared to 11 unicorns for the whole of 2020. SEE ALSO <a href="https://denmark.timesinternet.in/cms/CMSMain.jsp?u=kritti.bhalla@timesinternet.in#!/newarticle?wfId=2103404&amp;tabsStateId=41">India’s SaaS sector to hire more than 260,000 people by 2025</a> <a href="https://www.businessinsider.in/business/news/byjus-acquires-us-based-epic-plans-to-invest-1-billion-in-the-north-american-market/articleshow/84612303.cms">BYJU's acquires another American startup, plans to spend $1 billion on US expansion</a> <a href="https://www.businessinsider.in/tech/news/youtube-is-testing-shopping-feature-on-live-streams-for-select-creators/articleshow/84628204.cms">YouTube is testing shopping feature on live streams for select creators</a>

Trucking startup BlackBuck is India’s 16th unicorn this year after a $67 million fundraise

<ul><li><keyword id="15575244" type="General" weightage="80" keywordseo="bonatra" source="Orion">Bonatra</keyword> is a men’s wellness doctor-led IoMT startup (Internet of Medical Things) focused on managing male menopause and chronic diseases in men. </li><li>Bonatra will use the funding received to expand technology and product offerings, build the team and grow the customer base. </li><li>The National Health Mission reports non-communicable diseases account for 60% of deaths in India. </li></ul>Bonatra, a men’s health and wellness startup has raised ₹5.5 crores in a pre-seed round led by ITI Growth Opportunities Fund. ITI Growth Opportunities Fund is an early stage <keyword id="6357097" type="General" weightage="20" keywordseo="venture-capital" source="Orion">venture capital</keyword> firm. The funding also saw participation from marquee angel investors like <keyword id="1938986" type="General" weightage="50" keywordseo="jitendra-jagadev" source="Orion">Jitendra Jagadev</keyword>, founder, Nestaway and Helloworld, and Rajesh Yabaji, founder, <keyword id="53463" type="General" weightage="50" keywordseo="blackbuck" source="Orion">Blackbuck</keyword>. Bonatra is India’s only doctor-led IoMT (Internet of Medical Things) unified health stack solution and was founded in March 2022 by Rahul Kishore Singh(CEO), Manjari Chandra(CMO), Ramanpreet Singh(COO) and Amit Acharya(CTO) to manage chronic diseases in men. “The incidence of lifestyle disorders in men across ages has increased over the past decade as a result of dietary changes and sedentary lifestyles. We founded Bonatra, intending to enable men to take proactive steps to prevent, manage, and reverse various health conditions,” Rahul Kishore Singh, CEO and co-founder, Bonatra said. The National Health Mission reports non-communicable diseases account for 60% of deaths in the <a href="https://nhm.gov.in/index1.php?lang=1&amp;level=2&amp;sublinkid=1048&amp;lid=604">country.</a> This includes diabetes, thyroid, cardiac diseases and cancer, to name a few. Over the last several years, the incidence of cardio-metabolic diseases in men has considerably increased, and the risk factors continue to be high, Bonatra claims. Incidence of <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4046605/">andropause</a> or male menopause also brings with it mood swings, loss of muscle mass, loss in <keyword id="31468" type="General" weightage="20" keywordseo="libido" source="Orion">libido</keyword> and energy. Issues such as loss of libido, fatigue, insomnia, receding hairlines, poor muscle mass, depression, repeated infections, and joint pains are commonly seen in young men. However, most chronic conditions are manageable through prevention and timely detection, the company estimates. It offers personalised, targeted lifestyle, nutritional and fitness interventions to balance hormones in men. This includes managing early andropause, correcting gut dysbiosis (imbalance in gut bacteria) and reducing heavy metal toxicity in the body. The startup states it has served over over 1000 patrons and works with more than 400 doctors across India. “Bonatra is a unique mix of medical science, data science, and technology. Since its launch in March, Bonatra has demonstrated impressive growth, and it's evident that they are fulfilling a large unmet need in the healthcare space. The brand is positioned for incredible future growth and has the potential to become a category leader,” Mohit Gulati, managing partner, ITI Growth Opportunities Fund said. The funding received will be used to expand technology and product offerings, build the team and grow the customer base, the company said. Other investors who participated in the round include Satish Shetty and <keyword id="2684471" type="General" weightage="50" keywordseo="anuj-bishnoi" source="Orion">Anuj Bishnoi</keyword>, founders, Morningcart (Big Basket Daily), Ankit Maheshwari, CFO India, Cars24, Divyanshu Anand, VP, Cars24, Ankit Agarwal, VP, Global Business, OYO, Shakeeb Anwar, Head, Virtusa, UK, <keyword id="15575245" type="General" weightage="50" keywordseo="sarath-ruthvic" source="Orion">Sarath Ruthvic</keyword>, VP, Brookfield, and others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/from-a-college-dropout-to-most-subscribed-youtuber-everything-to-know-about-mr-beast/slidelist/95607609.cms">From a college dropout to most subscribed YouTuber, everything to know about Mr. Beast</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/big-fat-indian-weddings-back-but-with-slimmer-guest-lists/articleshow/95657820.cms">Big fat Indian weddings back but with slimmer guest lists</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/space/news/humans-will-be-able-to-live-for-longer-periods-on-the-moon-in-this-decade-says-nasa/articleshow/95652408.cms">Humans will be able to live for longer periods on the Moon in this decade, says NASA</a>

Wellness startup dealing with male menopause raises ₹5.5 crore in pre-seed funding

<ul><li><keyword id="6031547" type="UNKNOWN" weightage="20" keywordseo="Log-9">Log 9</keyword> Materials has raised $8.5 million in its Series A round.</li><li>It would use the capital to further develop its rapid charging system and aluminum-ion batteries.</li><li>AC Ventures, Exfinity Ventures and Sequoia Capital India’s <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword> also participated in the round.</li></ul>Bengaluru-based advanced <keyword id="168461" type="TECHNOLOGY" weightage="20" keywordseo="battery-technology">battery technology</keyword> startup Log 9 Materials has raised $8.5 million in a Series A funding round led by industrial and automotive battery maker Amara Raja Batteries (ARBL). The 36-year-old company — that has a market cap of over ₹12,000 crore — would infuse $5 million in the Bengaluru-based startup as a part of this deal. The deal is a part of the battery giant’s 'Energy and Mobility' strategy to enter new green technologies and solutions. “This will mark the first in a series of interesting developments that we plan to execute in the future. In this fast-changing technology landscape, we do not believe in a ‘one-size-fits-all’ approach and we are convinced that there will be the scope for interplay of multiple technology solutions for various applications,” Vikramadithya Gourineni, executive director at ARBL, said. The rest $3.5 million in <keyword id="11821909" type="UNKNOWN" weightage="20" keywordseo="log-9-material">Log 9 Material</keyword>’s Series A round was infused by both new and old investors, including AC Ventures, Exfinity Ventures and Sequoia Capital India’s accelerator programme Surge. Blackbuck’s cofounders Rajesh Yabaji and Chanakya Hridaya, Premji Invest’s partner Rajesh Ramaiah, Equinor’s Desikan Sundarajan and Emirates Investment Authority’s Faiz Mayalakkara also participated in the round. Founded by Akshay Singhal in 2015 at Indian Institute of Technology (IIT) Roorkee’s incubation centre TIDES, Log 9 Materials is a deeptech startup that focuses on battery technology for electric vehicles as well as other appliances. The company plans to use this latest funding to expand its production capacity and business development efforts for the latest innovation, <keyword id="11821911" type="UNKNOWN" weightage="20" keywordseo="rapid-charging-battery">Rapid Charging Battery</keyword> technology. The latest technology has completed its pilots successfully and will be rolled out for commercial use in October 2021. A part of the capital would also be used to advance other innovations like supercapacitor and aluminum fuel cell-based innovations. Supercapacitors are electrochemical energy storage devices that use power from the product/vehicle itself to power it. For instance, a supercapacitor would capture energy generated when a bus brakes and use it to start the bus again. Aluminium fuel cells are aluminium-air batteries (AI-air batteries) that produce electricity from oxygen and aluminium reactions. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/investment-firm-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management-aum/articleshow/85161486.cms">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms"></a><a href="https://www.businessinsider.in/retail/news/future-retail-stocks-cannot-shake-off-the-shock-from-the-deal-with-reliance-falling-through/articleshow/85170165.cms" data-type="tilCustomLink">Future Group stocks cannot shake off the shock from the deal with Reliance Retail falling through</a> <a href="https://www.businessinsider.in/stock-market/markets/news/cost-cutting-is-not-helping-vodafone-idea-fresh-funds-might-but-nothing-is-coming/articleshow/84092610.cms">Cost cutting is not helping Vodafone Idea, fresh funds might ⁠— but ‘nothing is coming’</a>

Battery maker Amara Raja invests in five-year-old startup Log 9

<ul><li>Logistics startup <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> raised $150 million in a series D round led by <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> Investment Partners and Silicon Valley-based Accel. </li><li>Blackbuck employees have the option to liquidate 25% of their total vested stocks, at the current stock price of the company.</li></ul>In the Indian startup world, talks have been doing the rounds – which one is going to hit the unicorn club next? And if you have been a part of these discussions, two logistics startups names have always come in – <keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> and Blackbuck. All eyes have been on funding announcements by either of these startups, to know that they have ferried their way into being a unicorn. Well, Blackbuck announced its funding on Wednesday, and although it has fallen a few million short of being a unicorn (it is currently valued at $950 million) – it had another interesting Employee Stock Ownership Plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) round. The online marketplace for trucking has raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation. “With this round of financing, we will invest to deepen our presence across the national market. Significant investments will be made into product development and data sciences, both these dimensions are core to BlackBuck’s marketplace approach”, said Rajesh Yabaji, CEO &amp; Co-Founder of BlackBuck. However, along with this round Blackbuck employees had the option to liquidate 25% of their total vested stocks, at the current stock price of the company. According to the company’s official statement, over the last four years, the company’s employee stock option (ESOP) plan created a cumulative value of over $43 million and the company continues to invest heavily in this direction. The logistics startup made this offer available to its employees for the second time. In 2017, when the company was still an early entrant in the today’s $150 billion long haul road transportation industry in India, had offered its employees to liquidate their stocks for <a href="https://inc42.com/buzz/blackbuck-logistics-esop-repurchase-plan/">11X</a> returns. The move comes in to ensure employee growth along with the company’s growth. BlackBuck has over 300,000 trucks and 60,000+ fleet owners on its platform and services major companies including Coca Cola, HUL among others. See Also: <a href="https://www.businessinsider.in/delhivery-raises-395-million-from-softbank-enters-the-unicorn-club-of-india/articleshow/68287009.cms">Delhivery becomes India’s first unicorn in 2019, thanks to SoftBank</a> <a href="https://www.businessinsider.in/private-equity-and-venture-capital-deals-in-india-were-worth-10-billion-in-q1-2019/articleshow/68716660.cms">Indian funding deal value in the first three months of 2019 is over half of last year's total</a>

This Indian startup’s latest funding is also going to make its employees rich

<ul><li>Logistics startup <keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> has raised $65 million in its Series E round.</li><li>This funding, which came in from Warburg Pincus and <keyword id="161314" type="COMPANY" weightage="20" keywordseo="SAIF-Partners">SAIF Partners</keyword>, is a part of its ongoing Series E round. </li><li>The startup’s last reported valuation was $950 million and with this funding it could have crossed the $1 billion mark to be a unicorn.</li></ul>Logistics startup Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners. Rivigo’s last reported valuation was at $950 million when it raised the earlier tranche for the Series E round, in February. With the new round, Rivigo could have become India’s latest unicorn, although it’s not confirmed yet. “We continue on our mission to make logistics human and digital. Relay trucking is now very well established where relay truck pilots lead better life and customers gets exceptional service. With technology and freight marketplace, we now want to bring relay to every truck in the country,” Deepak Garg, chief executive of Rivigo, said in a <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/warburg-pincus-saif-partners-lead-65-million-funding-round-in-rivigo/articleshow/70171852.cms">statement</a>. Rivigo and its competitor <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> both have been racing towards the unicorn status. Blackbuck had announced its latest funding in May and it had fallen a few million short of being a unicorn. It is also currently valued at $950 million. Blackbuck had raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.

Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

<ul><li>In May 2019, India saw M&amp;A transactions worth $3.4 billion and PE deals worth $1.1 billion take place, according to a report by Grant Thorton.</li><li>When compared to April 2019, the deal volumes have dropped by 29% although deal size grew by 6%. </li><li>Startups led the PE deals with companies like <keyword id="2466939" type="PERSON" weightage="20" keywordseo="Grofers">Grofers</keyword> and <keyword id="53463" type="COMPANY" weightage="20" keywordseo="blackbuck">Blackbuck</keyword> raising big money in May 2019.</li></ul>The election month did not go down well with investors. In May 2019, there was an 83% drop in deal value for the month as fewer <keyword id="496458" type="PERSON" weightage="20" keywordseo="PRIVATE-EQUITY-DEALS">private equity deals</keyword> closed, as did mergers &amp; acquisitions. India witnessed 33 M&amp;A transactions and 48 PE deals worth $3.4 billion and $1.1 billion for the period, according to a report by Grant Thorton. The number of deals too dropped by 17%, the report said. When compared to April 2019, the deal volumes have dropped by 29% even as the deal size grew by 6%. Indian startups led the PE deals with as many as 25 deals closed for the month accounting to $325 million. The e-commerce sector saw just three deals but their combined size worth $229 million. The biggest investments included $200 million funds raised by Grofers from Japanese investment firm Softbank. Logistics firm Blackbuck too raised as much as $150 million. Interestingly, both the companies are in the running to become the next unicorns of India. In the first quarter of 2019, India had saw a flurry of activity in the PE and venture capital space. PE-VC firms invested $10 billion in the country via 159 deals, according to data research firm <a href="http://ventureintelligence.blogspot.com/2019/04/private-equity-investments-up-26-to-10.html">Venture Intelligence</a>.

India's PE and M&A deal values in May 2019 dropped by 83% from last year

<ul><li><keyword id="11976846" type="General" weightage="20" keywordseo="refyne" source="Orion">Refyne</keyword> allows working professionals to get on-demand salaries within 60 seconds.</li><li>The company is backed by DST Global, RTP Global, QED Investors and now <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>.</li><li>It has partnered with 150 organisations, catering to over 700,000 employees.</li></ul>One-year-old fintech startup Refyne, which allows working professionals to get a portion of their earned salaries in advance within 60 seconds, has raised $82 million in a round led by private equity firm Tiger Global. The company’s existing investors DST Global, QED Investors, Jigsaw VC, XYZ Capital and RTP Global also participated in the round, The company has not disclosed its valuation. However, Refyne’s founder and chief executive (CEO) Chitresh Sharma told Business Insider that its valuation has increased nearly 6.5 times since its last round raised in June 2021. With this, the company has raised $106 million since its inception in December last year. The Bengaluru-based startup was founded by Sharma and Apoorv Kumar as a way to offer a quick earned wage access (EWA) platform to working professionals. The concept has seen keen interest in the western market with players like PayActiv, Wagestream, Clair, CloudPay NOW and Square Payroll. Refyne claims to be the first Indian startup to enter the EWA domain. It has partnered with 150 organisations, catering to over 700,000 employees. Its clientele include Practo, TeamLease, CARS24, Tenon, Shadowfax, Rebel Foods, Acko, BlackBuck, Arti Group, Cafe Coffee Day, among several others. In a conversation with Business Insider, CEO Sharma highlighted that organisations would have to shell out a lot of capital, manpower and efforts in order to integrate earned wage access mechanisms to its employees. Therefore, integrating with a third party platform like themselves would make much more sense. “We save a company close to 150 man hours every month when they deploy a plug in. And it is commercially free for platforms [companies],” Sharma added. Refyne currently charges a small transactional fee, starting from ₹6 on each of these transactions. The company has emphasised earned wage access is not a loan, therefore the company does not charge any interest or hidden processing fee. “If my salary was 30,000 and I work for 10 days, I can see my salary for those 10 days and I can access a certain percentage of that salary in 60 seconds. No paperwork, no bureaucracy… I have money in hand,” CEO Sharma said, explaining Refyne’s business model. A report by Ernst and Young (EY), in partnership with Refyne, had noted that 81% employees in India are facing liquidity crunch between pay cycles. The company aims to cater to the needs of 3 million employees by the end of 2022 and believes that Tiger Global international network of companies could come in handy here. “We are already working with a lot of their [Tiger Global’s] portfolios by default. For their exposure to their portfolios, where we are not there. Yes, it will help a lot,” Sharma added. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/news/due-date-for-filing-income-tax-returns-extended-to-march-15-2022/articleshow/88836918.cms">Due date for filing income tax returns extended to March 15, 2022 for individuals whose accounts are to be audited</a> <a href="https://www.businessinsider.in/stock-market/news/paytm-investors-alibaba-owned-ant-group-and-softbank-have-lost-money-on-the-company-too/articleshow/88824714.cms">Not just small investors, even Alibaba-owned ANT Group and Softbank have lost money on Paytm</a> <a href="https://www.businessinsider.in/retail/news/dmarts-near-normal-performance-in-q3-fails-to-impress-analysts/articleshow/88837288.cms" data-type="tilCustomLink">DMart is focussing on being a cost-effective grocer, but the market wants it to be more than that</a>

INTERVIEW | This one-year-old startup raised $82 million led by Tiger Global to offer employees advance on their salaries

<ul><li>This is one of the largest seed funding rounds closed by an Indian startup to date.</li><li>It had raised $2 million in a pre-seed round, earlier this year, from Sequoia <keyword id="6426108" type="UNKNOWN" weightage="20" keywordseo="Surge">Surge</keyword> and other angel investors.</li><li>It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform.</li></ul><keyword id="350225" type="PERSON" weightage="20" keywordseo="Klub">Klub</keyword>, a fintech startup that provides revenue-based financing, has raised a seed funding of $20 million (about ₹150 crore) in a mix of equity and debt. This is one of the largest seed funding round closed by an Indian startup to date. In June, Thrasio-style startup 10Club had raised <a href="https://www.businessinsider.in/business/startups/news/bhavna-suresh-has-closed-indias-largest-seed-round-for-her-nine-month-old-startup-10club/articleshow/83978841.cms">$40 million</a> in seed funding. This was the largest seed funding round closed by a startup in India. Klub’s seed round was led by existing investors 9Unicorns and Sequoia Capital India’s accelerator programme Surge. New investors Alter Global and Japan's GMO VenturePartners also participated in this round. The investment round was represented by Wadhwa Law Offices as the legal counsel. Founded in 2019 by Ishita Verma and Anurakt Jain, Klub offers flexible growth capital ranging between ₹2 lakh to ₹30 crore to digital brands. The platform offers funding — without equity dilution or personal guarantees — for recurring marketing, inventory and other capital expenditures. Revenue based financing is a new form of fundraising that allows companies or brands to raise growth capital, without having to give up on any equity via venture capital rounds and or have debts. The repayment of the capital raised from Klub happens as a percentage of future revenues. “The digital revolution in India has leveled the playing field for local businesses, and we are thrilled to have a front-row seat in this multi trillion-dollar opportunity… India’s digital commerce ecosystem requires more than ‘one size fits all’ financing, and with this round, we can further our mission of enabling growth for loved brands,” Klub’s cofounder Jain said. It plans to utilise the latest seed capital to expand its team, accelerate development of its tech and data platform, and expand its product offerings and market segments to make Klub. It plans to deploy ₹500 crore over the next few quarters in local brands as well as digital small and medium enterprises (SMEs). The fintech startup had closed a $2 million pre-seed round in January 2021. CRED founder Kunal Shah, Livspace founder Ramakant Sharma, BlackBuck founder Rajesh Yabaji, among others also invested in the company’s pre-seed stage round. Klub uses deep data-driven analytics to make funding decisions faster. The fintech startup claims that over 500 businesses have explored funding with the platform recently. SEE ALSO <a href="https://www.businessinsider.in/retail/news/a-third-of-internet-users-would-be-actively-shopping-online-by-the-end-of-this-decade-offline-retail-to-take-a-back-seat/articleshow/85390712.cms">A third of internet users would be actively shopping online by the end of this decade, offline retail to take a back seat</a> <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a href="https://www.businessinsider.in/business/auto/news/tamil-nadu-government-is-upset-about-losing-money-on-luxury-cars/articleshow/85322536.cms">Tamil Nadu government is upset about losing money on luxury cars</a>

Revenue-based financing startup Klub raises $20 million in seed round

<ul><li>Indian <keyword id="6362513" type="General" weightage="20" keywordseo="startups" source="Orion">startups</keyword> have raised $6.5 billion across 160 deals in the second quarter of 2021.</li><li>Eleven startups also turned unicorns, companies valued at above $1 billion, in the same quarter.</li><li>Nearly 50% of the $6.5 billion fundraise was clocked in by top 10 deals of the April-June quarter of 2021.</li></ul>The April-June quarter of 2021 turned out to be a great one for the <keyword id="1948072" type="General" weightage="20" keywordseo="indian-startup" source="Orion">Indian startup</keyword> ecosstem despite the second wave of COVID-19 wreaking havoc across the country. As per the latest NASSCOM-PGA Labs report, India’s startups have raised $6.5 billion across 160 deals in the second quarter of 2021. Eleven startups also turned unicorns — companies valued at above $1 billion — in the same quarter, taking the total tally to 53. While many reports had previously suggested that India would have 100 unicorns by 2025, the number has been revised to 150 due to the massive uptick in funding as well as unicorn rounds.. Interestingly, 11 startups had entered the unicorn club in 2020. "Q2 2021 has been impeccable for the startup growth story. From being the most funded quarter, it has also added the most number of unicorns. Standing tall during the pandemic second wave headwinds, the Indian startup ecosystem has shown a strong resilience in this quarter," the report said. Nearly 50% of the $6.5 billion fundraise was clocked in by top 10 deals of the April-June quarter of 2021. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Funding </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Key investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Swiggy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$800 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falcon Edge Capital, Goldman Sachs, Think Capital, Amansa Capital and Carmignac </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ShareChat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$502 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tiger Global Management </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Byju’s </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$340 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UBS, Blackstone, ADQ </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PharmEasy </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$323 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prosus Ventures, TPG Growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Meesho </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$300 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Softbank Vision Fund, Prosus Ventures, Shunwei Capital, Venture Highway </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pine Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$285 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Baron Capital Group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhivery </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$277 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fidelity Investments </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zeta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$250 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SoftBank Vision Fund </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cred </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$215 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falcon Edge Capital, Coatue Management </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Urban Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$188 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Prosus Ventures, Tiger Global Management, DF International Partners </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total of top deals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr></tbody></table> Innovaccer, Infra.market, Digit and Five Star Finance became unicorns in the first quarter of 2021. Urban Company, Cred, Meesho, Groww, PharmEasy, ShareChat, GupShup, Chargebee, Moglix, Zeta and BrowserStack turned unicorns in the April-June quarter. In the ongoing third quarter of July to September, another 10 startups have been added to the unicorn club. This includes, BlackBuck, Droom, OfBusiness, BharatPe, MindTickle, UpGrad, CoinDCX, Eruditus, Grofers and Zetwerk. Overall, 25 startups have entered the unicorn club in 2021 so far. SEE ALSO <a href="https://www.businessinsider.in/politics/world/news/this-is-the-time-to-save-your-life-an-afghan-refugee-recounts-fleeing-kabul-on-a-c-17-military-plane-and-arriving-in-the-us/articleshow/85579190.cms" data-type="tilCustomLink">An Afghan refugee who lifted his wife and toddler onto a C-17 military plane to flee Kabul tells the harrowing story of how they arrived safely in the US</a> <a href="https://www.businessinsider.in/cryptocurrency/news/visa-purchases-cryptopunk-nft-for-150000-as-it-gets-involved-in-the-booming-digital-collectibles-market/articleshow/85564627.cms">Visa purchases CryptoPunk NFT for $150,000 as it gets involved in the booming digital-collectibles market</a>

Swiggy, ShareChat, Byju’s lead the funding race as Indian startups raised $6.5 billion between April and June

<ul><li><keyword id="4376738" type="PERSON" weightage="20" keywordseo="ElasticRun">ElasticRun</keyword> raised $40 million from <keyword id="8265057" type="UNKNOWN" weightage="20" keywordseo="Prosus-Ventures">Prosus Ventures</keyword>, which was formerly called <keyword id="3777101" type="PERSON" weightage="20" keywordseo="Naspers-Ventures">Naspers Ventures</keyword>.</li><li>The startup is currently present in 200 cities in India.</li><li>This year, two <keyword id="2879647" type="PERSON" weightage="20" keywordseo="Logistics-startups">logistics startups</keyword> Delhivery and Rivigo have achieved unicorn status.</li></ul>Pune-based logistics firm ElasticRun raised $40 million from Prosus Ventures, which was formerly called Naspers Ventures. The round also saw participation from Avataar Ventures and Kalaari Capital. With the funding, ElasticRun will invest in building its technology platform and evolve its analytics and machine learning platform. The startup also wants to expand to newer geographies. It is currently present in 200 cities in India. “The last mile problem is still a major issue both for logistics and consumer goods companies in India. By working with the network of small stores across the country, we solve that problem while helping the store owners grow their businesses at the same time. In addition, offering a flexible logistics extension to consumer goods companies to directly reach these small retail shops is a huge advantage over traditional distribution networks,” said Sandeep Deshmukh, ElasticRun Co-Founder and CEO. The latest funding in the $300 billion logistics industry in India is another proof of growing investor interest in the category. This year, two logistics startups Delhivery and Rivigo also achieved unicorn status. Rivigo raised $65 million in its latest Series E round. The funding came in from PE firm Warburg Pincus and SAIF Partners. Another logistics startup Blackbuck raised funds in May and fell a few million short of being a unicorn. It is currently valued at $950 million. Blackbuck raised $150 million from Goldman Sachs Investment Partners and Silicon Valley-based Accel, along with Wellington, Sequoia Capital, B Capital and LightStreet and existing investors Sands Capital and International Finance Corporation.

Logistics startup ElasticRun raises $40 million to expand to new geographies

<ul><li><keyword id="3156357" type="PERSON" weightage="20" keywordseo="Rivigo">Rivigo</keyword> is the latest startup to attain the $1 billion valuation.</li><li>This year, India has already seen 8 <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> joining the unicorn club. </li><li>With 3 months left for 2019, this year could break 2018’s record of 8 unicorns.</li></ul>India’s unicorn club seems to be having a good year as eight startups joined the coveted club In 2018, eight startups turned unicorns basically reached $1 billion in valuation. Here’s a look at all the startups that have crossed the valuation mark so far in 2019. Rivigo The latest startup to join the unicorn club is logistics startup Rivigo. The logistics sector had long been in the limelight after Delhivery turned unicorn. After this, both Rivigo and Blackbuck raised funds, heating up the race to being a unicorn. Now, Rivigo has managed to be a unicorn after it raised $4.9 million from South Korea's KB Platform Fund. After the deal closed, it is valued at $1.05 billion. Delhivery In March this year, Delhivery became 2019’s first unicorn. This was after the logistics tech startup raised $395 million from SoftBank. After its funding in March, it’s valued at $1.6 billion. The logistics solutions company was founded by Sahil Barua, Mohit Tandon, Suraj Saharan, Kapil Bharti and Bhavesh Manglani. They created a stronghold in the market by partnering with e-commerce majors like Flipkart and Paytm amongst others. Big Basket The grocery retail startup became a unicorn in March 2019. Bigbasket closed its Series F round of funding with an investment of $150 million, which valued it at $2.3 billion. The funding was led by Bigbasket’s earlier investor Alibaba, along with a new investor – Mirae Asset. The grocery sector which is now buzzing with new entrants like Swiggy. Grofers too turned its finances around, and has recently turned a soonicorn after the latest round of funding in May 2019. Ola Electric Ola’s subsidiary Ola Electric also turned a unicorn like its parent company. Its growth has also been fast as most of Ola’s existing investors placed their bets on the company. In July, it became a unicorn after raising $250 million from Softbank. In May, Ola Electric also raised funds from former Vodafone Group CEO Arun Sarin. Some of its other illustrious investors include Chairman Emeritus of Tata Group, Ratan Tata. In March, it had raised ₹4 billion from Ola’s existing and early investors – Tiger Global and Matrix India. Dream 11 India’s first gaming unicorn is Dream11, a fantasy gaming startup. It announced a secondary investment from Steadview Capital, an Asia-focused alternative asset manager in April 2011 which gave brought it its unicorn status. The 11-year old startup had a dream run in 2019, after signing up with IPL and the BCCI as its official partners. The cricket world cup along with IPL helped it clock in stellar numbers. In an interview with Business Insider, one of its founders Bhavin Sheth said that the startup hopes to hit 100 million users by the end of the year. Icertis In July 2019, India and US-based Software-as-a-Service (SaaS) platform Icertis became a unicorn. It raised $115 million in funding from Azim Premji’s Premji Invest and US-based VC firm Greycroft. The company, which offers contract management, has 5.7 million contracts across 90 countries. Some of its are Adobe, Airtel, Cognizant, Infosys, and Microsoft. Druva The Indo-US startup Druva entered the unicorn club in June 2019. The cloud data protection startup raised $130 million in a round that was led by Viking Global Investors. It also saw participation from funds like Neuberger Berman and Atreides Management. Existing investors Riverwood Capital, Tenaya Capital, and Nexus Venture Partners too participated in the round. Druva is a SaaS (Software as a Service) startup which was founded by Jaspreet Singh and Milind Borate in 2008. Its patented cloud architecture enables cyber governance, improves cyber resiliency, and helps customers gain critical insights. Citius Tech The healthtech company was a lesser known startup which gained unicorn status. The company provides healthcare solutions, using technologies like business intelligence, mobility and IoT, Big Data, cloud computing, predictive analytics and data science. The company was acquired by Baring Private Equity Asia in July 2019, which gave it a valuation of $1 billion.

You Searched For "blackbuck investors" and got 11 results

Trucking startup BlackBuck is India’s 16th unicorn this year after a $67 million fundraise

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Wellness startup dealing with male menopause raises ₹5.5 crore in pre-seed funding

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Battery maker Amara Raja invests in five-year-old startup Log 9

Kritti Bhalla

This Indian startup’s latest funding is also going to make its employees rich

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Rivigo raises $65 million in its latest round as it stands at the door of the unicorn club

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India's PE and M&A deal values in May 2019 dropped by 83% from last year

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INTERVIEW | This one-year-old startup raised $82 million led by Tiger Global to offer employees advance on their salaries

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Revenue-based financing startup Klub raises $20 million in seed round

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Swiggy, ShareChat, Byju’s lead the funding race as Indian startups raised $6.5 billion between April and June

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Logistics startup ElasticRun raises $40 million to expand to new geographies

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With Rivigo joining the club, these are the 8 unicorns of 2019 so far

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