Thursday, October 6, 2022

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funding winter: ETtech Offers Digest: Startups proceed to reel underneath the funding winter

Large numbers proceed to name it a go within the Indian startup funding state of affairs. After weeks of tepid funding rounds concerning numbers and values, this week additionally appears to have sub-$100 million offers. Macroeconomic concerns, slowing economies, and tighter liquidity throughout economies are prone to be the rationale.

Solvy Tech Options, which runs the insurtech platform Zopper raises $75 million

Solvy Tech Options, which runs insurtech platform Zopper, has
raised $75 million from buyers led by Creaegis, in participation with ICICI Enterprise and Bessemer Enterprise Companions, and current backer Blume Ventures. Zopper cofounder Surjendu Kuila advised ET that the capital can be used to assist the worldwide enlargement of Zopper, to beef up the platform’s expertise and knowledge engineering

Gifting options firm Be a part of Ventures raises $23.5 million

Gifting options firm Be a part of Ventures
has raised $23.5 million (Rs 187 crore) in its newest funding spherical led by MO Alternate Funding Advisors, a subsidiary of monetary companies conglomerate Motilal Oswal Monetary Companies.

Audio streaming startup Kuku FM raises $21.8 million

On Wednesday, audio streaming startup Kuku FM mentioned it
has raised $21.8 million in funding led by Nandan Nilekani’s enterprise fund Fundamentum Partnership. Kuku FM mentioned it can deploy the funds to broaden its catalogue, strengthen its content material creation ecosystem, and supply extra language decisions to listeners because it goals to realize an over 10 million paid subscribers base by finish of subsequent 12 months.

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F2C model Deep Rooted raises $12.5 million

Deep Rooted, a farm-to-consumer (F2C) model for fruit and veggies, introduced it
has raised $12.5 million in a funding spherical led by IvyCap Ventures, with participation from current buyers together with Accel, Omnivore and Mayfield. Over the subsequent 12 months, the startup plans to broaden its operations to cowl main cities in South India, strengthen its expertise stack, and proactively rent throughout advertising, expertise and enterprise features.

Web3 chess startup and market Immortal Recreation raises $12 million

Web3 chess startup and market Immortal Recreation mentioned it
has raised $12 million in funding led by TCG crypto. Different tech and leisure VC specialists reminiscent of Cassius, Greenfield One, Sparkle Ventures, Kevin Durant’s and Wealthy Kleiman’s 35V, Blockwall, Kraken Ventures and Spice Capital additionally participated within the spherical.

Speech expertise startup Murf AI raises $10 million

Speech expertise startup
Murf AI mentioned it has raised $10 million in funding led by Matrix Companions India. Present investor Elevation Capital, and distinguished angel buyers reminiscent of Ajay Arora, senior vp, product, Disney Streaming; Ankit Bhati, cofounder of Ola; Ashwini Asokan, cofounder of Mad Avenue Den additionally participated.

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