Startup funding this week | Zomato raises $250 million; Innovaccer becomes a unicorn
Semi-cooked foods, personal loans and ed-tech were among other sectors that saw funding activity
February 27, 2021 / 02:32 PM IST
The startups' space remained abuzz with big-ticket deals last week. While Zomato raised $250 million, ahead of its potential initial public offering, healthcare technology firm Innovaccer gained the much-coveted unicorn tag with an undisclosed amount of fundraising.
Zomato's funding round was led by existing investor Kora Management. Fidelity Management, Tiger Global besides new investors such as Bow Wave Capital Management and Dragoneer Investment Group also participated in the round. The transactions valued Zomato at a post-money valuation of $5.4 billion.
Innovaccer raised funding from existing and new investors such as Tiger Global Management, Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital, M12 -Microsoft's venture fund and OMERS Growth Equity- an arm of the Canadian pension fund OMERS.
In other news, the app-based platform for consumer electronics products Arzoo raised $6 million from venture debt fund Trifecta Capital. Another young startup that provides personal loans, MyShubhLife raised $4 million in its Series A round by Patamar Capital.
The semi-cooked food market is still hot among the investors and this was proven by the $2.75 million fundraisings by ready to cook food brand Fingerlix. The round saw participation from food delivery firm Swiggy besides Accel Venture Partners.
Another company to have raised funding was ed-tech startup Kutuki. The Bengaluru-based firm which caters to children between the age of three to seven raised $2.2 million from Omidyar Network India, Better Capital, First Cheque and Abhishek Nag.