ETtech Deals Digest: Startup funding down 35% in 2022 despite Nov blip

The increase in funding last month was mostly driven by early- and growth-stage rounds, which crossed $1 billion in a month after more than five months.

According to another report by Tracxn, startup funding fell 35% year-on-year this year (as of December 5). Investments in the retail and fintech sectors fell 57% and 41%, respectively, according to Tracxn’s India Tech 2022 annual report. Yet, these two sectors and enterprise applications remained top fundraisers during the year.

ETtech

Here is a list of all startups that raised funds this week.


HealthKart raises $135 million funding led by Temasek: Omnichannel nutrition retailer
HealthKart has raised $135 million (about Rs 1,100 crore) in its Series H funding round, led by Singapore’s sovereign fund Temasek. Mumbai-based A91 Partners and Kae Capital also participated in the round, the company said in a statement. HealthKart’s post-money valuation has touched Rs 3,000 crore (around $370 million). Post-money valuation includes the primary capital raised by the company.

HUL enters wellness space with Oziva, Wellbeing Nutrition deals: HUL said
it will invest Rs 264 crore in its first tranche for a 51% equity stake in Oziva while the balance 49% will be acquired at the end of three-year period based on pre-agreed valuation, which it did not specify. In addition, HUL will buy 19.8% equity stake in Wellbeing Nutrition for about Rs 70 crore.

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B2B edtech startup Uolo raises $22.5 million: Uolo Technologies, a communication platform for schools, on Friday said
it has raised $22.5 million in a Series A round of funding led by Dubai based growth stage investor firm Winter Capital. Other investors included another Dubai-based fund, Morphosis Venture Capital and existing investor Blume Ventures. The Bengaluru based company had previously raised a seed round of funding of $3 million led by Blume in November 2020.

Uniqus Consultech raises $12.5 million in Series A funding: Uniqus Consultech Inc, a tech-enabled global platform that offers ESG and accounting advisory services,
has raised $12.5 million in a Series A fundraise. The startup, which has been co-founded by ex-Big Four leaders—Jamil Khatri, former global head of accounting advisory services at KPMG, and Sandip Khetan, former head of financial accounting advisory services at EY India—also launched its operations on Thursday.