ETtech Deals Digest: startups see rise in funding this week led by Lenskart, PhonePe

Total of $782 million was poured into Indian startups in this week across 25 rounds, a 34% jump compared to the same period last year when startups raised $582 across 66 rounds, according to data provided by market intelligence firm Tracxn.

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The bump up in funding was led by the Abu Dhabi Investment Authority’s (ADIA) $500 million in Lenskart valuing it at $4.2 billion. Walmart-owned PhonePe also picked up $200 million from its parent company in an ongoing fundraise, boosting the funding numbers for the week.

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Seed funding for startups stood at $19.1 million constituting less than 3% of the total funds raised, while early-stage funding was at $41.3 million, making up 5.3% of the total money raised. Late-stage funding amounted to $722 million.

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Here is a list of startups that got funded this week:

ADIA signs $500 million cheque for 10% stake in Lenskart: Abu Dhabi Investment Authority (ADIA) and Lenskart, has signed a definitive agreement for a $500 million investment by the Gulf Sovereign wealth fund (SWF). The fundraise was done at a $4.2 billion valuation and will result in ADIA becoming one of the largest shareholders in Lenskart with a 10% stake. Even though the parties did not disclose the name of the existing investors that partially exited, it has been reported that some of Lenskart’s old investors SoftBank Vision, Kedaara Capital, TR Capital, Alpha Wave Global, formerly Falcon Edge, have been looking to part monetise their investment.PhonePe racks up additional $200 million from Walmart: Digital payments major, PhonePe on Friday said it has picked up an additional $200 million in primary capital from its parent Walmart. The fund infusion is part of its ongoing $1 billion financing round. The round is being raised at a pre-money valuation of $12 billion, making PhonePe the most valuable fintech in the country, surpassing payment services provider Razorpay which was last valued at $7.5 billion.

HealthPlix raises $22 million in Series ­C fundraising: Electronic medical record (EMR) software provider for doctors HealthPlix Technologies said it raised $22 million in a seriesC round of funding, led by Avataar Venture Partners. Other participating investors include SIG Venture Capital and returning investors such as Lightspeed Venture Partners, JSW Ventures, Kalaari Capital and Chiratae Ventures.

Influencer marketing startup One Impression raises $10 million: Influencer marketing startup One Impression has raised $10 million in Series A funding led by South Korean gaming major Krafton. The company said it will utilise the funds to expand its offerings, accelerate product development and grow its presence in international markets, starting with Southeast Asia and the United Arab Emirates.

Solartech platform Aerem raises $5 million: Solartech platform Aerem said it has raised $5 million (Rs 41 crores) in pre-series A round led by climate-tech investor Avaana Capital. The round also saw follow-on participation from Blume Ventures and it includes debt financing of $1.5 million from prominent financial institutions.

Gold loan startup Yellow Metal gets $3 million: Gold loan startup Yellow Metal has raised $3 million from investors led by global venture capital fund MSA Novo, the company said on Wednesday. The funding round also saw participation from Japan-based Spiral Ventures and existing investors WaterBridge Ventures and Java Capital.

D2C brand Zouk raises $3 million: Direct-to-commerce (D2C) fashion brand Zouk said it has raised $3 million led by Stellaris Venture Partners and saw participation from Sharrp Ventures, JJ Family Office, Deutsche Bank India CEO Dilip Khandelwal, Atomberg founder Manoj Meena and founders of Sugar Cosmetics Vineeta Singh and Kaushik Mukherjee.