Lenskart $500 million
Multi-channel eyewear brand Lenskart announced signing definitive documents for a $500 million investment from the Abu Dhabi Investment Authority (ADIA), which also backs firms like Jio Platforms. According to reports, the transaction includes both primary and secondary shares, making ADIA one of the largest shareholders in Lenskart. The ADIA has reportedly acquired a 10% stake in Lenskart, which has been valued at $4.2 billion.
PhonePe $200 million
A digital payment platform in India, PhonePe, has raised $200 million. The American multinational retail corporation Walmart led the funding. This investment brings the total funding raised by PhonePe to over $1 billion. The company utilised this fund to expand its operations and offerings in the highly competitive Indian market. The platform was founded in 2015 and has quickly become a leader in the country’s digital payments space, with over 300 million registered users and 20 million merchants on its platform.
Mintifi $110 million
Mintifi, a supply-chain financing platform, has raised USD 110 million in a funding round, which was led by Premji Invest, along with participation from existing investors. Existing investors include Elevation Capital, Norwest Venture Partners, and the International Finance Corporation (IFC) participated in the Series D funding round. The surat-based startup raised USD 175 million in equity and debt earlier. Anup Agarwal, Ankit Mehta and Sanjoy Shome, had founded the platform in 2017. The company said the funding will expand the capital base to over USD 600 million and help deepen its business network with its brand partners.
Humane $100 million
Former Apple Inc employees founded a startup Humane Inc, in 2018. The platform has raised $100 million and will release its first products this spring. Founded by Imran Chaudhri and Bethany Bongiorno, Humane INC has claimed that it is working to develop a software platform and consumer device with the help of artificial intelligence (AI). However, the company has not disclosed the name of the product.
Kabira $50 million
Kabira Mobility an electric two-wheeler maker secured $50 million (around Rs 412 crore) funding. The funding was led by Qatar-based Al-Abdulla Group. The company plans to utilise the capital to fund its future growth in the country. The Panjim-based company plans to ramp up the production capacity of its electric bikes KM3000, KM4000, and introduce new products and enhance sales infrastructure nationwide. Currently, the company has an installed production capacity of 40,000 units a month at its Dharwad-based plant in Karnataka.
HealthPlix $22 million
HealthPlix Technologies raised $22 million in a seriesC round of funding. Avataar Venture Partners led the round. Other participating investors include SIG Venture Capital and returning investors such as Lightspeed Venture Partners, JSW Ventures, Kalaari Capital and Chiratae Ventures. Founded by Sandeep Gudibanda in 2014, HealthPlix services over 10,000 doctors across 16 specialities with its artificial intelligence-powered EMR platform, with over 22 million patients treated using the platform.
Ulearn $15 million
Unlearn.AI has raised $15 million to expand partnerships and accelerate regulatory approval. The company built a machine learning platform which creates “digital twin” profiles of patients in clinical trials. The investment from Wittington Ventures and Radical Ventures valued the firm at $265 million, the company said in a statement. Unlearn will utilise the raised funds to build digital twins to speed up clinical drug trials through its neural networks.
ATLYS $12 million
ATLYS, AN ONLINE visa application platform, has raised $12 million in funding from Sequoia Capital and Accel Partners in its first funding round of 2023, as per Entrackr. The start-up plans to use the fresh investments to expand its coverage in India and other countries, as well as to build out its team. Former Pinterest engineer Mohak Nahta founded Atlys, which aims to simplify the visa application process for users by using phone cameras to scan documents and providing step-by-step guidance throughout the entire process.
Gynoveda $10 million
Ayurvedic female-tech brand Gynoveda raised $10 million in a Series A round of funding led by India Alternatives Fund. Other participating investors included Wipro Enterprises, RPG Ventures, Dharampal Satyapal and Alteria Capital. The company was founded in 2019 by the husband-wife duo Rachana Gupta and Vishal Gupta, along with gynaecologist Dr. Aarati Patil, to democratise Ayurveda-enabled, curative self-care solutions for gynaecological and lifestyle-related disorders women face from puberty to menopause.
Aerem $5 million
Aerem, a solar tech platform, raised $5 million (₹41 crores) in a Pre-Series A round. Climate-tech investor Avaana Capital led the round. The round also saw follow-on participation from Blume Ventures, including debt financing of $1.5 million from prominent financial institutions. The company will utilise these funds to expand its suite of innovative solar tech and financing solutions and build an ecosystem that brings together all the stakeholders — financial institutions; engineering, procurement and construction (EPC) companies; and businesses (MSMEs) — to enable end-to-end solutions for rooftop solar projects.