Funding and acquisitions in Indian startup this week [16 – 21 Sep]

In the past week, Indian startups raised approximately $628.24 million, with 14 growth-stage and 17 early-stage deals. Notable growth-stage fundings included Physics Wallah ($210 million) and Whatfix ($100 million). Early-stage startups, led by Kaleidofin, secured $61.8 million. Bengaluru dominated city-wise deals, while e-commerce, SaaS, and fintech sectors led in segment-wise funding. Overall, funding increased by 175% compared to the previous week. Three funds were launched: Z21 Ventures, Capital A, and Shivalik Investment Fund. Noteworthy developments included Byju’s layoffs, MobiKwik partnering with Meta, and PhonePe capturing over 50% of the UPI market. Meanwhile, Elara Capital predicts a lower valuation for Swiggy compared to Zomato, amid ongoing challenges for BYJU’S.

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https://entrackr.com/2024/09/f....unding-and-acquisiti

OYO acquires Motel 6-parent G6 Hospitality for $525 Mn

OYO has agreed to acquire G6 Hospitality, operator of Motel 6 and Studio 6, for $525 million in an all-cash deal. The acquisition, expected to close by late 2024, will transfer G6 from Blackstone Real Estate to OYO. Motel 6 operates 1,450 hotels across the US and Canada, generating $1.7 billion in gross room revenues. This marks OYO's second major acquisition, following its purchase of Checkmyguest for $27 million. OYO recently raised $175 million, with $100 million from founder Ritesh Agarwal, and plans to refile its IPO papers. Despite turning profitable last year, OYO's revenue from operations dropped 1.4% to Rs 5,389 crore in FY24.

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https://entrackr.com/2024/09/o....yo-acquires-motel-6-

Moneyview raising $30 Mn debt via private placement

Moneyview, a Bengaluru-based lending platform, is set to raise Rs 250 crore ($30 million) through debt via private placements, marking its first significant debt round in three years. The funds will be allocated for growth, working capital, and general corporate purposes. The company is also nearing unicorn status, with plans to raise $50-60 million from new and existing investors, including Apis Partners, Accel Partners, and Evolvence India. To date, Moneyview has raised around $190 million and was valued at $900 million in its last equity round. The firm, which offers various financial services and products, reported a revenue increase to Rs 577 crore and a profit surge to Rs 163 crore for FY23.

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https://entrackr.com/2024/09/e....xclusive-moneyview-r

Decoding Rapido’s $120 Mn unicorn round

Rapido, a mobility startup, has achieved unicorn status after raising $120 million in a Series E funding round led by WestBridge Capital. The funding, disclosed through regulatory filings, involved issuing equity and convertible preferred shares to raise Rs 1,002 crore ($120 million). Rapido plans to use the funds for expansion and growth. The startup is now valued at around Rs 8,517 crore ($1.02 billion) and has become the second-largest ride-hailing platform in India, surpassing Ola. In FY23, Rapido's operating revenue tripled to Rs 443 crore, although losses also increased by 54% to Rs 675 crore. WestBridge Capital remains the largest external stakeholder with a 32.88% share.

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https://entrackr.com/2024/08/d....ecoding-rapidos-120-

Zomato acquires Paytm’s movie and ticketing biz for $244 Mn

Zomato is acquiring Paytm's movie and ticketing business for Rs 2,048 crore ($244 million), marking its first major acquisition since Blinkit in June 2022. The deal involves the transfer of 100% stakes in Paytm’s subsidiaries Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider) to Zomato, along with 280 employees from these subsidiaries. The entertainment ticketing business will remain operational on the Paytm app for up to 12 months during the transition. For FY24, this business generated Rs 297 crore in revenue and an adjusted EBITDA of Rs 29 crore. The acquisition reflects Zomato’s continued expansion and Paytm’s efforts to extract value from its struggling assets.

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https://entrackr.com/2024/08/z....omato-acquires-paytm