Here’s a lowdown of the top deals from the startup universe.

Magicpin raises $60M in Series D Funding led by Zomato

Offline discovery and rewards platform Magicpin has raised $60 million in Series D funding led by Zomato with participation from existing investors including Lightspeed Ventures.

The funding announcement comes days after MoneyControl reported that Zomato, flush with cash following the IPO, is looking to model itself on its earliest investor Info Edge and make investments to the tune of $50-100 million in at least 15-20 consumer internet startups in India.

Magicpin was among the companies reported to be in line to get an investment from the foodtech giant. In fact, Zomato founder Deepinder Goyal had joined the company’s board as an independent director in July.

Now, Magicpin’s total fundraise since inception is expected to have topped $100 million. The valuation at which the funds were raised in this round is unknown at the moment.

“What Zomato did with restaurants, Magicpin is doing for the entire offline shopping experience. Magicpin is one of the most important players in the nascent hyperlocal e-commerce space (both offline and online) – and we expect Magicpin to create a tremendous amount of value for its merchant partners as well as customers going forward,” said Deepinder Goyal, founder, Zomato.

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Magicpin will use the fresh funds to deepen presence in existing markets, launch new markets and expand across categories. Currently, the startup claims to be clocking over $1 billion in annual gross merchandise value (GMV).

Healthtech startup Mosaic Wellness raises $24M

Health and wellness startup Mosaic Wellness has raised $24 million in Series A funding round led by Sequoia Capital India.

Existing investors Elevation Capital and Matrix Partners India too participated in the investment round.

Mosaic previously raised a $10 million seed round in December 2019 pre-launch from Elevation Capital, Sequoia Capital India & Matrix Partners India alongside marquee Angels like Jitendra Gupta, Kunal Shah & Jaydeep Barman.

The business now has annualised revenues of $14 million and caters to more than 100,000 customers a month across its health and wellness offerings, the company said in a statement. The startup runs digital health clinic platforms Manmatters and Bodywise.

Insurance startup Turtlemint to be the next unicorn?

Online insurance startup Turtlemint is in talks to raise about $200 million, valuing it at over $1 billion, Moneycontrol reported.

Tiger Global Management, among other investors, is in talks to lead the funding round which could push the startup into the unicorn club.

The company has over 120,000 advisors who are on track to generate $54 million in revenue in FY22, according to a version of Turtlemint’s investor documents viewed by Moneycontrol.

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Turtlemint will collect total premiums of $234 million in FY22 and wants this figure to grow to $2.5 billion by FY25, which is projected to bring in revenue of $350 million. It also plans to go public in FY25, the report added.

Cradlewise secures $7M seed round from Footwork and others

Silicon Valley-based baby-tech startup Cradlewise has secured $7 million in a seed round led by venture capital firm Footwork, with participation from CRV and existing investors SOSV and Better Capital.

Other notable investors participating include Katrina Lake (founder of Stitch Fix), Jeremy Cai (CEO of Italic) and Dilip Goswani (CTO of Molekule). Sachin Oswal (Co-founder Infibeam) and Sonny Vu (ex-CEO of Misfit Wearables) have participated in previous rounds of funding.

The funds will be used to accelerate the company’s innovation and technology roadmap and grow their team in India with hires in engineering, software, product, and customer success, the startup said in a statement.

Cradlewise makes smart cribs with a built-in baby monitor that uses AI to learn the baby’s sleep patterns and adapts to changing needs

Troo Good gets Rs 55 Cr in Series A Funding from OAKS Asset Management

Millet snacks company Troo Good has raised Rs 55 crore in its Series A funding round led by investment firm OAKS Asset Management.

The company said it will use these funds to expand its business from Andhra Pradesh and Telangana to several other states across India, as well as achieve their mission of serving nutritious and affordable snacks to 1 crore children every day.

Currently, the company serves nearly 10 lakh children and expects this number to go up significantly as they open new markets.

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“2023 is the International year of Millet and the Indian government too has identified millets as a long-term solution to the Indian food and water resource management issues, besides having significant health and nutritional benefits. We have come a long way in creating a robust pipeline of products and corresponding expertise and are now looking to scale rapidly” Raju Bhupathi, founder of Troo Good.

Prodo raises Rs 3 Cr in pre-seed round from Titan Capital and LetsVenture

B2B e-commerce platform Prodo has raised Rs 3 crore in its pre-seed round led by LetsVenture and Titan Capital.

The round also saw participation from marquee angels such as Abhinav Sinha (Global COO, OYO), Nimesh Kampani (Co-founder and CEO, trica), Gaurav Ajmera (CBO, Pristyn Care) Prasun Choudhary (President, OYO International), Saurabh Aggarwal (Co-founder, Fitso by Zomato) and others.

The startup said it will use the fresh capital to strengthen its team, technology and to ramp up its operations.

Prodo is a one-stop B2B ecommerce platform that provides manufacturing of made-to-order and white-labelled consumables. The company claims to have on boarded over 130 manufacturing units in India as a part of its network.

OTT platform TVF bags $2M in debt from BlackSoil

Video on demand and over-the-top streaming service The Viral Fever has raised $2 million in debt funding from venture debt firm BlackSoil.

BlackSoil had earlier provided venture debt to TVF in 2019 and is renewing their partnership in 2021.

The company will be using the funds for its working capital requirements on the production of web series and other content for its clients that include both brands and OTT platforms, it said in a statement.

“We have a great pipeline of shows for the next couple of years to meet the increasing demand of quality content from the audiences. This debt raise is going to help us deliver this pipeline and fully take advantage of the OTT boom,” said TVF President, Vijay Koshy.

Xpand secures $1.5M in pre-Series A funding round

Xpand, Last Mile Channel Enhancement’s (LMCE) business-to-business logistics and warehousing platform, has raised $1.5 million in a Pre-Series A funding round at a valuation of nearly $10 million.

The funding round was led by Akash Prakash, chief executive officer, Amansa Capital who invested in his personal capacity.

The company plans to utilize proceeds from the raise to enhance its in-house tech capabilities and build a trained, tech-savvy, and efficient geo-local sales force, it said in a statement.

Xpand is B2B aggregator which connects retailers, franchises, and companies with kiranas helping them to expand their reach. The platform leverages existing infrastructure with zero investment in stock, warehousing, or logistics.

Life Quest Clubs raises undisclosed funding from GetVantage

Digital interactive community platform Life Quest Clubs has raised an undisclosed sum from GetVantage a revenue-based financing fintech platform.

The company said it will use the fresh capital to enhance its existing user acquisition channels, improve its content creation efforts, and strengthen operations for greater scalability.

“The investment from GetVantage will help Life Quest Clubs earmark new dawn in the Indian matrix of the Personal Growth and Development industry which is still in its infancy,” said Rohan Shah, Life Quest Clubs, founder.

Life Quest Clubs is a personal growth and development platform which follows a community-based approach to connect experts with consumers looking for guidance in several professional and personal domains.

(Edited by : Priyanka Deshpande)

First Published:Nov 10, 2021 9:16 PM IST