Funding is a vital part of every enterprise. Especially, in the case of startups, funding plays a great role in the growth and expansion processes. This week witness various rounds of funding from various companies that raised funds from different investors.
Investment from the right investor can do wonders to a company and change its overview completely. The largest amount of funds that were raised were $120 million by Cure.fit which is a health and fitness startup.
Let’s now talk about the top five funding activities that took place in the previous week.
Starting with the biggest funding round, Health and fitness startup Cure.fit raised $ 120 million funding (Rs 824 crore) in new round of funding led by IDG Ventures, Accel Partners and Kalaari Capital. The series C round funding also saw participation from Chiratae Ventures and Oaktree Capital, Cure.fit said in a statement.
The funds from this investment will be used by Cure.fit to strengthen technology platform, invest in building a national brand and scale the geographical footprint for the company’s four flagship products Cult.Fit, Eat.Fit, Mind.Fit and Care.fit.
The Bengaluru based company has raised about USD 170 million till date.
Singapore based AI platform AntWorks raises $15 million (about Rs 103 crore) from SBI Investment Co Ltd, a subsidiary of Japan’s SBI Holdings, Inc.
The funds will be used in enterprise RPA (Robotic process automation), fuel R&D and foray into newer markets. The funding will help AntWorks and SBI Holdings to enter into the opportunities in the emerging AI space in South East Asia.
At the time, AntWorks primary delivery system was in Pune, India. Its first year, the company had $11 million in revenue.
Online minibus service Shuttl has successfully raised an amount of $11 million (about Rs 75 crore) in a series-B financing round.
This particular funding was led by Amazon, in connection with the Amazon Alexa Fund, and Dentsu Ventures along with existing investors.
The funds so raised will be utilized for product development, expansion into new cities and marketing. The company is also looking to increase the routes and frequency of its bus shuttle service in Delhi.
HealthPlix, an online healthcare startup based in Bengaluru has secured funds amounting to$3 million in a Series A funding round.
This round was led by IDG Ventures and Kalaari Capital.
The company will utilize the funds in strengthening its technology and grow its medical specialties. The company aims to bring a transformation in the way diseases are treated in the Indian outpatient care.
The company wants to add value to its platform and make India healthy, therefore, its focus is to make sure that a doctor runs his own clinic and own pharmacy.
Along with these investors, CaptialG also participated in the funding round. The particular round has valued the company at $1.5 billion, which was previously worth $750 million.
The funds raised through this funding round will be used to further grow its worldwide expansion and invest in its integrated SaaS platform. Through the latest funding round, the total funds raised by the company as of now has reached$250.