ETtech Deals Digest: startups score two big deals amid funding winter

Synopsis Here are all the startups that raised funds this week. ETtech Tech startups have seen an uptick in investments of late but it’s been a poor year overall, with funding down 35% from last year, according to a Tracxn report. This dip has been driven by a slump in late-stage funding, which is down 45%, the report said.

This week, however, saw two large deals. Bengaluru-based ecommerce platform BigBasket raised $200 million from parent entity Tata Digital and others, while Data analysis company Tredence raised $175 million from Boston-based Advent International at a valuation of $500 million. Here are all the startups that raised funds this week.

BigBasket raises $200 million from Tata Digital, others: BigBasket has raised $200 million in new funding that boosts the valuation of the Tata Digital-owned e-grocer by 60% to $3. 2 billion, a top executive told ET. Apart from to Tata Digital, which owns 64% in the Bengaluru-based company, other investors in the firm also participated in the funding round.

Data analytics firm Tredence picks up $175 million Series B funding: San Jose-based data analytics company Tredence on Friday said it has raised $175 million in Series B funding from Boston-based private equity giant Advent International. While the full financial terms of the deal were not disclosed, Advent will acquire a minority stake in Tredence, the company said in a statement. Founder and CEO Shub Bhowmick told ET that the deal values Tredence at about $500 million.

BetterPlace raises $40 million via convertible notes: Workforce management software provider BetterPlace said it has raised $40 million through convertible notes in an ongoing funding round. New investors Macquarie Capital and Site Capital Partners have participated and infused funds as a part of the latest tranche, people aware of the deal told ET. The company’s existing investors, including Jungle Ventures and British International Investment, have also participated in the ongoing round.

Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Aquaconnect raises $15 million in Series A funding round: Full-stack aquaculture platform Aquaconnect has raised $15 million (Rs 120 crore) in a Series A funding round led by Lok Capital, with participation from Louis Dreyfus Company Ventures and Suneight Investment , and existing investors including Omnivore, Rebright Partners, Flourish Ventures, Hatch and other debt investors. Edtech startup Collegedekho gets $9 million from Winter Capital: Collegedekho has said it raised $9 million (about Rs 74. 55 crore) from existing investor Winter Capital Partners .

The startup offers a college admissions and higher education services platform. Agritech startup Eggoz raises $8. 8 million: Egg-focused consumer brand Eggoz said it has raised $8.

8 million (Rs 66 crore) in Series B funding led by Mumbai-based IvyCap Ventures. The brand sells premium eggs online and offline through organised trade channels. The funding round – a mix of primary investment and secondary share sale – also saw participation from existing investors Nabventures, a venture capital fund anchored by National Bank for Agriculture and Rural Development, Avaana Capital, and Rebright Partners.

Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Friday, 23 Dec, 2022 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics ET Markets Around the World More Rel Retail to Pick up Metro’s India Biz for ₹2,850 Crore Reliance Retail Ventures, a subsidiary of Reliance Industries and the holding company of the group’s retail businesses, signed definitive agreements to acquire German wholesaler Metro AG’s India business — Metro Cash & Carry India—for a total cash consideration of ₹2,850 crore. FMCG Rural Demand Shows Signs of Green Shoots after 2 Years Rural demand for packaged fast-moving consumer goods (FMCG) has begun showing signs of revival after nearly two years of slowdown, companies said.

Advent Closes in on Suven Pharma Buyout Advent International has emerged as the frontrunner to buy Hyderabad-based Suven Pharmaceuticals, a listed contract research and manufacturing services (CRAMS) company, edging past Blackstone in a keenly contested race, said people aware of the matter. Read More News on startup funding tech winter capital partners suneight investment site capital partners Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

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