sharechat: ETtech Deals Digest: Big Budget Funding Is Alive

Despite a general slowdown in major rounds, some startups are still attracting investor interest. ShareChat and AlphaSense were two startups that raised big rounds this week, while Infra.Market, Chaayos and others raised smaller amounts.

ShareChat pocketed $255 million from Google and Times Group

Indian-language social media platform ShareChat closed a $255 million funding round from Google and the Times Group at a $5 billion valuation – 35% more than in its last funding round, when she raised $266 from Temasek and others. The company’s short-form video platforms, Moj and MX TakaTak, serve 400 million users. It will use the funding to double its annualized revenue rate, which currently stands at $50 million.

AlphaSense has raised $225 million from global investors

Market intelligence and research platform AlphaSense has raised $225 million from Goldman Sachs and Viking Global Investors, doubling its valuation to $1.7 billion. The round also included a debt component from BlackRock. AlphaSense deploys artificial intelligence and natural language processing technology to extract insights from company filings, transcripts, news and trade journals to help professionals make informed decisions. Funds raised in the round will be used for growth.

Goat Brand Labs raised $50 million from new and existing investors

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E-commerce stacking company Goat Brand Labs has raised $50 million from Winter Capital, 9Unicorns, and Oxyzo, among others. The round also included existing investors Flipkart Ventures and Tiger Global. Goat has made 15 acquisitions since launching last year, with a focus on upcoming direct-to-consumer (D2C) brands.

Offers this weekETtech

Infra.Market has closed a $50 million funding round

B2B building materials marketplace Infra.Market raised $50 million in a funding round from Liquidty Group’s Mars Unicorn Fund. The startup, which was last valued at $2.5 billion, will use the capital raised to venture into new markets and expand its product catalog.

Chaayos raised $45 million

Chayyos closed a $45 million Series C round of Alpha Wave Ventures II at a valuation of $250 million. Existing backers Tiger Global, Elevation Capital and Think Investments also participated in the round. Founded in 2012 by Nitin Saluja and Raghav Verma, Chaayos runs a chain of tea cafes in New Delhi, NCR, Mumbai and Bengaluru. It currently has more than 150 outlets.

Groyyo got $40 million from Tiger Global

B2B manufacturing and supply chain enablement startup Groyyo has raised $40 million in a mix of equity and debt financing led by Tiger Global. The round also saw the participation of its first backer Alpha Wave Global. Groyyo provides services to SME manufacturers in the fashion and lifestyle category across Southeast Asia. The startup will deploy the funds to scale its team in India, Bangladesh, the United States, and the European Union.

FanClash has raised $40 million from Matic Networks and Sequoia

The fantastic esports platform FanClash has raised $40 million from Matic Networks (Polygon), Sequoia Capital and many other investors. Launched two years ago, FanClash is Asia’s largest fantasy esports platform with operations in India and the Philippines. He plans to use the new funds to expand further and build a fan data and engagement platform.

Other transactions concluded

■ Gullak, a Bengaluru-based savings and investment app, raised Rs 10 crore in a funding round led by Better Capital and Stellaris Venture Partners. The startup has also seen the participation of several angel investors. He plans to use the funds to expand his reach, as well as for marketing and product development.

■ Insurtech Pazcare platform raised $8.2m from Jafco Asia, Beenext and others at a $48m valuation. The company offers solutions for employee benefits and group health insurance needs. It will use the funds to improve its product line and for growth.

■ DAOlens, a business-to-business (B2B) Decentralized Autonomous Organization (DAO) service provider, raised $5 million (approximately Rs 39 crore) led by Nexus Venture Partners. The startup seeks to simplify how DAOs work by creating a suite of tools aimed at facilitating discovery, onboarding, and contribution processes between DAOs and their community members.

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