Deal Street: E-Learning Firm Unacademy Raises $21 Million From Sequoia Capital, Nexus
Your weekly dose of startup deals.
Five Indian startups raised around $58 million (around Rs 394 crore) in angel, seed or venture capital funding last week across sectors such as education, travel, lending among others.
Startups in the education sector led the funding pack.
Unacademy Raises $21 Million From Sequoia, SAIF, Nexus
Online learning platform Unacademy raised $21 million (around Rs 144 crore) from existing investors Sequoia Capital, Nexus Venture Partners and SAIF Partners. Early-stage venture capital firm Blume Ventures also participated in the funding round, the company said in a statement.
The latest round takes the total capital raised by the Bengaluru-based startup, which provides free video content for various entrance examinations, to $38.6 million.
The funds will be used to bring new teachers on board, and strengthen its core product and technology teams, the startup said, adding that a part of investment will also go to expand add new categories such as pre-medical, engineering and management entrance exams.
The company, which competes with the likes of Udacity, Edureka and Byju’s, had last raised $11.5 million (Rs 73 crore) in a Series B round led by Sequoia Capital India and SAIF Partners in September last year.
Nexus, Version One Invest In Travel Marketplace Headout
Headout, a marketplace for local experiences for travelers, raised $10 million in a fresh round of funding from existing investors Nexus Venture Partners and Version One Ventures.
The startup will invest the capital to digitise its inventory and data systems and standardise last-minute experiences, it said in statement. It will also launch its flagship branded experiences platform across several markets this year, the statement added.
Founded in 2015, Headout connects travelers with locals who offer curated experiences in their neighborhood via an app. It currently serves 15 cities across three continents, including Paris, New York, and Singapore. It now plans to expand to 100 cities across North America, Europe and Asia-Pacific, over the next 18 months. It has offices in Bangalore, New York, London, Dubai, and Berlin.
The app is available for download on the App Store and Google Play and has partnerships with the likes of Google Trips, Wall Street Journal, Handy, and other lifestyle brands.
Online Marketplace Shop101 Raises $5 Million
Shop101, an online marketplace for sellers, raised $5 million (Rs 34 crore) in a growth funding round led by Stellaris Venture Partners.
Vy Capital, TaxiForSure’s co-Founder Raghunandan G, and Livspace’s co-Founder Ramakant Sharma also participated in the round, the Mumbai-based company said in a statement. It will use the capital to strengthen its core leadership and product teams, scale its supplier network, and enhance its technology platform.
The three-year-old firm helps small merchants and sellers showcase their products online by helping them create a mobile storefront. The users can also sell their products on popular social media networks such as WhatsApp, Facebook, Instagram, and other social channels. Besides, it also provides last-mile logistics through its tie-ups with third-party logistics players.
Consumer lending startup, IndiaLends, raised $10 million in a Series B round led by APCI Investment Managers and Indian venture capital firm Ganesh Ventures, the company said in a statement.
Online investment platform Groww raised $1.6 million (around Rs 10.9 crore ) in a fresh round from Insignia Venture Partners, America’s Lightbridge Partners and Kairos fund, the company said in a statement.