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ETtech Deals Digest: Swiggy acquires Dineout, Ather Energy, GoKwik, others raise funds this week


Electric scooter maker Ather Energy, digital payments firm Razorpay, ecommerce enablement company GoKwik were among the startups that raised funds this week.

Swiggy acquires restaurant booking platform Dineout

Online food-delivery app Swiggy has entered into a definitive agreement with Times Internet
to acquire restaurant tech and dining out platform, Dineout. After the acquisition Dineout will continue to operate as an independent app, Swiggy said in a statement on Friday. The acquisition, which is likely an all-stock deal, is expected to close over the next month.

Ather Energy raises $128 million led by Indian government’s sovereign fund,


Electric scooter maker
Ather Energy said it has raised $128 million led by National Investment and Infrastructure Fund (NIIF), the Indian government’s sovereign wealth fund, and existing investor Hero MotoCorp.Tarun Mehta, cofounder and chief executive officer (CEO) of Ather Energy, told ETtech that the funds will be used to expand its manufacturing facilities, invest in research and development and its charging infrastructure, and grow its retail network.

Deals DigestETtech

Illustration: Rahul Awasthi

Lightspeed, Moore Strategic Ventures invest in Razorpay’s $75 million secondary share sale

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Lightspeed Venture Partners and Moore Strategic Ventures
have picked up stakes in digital payments firm Razorpay as part of a $75 million secondary share sale, the company said. The secondary share sale has also seen Razorpay’s early angel investors divesting their stakes in the firm. Razorpay was valued at $7.5 billion in December last year after a $375 million funding round.

GoKwik raises $35 million in funding from Think Investments, Sequoia, others


Ecommerce enablement company
GoKwik has raised $35 million in a new funding round led by Think Investments and RTP Global. The round also saw participation from existing investors Sequoia Capital India and Matrix Partners India. The company raised $15 million as a part of its previous funding round in November 2021.

Vivriti Capital raises $30 million in funding from Capital


Vivriti Capital, a fast-growing mid-market lender,
has raised an additional $30 million from TVS Shriram Growth Fund 3, a home-grown private equity fund managed by TVS Capital. The funds will be allocated between Vivriti Capital and its subsidiary Vivriti Asset Management, which manages closed-ended debt funds investing in mid-sized corporates.

Mumbai-based D2C brand Skillmatics raises $16 million


Mumbai-based Skillmatics, a direct-to-consumer educational games and resource brand,
has raised $16 million in its latest funding round led by Sofina Ventures, with participation from existing investors Sequoia Capital India and Jalaj Dani Family Office.

B2B platform ApnaKlub raises $10 million funding led by Tiger Global


ApnaKlub, a business-to-business (B2B) wholesale platform for fast-moving consumer goods (FMCG),
raised $10 million in a funding round led by Tiger Global on Thursday. The startup plans to use the funds for its foray into the credit and supply-chain financing segment.

Other notable deals this week



Fanztar, a blockchain-based

NSE 1.27 % monetisation platform,
raised Rs 5 crore in a funding round led by India Quotient. Fanztar plans to use the funds to develop new products and expand its technological and commercial teams.

■ Fintech startup
BharatX has
raised $4.5 million in a funding round from Silicon Valley-based famed accelerator Y Combinator, 8i Ventures, Multiply Ventures and Soma Capital. The company plans to use the funds to expand its team and develop its product.

■ Alternative investments wealth tech platform
Bhive.fund
has raised funds from key investors, including Nikhil Kamath, cofounder of Zerodha. Kamath did not share the details of his investment. Bhive.fund plans to raise $1 million in a pre-Series A round to fuel its growth.

■ Ecommerce enablement startup,
Shopflo on Wednesday said that it
has raised $2.6 million as a part of its seed funding round led by Tiger Global and TQ Ventures. With this Shopflo becomes one of the only Indian startups at a pre-product stage, which has received seed funding from Tiger Global.

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