(Graphic: Rahul Awasthi/ETtech)
Ed-tech leader Byju’s
raised around $460 million as part of its ongoing Series F round, led by MC Global Edtech Investment Holdings LP and participation from Facebook co-founder Eduardo Saverin’s B Capital, among other investors. The investment values the Bengaluru-based company at a little over $13 billion.
This is the first investment in Byju’s this year, after the company raised over $1 billion in 2020, fuelled by the Covid-19 pandemic which caused a surge in online learning. The company said it was able to acquire 20 million customers in the first four months of the pandemic. It took the company four years to acquire its first 40 million users.
On March 25, ET reported that Byju’s
was in talks to raise as much as $500-600 million from a group of investors including B Capital, which will likely be used to fund the acquisition of Aakash Educational Services, with the size of the deal pegged at $700-$800 million.
PE investors back Firstcry
A consortium of private equity investors – TPG, ChrysCapital and Premji Invest – has
invested around $315 million in Firstcry, valuing the omnichannel children’s retailer at around $1.9-$2.1 billion.
While the deal involves a $300 million secondary transaction, there is also a small primary component of about $13 million from Premji Invest, regulatory filings showed. ET was the
first to report about the impending transaction on January 8.
Who’s out? The early investors in the SoftBank-backed company, such as Elevation Capital (formerly SAIF Partners), Vertex Partners and MegaDelta Capital Advisors have sold their entire stakes as part of the latest transaction.
The company is eyeing a public market listing in 18-24 months.
Uniphore bags $140 million
Uniphore Technologies, a startup using artificial intelligence to improve an enterprises’ customer service calls, has
landed $140 million in Series D funding led by Palo Alto-based Sorenson Capital Partners, along with participation from new investors Serena Capital, Sanabil Investments and Cisco Investments.
The company’s existing backers March Capital Partners, National Grid Partners, Chiratae Ventures, Iron Pillar Fund and Sistema Capital also participated in the round.
Uniphore said it will use the money to further strengthen its position, and to extend its AI tools to the video calling market, for which it acquired Emotion Research Labs earlier this year.
Other key deals
- StashFin, a Singapore-based neobanking startup, has picked up $40 million in a Series B equity round led by a clutch of global investors including Altara Ventures and Uncorrelated Ventures.
- HealthPlix has secured $13.5 million in its ongoing Series B round, led by Lightspeed Venture Partners. Existing investors JSW Ventures, Kalaari Capital and Chiratae Ventures participated in the round.
- Mobile entertainment solutions provider OnMobile is leading a $13 million financing round in homegrown short video app Chingari in return for a 10% stake. Following the investment, OnMobile will integrate and distribute its D2C gaming platform, Onmo, on the Chingari app.
- DigiHealth Technologies, a subsidiary of a partnership firm owned by leading Indian pharmaceutical majors, has acquired market research firm AIOCD Pharmasofttech AWACS and B2B marketplace Pharmarack Technologies, as it looks to build the IT infrastructure and supply chain required for pharmaceutical distribution.
- E-commerce giant Amazon has bought Bengaluru-based Perpule for Rs 107.6 crore in an all-cash deal. This comes at a time when digitising small offline retailers is being seen as crucial for winning in India’s fast-growing online retail sector.
- Wipro said it will buy Australia-based cybersecurity and quality engineering services company Ampion for $117 million in an all-cash deal. The acquisition is part of Wipro CEO Thierry Delaporte’s strategy to go inorganic to add clients and local employees in key markets.
New fund close
New York-based investment firm Tiger Global has
raised its thirteenth global fund of $6.65 billion, its biggest corpus so far, at a time when it is doubling down on India taking bigger bets in the country across various sectors.