VCBay Weekly News Roundup – Discord acquires Ubiquity6, PharmEasy strikes a deal with Thyrocare

Welcome to VCBay Weekly News Roundup. Here are some important developments in the startup space and major funding rounds this week –

Cloud technology

1.  WiteSand made an appearance with a stealth seed round of USD 12.5 Million

San Jose-based WiteSand, a startup that brings enterprise networks to the cloud announced its launch while coming out of stealth with few major customers. It also raised USD 12.5 Million in a seed funding round from angel investors and institutions on 28th June 2021.

Healthcare

1. India-based healthcare startup PharmEasy to acquire a stake in Thyrocare for US$ 613M

India-based API Holdings, which operates the giant healthcare startup PharmEasy, announced on 25 June 2021 that it will acquire a 66.1% stake in Thyrocare, which runs a diagnostic lab chain, for about US$ 613 million. This is the first-ever acquisition of a publicly listed firm by a unicorn startup in India. This acquisition will allow PharmEasy to serve patients across their entire journey in treatment.

Logistics

1. India-based logistics startup GoBOLT raises US$ 20M in Series B round

India-based GoBOLT, a technology-led logistics startup focussed on providing End-to-End (E2E) logistics solutions announced on 28 June 2021 that it has raised US$ 20 million in a Series B round.

Gaming and Social Media

1. Discord acquires AR and Video chat startup Ubiquity6 for an undisclosed amount

Famous gaming chat app Discord, which operates as a voice, video and text communication service, acquired US-based augmented reality startup Ubiquity6 on 28 June 2021 for an undisclosed amount. The terms of the Discord acquisition weren’t disclosed. Ubiquity6 has been having some issues finding wide audiences for its products in recent months. It also abandoned most of the products that it was building over the years. Ubiquity6 had raised US$ 37.5 million from investors including Benchmark, First Round, Kleiner Perkins and Google’s Gradient Ventures. Its recent publicly disclosed funding was a US$ 27 million Series B in October of 2018.

Ecommerce

1. Indian e-commerce startup 10club obtains US $40M in one of the largest seed rounds in e-commerce

10club, a one-year-old Indian e-commerce marketplace aggregator developing a Thrasio-like model has raised US $40 million in one of the largest seed financing rounds in the South Asian market. Announced on June 29, 2021, the round was co-led by a prominent Indian investor in consumer and hardware tech, Fireside Ventures, and an undisclosed international investor. The round also featured participation from HeyDay, PDS International, Class 5 Global, Secocha Ventures, and founders of hardware startup boAt Sameer Mehta and Aman Gupta.

2. US-based E-commerce platform Shogun raises US$ 67.5M in Series C round

US-based Shogun, an E-commerce platform that helps brands create unique buying experiences and optimize their online stores, raised US$ 67.5M in Series C round on 30 June 2021. This Series C values Shogun at US$ 575 million. The funding round was led by Insight Partners, a new investor with participation from Initialized Capital, Accel and VMG Partners. Accel had led Shogun’s previous round of US$ 35 million in October 2020. The startup has to date raised over US$ 114.5 million.

Fintech

1. Fintech startup Slice raises $20 million from Gunosy and Blume Ventures at over $73.7 million evaluation

Bangalore-based Fintech startup Slice has acquired $20 million in investment funding from their present investors Gunosy and Blume Ventures at an undisclosed estimate. The credit card platform allows customers’ flexibility in handling credit card bills and reward points on transactions. In addition to this, the Slice has also launched two new features, which, the startup said, makes the slice super card the most suitable fashion for millennials and gen z to make payments.

2. New York-based online payment company Payoneer goes public after SPAC merger
   

Payoneer, a New York-based online payments provider, went public on the Nasdaq stock exchange on June 28, 2021, after closing a merger with a blank-check firm backed by FinTech entrepreneur Betsy Cohen. The listing came months after the FinTech unicorn announced its plan to merge with special-purpose acquisition company (SPAC) FTAC Olympus Acquisition Corp in a deal valued at approximately US $3.3 billion.

Edtech

1. US-based educational startup Age of Learning raises US$ 300M

US-based startup Age of Learning, which provides a comprehensive and engaging online curriculum for pre-kindergarten, kindergarten and early elementary school programs, raised US$ 300M in funding on 29 June 2021. The funding round was led by TPG with participation from Qatar Investment Authority (QIA) and Madrone Capital Partners.

Emobility

1. Bengaluru-based CredR raises $6.5 million in a funding round led by Yamaha Motors and Eight Road Ventures

Bengaluru-based startup CredR (aka Incredible Technologies Private Ltd), an omnichannel enterprise for used two-wheelers, has raised $6.5 million (INR 48.1 Cr) in a funding round driven by Yamaha Motors and existing investors Omidyar Network India and Eight Roads Ventures. The event also witnessed the participation of Astarc Ventures, an early-stage venture capital fund.

SaaS

1. US-based SaaS platform for real estate investors Entera raises US$ 32M

US-based Entera, a SaaS platform for single-family real estate investors, announced on June 30 that it has raised US$ 32 million in Series A funding round. The funding round was led by Goldman Sachs Asset Management with participation from existing investors including Bullpen Capital, Craft Ventures and Valuestream Ventures.

2. US-based Arcade raises US$ 4.5M in a Seed Round to expand its platform for Sales Teams

US, Dallas-based software company Arcade, which uses gamified micro-incentives to boost the productivity of sales teams, raised US$ 4.5 million in a seed funding round on 1 July 2021. The funding round was led by VC firm Stage 2 Capital with participation from Revolution’s Rise of the Rest Seed Fund, Our Innovation Fund and ATX Venture Partners.

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