Deal Roundup: Tech startup dealmaking picks up pace buoyed by $150 mn raise at Postman

Fundraising activity in the Indian technology startup ecosystem rallied to the second-highest weekly estimate, both in terms of the number of deals and value, since the Covid-19 pandemic shook the country.

The 126% rise in total deal size, versus a week ago, was majorly boosted by a $150 million round at application programming interface (API) testing and development platform Postman, which claimed a $2 billion post-money valuation following the infusion.

The week witnessed 17 deals of which nine raised a total of $200 million. The financial details of the others were not disclosed. On a sectoral analysis, the deals spread across a vast set of industries -- ecommerce, device repair solutions, foodtech, lifestyle, agritech, mobility, human resources, mediatech, Mediatech, healthtech, fintech, social media and gaming.

On a stage-based analysis of the investments, Series C and seed funding rounds led the pack, with four deals in each. 

Read: Lockdown spurs angel investor platform Mumbai Angels to accelerate dealmaking

Top Funding 

Postman: The API testing and development platform’s parent operator, Postdot Technologies, raised $150 million in a Series C funding round led by New York based private equity firm Insight Partners, thus reaching a $2 billion valuation.

JIFFY.ai: The enterprise automation company raised $18 million in Series A funding round led by Nexus Venture Partners, to scale its product roadmap and expand team.

Servify: The after-sales services platform for electronic devices’ parent operator, Service Lee Technologies, raised $11.4 million in a Series C round led by venture capital firm Iron Pillar.

HealthPlix Technologies: The artificial intelligence-based medical records company raised $6 million in a Series B funding round led by new investor JSW Ventures, the venture capital arm of Sajjan Jindal‎-led JSW Group.

WayCool: The business-to-business (B2B) omnichannel fresh produce distributor raised $5.5 million in debt financing from IndusInd Bank.

Yolobus: The intercity bus service provider raised $3.3 million in its Series A round of funding led by Nexus Venture Partners.

Rentomojo: The online furniture rental platform’s parent operator, Edunetwork, raised $2.97 million in an ongoing Series C round from Pratithi Investment Trust and others.

Halaplay Technologies: Gaming and sports media company Nazara Technologies has picked up stocks worth $1.92 million in a swap from Kae Capital to become the majority stakeholder in fantasy sports platform Halaplay Technologies.

Hapramp Studio: The new-age social media platform provider raised $1 million from Mahindra Group chairman Anand Mahindra, in a seed stage investment.

M&A

Cardpay Technologies: Publicly-listed Infibeam Avenues, which operates payment gateway firm CCAvenue, acquired Cardpay Technologies for $1.06 million. Cardpay provides a unified spend management platform to corporates under the brand name GRIT.

Venture Capital Funds

Arkam Ventures: Early stage venture capital firm Arkam Ventures announced the first close of its debut fund that has a corpus target of $92.5 million. Previously known as Unitary Helion, it has received commitments worth $43 million for the first close.