Deal Roundup: Freshworks, Toppr scoop up later stage capital

Deal Roundup: Freshworks, Toppr scoop up later stage capital
Photo Credit: 123RF.com
31 Jul, 2020

Early and later-stage investors put to work about $151 million this week across a total 11 deals, a 4% increase compared to the past week. Out of the 11, three did not disclose the financial details.

Investor interest focussed on startups in the software-as-a-services space, and travel and hospitality, with two deals in each, while startups in sectors of edtech, social commerce, gaming, healthtech, fintech and legaltech raised a deal each.

Leading the pack were customer helpdesk software provider Freshworks and artificial intelligence-based edtech startup Toppr.


Freshworks: The homegrown startup raised $85 million from alternative investment firm Steadview Capital in exchange of a minority stake. The deal reportedly saw the exit of some of Freshworks’ early angel investors.

Toppr: The edtech startup raised $46.7 million in a growth funding round, led by Foundation Holdings. Returning investors, including Kaizen Private Equity, also participated in the round.

Bulbul Shopping Network: The influencer driven online commerce app Bulbul Shopping Network was set to raise $8.7 million in a funding round led by Naukri parent Info Edge India’s venture arm, IE Venture Fund I.

Hevo Data: The data unification startup raised $8 million in a Series A funding round led by Singapore-based venture capital firm Qualgro, alongside returning investors Chiratae Ventures and Sequoia Capital India’s Surge, among others.

Treebo: The budget hotel chain raised $1.37 million from a clutch of angel investors as part of a fresh tranche of its ongoing growth funding round.

Firescore Interactive: The game developer studio raised $500,000 in a funding round led by Mumbai-based innovative games accelerator CrazyLabs.

Wellcure: The healthtech venture, founded by serial entrepreneur and Nearbuy.com founder Sumeet Kapur, raised $200,000 from Inflection Point Ventures.

Pickright Technologies: The marketplace for stock market investors and advisors raised $175,000 in a seed funding round from serial investor Sanjay Mehta-led venture capital firm 100X.VC and a group of angel investors.

Lawyered: The legal-tech startup raised an undisclosed amount in a bridge round of funding led by angel investors from the US, UK and Canada.

Datstop: The hospitality startup catering to young professionals and backpackers raised an undisclosed amount in an equity investment round from Zenga TV managing director and CTO Shabir Momin and Digital Democracy founder Saurabh Pathak.

Smart Software Testing Solutions: The software testing and products company Smart Software Testing Solutions (SSTS) with offices in India, raised an undisclosed investment from Aliso Viejo, California based digital transformation solutions provider UST Global.


Goalwise: Tencent backed fintech startup Niyo acquired the Alphafront Finserv-run mutual funds investment platform in a cash-and-stock deal. Financial terms were not disclosed.