Ecosystem Weekly | 31st Oct’21

Acko turns unicorn with $1.1B valuation after raising $255M in a round led by General Atlantic and Multiples
Insurtech startup ACKO Insurance, founded five years ago, is the latest to join the unicorn club after raising $255 million in Series D round, which has valued the company at $1.1 billion.
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Investment platform Groww raises $251M in Series E led by Iconiq Growth
“Online trading platform Groww on Monday announced that it had raised $ 251 million at a valuation of $3 billion, led by Iconiq Growth., Alkeon, Lone Pine Capital and Steadfast, Sequoia Capital, Ribbit Capital, YC Continuity, Tiger Global & Propel Venture Partners were also significant participants in the round.”
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Startup News Snippets

M&A News

Market Pulse

• Mumbai-based hyperlocal ecommerce platform LoveLocal has raised $18 million in Pre-Series B Funding from Vulcan Capital, Sebastian Siemiatkowski’s Flat Capital, Alumni Ventures Group and Commerce Ventures
• Bengaluru-based technology-led NBFC startup Avanti Finance has raised $15 million in Series A2 Funding from Oikocredit, Nomura, The Bill & Melinda Gates Foundation and Dr K R Shroff Foundation
• Chennai-based legaltech startup Vakilsearch has raised $10 million in Funding from InCorp India and Kalaari Capital
• Indore-based full-stack agri-tech platform Gramophone has raised $10 million in Funding from Z3Partners, Info Edge, Asha Impact, Siana Capital, Amit Sharma, Sumeet Kanwar and Havmor Group
• Bangalore-based AI-powered startup Instoried has raised $8 million in Funding from Pritt Investment Partners and 9Unicorns.