Ecosystem Weekly | 29th May’22

Ecosystem Ventures This Week

Key Highlights – Portfolio Company

We are delighted to share that one of our portfolio ed-tech companies SpeEdLabs, has closed their pre-series round at total funding amounting to ~$2.5 million with participation from 35 North – India Discovery Fund, Mumbai Angels, LetsVenture, Ecosystem Ventures, Ah Ventures, SucSeed Ventures and family offices. Read more

Welcome – Smit Jain

We welcome Mr. Smit Jain as a Management Trainee at Ecosystem Ventures. He has done articleship from Nagori Nawal & Co., Chartered Accountants and has completed certifications in Financial Modeling & Investment Banking from Indore.

He is a B.Com graduate from DAVV and a MBA from Acropolis Faculty of Management & Research, Indore.

Startup Funding Summary

BluSmart, a Gurugram-based electric ride-hailing platform, has raised $25 Mn in an extended Series A funding from BP Ventures, Green Frontier Capital, Stride Ventures, Alteria Capital, BlackSoil, UCIC and existing investors  – Read More

1K Kirana, a Gurugram-based hyperlocal omnichannel shopping and distribution network, has raised $25 million in Series B funding from Alpha Wave Ventures, Info Edge Ventures and Kae Capital  – Read More

Three Wheels United, a Bengaluru-based fintech startup, has raised $10 Mn in Series A funding from Delta Corp Holdings, Techstars, and Grip Invest  – Read More

NAKAD, a New-Delhi-based supply-chain focused fintech startup, has raised $7 Mn in Seed funding from Accel, Matrix Partners India, AdvantEdge Founders, Harshil Mathur, Shashank Kumar and other HNIs  – Read More

ShopSe, a Mumbai-based fintech platform, has rasied $6 Mn in Series A funding from BEENEXT, Chiratae Ventures and White Venture Capital – Read More

M&A Snippets

US-based manufacturing firm Southco has acquired Pune-based manufacturing company Darshana Industries for $50 Mn – Read More

US-based conglomerate firm Swan Energy has acquired India-based petrochemicals and petroleum products manufacturer Veritas for $23 Mn – Read More

Hyderabad-based edtech startup Infinity Learn has acquired Bengaluru-based cognitive development startup WizKlub for $10 Mn – Read More