July 18 2022 - OneScore raised $102 million, Clinix got acquired by MediBuddy
Welcome back to India Tech Weekly Deals Roundup, a weekly podcast by Tracxn for key startup deals in India from last week.
In this edition, we will cover funding rounds of OneScore, LifeWell, Garuda Aerospace, and more. In exits, we will cover the acquisition of Clinix by MediBuddy among others.
Starting with our deep dive into funding rounds, tech companies in India raised over $362 million of funding across 27 funding rounds during this week.
In a major funding event, FinTech startup, OneScore, raised $102 million in a Series D funding round led by Temasek, with participation from QED Investors, Sequoia Capital, Hummingbird Ventures, and others. With this funding round, OneScore achieved unicorn status. It offers a credit score management platform that allows users to check for credit scores, credit card history and loan updates. It also offers tips and suggestions with personalized insights to improve the credit score. Founded in 2019 by IIT Delhi alumni and IIM Bangalore alumni, Pune-based, OneScore has raised $305 million till date.
Mohali-based, HealthTech startup, LifeWell, raised $80 million of funding led by Orbimed. LifeWell, provides an online platform that allows users to buy multiple healthcare products such as breast care products, Covid-19 essentials, pulse oximeters, general health products, home care products, non-contact infrared thermometers, and more. Founded in 2020, LifeWell, has raised $80 million till date.
Chennai-based, Maritime and Defense Tech startup, Garuda Aerospace, raised $30 million in a Series A funding round. Garuda Aerospace, designs and builds unmanned aerial vehicles, customizes drones for various applications like photography, agricultural survey, surveillance, and more. It also offers services in the areas of agriculture, crowd monitoring, defense and wildlife monitoring. Founded in 2015, Garuda Aerospace, has raised over $31 million till date.
Energy Tech startup, Detect Technologies, raised $28 million in a Series B funding round led by Prosus, with participation from Accel, Bharat Fund, Bluehill Capital, and others. Detect Technologies, provide solutions for pipeline integrity monitoring and inspection with AI-driven products that help in predictive maintenance of oil and gas pipeline leakages. It also offers an automated and continuous condition monitoring system for pipelines that can operate at extreme temperatures. Founded in 2016 by IIT Madras alumni, Chennai-based, Detect Technologies, has raised over $45 million till date.
Vegrow, Hyderabad-based, CropTech startup, raised $25 million in a Series B funding round led by Prosus, with participation from Ankur Capital, Matrix Partners India, Lightspeed Venture Partners, and others. It provides tech-enabled farming and personalized advisory services to farmers based on soil, water, weather, stage of the crop, and more. It also helps farmers in improving the utilization of farms through field intervention in horticulture crops. Founded in 2020 by IIT Madras alumni and IIT Kharagpur alumni, Vegrow has raised over $40 million till date.
Bangalore-based, HealthTech startup, Wysa, raised $20 million in a Series B funding round led by HealthQuad, with participation from Kae Capital, Pi Ventures, W Health Ventures, and others. It provides an AI-based chatbot for managing mental health and measures users emotions using cognitive-behavioral techniques. It also uses machine learning to understand the emotional state of the user and proactively reaches out to the user for help as and when required. Founded in 2015, Wysa, has raised over $30 million till date.
Life Sciences startup, String Bio, raised $20 million in a Series B funding round led by Woodside, with participation from Ankur Capital, Zenfold, Dare Venture Group, and others. String Bio, develops synthetic biotechnology solutions for waste carbon recycling and focuses on the production of high-value products, like feedstocks. It also produces high-performance polymers from industrial waste carbon, such as methane and CO2, using metabolically engineered bacteria. Founded in 2013, Bangalore-based, String Bio, has raised over $24 million till date.
Wheelocity, Chennai-based, E-Commerce startup, raised $12 million in a Series A funding round led by Lightspeed Venture Partners, and Anicut Capital. It provides a platform that offers technology-driven solutions for the commerce ecosystem to integrate with all touchpoints of the value chain. Wheelocity also offers fulfillment centers, proprietary network design, IoT-enabled operational frameworks, shared infrastructure models, last-mile delivery, and more. Founded in 2005 by IIT Madras alumni, Wheelocity, has raised $12 million till date.
This was all from the funding updates, moving on to the exits. India Tech observed 1 exit during the week of 17 Jul 2022.
Hyderabad-based, HealthTech startup, Clinix, was acquired by MediBuddy. Clinix provides a platform that enables users to book appointments and connect with doctors for consultation and medical advice via chat, audio, or video call. It also offers continuous chronic care from diabetologists, cardiologists, neurologists, pulmonologists, orthopedics, and oncologists. Clinix was founded in 2021 by BITS Pilani alumni.
This was all for today, we will be back next Monday with more updates. You can subscribe to our podcast on Google Podcasts, Spotify, and Apple Podcast to stay updated. If you have any feedback, please reachout to us at
podcast@tracxn.com [podcast@tracxn.com].Thank you for tuning in today, see you next week.
