After weeks of muted funding activity, the deal street was finally abuzz with investments.
The week gone by saw eight startups raising $85 million in from angel investors and venture capitalists across sectors, including financial technology, food, logistics, education and travel, 75 percent higher than the amount reported in the prior week.
The week prior had seen the same number of companies raising just $10 million.
Financial technology ventures mopped up the bulk of the funding…
Mumbai-based online insurance startup Acko General Insurance raised $30 million (Rs 195 crore) in seed funding from a clutch of investors, including SAIF Partners and Accel Partners. Infosys co-founders NR Narayana Murthy, through family office Catamaran Ventures, and Kris Gopalakrishnan, through Pratithi Investment Trust, including others also participated in the round, the company said in a statement.
Acko General Insurance which was founded in August last year recently got an in-principle regulatory clearance to launch a general insurance business in India. The firm said it will deploy the capital largely around building technology, especially in data analytics, and in distribution.
“Consumers need to be given more innovative product choices, at a price point that is ‘designed’ for them and at an unparalleled convenience and service levels,” said Vivek Mathur, managing director at venture capital firm SAIF Partners.
Gurugram-based Logistics startup Delhivery raised $30 million (Rs 200 crore) from China’s Fosun International as part of a larger funding around, according to a press statement. This additional investment is an extension of the $100 million funding the company raised in March from The Carlyle Group.
The round values the company at $650 million, according to a report in Economic times.
Fosun’s investment takes the total amount Delhivery has raised in the round to $130 million, also making it the largest funding round…