India Deal Monitor: Better Capital invests in neobank Walrus and more updates

Bengaluru-based neobank Walrus on Wednesday said it has raised an undisclosed amount in a pre-seed funding round led by Better Capital, an early backer of neobanks in India that has also invested in Open, Khatabook, Jupiter, Yelo, and Slice.

The round also saw the participation of angel investors, including Raveen Sastry (Co-founder, Myntra), Raghunandan G (Ex-Founder and CEO of TaxiForSure), and Brijesh Thakkar among others, it said in a statement.

The startup said it plans to utilise the funding to expand its team and enhance product features.

Founded in 2019 by Bhagaban Behera, Sriharsha Setty (CTO), and Nakul Kelkar (COO), Walrus is a digital-only banking platform for teenagers aged 13 and upwards. Its services can, however, be used by anyone up to the age of 22. The platform claims to provide them a secure and ‘Gen Z-like’ banking solution that helps them to manage their money smartly.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India between July 12 and July 15, 2020.

Expand Table

StartupInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
Walrus-Pre-SeedBetter CapitalRaveen Sastry, Raghunandan G, Brijesh ThakkarFinancial ServicesDigibank
PumPumPum292,800SeedFastfox.com, co-founder, Pallav PandeyRitesh Malik, Shobhit Shukla, Rahul AgarwalAutomobiles Other Vehicles & PartsRidesharing /Transport
Procol3.8 millionSeedSequoia Capital' SurgeBeenext, Blume VenturesSoftwareAgtech
Mastree5 millionEquityUnacademy-Education/TrainingEdtech
Yumlane1 millionPre-Series AJetty Ventures-FoodFoodtech
GigIndia970,744Pre-Series AIncubate Fund IndiaBeyond Next Ventures, S Ramadorai, Kiran Deshpande, Ravi Nigam, Shashank Deshpande, Sakshi Gudwani, Dr Pratap, Shantanu DeshpandeInternetHR tech
goDutch1.7 million SeedMatrix Partners IndiaY Combinator, Global Founders Capital, Soma Capital, VentureSouq, Justin Mateen, Kevin Lin, Rohan Angrish, Sumon SadhuFinancial ServicesFintech
IncNut Digital4 millionSeries ARPSG Ventures-InternetDigital Media
Mystifly3.3 millionPre-Series BRecruit Holdings Co. Ltd.-InternetTravel-tech
FLYX200,000Pre-SeedRaj Mishra, Chairman and Founder, AIT Global Inc.-MediaSocial Media
Plum Benefits927,994SeedIncubate FundGemba Capital, Tracxn Labs, Abhijit Gupta, Ram Sahasranam, Sudheendra Chilappagari, Nitin Jayakrishnan, Alvin TseInsuranceInsurtech
Magicpin3 millionSeries CSamsung Venture Investment Corporation-InternetE-commerce
ParkSmart199,468ah! VenturesMarwari AngelsInformation ServiceInternet of Things
Openapp500,000-Unicorn India Ventures-IT Security/CybersecurityInternet of Things

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.