Greenoaks, Elevation lead $12.5m funding in Turnip and 21 other India deals

Online gaming community platform Turnip Thursday announced that it has raised $12.5 million in its Series A funding round co-led by Greenoaks and Elevation Capital.

The round also saw the participation of SEA Capital, Vibe Capital, and leading founders and angels, including Andrew Chen (Partner, a16z), Harshil & Shashank (Razorpay), Akshay Kothari (Notion), Geige Vandentop (Streamyard), Vidit & Sanjeev (Meesho), Gaurav & Roman (Unacademy), Lalit, Ishan & Harsh (Groww), Kalyan (Flipkart), and Sujeet (Udaan).

Elevation Capital had also led the seed round of $1.6 million in the Bengaluru-based startup last year, with participation from Better Capital.

In a statement, the company said it will use the fresh funds to scale its presence across geographies as it aims to become the top gaming community platform in India, SEA, and LATAM by the end of 2022. It will also continue to strengthen its team and onboard the tech, design, and growth leaders worldwide.

Founded in April 2020 by IIT-Guwahati alums, Pooja Dubey and Aditya
Sharma, Turnip allows creators to form clubs, where they can stream or record their games for fans, talk on audio/video, text each other, run esports tournaments, and host masterclasses. The platform supports a diversity of creators, including live streamers, montage creators, esports organizations, college clubs, and groups of friends.

Turnip also allows its users to stream and monetize their interactive experiences on existing platforms like YouTube, Facebook, and Twitch. The company claims to have grown its user base from 250,000 users in November 2020 to more than 5 million users in 2021.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced between January 10 and 13, 2022.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
TurnipBengaluru12.5 millionSeries AGreenoaks, Elevation CapitalSEA Capital, Vibe Capital, Andrew Chen Harshil & Shashank, Akshay Kothari, Geige Vandentop, Vidit & Sanjeev, Gaurav & Roman (Unacademy), Lalit, Ishan & Harsh (Groww), Kalyan (Flipkart), Sujeet (Udaan)Travel & LeisureeSports
Kaleidofin Chennai10 millionSeries BMichael & Susan Dell FoundationOiko Credit, Flourish Ventures, Omidyar Network, Blume Ventures, Bharat FundFinancial ServicesDigibank
TrayaMumbai2.2 millionPre-Series AFireside VenturesKae Capital, Whiteboard CapitalHealthcare SpecialistFitness & Wellness
Wiz FreightChennai2.7 millionDebtStride Ventures-Logistics/DistributionRidesharing/Transport
ORAI RoboticsBengaluru878,378Pre-Series AInflection Point Ventures-SoftwareAI and Machine Learning
RooterDelhi25 millionSeries ALightbox, March Gaming, Duane Park Ventures9Unicorns, ADvantage Sports Tech Fund, Capital-A, Goal Ventures, IeAD Sports & Health Tech PartnersInterneteSports
RecykalHyderabad22 million-Morgan Stanley IndiaCirculate Capital, Vellayan Subbiah, Arun VenkatachalamEnvironmental ServicesCleanTech
CurefoodsBengaluru62 million--Iron Pillar, Chiratae Ventures, Sixteenth Street Capital, Accel Partners, Binny Bansal, Alteria Capital, BlackSoil Capital, Trifecta CapitalFoodFoodTech
RefyneBengaluru82 millionSeries BTiger Global ManagementQED Investors, partners of DST Global, Jigsaw VC, XYZ Capital, RTP Global, Digital HorizonFinancial ServicesFintech
Arthan FinanceMumbai2.5 millionSeedMichael & Susan Dell FoundationSunil Gulati, Ajit RanadeFinancial ServicesFintech Lending
DMI FinanceDelhi47 million-Sumitomo Mitsui Trust Bank Limited, New Investment Solutions, NXC Corporation-Financial ServicesFintech Lending
RupeekBengaluru34 million-Lightbox-Financial ServicesFintech Lending
FreadomGurugram2.5 million-Capital ATiger Shroff, Ashneer Grover, Lalit Agarwal, Aakash Moondhara Education/TrainingEdTech
muvinBengaluru3 millionPre-Series AWaterBridge VenturesAlteria Capital, Krishna BhupalFinancial ServicesDigibank
PraanMumbai1.56 million-Social Impact CapitalBetter Capital, Paradigm Shift Capital, Avaana Capital, Quality of Life Investments Texas, Dr Maulik Majmudar, Surya Panditi, Dr. Ritesh Malik, Akshay Singhal, Mehul Shah, Ashwin Kandoi, Dhruv ChitgopekarElectronicsCleanTech
ToolJetBengaluru1.5 millionSeedNexus Venture PartnersRatio ventures, Better capital, Alan Rutledge, Rohan Murty, Sony Joy, Vipul Amler, Mohammed Hisamuddin, Abhi KumarSoftwareSaaS
IppoPayChennai2.1 millionSeedCoinbase Ventures, Better Capital, Blume Founders FundMadhu R, Prabhu R, Kumar S, Archana Priyadarshini, Sailesh Ramanakrishnan, Kuberan MFinancial ServicesFintech
TradeXGurugram1 millionSeedTDV Partners, SoMa Capital, Maninder Gulati, Anupam Mittal, Rajesh Shawney, Hitesh Chawla, Cem Garih, Justin Mateen, Fethi-Information ServicesFintech
CribGurugram400,000Pre-SeedPranay Gupta (91Ventures)BlackSoil Capital, Shashwat Nakrani, Jasminder Singh Gulati, Ajay Yadav, Sarath Sura, Abdul Paravengal, Rahul Jindal, Uday Arya, Anirudh Bagai, angel investors from the Faad Network. SoftwareSaaS
GlamplusBengaluru700,000Pre-Series ABlume Ventures, Ramakant Sharma Inflection Point Ventures (IPV)SoftwareBeauty & Hygiene
OneDiosNoida1.2 million-Indian Angel Network (IAN), LetsVenture, Bhanu Chopra, Akash Bhansali, the Haldiram Group-Consumer ServicesE-commerce
Bliv.Club--Pre-Seed Sandeep Nailwal-Financial ServicesBlockchain

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.