BCCL invests $13.3m in MobiKwik’s pre-IPO round and 11 India deal updates

Digital payments solutions startup MobiKwik has raised about $13.3 million (Rs 100 crore) in funding from Bennett Coleman and Company Limited (BCCL) ahead of its planned initial public offering (IPO), Inc42 reported.

As part of the transaction, MobiKwik has issued 8,83,159 equity shares to Bennett Coleman and Company Limited, the parent company of Times Group. Post the latest infusion, Bennett Coleman and Company Limited will hold 2.63% on a fully diluted basis, the report said.

MobiKwik’s IPO offer includes an issue of fresh shares worth Rs1,500 crore and secondary shares worth Rs400 crore. While Rs 100 crore has been already raised in the latest round, MobiKwik may raise the remaining Rs300 crore from investors in the coming days.

MobiKwik had received approval for its IPO from SEBI on October 9.

The Gurugram-based company became the 32nd Indian unicorn in 2021 after concluding a secondary transaction at $1 billion valuation, per an earlier Mint report.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India announced from December 28, 2021-January 2, 2022.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
MobiKwikGurugram13.3 million-Bennett Coleman and Company Limited-Financial ServicesFintech
SecureNowGurugram6 million-Apis Insurtech Fund I, Charan Singh-InsuranceInsuretech
ZetwerkBengaluru210 millionSeries FGreenoaks CapitalICONIQ Strategic Partners, D1 Capital Partners, Steadview Capital Mauritius, Avenir Zetwerk Investors, Lightspeed Venture PartnersIndustrial MachineryN/A
MamaearthGurugram52 millionSeries FSequoia GlobalBelgian Sofina Ventures SA, EvolvenceConsumer ProductsE-commerce
GlobalBeesDelhi111.5 millionSeries BPremji InvestSteadview Capital, SoftBankRetailE-commerce
FPL Technologies (OneCard)Pune76 millionSeries CQED Fund, Ocean View InvestmentSequoia Capital India, Matrix Partners India, Hummingbird VenturesFinancial ServicesFintech
Hakuna Matata SolutionsChennai1 million-Hardcastle Petrofer-IT InfrastructureInfrrastructure
BummerAhemdabad100,422-Aman Gupta, Namita Thapar-RetailE-commerce
Karkinos HealthcareMumbai--Reliance Digital Health-Healthcare SpecialistHealthTech
BangDB (IQLECT)Bengaluru-BridgeTEN Innovate-SoftwareBig Data
Neemli LifestyleMumbai--G.O.A.T Brand Labs -Consumer ProductsE-commerce
Tango EyeChennai666,667-Lenskart-SoftwareSaaS

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.