WestCap leads funding in Zupee and 13 more India deal updates

Cashgrail Pvt Ltd, which operates skill-based mobile gaming platform Zupee, has raised $10 million in a funding round led by US-based growth equity firm WestCap Group. Existing investor Matrix Partners India also took part in the round.

With the latest round, Zupee has raised a total of $19 million in funding so far.

Zupee plans to use the funding proceeds to expand market reach, scale its platform, enhance user penetration and experience, and strengthen its team.

Founded by IIT Kanpur graduates Dilsher Singh Malhi and Siddhant Saurabh in 2018, Zupee runs live quiz tournaments on its app where users compete with friends and other players for prizes.

INDIA DEAL MONITOR

Here are prominent venture capital transactions in India from January 10-12, 2021.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)IndustryVerticals
ZupeeGurugram10 million-WestCap GroupMatrix Partners IndiaTravel & LeisureeSports
BizongoMumbai9.3 millionSeries C-Accel, International Finance Corporation, IDG Ventures, Chiratae, Schroeder Adveq, CDC GroupPackagingE-commerce
Nao Spirits & BeveragesGoa2 millionSeries A--Food-
Biconomy Singapore1.5 millionSeedEden BlockFenbushi Capital, Binance, DACM, Outlier Ventures, Zee Prime Capital, Woodstock Capital, MiH Ventures, Meher Roy, James Simpson, Marwan Alzarouni SoftwareBlockchain
MonrowBengaluru--Venture CatalystsBlume Venture , LetsVenture, Angel ListRetailE-commerce
VComply California6 millionSeries ACounterpart Ventures, Accel-Software-
Karkhana.ioMumbai1.5 millionSeedVertex Ventures Southeast Asia & India-Industrial Machinery3D Printing
PurpleTutorMumbai300,000SeedIvyCap VenturesKrishna KumarEducation/TrainingEdTech
SiplyBengaluru1 millionSeedInflection Point Ventures-Financial ServicesFintech
True ElementsPune1.3 million-Maharashtra State Social Venture Fund (MSSVF)-FoodE-commerce
SamunnatiChennai12 millionDebtFMO, Triodos Fair Share Fund, Triodos Microfinance Funds-Financial ServicesFintech
SSA FinservMumbai3 millionEquityBlue Ashva Sampada Fund-Financial ServicesFintech Lending
TresMotoBengaluru-SeedRaaj Kumar-Automobiles Other Vehicles & PartsElectric/Hybrid Vehicles
La RenonAhemdabad30 millionEquityA91 Partners-PharmaceuticalsHealthTech

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.