February 6, 2024: Startup Funding Round up: The first week of February witnessed a flurry of funding activities across various sectors, showcasing investors’ confidence in startups’ growth prospects.
In a notable development, US-based investment firm Vanguard announced a significant reduction in the valuation of ride-hailing giant Ola to $1.88 billion. Meanwhile, Thyrocare, a leading player in the healthcare sector, expanded its services by acquiring Think Health Diagnostics, enabling it to offer ECG services at home and strengthen its foothold in preventive healthcare.
On the funding front, managed offices provider DevX secured a substantial $7 million in a funding round aimed at national and global expansion, along with the development of a proptech solution.
Meanwhile, healthtech startup Aarogya Tech raises $1.8 Million for its personalised home healthcare services. Concurrently, EV ride-hailing platform Snap-E Cabs raised $2.5 million to bolster its fleet and services across multiple cities, reflecting the growing demand for sustainable transportation solutions.
These startup funding developments underscore the ongoing momentum in startup funding, highlighting investors’ keen interest in supporting innovative ventures poised for growth and disruption in their respective industries.
From Aarogya Tech to Dev X – Top Startup Funding Deals in February 2024
- Vanguard’s Valuation Cut for Ola: US-based investment firm Vanguard has reportedly reduced ride-hailing giant Ola’s valuation to $1.88 billion, marking a significant decrease from its previous valuation.
- Thyrocare Expands with Think Health Diagnostics Acquisition: Thyrocare, a leading healthcare service provider, has acquired Chennai-based Think Health Diagnostics to offer ECG services at home, enhancing its reach in the preventive healthcare sector.
- DevX Secures $7 Million for Expansion: Managed offices provider DevX has raised $7 million in funding, aimed at expanding its national and global presence and developing a proptech solution for design and build services.
- Snap-E Cabs Raises $2.5 Million for EV Ride-Hailing: EV ride-hailing platform Snap-E Cabs has secured $2.5 million in a funding round led by Inflection Point Ventures, with plans to expand its fleet and services across multiple cities.
- Aarogya Tech Gains $1.8 Million in Seed Funding: Health-tech startup Aarogya Tech has raised $1.8 million in seed funding to accelerate product development and expand its personalized health management services.
- Merak Ventures Invests in B2B Commerce Platform Rupyz: Rupyz, an integrated SaaS platform for B2B commerce, has raised $1.2 million in seed funding from Merak Ventures to enhance its omni-channel distribution services.
- Papa Pawsome Secures $400,000 Seed Funding from IAN: Pet care brand Papa Pawsome has received $400,000 in seed funding led by the Indian Angel Network to scale operations and enhance its product offerings.
- Keus Smart Home Raises ₹100 Crores from OAKS Asset Management: Smart home automation company Keus Smart Home has raised ₹100 crores from OAKS Asset Management to expand its presence and develop new product offerings.
- SportVot Raises ₹9.4 Crore in Pre-Series A Round: Sports broadcast and talent discovery platform SportVot has raised ₹9.4 crore in a Pre-Series A round led by Omidyar Network India to enhance its technology and product offerings.
- Nium Receives RBI Licences for Prepaid Payment Instrument and Aggregator: Singapore-based payments company Nium has obtained in-principle approval from the Reserve Bank of India for prepaid payment instrument and payment aggregator licences, enabling it to offer a variety of financial products in India.
These startup funding deals signify the ongoing investment interest in various sectors, ranging from healthcare and technology to transportation and finance, highlighting the resilience and growth potential of startups amidst evolving market dynamics.