ETtech Deals Digest: PolicyBazaar rejigs cap table, Cashify bags $15 mn

While plenty of corporations have been in talks to lift recent funding within the final 5 days, the week witnessed smaller rounds in comparison with the earlier week.

PolicyBazaar rejigs cap desk

Online insurance coverage aggregator PolicyBazaar
executed yet another secondary share sale price about $45 million, wherein personal fairness agency True North and a few angel and particular person traders bought their stakes. The transaction values the corporate at about $2.4 billion.

Bay Capital, IIFL Wealth, White Oak Global Advisors and Cyrus Poonawalla Group are among the many incoming traders in PolicyBazaar’s guardian entity ETechAces Marketing and Consulting, which additionally operates on-line lending market PaisaBazaar.

PocketPills will get $30 million funding

Online pharmacy PocketPills, which caters to customers within the Canadian market,
received $30 million in a Series B funding round led by Telus Ventures, with participation from Water Bridge Ventures. The deal values the corporate at $150 million, an individual with information of the matter informed ET. PocketPills is anticipated to make use of the funds to broaden its product choices and speed up its enlargement plans in Canada.

Cashify bags $15 million

Cashify
picked up $15 million in a Series D funding spherical from personal fairness Olympus Capital’s clear power and sustainability arm, Asia Environmental Partners. Including this, the net reseller has raised a complete of $40 million to date. The Gurugram-based startup final raised funds in 2018 from Chinese funds—CDH Investments, Morningside and Aihuishou.

The bulk of Cashify’s enterprise is buying and selling in previous or used cellphones, but it surely additionally makes prompt money funds for laptops and smartwatches. The firm plans to utilise the funds for advertising and increasing its offline footprint by including round 90 shops to its present 60 by mid-2022. It plans to take action by means of a franchise mannequin in metro in addition to Tier II cities.

Apna.co lands $12.5 million


Apna.co, an expert networking platform for blue and gray collar staff,
landed $12.5 million led by Sequoia Capital India and Greenoaks Capital. Existing traders, Lightspeed India and Rocketship.vc, additionally participated within the spherical.

With the newest funding, the corporate has raised $20 million within the final six months. Currently current in seven cities, the startup plans to utilise the funds to develop into eight extra cities this yr and strengthen its presence within the present ones.

Symbo Platform closes $9.4 million funding spherical

Insurtech startup Symbo Platform Holdings
closed a $9.4 million funding round led by CreditEase Fintech Investment Fund and San Francisco-based funding agency Think Investments. The Singapore-headquartered firm additionally noticed participation from present traders, Integra Partners, Insignia Ventures and AJ Capital.

A big proportion of the funds has additionally been earmarked for funding into Symbo’s Indian affiliate. In India, Symbo is targeted on context-based, buyer need-oriented centered insurance coverage.

Other key offers of the week

■ E-commerce startup
DealShare has
raised Rs 25 crore in debt funding from Innoven Capital.

■
Outplay, a gross sales engagement platform focused at small and medium companies,
bagged $2 million in funding from Sequoia Capital India’s early-stage accelerator fund Surge.

■
IdeaForge, a homegrown unmanned aerial automobile (UAV) startup, has
landed Rs 15 crore in enterprise debt from BlackSoil.

■
Argoid, an AI-driven streaming media personalisation platform, has
raised $1.7 million in a seed funding spherical that was led by YourNest Capital.

■ Edtech platform
Questt has
picked up $1.35 million in a seed funding spherical led by Chiratae Ventures.

■ The
ePlane Company, a startup that’s making an attempt to construct flying electrical taxis to alleviate congestion in cities, has
received around $1 million in a seed funding spherical led by Speciale Invest and Indian American entrepreneur-investor Naval Ravikant.