Cryptocurrency exchange CoinDCX closed an oversubscribed growth round at over $135 million. The Series D round valued the company at $2.15 billion, making it the most valuable crypto company in India.
The investment was led by Pantera and Steadview with participation from new investors Kingsway, DraperDragon, Republic, and Kindred.
Returning backers include B Capital Group, Coinbase, Polychain, and Cadenza. The crypto company said education, innovation and compliance remain key cornerstones of its strategy, and it will use the capital from this round to build on these strengths.
CoinDCX plans to start an Innovation Center to further Web3 and Blockchain adoption in India.
Also Read: CoinDCX becomes most valuable Indian crypto company at $2.15 bn
On Thursday, cricket NFT platform Rario bagged $120 million in its Series A funding round led by Dream Capital. Alpha Wave Global also participated in the round. Rario currently has the largest share of cricket NFT rights globally through exclusive partnerships with six international cricket leagues and a roster of 900+ cricketers.
The funding round will provide Rario access to 140 million users of Dream Capital.
Also Read: Cricket NFT platform Rario raises $120 million
Other major tech funding deals this week include education-focused fintech start-up Financepeer's $31 million raise led by QED Investors and Aavishkaar Capital; $46.8 million fundraise by software-as-a-service (SaaS)-based video editing platform Toch.ai', now rebranded as VideoVerse; and Recur Technologies' $30 million from funding round from InfoEdge, Incred.
The week also saw significant merger and acquisition deal flow.
E-commerce giant Amazon led the M&A pack with the acquisition of social commerce start-up GlowRoad.
The move is indicative of a large bet from the US e-tail behemoth to take on Meesho and Flipkart's Shopsy in the e-commerce reselling market.
Also Read: Amazon acquires social commerce firm GlowRoad to take on Meesho, Flipkart's Shopsy
GlowRoad is a social commerce network that allows the reselling of products to customers on various social media platforms. It was last valued at $75 million when it raised $7 million in 2020 with Accel Partners, Vertex Ventures and IND Money as lead investors.
Conversational messaging platform Gupshup continued its acquisition spree with the purchase of AskSid, a leading conversational AI provider to e-commerce and retail companies.
AskSid's full-stack AI solution including the Retail AI brain, is expected to strengthen Gupshup's customer experience (CX) offerings and will help make the shopping processes across pre-purchase, purchase and post-purchase phases - fully conversational.
Also Read: Messaging platform Gupshup acquires conversational AI firm Active.Ai
Early this month, the company snapped up Active.Ai, a conversational AI platform for banks and fintech companies to boost its customer experience solutions for BFSI customers.
In February, the company acquired Singapore-based cloud telephony company, Knowlarity Communications.
On Friday, beauty e-commerce firm Nykaa announced investments in three companies -- Earth Rhythm, Nudge Wellness and KICA.
The company has acquired an 18.51 per cent stake in beauty brand Earth Rhythm for Rs 41.65 crore, a 60 per cent stake in dietary supplements company Nudge Wellness for Rs 3.6 crore, and acquired athleisure brand KICA for Rs 4.51 crore.
Also Read: Nykaa acquires stakes in diverse brands Earth Rhythm, Nudge Wellness and KICA