#onlinedating | Startups funding picks pace after Covid disruption with USD 550 million funds raise in a week- The New Indian Express | #bumble | #tinder | #pof

By Express News Service

The startup ecosystem in India challenged with liquidity concerns due to COVID pandemic, is gradually attracting investments from overseas and homegrown funds. The startups have raised nearly $550 million this week with Edtech leading the funds raise arena followed by segments like house décor, food delivery and online dating. Even as the startup founders , homegrown investors are wary of Chinese funding amidst growing Sino- India tensions, China’s  AliBaba has reportedly put off its investment plans for India for the next six months after the Indian government modified the Foreign direct investment regulations for the border sharing countries.

However, despite the Chinese investments slowing down, the fundings have picked pace post July. Industry analysts say that although Japan, US will continue to invest heavily in India, a growing interest will be seen from countries like UAE, UK and other developed economies.

Japan’s tech investor, SoftBank Group made its re-entry in the Indian startup funding ecosystem by leading a $150 million funding round in edtech startup, Unacademy. Mumbai based Eruditus , which supports quality education for underserved population raised $113 million in a Series D funding round in which Facebook CEO Mark Zuckerberg and Priscilla Chan Zuckerberg’s initiative also participated.

Although edtech sector in India has raised more than $1 billion funding from investors during the pandemic, the funds are  now gradually eyeing startups in other sectors too. Home interior and renovation platform, Livspace announced earlier this week that they have raised $90 million  in a Series D round led by Kharis Capital and Venturi Partners, which will be used in expanding the footprints and to target profitability.

India’s leading online food delivery platform, Zomato’s reported $150 million funds raise from Alibaba’s Ant Financial hit the roadblock after the Chinese investor said in a stick exchange filing that it is evaluating its funding in the wake of changed regulations in India. However, Singapore ‘s investment firm, Temasek holdings has invested $ 62 million in Zomato as the startup embarks on a profitability model to launch its IPO.

Besides, audio streaming app , Gaana also raised$ 50 million in a round led by Chinese tech giant, Tencent.Dating app, Truly Madly , real estate investment platform-Strata and interior service provider, Homelane also raised  nearlty $50 millionfunding this week.


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