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In India, it could be a financing fall, not a winter, with active funds still closing big deals

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  • The number of unicorns in india according to Hurun report will increase from 122 to 200 in the next four years.
  • India also saw 28.6% growth in financing value over the same period compared to other countries such as the UK, US and China.
  • Here are some top deals, funds that were sealed in the month of June.

In the midst of the financing winter, India managed to create at least 14 unicorns this year – more than last year. According to a Hurun report, this number will increase from 122 to 200 in the next four years.

Looks like the prophecy as Indian could come true startups has raised $12.1 billion through April — through 672 venture capital deals amid cost cuts and layoffs, according to a GlobalData report.

India also saw 28.6% growth in funding value over the same period compared to other countries such as the UK, US and China, the report said.

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Similar growth was seen in May this year as well. A recent
report by IVCA-EY said private equity and venture capital investments were $5.3 billion in May 2022, up 42% from May 2021 — though the startup fund took a 12% hit in the month.

But there is no shortage of mergers, acquisitions and buyouts, stock sales and more. Here are some top deals, funds that were sealed in the month of June.

1.
lens card acquires majority stake in Japanese eyewear Owndays

Glasses Unicorn Lenskart announced on June 30 that it has acquired a majority stake in Japanese eyewear company Owndays for a whopping $400 million.

This move will help the company reach 13 more markets in Asia, including Singapore, Thailand, Taiwan, the Philippines, Indonesia, Malaysia and Japan.

Lenskart will also expand its engineering team from 300 to 500.

2.
Infosys invests up to $10 million in US The House Fund

Infosys has signed an agreement with US-based The House Fund III, a venture capital firm to invest up to $10 million. The Indian technology giant will have a minority stake in the fund that does not exceed 20% of the fund size.

The House Fund is a pre-seed and early-stage venture capital fund based in California, USA, that invests in AI-focused startups from the UCB ecosystem.

3.
TVS motor is all set to raise $300 million in funding from top PE players

Private equity giants KKR and TPG Capital are in talks with TVS Motor to invest at least $300 million. The funding will be used by the company to expand its presence in the electric vehicle market.

TVS Motor can raise the money in September by selling 20-25% of TVS Electric Mobility, according to
sources

4.
Amazon and flip card rival raised $70 million from several Indian venture capitalists

Retail tech company Arzooo — which helps small retailers compete with Amazon and Flipkart — has announced it has raised a whopping $70 million from Japan-based SBI Investment, Trifecta Leaders Fund, and others.

The round witnessed the participation of several global and Indian VCs such as Celesta Capital and 3 Lines VC, who previously contributed capital in Arzooo’s Series A round.

5.
Google invested in Indian fintech startup Progcap

Indian fintech startup targeting small and medium-sized businesses has raised $40 million in Series C funding round led by tech giant Google, Creation Investments and Tiger Global.

Existing investors Sequoia India and Southeast Asia also participated in the funding round.

6.
Baring-backed startup Matter raises $10M

Electric vehicle maker Matter, backed by equity investor Baring PE, raised $10 million in its first round of financing Info Edge‘s Capital 2B Fund 1, Climate Angel Fund and other Indian and foreign high net worth individuals.

The company plans to launch its first electric motorcycle later this year. The new funds will be used to launch its new vehicle and energy storage products.

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