startup funding news: ETtech Deals Digest: Loadshare, Headout, Jar raise funds

Logistics platform Loadshare, online experiences marketplace for travellers Headout were among the startups that raised funding this week.

Loadshare raises $40 million

Logistics platform Loadshare
raised $40 million (about Rs 300 crore) in a funding round led by Tiger Global.

Filter Capital, 57 Stars, existing investors CDC Group and Matrix Partners India, and a few prominent family offices also participated in the round.

The Bengaluru-based company said it plans to further invest in hiring, building logistics technology and adopting more electric vehicles into its fleet. The company claims to run an asset-light business and largely focuses on regional transportation of goods for tech companies like Swiggy, Flipkart and Amazon, and FMCG firms like Hindustan Unilever and Procter & Gamble.

Headout bags $30 million in funding

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Headout, an online experiences marketplace for travellers,
raised $30 million (Rs 224.3 crore) in its extended series B financing round led by Glade Brook Capital. Other existing investors such as Nexus Venture Partners, FJ Labs and 500 Startups also participated in the round.

In September last year, the company had raised $12 million from the same set of investors in the first tranche of series B funding.

The company will use the funds to accelerate its journey to $1 billion in annual sales by expanding to 500 cities in the next 24 months, to launch new verticals for domestic short-haul travel and build the next generation of technology products.

Deals DigestETtech

Tiger Global leads $32-million round in Jar

Jar, a startup for daily savings,
raised $32 million in a Series A funding round led by New York-based investment firm Tiger Global., Third Prime, Stonks, Force Ventures joined the fundraising as new investors, as did existing investors Arkam Ventures and WEH. Several angel investors – including Klarna’s founder Victor Jacobsson, Suleman Ali of Ali Capital, Sila Money founder Shamir Karkal and Byron Ling of Canaan Partners – also pitched in.

The Bengaluru-based fintech startup is now worth more than $200 million, people familiar with the matter said. Jar itself did not comment on its valuation. The company had raised $4.5 million in September 2021.

Krafton invests $5.4 million in Nautilus Mobile

South Korean gaming major Krafton
invested $5.4million in JetSynthesys-owned mobile game development studio Nautilus Mobile. This is the company’s first investment in a game development studio in India.

“With Nautilus, we have the aspiration of building India’s best gaming studio,” said Rajan Navani, CEO at JetSynthesys and chairman of Nautilus Mobile. “Krafton’s investment in Nautilus will let us unlock the journey that we believe is just the beginning of what the gaming industry will see moving forward.”

The funding will help Nautilus deepen its penetration in more markets globally and broaden its scope to other games in addition to cricket.

Scrut Automation raises $3 million

Scrut Automation, an information security compliance platform,
raised $3 million from Lightspeed and Endiya Partners.

The platform plans to use the fresh capital to expand operations in the US, European Union (EU), and Asia, enhance automation capabilities, and create the largest marketplace for information security (Infosec) resources, the company said in a statement.

Founded in 2021 by Aayush Ghosh Choudhury and Kush Kaushik, Scrut automates a bulk of labour-intensive compliance tasks by integrating with the most-often used Cloud and SaaS tools and automatically collecting hundreds of evidence artifacts, which would otherwise take weeks to collect.

Other key deals

■ Proptech startup POPT
raised $2 million mainly from Canada-based angel investors MRW Ventures and Riar Holdings. In the pre-seed round of funding, seven other Indian angel investors also participated.

■ Agritech startup EekiFoods
raised $2 million (about Rs 15 crore) from investors, including Avaana Capital, to expand its business and upgrade technology. The company was founded in December 2018 by IIT Bombay Alumni Abhay Singh and Amit Kumar.

■ Tech-enabled logistics and fulfillment platform Shiprocket
invested $1.5 million in Logicbricks, a SaaS platform that enables online retailers to manage their end-to-end operations.

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