Zomato QIP funding: ETtech Deals Digest: Startups raise $2.13 billion in November, up 313% on-year

Startups raised about $2.13 billion in funding between November 1 and 29, a 312.7% increase compared to $520 million across 127 rounds during the same period last year.

In November, funding came through 87 rounds, surpassing the $1.15 billion raised across 86 rounds in October, according to data from private market intelligence platform Tracxn.

During the week of November 23 to 29 alone, startups raised around $1.2 billion, driven primarily by food and grocery delivery platform Zomato’s qualified institutional placement (QIP).

Top deals of the month

Zomato: Food and grocery delivery major Zomato raised Rs 8,500 crore (around $1 billion) through a qualified institutional placement (QIP) largely led by domestic investors. The issue saw participation from a clutch of domestic investors with Motilal Oswal Mutual Fund emerging as the biggest participant picking up a significant 21% share of the QIP allocation as it pumped around Rs 1,751 crore.

Zepto: Quick commerce firm Zepto raised an additional $350 million in funding from Indian high net-worth individuals (HNIs), family offices, and leading financial institutions. The fundraise was led by Motilal Oswal’s private wealth division.Healthkart: Health supplement startup Healthkart announced a $153 million secondary funding round led by ChrysCapital and Motilal Oswal Alternates. Neo Group and Healthkart’s existing investor, A91 Partners, also participated in the round.

Nazara Technologies: Online gaming company Nazara Technologies has raised Rs 855 crore (around $100 million) through a preferential issue of over 8.9 million fully paid-up equity shares to a group of investors. The funding was led by SBI Mutual Fund, which invested Rs 220 crore.