Oravel Stays, the parent company of hospitality chain Oyo Hotels & Homes, has received a capital infusion of about $807 million from two of its backers, SVF India Holdings and RA Hospitality, the Ritesh Agarwal-controlled investment entity, as part of its ongoing $1.5 billion funding round. SVF India Holdings Limited has invested about $507 million, while RA Hospitality Holdings has put in about $300 million. Read more.
Vivriti Capital has raised $50 million in its Series B round from LGT Lightstone Aspada, the Chennai-based online enterprise debt platform. With this financing, the company has now raised a total of around $100 million to date. Vivriti Capital connects debt issuers and investors through its proprietary online enterprise debt deals and discovery platform CredAvenue. Read more.
Bengaluru-headquartered micro-lending startup SmartCoin has raised about $7 million in a fresh financing round, led by LGT Lightstone Aspada. The four-year-old company, which uses artificial intelligence and machine learning-based underwriting engine, will use the proceeds from the latest funding round to further grow its loan book to Rs 1,500 crore, and is also targeting doubling its user base to 10 million over the next 12 months. Read more.
Space technology startup Agnikul has raised Rs 23.4 crore in pre-series A funding led by Pi Ventures, as it looks to develop a satellite launch vehicle with a payload capacity of up to 100 kgs. The funding round also saw participation from Hari Kumar of LionRock Capital, Artha Ventures, LetsVenture, Globevestor, IIM-Ahmedabad’s CIIE and existing investor Speciale Invest. Read more.
Home-tech company ZunRoof has raised $3 million in Series A funding from the Godrej investment office. Founded in 2016, ZunRoof aims to use the investment to expand its product portfolio. The company’s clientele includes real estate developers and shared economy firms. Read more.