ETtech Deals Digest: Amazon backs MyGlamm, Jungle’s Leap bet

Bengaluru: In this week’s ETtech Deals Digest, the world’s largest e-commerce firm has made its first consumer-brand bet in India, while edtech startups continued their funding overdrive.

Amazon backs MyGlamm

Amazon, Wipro Consumer and Ascent Capital have led a Rs 175 crore Series C financing in omnichannel direct-to-consumer beauty brand MyGlamm, valuing the company at more than $100 million. With this investment, Amazon gets a foot in the door of the country's burgeoning personal care and beauty segment.


MyGlamm plans to use the funds raised to build its data science capabilities, expand its product portfolio and further strengthen the company brand.

Leap gets $17 million from Jungle Ventures

Jungle Ventures has made its first bet in India's edtech space by leading a $17 million Series B funding round in overseas education platform Leap. Owl Ventures and existing investor Sequoia Capital India also participated in the round.

Leap will use the funds to expand into new geographies, build its product, double its team to 200 employees, and expand its services to include international student insurance as well as offer international students credit cards through tie-ups with banking partners abroad.

OZiva raises $12 million funding

OZiva, a plant-based nutrition omnichannel brand, has raised $12 million in a Series B funding round led by Eight Roads Ventures with participation from F-Prime Capital and existing investor Matrix Partners India.

The startup plans to use the funds raised to expand its team of 110 employees, foray into the kids nutrition segment, add products in the vitamins and minerals category, and on research and development initiatives. The proceeds will also be used to invest in its own manufacturing facility in Himachal Pradesh.

Other Key Deals

■ Fintech startup YAP has raised $10 million in a Series B funding round that was co-led by Flourish Ventures and Omidyar Network India at an undisclosed valuation. Existing investors Beenext, 8i Ventures and Better Capital also participated in the financing round.

■ Online fashion retailer Bewakoof has raised Rs 30 crore from domestic venture capital fund IvyCap Ventures. The funds will be used to improve branding and technology, as well as launch new product categories.

New Fund Closes

■ Technology-focused venture capital firm Ankur Capital has raised Rs 330 crore ahead of an interim close of its second fund. The fund's total target size is around Rs 350 crore, with an option to retain another Rs 50 crore depending on investor interest.

■ Micro venture capital fund Eximius Ventures has announced the first close of its maiden fund of $10 million. Led by founder and managing director Pearl Agarwal, the fund plans to back 25-30 early-stage startups over the next three years at an average deal size of $300,000.

M&A Deals

Wealthtech startup CashRich has acquired WealthApp's mutual fund distribution business in an all-cash deal. Post this acquisition, CashRich’s user base will reach around 2,00,000.