🇮🇳 Roundup: Spiritual startup to raise $30m in series B money

Startups in India, including EnKash, Agrizy, One World Nation (OWN), and Kandola, have raised at least US$26.4 million in disclosed funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Spiritual startup to raise $30m in series B money

A US-based investor is reportedly in talks to lead this round, which could bump up AppsForBharat‘s valuation up to US$150 million.

If the deal goes through, it will be the third investment raised by AppsForBharat in the span of eight months. In August 2021, the company raised US$4 million in seed funding, followed by US$10 million in series A money a month later.

Founded by Prashant Sachan in November 2020, AppsForBharat has launched its first app called SriMandir.

Trell sells AppsForBharat shares to Mirae Asset for $8m

Social commerce app Trell has reportedly sold around 7% to 8% of its stake in AppsForBharat to Mirae Asset. AppsForBharat founder Prashant Sachan is a former founder of Trell.

The US$8 million deal is an effort to save Trell as it faces cash flow issues.

Last year, a whistleblower raised concerns regarding Trell’s financial misappropriation to one of its investors – Sequoia Capital – and disturbed its efforts to raise new funding. A forensic team from EY India has been called to check for financial irregularities in the firm.

Investment app Upstox set for $4m share buyback plan

Through the process, the firm can buy up to 286,000 equity shares that are owned by its founders and employees. It is the first buyback plan that has been executed by Upstox since its inception.

Founded in 2010, Upstox is an online trading platform in India. It was previously known as RKSV.