🇮🇳 Roundup: Flipkart buys electronics recommerce firm, more (Updated)

Update (March 11, 3:34 pm): Adds news on Flipkart’s acquisition.

Startups in India, including Lead, Rooter, Turnip, Wiz Freight, YantraLive, and Orai, collectively raised at least US$142.08 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:

Flipkart buys electronics recommerce firm

Flipkart has acquired Yaantra, an electronics recommerce firm, for an undisclosed sum.

The deal will help Flipkart provide its consumers with a service ecosystem that can handle the entire lifecycle of smartphones.

Incorporated in 2013, Yaantra repairs and sells refurbished consumer tech products such as smartphones and laptops.

PointOne Capital hits final close of US$7 million maiden fund

The pre-seed-focused VC firm said the final close of its pre-seed fund comes within a year of its first close in December 2020. Its limited partners include Silicon Valley- and India-based entrepreneurs and C-level executives.

The new fund will mainly look for startups in the beta or pre-launch stages.

PointOne has made 30 investments so far, of which 20 came just last year. Its ticket sizes range from US$100,000 to US$150,000. Its portfolio comprises firms like CreatorStack, Blend, Inai, and Seekho.

Foundation PE acquires all LP interest in Prime Venture Partners

With the acquisition, Prime’s previous limited partners have exited, generating returns of over 4x.