India Roundup: Freshworks lists on Nasdaq, and other news

Freshworks raises over US$1 billion in IPO

• the first Indian software firm to list on the Nasdaq, Freshworks sold 28.5 million shares at US$36 apiece, a premium to a company’s projected range of US$32 to US$34 per share.
• Freshworks’ shares jumped 33% to US$48 in initial trade, pushing its market capitalization to about US$13 billion.
• The listing has also brought gains for about three-fourths of the over 4,300 Freshworks employees who held stock options.

Y Combinator backs Karbon Card‘s US$12 million pre-series A round

• Investors including Ramp, Rainfall Ventures, Roka Works, and Y Combinator also took part in the financing round.
• The fintech firm will use the fresh funds to develop its products and in its operations. It is looking to double its headcount to 60 staff members over the next six months.
• Karbon said it has recorded a 30% rise in revenue since its launch in 2019. The company expects a 35% growth in its revenue in the next eight to 12 months.

Sequoia joins US$11.5 million round of health and fitness platform Fittr

• Fittr raised the sum in a series A financing round co-led by Elysian Park Ventures and Dream Capital, the venture capital arm of Dream Sports.
• The latest funding will help the fitness startup fuel its expansion plans into new markets, including North America and Singapore.
• About 30% of the company’s overall revenue comes from Australia, Canada, the US, UK, and UAE.