🇮🇳 Roundup: Oyo eyes $9b valuation in IPO, more

India-based startups, including Addverb Technologies, INDmoney, Epigeneres Biotech, MyCaptain, AppX, and Mivi, raised at least US$217.3 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:

Oyo eyes US$9 billion valuation in local IPO

The hospitality startup is reportedly planning to go public at a lower valuation than the US$12 million valuation it was reportedly eyeing last year.

Oyo is expected to launch its public offering within the next two weeks, as the Softbank-backed startup awaits final pricing approval.

In mid-2021, Oyo hit a valuation of US$9 billion after reportedly raising funds from Microsoft. However, the pandemic took a toll on the firm, forcing it to let go of around 300 employees at the end of 2020. (Read: 6 key findings from Oyo’s $1.2b IPO filings)

Insurtech unicorn Digit raises US$70 million in fresh funds

The general insurance provider priced 165.8 million equity shares at US$4.21 each in a round led by Wellington Hadley Harbor. Ithan Creek Master Investors also took part in the fundraise.

Digit also passed a special resolution to make changes to the conditions of its employee stock appreciation rights plan to make the scheme more beneficial for employees.

The latest funding, which will be used to develop its general insurance unit, reportedly pushes Digit’s valuation to US$372 million.

Nazara Technologies to buy 55% stake in adtech firm

The gaming and sports media company’s acquisition would pushed Datawrkz‘s valuation to US$30 million.