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Rowan Freeman

Funding roundup January 24 – January 28: EstimateOne Secures $35m, Tint has raised over $730k through its latest crowdfunding offer, and India’s foodtech behemoth Swiggy earns decacorn status

Dynamic Business brings you the key startup fundraising rounds from this week:

EstimateOne Secures $35 million in first capital raising

EstimateOne, Australia’s largest digital procurement platform for commercial construction, has announced the completion of its first capital raise with a $35 million investment from Potentia Capital and Saniel Ventures. The deal includes $20 million of primary capital and a $15 million secondary investment.

Potentia Capital is a specialist private equity investor focussed on technology and tech-enabled businesses and is helmed by Co-Managing Directors Tim Reed and Andrew Gray (former Managing Director of Archer Capital). 

Saniel Ventures is a private investment group supporting high growth technology companies, backed by Leigh Jasper, co-founder of construction management platform Aconex.

Tint has raised over $730K through its latest crowdfunding offer

Melbourne based Tint Paint has raised $730,000 in just two weeks through their Equitise crowdfunding campaign, which recently concluded, following a massive rise in sales from Aussies performing DIY repairs. BGH Capital and ex-Leigh Aconex’s Jasper, among others, have invested. 

They plan to use the funding to open a second dispatch location in Sydney. According to Equitise co-founder and managing director Jonny Wilkinson, the crowdfunding business in Australia has more than doubled in the previous two years, with total funding increasing from $28.3 million in 2016 to $46 million in 2021, as more Australians get behind industries they believe in.

India’s foodtech behemoth Swiggy doubles valuation to earn decacorn status 

Swiggy, a Bengaluru-based food delivery platform, has raised $700 million in a round led by US asset management Invesco. Swiggy, which SoftBank backs, increased its valuation to $10.7 billion in its most recent investment round. 

Previously, the company was valued at $5.5 billion. Swiggy claimed in a statement that the gross order value (GOV) of its food delivery company has doubled in the last year. According to the company, the funding would accelerate growth on its core platform and make significant investments in its quick delivery business, Instamart.

Eucalyptus raises $60 million

Eucalyptus, a Sydney-based healthcare startup, has raised $60 million in a Series C fundraising round led by Bond, a San Francisco-based venture capital firm. The latest funding round adds to the $30 million Eucalyptus raised in mid-2021.

Checkbox raises $6.3 million

A platform for creating code-free apps Checkbox has raised $6.3 million in pre-Series A funding to grow its domestic and international operations. Funding was driven through Australian outfit Tidal Ventures and Sequoia India’s Surge program.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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