Zetwerk's fourth acquisition🎁; Temasek buys 1.1% in Zomato🍜; Agrifood startups get $4.6 Bn🌽

First overseas acquisition of Zetwerk and the fourth within 6 months, Temasek picks up 1.14% stake in Zomato, Indian agrifood startups get $4.6 bn investment, Funding Deals and more.

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Dec 01, 2022

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Zetwerk makes fourth acquisition this year🎁

B2B manufacturing service unicorn Zetwerk has acquired US-based industrial manufacturing firm Unimacts for a total deal size of $39 million. This is the first overseas acquisition of Zetwerk and the fourth within six months.

The company is planning to clock more than $1 billion of revenue for the financial year ending 2023. The company’s gross merchandise value grew six-fold, to $770 million from $130 million, and the operating revenue expanded to $670 million from $110 million in 2020-2021.

"This acquisition will immediately expand our presence in North America and position Zetwerk for additional expansion in the coming months. We are excited to usher in a new era of intelligent manufacturing for our customers, partners, and our planet," said Amrit Acharya, co-founder and CEO of Zetwerk.

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Temasek unit picks up 1.14% stake in Zomato🍜

Camas Investments Pte Ltd, an arm of Singapore's state-owned fund Temasek Holdings, bought 98 million shares of Zomato on Wednesday at Rs 62 apiece, bulk deals data from National Stock Exchange showed. In all, the Temasek unit picked up a 1.14% stake in the food-delivery company for Rs 607.60 crore.

On Wednesday, Alibaba group affiliate Alipay Singapore Holding Pte Ltd offloaded 262.87 million shares of Zomato for Rs 62.06 per share, the data showed. This represented a 3.07% stake in the company.

After the changing of hands of Zomato shares, Temasek now holds a combined 4% stake in the Gurugram-based company. It bought a 2.86% stake in Zomato in 2020 through its arm Macritchie Investments Pte Ltd.

Alibaba, meanwhile, will own about 10% of Zomato through its units Alipay Singapore Holding and Antfin Singapore Holding Pte Ltd.

Agritech startup MoooFarm, which offers a dairy-as-a-service platform to farmers, has raised $13 million in a Series A funding round led by Aavishkaar Capital.
Flash, which aims to build unified digital identities for frequent shoppers, has raised $5.8 million in seed funding led by global funds such as Global Founders Capital (GFC), White Venture Capital, Zinal Growth, Soma Capital, Emphasis Ventures and Peer Capital.
Tech-enabled pet care startup Vetic has raised $3.7 million in a seed funding round led by investor Lachy Groom.
Esports tournament platform Gamerji has raised $3 million in a Pre-Series A round from GVFL (formerly Gujarat Venture Finance Limited) and Unicorn India Ventures.
Burma Burma, a popular Burmese vegan restaurant chain, has raised more than $2 million in a seed round led by Negen Capital.

Funding Deals 💰

Indian agrifood startups get record $4.6 billion investment in FY22: Report🌽

Indian agrifood startups received a record $4.6 billion in investment in FY 2021-22, up 119 percent year-over-year, as the country overtook China as Asia-Pacific’s biggest funder of agrifood-tech innovation, a report showed.

Farmtech startups raised $1.5 billion across 140 deals, a 185 percent year-over-year increase, according to the report by VC firms AgFunder and Omnivore. Restaurant marketplaces and e-grocery startups secured close to $3 billion, around 66 percent, of the total investment.

The deal activity also increased to 234 in FY2022 compared to 189 deals in FY2021. Downstream startups raised $3.8 billion, a 115 percent increase from $1.77 billion in FY2021.

This significant growth is due to Swiggy, which raised $1.2 billion accounting for 38 percent of total investment in Indian agrifood startups. eGrocery startups raised $934 million across 42 deals, a 4x jump from $244 million across 25 deals in FY2021.

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