Zappfresh Leads Indian Startup Acquisitions in 2024

Deal News | Dec 10, 2024 | EIN

Zappfresh Leads Indian Startup Acquisitions in 2024

In the first half of 2024, there was a 45% decline in M&A deals year-on-year in the Indian startup ecosystem, influenced by macro and microeconomic factors, and a prolonged funding winter. However, the second half witnessed a significant turnaround as favorable trends and regulatory reforms spurred mergers and acquisitions, reinvigorating the sector. Notable acquisitions included Zappfresh taking over Bonsaro, Reliance's talks with TagZ Foods, and multiple strategic purchases by major players such as Freshworks with Device42 for $230 million, Nazara Technologies' expansion with Fusebox and Paper Boat, and OYO's purchase of Checkmyguest and G6 Hospitality. Other significant deals included Symphony Technology Group's acquisition of Eka Software Solutions and Veranda Learning Solutions acquiring Tapasya Educational Institutions. These acquisitions reflected a combination of strategic expansions, diversification in services, and adoption of advanced technological platforms to better serve and expand existing markets.

Sectors

  • Technology
  • Finance
  • Consumer Goods

Geography

  • India – The primary focus and geographical context of the article centers around the Indian startup ecosystem and its dynamic M&A activities.
  • United States – Several companies involved in the acquisitions, like Freshworks and Eka Software Solutions, have strong connections to the US market.
  • Europe – OYO's strategic expansion into Europe through its acquisitions reflects significant cross-border M&A activity.

Industry

  • Technology – Many acquisitions involved technology companies, such as BrowserStack, Freshworks, Eka Software Solutions, and more, highlighting the ongoing significance of tech solutions in business growth.
  • Finance – Significant financial transactions shaped the structure and competitive landscape within the industry, with firms like Fullerton Financial Holdings and Lendingkart playing notable roles.
  • Consumer Goods – Mergers and acquisitions in the consumer goods sector, like Reliance's talks to acquire TagZ Foods, indicate transformative activities in distribution channels.

Financials

  • 230,000,000 – Freshworks acquisition of Device42.
  • 252,000,000 – Investment by Fullerton Financial Holdings in Lendingkart.
  • 525,000,000 – OYO's acquisition of G6 Hospitality from Blackstone Real Estate.
  • 2,048,000,000 – Zomato's acquisition of Paytm's entertainment ticketing business.

Participants

NameRoleTypeDescription
ZappfreshBuyerCompanyMeat delivery startup acquiring Bonsaro to expand delivery operations.
ReliancePotential BuyerCompanyIndian conglomerate in talks to acquire D2C snacking startup TagZ Foods.
Aurionpro SolutionsBuyerCompanyAcquired a majority stake in Arya.ai to enhance its AI platform capabilities.
BrowserStackBuyerCompanyAcquired Bird Eats Bug to improve its software testing platform.
FreshworksBuyerCompanyAcquired Device42 for $230 million, enhancing IT service management offerings.
Fullerton Financial Holdings (FFH)BuyerCompanyAcquired a majority stake in fintech startup Lendingkart.
LendingkartTargetCompanyMSME-focused fintech startup offering loans and financial services.
L&TBuyerCompanyAcquired SiliConch Systems to enhance its semiconductor capabilities.
Nazara TechnologiesBuyerCompanyAcquired Fusebox Games and Paper Boat Apps to expand in gaming and education.
OYOBuyerCompanyAcquired Checkmyguest and G6 Hospitality to enhance its presence in Europe and the US.
Symphony Technology Group (STG)BuyerCompanyAcquired Eka Software Solutions to expand its portfolio of solutions.
Veranda Learning SolutionsBuyerCompanyAcquired Tapasya Educational Institutions to strengthen its education offerings.
Times InternetSellerCompanySold ET Money to 360 One WAM as part of strategic divestment.
360 One WAMBuyerCompanyAcquired ET Money to expand wealth management capabilities.