Weekly rundown: CommerceIQ, Oxyzo turn unicorns; Ola to buy Avail Finance

India’s unicorn run continues its impressive pace with two start-ups touching the coveted $1 billion valuation mark this week.

One of them was Oxyzo Financial Services, which marked the first ever event of an Indian couple propelling their respective start-ups to unicorn status. 

Oxyzo, the lending arm of industrial goods procurement firm Ofbusiness, announced $200 million Series A round at $1 billion valuation. 

Also Read: CommerceIQ turns unicorn with a $115 mn fund raise led by SoftBank

The fundraise, its first large external funding round, was led by Tiger Global and AlphaWave Global, with participation from Norwest Venture Partners, Matrix Partners, and Creation Investments. 

Oxyzo, led by Ruchi Kalra, was spun off from Ofbusiness, which became a unicorn last year. Kalra along with her husband Asish Mohapatra are co-founders at OfBusiness. 

Retail e-commerce management platform CommerceIQ closed a $115 million Series D financing round, bringing the company’s total valuation to more than $1 billion. 

The new funding follows CommerceIQ’s $60 million Series C round in June 2021. The round was led by SoftBank Vision Fund 2. 

All existing institutional investors in the company – Insight Partners, Trinity Ventures, Shasta Ventures, and Madrona Venture Group – participated in the round. 

Also Read: Ofbusiness’s financial services arm Oxyzo turns unicorn

The company said the fresh capital will be used to expand its business and strengthen hiring globally,…

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