Deals in brief: ExceedData secures pre-Series B financing, Healius sells Lumus Imaging, India sees flurry of funding deals, and more

China’s ExceedData secures pre-Series B financing

ExceedData, a Chinese company specializing in vehicle-cloud data platforms, has wrapped up its pre-Series B round of financing, raising an eight-figure RMB sum. The round was led by BAIC Capital, with continued support from existing investor Shanghai Shique Investment.

According to 36Kr, this funding will be used to accelerate the development of data intelligence applications and advance the integration of vehicle-cloud data infrastructure with AI technology.

Founded in 2017, ExceedData delivers embedded databases, vehicle-cloud computing engines, and other data middleware to automakers and partners, powering applications like autonomous driving, intelligent cockpits, and beyond.

Healius sells Lumus Imaging to Affinity for AUD 965 million

Healius, an Australian medical diagnostics firm, has struck a deal to offload its Lumus Imaging unit to Affinity Equity Partners for AUD 965 million (USD 659 million), according to Bloomberg. The sale price represents 25.4 times Lumus’s full-year EBIT, offering Healius financial relief after consecutive years of losses.

The sale, expected to close by March 2025, will net the company over AUD 800 million (USD 546.2 million) after costs and adjustments, with proceeds aimed at reducing Healius’s debt burden and bolstering its core pathology business.

UBS Securities Australia acted as Healius’s financial advisor, while Herbert Smith Freehills provided legal guidance. The deal is subject to approval by Australia’s Foreign Investment Review Board.

September deals in India:

• Futwork, a sales outreach platform, has raised INR 210 million (USD 2.5 million) in its Series A funding round led by the Michael & Susan Dell Foundation, with participation from Artha Venture Fund, Simile Ventures, D2C Insider Angels, and Abhishek Goyal.
• GrayQuest, a Mumbai-based fintech startup specializing in education loans, has bagged INR 530 million (USD 6.4 million) in a Series B funding round co-led by Pravega Fund and IIFL Fintech Fund. Founder Rishab Sumer Mehta also participated in the round with INR 106 million (USD 1.3 million) in partly paid shares. GrayQuest will use the capital to support expansion and meet financial needs. —Entrackr
• Everest Fleet, a fleet management company based in Mumbai, has secured around INR 2.517 billion (USD 30.2 million) in its Series C funding round from Uber. The funds will cover operational costs, capital expenditure, and business expansion. Post-investment, Uber holds an 11.37% stake. —Entrackr
• M2P Fintech, an API infrastructure provider, has raised INR 4.175 billion (USD 50 million) from Taj Investment Holdings in its Series D funding round. The Chennai-based company will use the funds for working capital and expansion. —Entrackr
• Vahan, a recruitment platform for blue-collar workers, has raised USD 10 million in a Series B funding round led by Khosla Ventures, with participation from Y Combinator, Gaingels, and Paytm’s founder Vijay Shekhar Sharma. The Bengaluru-based company plans to use the funds to expand its recruitment platform to cover new sectors such as manufacturing and retail. —Entrackr
• Nazara Technologies, a Mumbai-based gaming company, has snagged INR 9 billion (USD 108 million) in a funding round led by SBI Mutual Fund, with participation from Juno Moneta Finsol and Think India Opportunities Fund. The funds will help fuel Nazara’s acquisition strategy, including increasing its stake in Absolute Sports, the parent company of Sportskeeda. —Entrackr
• Proxgy, a deep tech startup focused on internet-of-things solutions, has raised USD 2.2 million in a funding round led by Manish Patel. Investors like Nikhil Kamath, Suniel Shetty, and Kuldeep Mathur also participated. The Gurugram-based company will use the capital to scale its IoT infrastructure and product development. —Entrackr
• DailyObjects, a lifestyle accessories brand from Gurugram, has raised INR 860 million (USD 10.3 million) from 360 One Ventures. The fresh capital will be directed toward working capital, expansion, and corporate purposes. —Entrackr
• Whatfix, a Bengaluru-based company specializing in digital adoption solutions, has raised USD 100 million in a Series E funding round led by Sweet Nectar Investments (Warburg Pincus) and SoftBank. This funding marks the company’s first round in three years and will be used for expansion and new business initiatives. —Entrackr
• Onsurity, an employee healthcare platform, has closed its Series B funding round, raising USD 45 million. Creaegis led the investment, while Nexus Venture Partners and Quona Capital participated. The Bengaluru-based company will leverage the funds to launch new products and expand its customer base. —Entrackr
• Moneyview, a Bengaluru-based consumer lending platform, has secured INR 386.4 million (USD 4.6 million) from Accel India and Nexus Ventures. The company plans to raise additional capital in the coming months and is expanding its financial services suite through the acquisition of Jify. —Entrackr
• Centricity, a Gurugram-based wealth tech platform, has raised USD 20 million in a seed funding round led by Lightspeed. The company will use the funds to scale its two platforms—Invictus and One Digital—and enhance its technology for financial advisors and private bankers. —Entrackr
• Rapido, a ride-hailing company based in Bengaluru, has raised USD 200 million in its Series E funding round led by WestBridge Capital, with participation from Think Investments, Nexus Venture Partners, and Invus Group. The fresh capital will be used to expand its services. —Entrackr

Kuaishou, Momos, Physics Wallah, and more led last Friday’s headlines:

• DCM Ventures, a global venture capital firm, is planning to sell its remaining 91.66 million shares in Chinese short video platform Kuaishou Technology, aiming to raise up to USD 479 million.
• Momos, a customer management platform for multi-location brands, raised USD 10 million in a Series A funding round led by 645 Ventures, with participation from Alpha Wave Global, Peak XV Partners, and new investors Soma Capital, FJ Labs, Taurus Ventures, and Correlation Ventures.
• Physics Wallah, an Indian edtech platform, raised USD 210 million in a Series B funding round led by Hornbill Capital.

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