The second week of November saw a revival in startup funding, aligning with the festive spirit.

Between November 6 and November 10, Indian startups garnered a collective $159 Mn across 18 deals, marking a 19.5% uptick from the previous week’s $133 Mn total funding.

Funding Galore: Indian Startup Funding Of The Week [Nov 6 – Nov 10]

Key Startup Funding Highlights Of The Week

• Bengaluru-based B2B logistics startup Xpressbees bagged $80 Mn from the Ontario Teachers’ Pension Plan, making it the biggest funding deal of the week.
• Fuelled by Xpressbees funding, the enterprisetech sector emerged as the most funded sector, raising $80 Mn.
• The ecommerce sector witnessed the most number of deals this week. The sector bagged $6.8 Mn across four deals.
• This week, the seed funding saw a marginal improvement with $3.9 Mn being raised across three deals. 
• Alteria Capital was the busiest investor of this week as it participated in two deals.

Other Major Developments From This Week

• Rainmatter-backed Game Theory acquired sports analytics startup Matchday.ai for an undisclosed amount.
• India might get its second unicorn of 2023, as fintech startup Incred announced receiving commitments of $60 Mn, which will allow it to join the unicorn club.
• Travel Boutique Online, or TBO Tek Ltd, has filed its draft red herring prospectus (DRHP) to raise upto INR 400 Cr through a fresh issue of shares. The IPO offer also includes an offer-for-sale (OFS) component of 1.56 Cr equity shares.
• In a big relief to BYJU’S, the family office of Manipal Group chairman Ranjan Pai has acquired the $250 Mn debt availed by Aakash Educational Services Limited (AESL) from Davidson Kempner.

The post From Xpressbees To Zepto — Indian Startups Raised $159 Mn This Week appeared first on Inc42 Media.

After witnessing a V-shaped rebound in terms of startup funding last month, November kicked off on a sombre note. In the first week of the eleventh month of 2023, the startup ecosystem secured $133 Mn in funding across 18 deals, marking a significant 71% decrease from the $466 Mn raised in the previous week.

Funding Galore: Indian Startup Funding Of The Week [Oct 30 – Nov 4]

Key Startup Funding Highlights Of The Week

• Karnataka-based precision manufacturing startup Aequs raised $54 Mn in a funding round led by Amansa Capital, making it the biggest funding deal of the week.
• Fuelled by Aequs funding, the enterprisetech sector emerged as the most funded sector this week, raising $64 Mn across three deals.
• The enterprisetech and agritech sector witnessed the most number of deals – three each. While enterprisetech startups bagged $64Mn, startups in the agritech sector raised $3.6 Mn.
• Seed funding continued to see a decline this week as well. In the first week of November, seed funding stood at $2.1 Mn across three deals

Startup Acquisitions This Week

• Cloud kitchen startup Curefoods acquired foodtech startup Yumlane for an undisclosed amount.
• Peyush Bansal’s Lenskart acquired AI-powered computer vision startup Tango Eye for an undisclosed amount.
• Angel One acquired the team of Bengaluru-based learning app Dstreet Finance

Other Major Developments From This Week

• Healthtech unicorn PharmEasy recently conducted an INR 3,500 Cr rights issue that was oversubscribed, claimed cofounder Dhaval Shah.
• Java Capital closed its INR 50 Cr fund, with participation from startup founders and HNIs located in India, the Middle East, and the United States. 
• Anicut Capital received a commitment of over INR 30 Cr from HDFC AMC’s Fund of Fund, with possible additional allocation in the near future.
• Kratos Studios earmarked INR 50 Cr grant for Kratos Games Network to encourage gaming studios to migrate their games to its blockchain platform.
• JSW Ventures divested its stake in ecommerce unicorn Purplle by selling it to Manipal Education and Medical Group Family Office (MEMG)

The post From Aequs To Skyroot Aerospace — Indian Startups Raised $133 Mn This Week appeared first on Inc42 Media.

Following a decrease in funding last week, Indian startups have regained the funding momentum. Between October 23 and October 28, Indian startups collectively raised $466 Mn in funding across 13 deals, a 96% upswing from $237 Mn raised by startups across 20 deals last week.

Funding Galore: Indian Startup Funding Of The Week [Oct 23 – Oct 28]

Key Startup Funding Highlights Of The Week

• EV unicorn Ola Electric raised $384 Mn Mn in a funding round from Temasek and SBI, making it the biggest funding deal of the week.
• Fuelled by Ola Electric’s funding, the cleantech sector emerged as the most funded sector this week, raising $413 Mn across two deals.
• The enterprisetech and deeptech sector witnessed the most deal counts with three deals each. While enterprisetech baggage $10.2 Mn, deeptech sector raised $6.7 Mn.
• Seed funding activity saw a significant decline this week, falling to $3.8 Mn across two deals from $5.2 Mn raised last week.

Other Major Developments From This Week

• SaaS logistics platform Shipsy acquired inventory management platform Stockone for an undisclosed amount. 
• EV battery startup Log9 Materials announced an ESOP buyback plan worth INR 1.5 Cr for its employees. 
• Rahul Gupta, and Siba Panda jointly launched their sector agnostic venture debt fund – ValuAble, with a corpus of INR 850 Cr or $100 Mn
• InCred Asset Management, the asset management arm of InCred, closed its maiden credit fund, InCred Credit Opportunities Fund-I, at INR 660 Cr.
• Peak XV Partners have launched the ninth cohort of its startup accelerator programme – Surge, featuring 7 Indian startups. Click here to know more

The post From Ola Electric To PMI Electro Mobility — Indian Startups Raised $466 Mn This Week appeared first on Inc42 Media.

Following two weeks of growth in funding, the Indian startup ecosystem witnessed a decline in the third week of October. From October 16 to October 21, 2023, the startup ecosystem raised $237 Mn across 20 deals, marking a 18% downfall compared to $288 Mn raised across 24 deals last week. 

Funding Galore: Indian Startup Funding Of The Week [Oct 16 – Oct 21]

Key Startup Funding Highlights Of The Week

• Enterpritech  startup Zetwerk raised $120 Mn in a Series F funding round from Avenir Growth, making it the biggest funding deal of the week.
• Fuelled by Zetwerk’s funding, the enterpristech sector emerged as the most funded sector this week, raising $127 Mn across two deals.
• The fintech sector witnessed the most deals this week. The startups in the sector raised $40 Mn across seven deals. 
• Seed funding activity saw a significant decline this week, falling to $5.2 Mn across seven deals from $9.3 Mn last week.
• Gruhas was the busiest investor as it participated in two deals this week.

Other Major Developments From This Week

• Video editing platform provider VideoVerse acquired AI-powered design system Optikka for an undisclosed amount.
• Singularity Growth announced the first close of its second fund – Singularity Growth Opportunities Fund II – at INR 500 Cr. The second fund’s total corpus is INR 1,500 Cr.
• Beleaguered healthtech startup Mojocare’s board decided that the startup will shut its operations and return remaining capital to investors.
• Fintech SaaS startup Perfios conducted an ESOP buyback worth INR 154 Cr, turning 62 of its employees millionaires.

The post From Zetwerk To Neo — Indian Startups Raised $237 Mn This Week appeared first on Inc42 Media.

Continuing the funding momentum from the previous week, the second week of October witnessed Indian startups bagging $288 Mn across 24 deals. This week’s funding marks a 142% increase from the $119 Mn secured by Indian startups in the previous week across 11 deals. Additionally, this week also saw a mega deal, as fintech startup Zolve bagged $100 Mn in a debt funding round. 

Funding Galore: Indian Startup Funding Of The Week [Oct 9 – Oct 14]

Key Startup Funding Highlights Of The Week

• Fintech neobank startup Zolve raised $100 Mn in a debt funding round from the US-based impact investor Community Investment Management (CIM), making it the biggest funding deal of the week.
• Fuelled by Zolve’s funding, the fintech sector emerged as the most funded sector this week, raising $206.7 Mn across six deals
• Ecommerce sector witnessed the most deals this week. The sector saw seven deals with $16.4 Mn of funding. 
• Seed funding activity saw a marginal upswing this week, rising to $9.3 Mn across six deals. 
• Matrix Partners India was the busiest investor as it participated in two deals this week.

Other Major Developments From This Week

• Warner Music India acquired E-Positive, an artist management company, to strengthen its presence in the country’s independent music space.
• Singapore-based Jungle Ventures launched First Cheque@Jungle programme to back early stage startups in idea to seed stage.
• Delhi NCR-based healthtech startup Zivov is in advanced talks to raise around $5 Mn in its pre-Series A funding round, sources told Inc42. 
• Nikhil Kamath, the cofounder of bootstrapped unicorn Zerodha, launched WTF Fund, a funding and mentorship programme for entrepreneurs under the age of 22.
• Kunal Shah’s CRED is in talks to acquire investech platform Kuvera to enter the fast-growing stock and mutual fund broking market. 
• WestBridge Capital has acquired a stake in Meesho in a secondary transaction from its early and long-term backer, Venture Highway.

The post From Zolve To InsuranceDekho — Indian Startups Raised $288 Mn This Week appeared first on Inc42 Media.

The month of October got off to a sluggish start in terms of funding for the Indian startup ecosystem. During the first week of the month, Indian startups have secured $119 Mn across 11 deals, marking a 38% decrease to the previous week when the ecosystem collectively bagged $194 Mn across 34 deals.

Funding Galore: Indian Startup Funding Of The Week [Oct 2 – Oct 7]

Key Startup Funding Highlights Of The Week

• B2B vendor management startup Bizongo raised $50 Mn in a Series E funding led by Schroder Adveq, making it the biggest funding deal of the week.
• Fuelled by Mensa Brands & Bizongo’s fundraise, the ecommerce sector emerged as the most funded sector this week, raising $91.4 Mn. The sector also secured the most number of deals i.e. 4, making it the funded sector overall. 
• Seed funding activity saw a marginal dip this week with $8.75 Mn in infusion across 7 deals. Last week, $9 Mn was raised in a seed funding across 17 deals.

Startup Acquisitions This Week

• Listed caller identification app Truecaller acquired Bengaluru-based TrustCheckr, to help businesses verify customer information and detect the risk of fraud based on phone numbers.
• This week, Inc42 exclusively reported that gaming unicorn Dream11’s acquisition of fantasy cricket platform Sixer for an undisclosed amount.
• Nazara Technologies’ NODWIN Gaming acquired a 100% stake in PublishME for $2 Mn.
• After receiving an RBI approval fintech unicorn slice will be merging with North East Small Finance Bank (NESFB). 

Other Major Developments From This Week

• GVFL, formerly known as Gujarat Venture Finance Limited, has launched an accelerator programme – Xcelerate Program, in partnership with Marwari Catalysts for seed stage startups. The programme, will provide mentorship and investment in the range of INR 75 Lakh to INR 2.5 Cr
• Bengaluru-based car rental startup Zoomcar is eyeing to list on the American stock exchange Nasdaq in the ongoing quarter through a special purpose acquisition company (SPAC) deal.
• Chairman of Manial Group – Ranjan Pai is reportedly in talks to make a major investment in the beauty ecommerce unicorn Purplle.
• Everest Fleet has given 18.8X and 19X exits to its early backers – Rockstud Capital and Artha Venture Fund respectively after securing investment from Uber and Paragon Ventures

The post From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week appeared first on Inc42 Media.

Following a brief dip in funding last week, the month of September is concluding on a notably stronger note. Indian startups raised $194 Mn across 34 funding deals, marking a substantial 113% increase from the $91 Mn raised in the prior week.

Throughout September, Indian startups garnered $995 Mn in funding over a span of four weeks.

Funding Galore: Indian Startup Funding Of The Week [Sept 25 – Sept 30]

Key Startup Funding Highlights Of The Week

• Bengaluru and San Francisco-based Consumer fintech startup Bright Money raised $62 Mn funding in a mix of equity and debt, making it the biggest funding deal of the week.
• Fuelled by Bright Money’s fundraise, the fintech sector emerged as the most funded sector this week, securing $67.5 Mn across two deals.
• Ahead of the festive season, the ecommerce sector witnessed the most number of deals. The sector saw ten deals and a total of $62 Mn being raised.
• Seed funding activity surged this week with $9 Mn in fund infusion across 17 deals, a substantial jump from $5.4 Mn raised across five deals a week prior
• Flipkart Ventures was the busiest investor this week as it participated in five deals.

Startup Acquisitions This Week

• SaaS firm KaarTech acquired Chicago-based customer experience solutions consultancy company Dunn Solutions for an undisclosed amount.
• D2C fashion startup Styched acquired performance wear brand Zymrat in a cash and equity swap deal. 
• Indian music giant Saregama is acquiring a 92.6% stake in the new-age digital entertainment startup Pocket Aces at a valuation of $40 Mn.

Other Major Developments From This Week

• Debt VC firm Trifecta Capital announced the final close of its third venture debt fund, Trifecta Venture Debt Fund III, at INR 1,777 Cr.
• According to Inc42 sources, electric vehicle (EV) charging infrastructure provider Bolt.Earth is in talks with investors to raise $20 Mn in its Series B round at a valuation of $100 Mn. 
• Hyderabad’s Young Entrepreneurs Association (YEA) launched its new startup fund with an initial corpus of INR 5 Cr for potential startups in the Hyderabad region. 
• Matrix Partners India has elevated three of its principals – Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi  – to the managing director roles.
• Healthcare-focussed startup Affordplan this week saw a complete management buyout led by its CEO,  thus giving a complete exit to the founders and four private equity investors. 

The post From Bright Money To Doceree — Indian Startups Raised $194 Mn This Week appeared first on Inc42 Media.

Following two weeks of consistent funding inflow, the Indian startup ecosystem witnessed a significant drop in funding during the third week of September. Indian startups raised $91 Mn across 15 deals during September 18 to 23, a substantial 78% decrease compared to the previous week’s $413 Mn across 21 deals.

Funding Galore: Indian Startup Funding Of The Week [Sept 18 – Sept 23]

Key Startup Funding Highlights Of The Week

• Mumbai-based vernacular audio platform Kuku FM raised $25 Mn in its Series C round from The Fundamentum Partnership and IFC, making it the biggest funding deal of the week.
• Fuelled by Kuku FM and Eloelo’s fundraise, the media and entertainment sector emerged as the most funded sector this week, securing $47 Mn across two deals.
• There were a total of five seed funding deals amounting to a combined investment of $5.4 Mn during the week.
• Inflection Point Ventures (IPV) was the busiest investor this week as it participated in three deals.

Startup Fund Launches This Week

• Indian private equity (PE) firm Creaegis announced the final close of its maiden $425 Mn (INR 3,529 Cr) fund to invest in homegrown startups. 
• Japanese VC firm Incubate Fund Asia concluded the first close of its third fund with a target corpus of $50 Mn (around INR 416 Cr). It will deploy the funds in 20 pre-seed and seed stage startups.
• Antler India announced the first close of its maiden fund at INR 500 Cr and intends to complete the final close at INR 600 Cr. The fund will solely focus on funding early stage Indian startups.

Other Major Developments From This Week

• Nikhil Kamath, the cofounder of Zerodha, is likely to join the captable of electric two-wheeler manufacturer Ather Energy via a secondary sale.
• Walmart-owned ecommerce giant Flipkart is planning to invest $15 Mn to $20 Mn for an in-house credit marketplace ahead of the festive season.
• Bhavish Aggarwal-led Ola Electric has reportedly expedited its public listing plans and is likely to file the DRHP with the SEBI for its $700 Mn IPO before the end of October.
• Fintech SaaS startup Perfios has acquihired Chennai-based open finance platform Fego.ai.

The post From Kuku FM To Eloelo — Indian Startups Raised $91 Mn This Week appeared first on Inc42 Media.

Maintaining a strong funding pace in the second week of September, Indian startups successfully garnered $413 Mn through 21 deals from September 11 to September 15. This represents a significant 61% increase over the $257 Mn secured in 18 deals during the prior week.

The week witnessed one mega deal, with fintech SaaS-based startup Perfios bagging $229 Mn in its Series D round from Kedaara Capital.

Funding Galore: Indian Startup Funding Of The Week [Sept 11 – Sept 16]

Key Startup Funding Highlights Of The Week

• Bengaluru-based fintech SaaS startup Perfios raised $229 Mn from Kedaara Capital, making it the biggest fundraise of the week.
• Fueled by Perfios fundraise, the fintech emerged as the most funded sector this week, securing $231 Mn across four deals.
• Enterpristech reported the highest deal count, securing $85.6 Mn across five startup funding deals.
• Following an impressive number of seed funding deals last week, the Indian startup ecosystem witnessed meagre three deals.
• Kedaara Capital was the busiest investor this week as it participated in two deals each.

Startup Fund Launches This Week

• Early stage VC firm Vertex Ventures Southeast Asia and India has raised $541 Mn for its fifth fund – the VVSEAI Fund V.
• Xponentia Capital announced the first closure of  Xponentia Opportunities Fund II after raising INR 1,000 Cr from investors, exceeding the initial target of INR 750 Cr. 
• Early stage VC Kae Capital closed its Winners Fund II (KWF II) worth $50 Mn (INR 410 Cr) to co-invest in its portfolio startups.
• Artha Group has launched Artha Continuum Fund (ACF), a syndicate fund tailor-made for family offices and Ultra High Net Worth Individuals (UHNIs).

Startup Acquisitions Of This Week

• Intercity food delivery startup JustMyRoots acquired regional packaged food delivery startup The State Plate (TSP) for an undisclosed amount.
• Fintech unicorn Razorpay marked its eighth acquisition. The fintech unicorn acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup. 
• 1 Bridge acquired the technology assets of eSamudaay to build district commerce stack on Open Network for Digital Commerce (ONDC). 
• Sportswear brand Agilitias Sports, which raised $52 Mn in its maiden funding round, has acquired Mochiko Shoes, a domestic footwear brand. 

Other Major Developments From This Week

• AI-enabled matrimony startup Betterhalf announced its second ESOP buyback programme which will benefit 29 current and former employees. 
• Troubled BYJU’S has put two of its acquired companies – Epic and Great Learning, on sale and is looking to cash out $800 Mn – $1 Bn from it.
• Global investment major KKR is likely to invest INR 2,069.5 Cr in Reliance’s retail arm – Reliance Retail Ventures Ltd (RRVL) for INR 2,069.5 Cr.  
• Lenskart-backed Neso Brands invested $4 Mn in Paris-based omnichannel eyewear brand Le Petit Lunetier for a significant stake.

The post From Perfios To Pixis — Indian Startups Raised $413 Mn This Week appeared first on Inc42 Media.

The month of September began with a positive upswing in funding for Indian startups. Between September 4 and September 9, 2023, Indian startups collectively secured $257 Mn across 18 deals.

This week’s funding further marks a significant increase of 394% compared to $52 Mn raised by Indian startups in the previous week.

The week witnessed one mega deal, with Ather Energy bagging $108 Mn from Hero MotoCorp and GIC.

Funding Galore: Indian Startup Funding Of The Week [Sept 4 – Sept 9]

Key Startup Funding Highlights Of The Week

• Bengaluru-based EV scooter manufacturing startup Ather Energy raised $108 Mn from Hero MotorCorp and GIC, making it the biggest fundraise of the week.
• Fueled by Ather’s fundraise, the electric vehicle (cleantech) sector emerged as the most funded this week, securing $111 Mn across three deals.
• Ecommerce reported the highest deal count, securing $26.8 Mn. Notably, one-third of all funding deals were in the ecommerce sector, accounting for six out of the total 18 deals reported this week.
• After a lackluster performance in the past few weeks, the first week of September saw a marked resurgence in investor interest for seed funding. Over $20 Mn was raised across ten seed-stage funding deals.
• Elevation and Matrix Partners were the busiest investors this week as they participated in two deals each.

Startup Fund Launches This Week

• B2B SaaS-focused venture capital firm Pentathlon Ventures announced the launch of a second fund, Fund II, with a target corpus of INR 450 Cr. The fund plans to invest in 25 startups.
• Unicorn India Ventures announced the first close of its INR 1,000 Cr Fund III at INR 225 Cr. The VC firm is looking to close the fund by March 2024. The VC firm intends to invest in 25 startups from this fund.
• Soonicorn Ventures has received SEBI’s nod to launch an angel fund with a total corpus set at INR 250 Cr. It also has an additional INR 250 Cr green-shoe option. 
• National Real Estate Development Council (NAREDCO) Maharashtra has announced the launch of INR 50 Cr RealTech Fund to back proptech startups. 
• Anicut Capital has secured an investment of INR 50 Cr from the Small Industries Development Bank of India (SIDBI) for the Anicut Equity Fund.

Startup Acquisitions Of This Week

• Delhi NCR-based omnichannel meat brand Good To Go acquired Chennai-based meat delivery startup TenderCuts in a distress sale.
• Reliance Retail Ventures Limited (RRVL) is acquiring a majority stake (51%) in Alia Bhatt’s children’s wear D2C brand Ed-a-Mamma.
• Oneglint Media Solutions, a photography solutions company, acquired Memzo – an AI-powered photo-sharing product.
• PowerSchool, a cloud-based software for K-12 education, acquired Chennai-based enterprise resource planning software startup Neverskip for an undisclosed amount.
• After raising $2.5 Mn, Hybrid Shifting Solution is acquiring Pikkol, an AI-based technology-enabled logistics brand.
• GOAT Brand Labs has completed the acquisition of the remaining stake in Frangipani, in line with the terms initially set during their majority acquisition in 2021.

Other Major Developments From This Week

• Delhi NCR-based fintech unicorn BharatPe is in talks with existing investors to raise $100 Mn in a new round of funding. 
• Bhavish Aggarwal’s Ola Electric has reportedly raised $140 Mn in a funding round led by Singapore’s sovereign wealth fund Temasek with participation from other existing investors.
• The Odisha government has approved a grant worth INR 1.28 Cr for 10 startups with an aim to boost innovation and entrepreneurship in the state.

The post From Ather To Nazara — Indian Startups Raised $257 Mn This Week appeared first on Inc42 Media.

After a week of record-breaking investment, August ended on a quieter note with $341 Mn in startup funding. Following a surge in the third week of August, investment levels saw a significant decline in the fourth week. 

Between August 28 and September 2, Indian startups collectively secured $52 Mn across 12 deals — a 77.4% drop compared to the $231 Mn raised in the previous week, which also marked the emergence of a new unicorn after an 11-month hiatus. 

Funding Galore: Indian Startup Funding Of The Week [Aug 28 – Sept 2]

Key Startup Funding Highlights Of The Week

• Healthtech startup MediBuddy raised an additional funding of $18 Mn from its existing investors for strategic acquisitions, making it the biggest fundraise of the week.
• Boosted by Medibuddy’s investment, the healthtech sector emerged as the most funded this week, securing $18.5 Mn across two deals.
• Fintech and  enterprisetech were the front-runners with the highest deal count, securing $12.2 Mn and $4.5 Mn respectively across three deals each
• After a record seed funding of $14 Mn last week, this week, five early stage funding deals were recorded.

Other Major Developments From This Week

• The Indian government under the Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) will provide a grant of up to INR 50 Lakh to startups to promote technical textiles in the country.
• Venture capital (VC) firm gradCapital launched its second fund with a total size of $6 Mn to invest in student startups. 

The post From MediBuddy To SatSure — Indian Startups Raised $52 Mn This Week appeared first on Inc42 Media.

The startup ecosystem in India has experienced a significant funding resurgence this week, following its lowest weekly funding levels since 2020. 

From August 21 to 26, Indian startups collectively secured $231 Mn across 16 deals, marking a staggering 5,151% increase compared to the previous week’s modest $4.4 Mn raised over seven deals. 

This week also put an end to an 11-month dry spell without a new unicorn, as Zepto secured $200 Mn in a Series E round, becoming the first startup of 2023 to achieve a billion-dollar valuation. We had previously reported that Zepto was on track to enter the exclusive unicorn club last month.

Funding Galore: Indian Startup Funding Of The Week [Aug 21 – Aug 26]

Key Startup Funding Highlights Of The Week

• Quick commerce startup Zepto raised $200 Mn in a Series E round from StepStone Group, Goodwater Capital, making it the biggest fundraise of this week.
• This week, the consumer services sector secured $200 Mn in funding across two deals, making it the most funded sector. 
• Ecommerce emerged as the frontrunner with the highest deal count, securing $13.1 Mn across five deals.
• After recording a low of $1.9 M in seed funding the seed funding rose to $14 Mn.
• This week, Nexus Venture Partners was the busiest investor as it participated in two deals. 

Other Major Developments From This Week

• Tata-owned watchmaking giant Titan acquired an additional 27.18% stake in omnichannel jewellery startup CaratLane for a sum of INR 4,621 Cr, thus valuing the startup at around $2 Bn. This acquisition will result in Caratlane employees receiving INR 340 Cr to INR 380 Cr from ESOP buyback.
• Bengaluru-based early stage VC – Veda VC announced the first close of its INR 250 Cr fund led by family offices and startup CXOs. It will invest in technology and tech-enabled startups.
• Japan’s SoftBank has sold INR 435 Cr worth of its stakes in FirstCry to Manipal Group’s Ranjan Pai’s MEMG Family Office, Marico’s Harsh Mariwala’s investment office Sharrp Ventures and the DSP family office of Hemendra Kothari. 
• Westbridge Capital picked majority stake in digital investment platform FundsIndia for an undisclosed amount.
• According to media reports, PharmEasy is raising INR 3,500 Cr through a rights issue to repay a large portion of its debt to Goldman Sachs.
• Qatar Investment Authority is investing INR 8,278 Cr ($1 Bn) into Reliance Retail Ventures Limited (RRVL) for 0.99% stake.
• Ahead of IPO, Mamaearth is raising about $120 Mn – $150 Mn in a new funding round at a valuation of $1.5 Bn. The unicorn is in talks with SoftBank, Singapore’s GIC, Qatar Investment Authority, and Fidelity Investments for this fundraise.

The post From Zepto To GradRight — Indian Startups Raised $231 Mn This Week appeared first on Inc42 Media.

During the third week of August, a significant decline in capital inflow hit the Indian startup ecosystem. Funding for Indian startups in this week amounted to only $4.4 Mn across seven deals, indicating a possible nadir in weekly funding not witnessed since 2020.

This week’s funding marks a staggering 95% drop compared to the collective $95 Mn raised by startups in the previous week across 17 deals.

Funding Galore: Indian Startup Funding Of The Week [Aug 14 – Aug 19]

Key Startup Funding Highlights Of The Week

• Speech AI startup Contiinex raised $2 Mn in Pre-Series A funding round from YourNest and Refex Capital, making it the biggest fundraise of this week.
• This week, the enterprisetech sector secured $2.5 Mn funding, making it the most funded sector. 
• Fintech emerged as the frontrunner with the highest deal count, securing $1.4 Mn across three deals.
• After recording $11.4 Mn last week, the seed funding plummeted to $1.9 Mn across three deals.

Startup Acquisitions Of This Week

• Logistics unicorn Xpressbees acquired New Delhi-based courier firm Trackon in an all-cash transaction to enter the SME courier space.
• InMobi has acquired San Francisco-based adtech company Quantcast Choice – a consent management platform (CMP) for an undisclosed amount.
• Former BharatPe cofounder Bhavik Koladiya-led venture capital firm Finix Partners has reportedly acquired fintech startup Slash.

Other Major Developments From This Week

• Bengaluru-based hyperlocal delivery startup Dunzo is in advanced talks to raise $100 Mn in its Series G round of funding. 
• Nazara Technologies has invested $500K (about INR 4.15 Cr) in Israel-based game developer Snax Games Ltd via its wholly-owned Singapore-based subsidiary Nazara PTE Ltd.
• BHIVE is launching a new coworking-focussed category II alternative investment fund (AIF) of INR 400 Cr.
• Singapore-based healthech investor HealthXCapital (HXC) has merged with marquee venture capital (VC) firm Jungle Ventures.
• Weeks after completely exiting Flipkart with $1 Bn – $1.5 Bn, Binny Bansal is planning to launch a startup in cross-platform ecommerce space.
• Peak XV Partners has signed ten term sheets in the first ten weeks since the split from its US-based parent Sequoia Capital.
• Serial entrepreneur Mukesh Bansal is in talks to raise $50 Mn in Series A funding from Peak XV Partners for his new venture in the premium fashion space.

Update | 21st August, 13:20

Headline updated to include the value of the funding.

The post Indian Startup Funding Hits A New Low — Just $4.4 Mn Raised This Week appeared first on Inc42 Media.

After a sluggish start in terms of overall funding raised in August, the second week of the month appears to be a sigh of relief for the country’s startup ecosystem. 

During the period from August 7 to August 12, 2023, Indian startups have raised a total funding of $95 Mn across 17 deals, marking a 763% increase from the $11 Mn raised between July 31 and August 5, 2023, and a 126% increase from the $42 Mn raised between July 24 and July 29, 2023.

Key Startup Funding Highlights Of The Week

• Debt collection startup Credgenics raised $50 Mn in Series B funding round led by Westbridge Capital, and Accel, making it the biggest fundraise of this week
• This week, the fintech sector secured a whopping $55 Mn in funding, making it the most funded sector. 
• Ecommerce emerged as the frontrunner with the highest deal count, securing $4.3 Mn across six deals.
• After a week of minimal seed funding, this week the seed funding reported $11.4 Mn across eight deals
• Bombay Shaving Company founder Shantanu Deshpande proved to be the busiest investor, with two funding announcements for the week.

Startup Acquisitions Of This Week

• Enterprise upskilling startup Expertrons acqui-hired Bengaluru-based HRTech platform Foxmula.
• Ananya Birla-led Svatantra Microfin has signed a definitive agreement to acquire Chaitanya India Fin Credit Pvt Ltd for INR 1,479 Cr. 
• AnotherAcquisition acquired Delhi NCR-based AI-powered email solutions provider Nyxion.ai for an undisclosed amount.
• Bengaluru-headquartered GPS Renewables acquired Germany-based Proweps Envirotech GmbH.
• Global investment firm KKR is acquiring a majority stake in Indian pallet pooling platform LEAP India for an undisclosed amount.

Other Major Developments From This Week

• South Korean gaming giant KRAFTON has announced to invest $150 Mn in India over the next two to three years.
• Zerodha’s investment arm Rainmatter has earmarked an additional INR 1,000 Cr capital to invest in sectors such as health, education, and climate change.
• Japanese mobile entertainment company MIXI announced the launch of a $50 Mn corporate venture capital fund in India. The fund will invest in early stage entertainment and consumer services startups.

The post From Credgenics To Disprz — Indian Startups Raised $95 Mn This Week appeared first on Inc42 Media.

The first week of August proved to be disastrous for Indian startups in terms of funding raised. Between July 31 and August 5, Indian startups managed to secure a meager $11.5 Mn across nine deals, making it one of the lowest funding amounts raised in a week since 2020. 

This week’s funding is 73% and 89.6% lower than $42 Mn and $111 Mn raised by Indian startups in July last and third week respectively. 

Key Startup Funding Highlights Of The Week

• The biggest funding round was raised by community engagement and hiring startup — Unstop. It raised $5 Mn in a funding round led by Japan-based job board Mynavi.
• With $7 Mn in total funding, enterprise tech sector secured the maximum funding
• Ecommerce, enterprisetech, and fintech recorded two deals each.

Startup Fund Launches This Week

• Bengaluru-based growth venture capital firm Elev8 Venture Partners has announced the first close of Elev8-Capital Fund 1 at $67 Mn. It plans to participate in Series B and Series C funding rounds (typically in the range of $10 Mn to $15 Mn) of startups in sectors such as consumer tech, enterprise software, fintech, and healthtech.
• pi Ventures announced the final close of its second fund with a total commitment of INR 702 Cr ($85 Mn). The fund will invest in startups working in spacetech, biotech, blockchain, and material science, among others.
• Former BharatPe executive Pratekk Agarwaal launched GrowthCap Ventures, a SEBI-registered category II alternative investment fund (AIF) and is now looking to raise INR 50 Cr to invest in early stage startups. 

Startup Acquisitions Of This Week

• Public listed EaseMyTrip will be acquiring 51% stake each in three Indian travel companies – Mumbai-based Guideline Travels Holidays, Jammu & Kashmir-based TripShope Travel Technologies, and New Delhi-headquartered Dook Travels.
• Global investment firm KKR is acquiring a majority stake in Indian pallet pooling platform LEAP India for an undisclosed amount.

Other Major Developments From This Week

• Yudiz Solutions, a blockchain, artificial intelligence and game development company went to public listing on August 4th  to raise INR 44.84 Cr via the IPO.
• Foodtech major Zomato which turned profitable in Q1 of FY24 is allotting INR 2.52 Cr shares as employee stock option plans (ESOPs) to select employees of the company and its subsidiaries.
• The Netherlands-based investment firm Prosus said PayU is selling a part of its business to Israel’s Rapyd for $610 Mn to focus on the Indian market.
• Firstrcry’s logistics arm – Xpressbees is reportedly in talks with the Ontario Teachers’ Pension Plan Board to raise $100 Mn.

The post Indian Startup Funding Hits A Snag — Only $11 Mn Raised This Week appeared first on Inc42 Media.

After witnessing a pronounced V-shaped recovery in the third week of July, the Indian startup ecosystem witnessed a significant drop in funding between July 24 and July 29. In this week, Indian startups managed to raise a mere $42 Mn in funding across 16 deals. This is a 62% drop from $111 Mn raised by Indian startups between July 17 and July 22, 2023 across 19 deals. 

Further, this week’s funding is also 50% lower than the $85 Mn raised between July 10 and July 15, 2023 across 17 deals. 

Key Startup Funding Highlights Of The Week

• Delhi-based telecom startup Wiom raised INR 140 Cr ($17.1 Mn) in a Series A funding round led by RTP Global, making it the biggest fundraise of this week
• Deeptech sector raised the highest amount of funding at $8.3 Mn this week across three deals
• With five deals, enterprisetech sector reported the highest number of investment deals with $4.6 Mn funding
• Early-stage startup funding dropped by 84% to $1.3 Mn this week from $8.1 Mn last week 
• Hyderabad Angels was the busiest investor of this week as it participated in three deals. 

Startup Acquisitions Of This Week

• Pantomath Financial Services Group acquired a 75% stake in global deal-making marketplace fundgini.com for an undisclosed amount
• FMCG major Marico signed a definitive agreement to acquire 58% – a majority stake – in D2C nutrition brand Plix for INR 369.01 Cr. 

Other Major Developments From This Week

• Girish Mathrubootham led Together Fund announced the first close of its $150 Mn second early stage fund, Together Fund II, which is focussed on SaaS and AI startups 
• GreenCell Mobility secured a debt funding of INR 3,000 Cr from state-owned REC Ltd (formerly Rural Electrification Corporation Limited)
• In a major development, troubled edtech decacorn BYJU’S lenders had reached a consensus in restructuring its $1.2 Bn term loan B 
• Food delivery giant Swiggy initiated the second tranche of its ESOP liquidity programme worth $50 Mn that will benefit around 2,000 employees
• EV startup Zypp Electric announced an ESOP buyback programme worth INR 1.5 Cr that will benefit 15 employees. 

The post From Wiom To Kapture CX — Indian Startups Raised $42 Mn This Week appeared first on Inc42 Media.

The third week of July has witnessed a pronounced V-shaped recovery after a drop in funding momentum last week. Between July 17 and July 22, 2023, the startup ecosystem has raised $111 Mn funding across 19 deals. This is a 30.5% jump from $85 Mn funding raised by Indian startups last week across 17 deals.

However, this week’s funding is 28.3% lower than the $155 Mn raised by Indian startups between July 3 and July 8, 2023. 

Key Startup Funding Highlights Of The Week

• RenewBuy has bagged $40 Mn in its Series D funding round from Japanese insurance major, Dai-ichi Life Holdings, Inc. making it the biggest fundraise of this week
• Fintech sector raised the highest amount of funding at $47.2 Mn this week across four deals
• With six deals, ecommerce sector reported the highest number of investment deals with $43.2 Mn funding
• Early-stage startup funding stood at $8.1 Mn this week, a 237% jump as compared to the last week where early stage funding was $2.4 Mn.

Startup Acquisitions Of This Week

• Fashion startup Styched acquired online casual sneaker startup Flatheads for an undisclosed amount
• Bureau, a fraud detection startup besides raising an extended Series A funding round this week also has completed the acquisition of Y-Combinator backed identity verification startup inVOID
• Y Combinator-backed Decentro acquired Mumbai-based SaaS fintech platform Neowise Technologies for an undisclosed amount in a cash and share deal
• Plus91Labs, a cloud consulting and IT service,  acquired Pixely, a company specialising in customised solutions for the Southeast Asian market.

Other Major Developments From This Week

• Reliance Brands is in talks to acquire Bollywood actress Alia Bhatt’s children’s wear brand, Ed-a-Mamma for INR 300 Cr – 350 Cr
• Troubled quick commerce startup Dunzo is trying to raise $20 Mn from its existing backer Reliance Retail
• Ravi Lambah, sovereign fund Temasek’s India head and head of the investment group said that the fund intends to invest $9-10 Bn in India over the next three years 
• Beleaguered PharmEasy is in talks to raise INR 2,000 Cr-INR 3,000 Cr to repay the loan it took from Goldman Sachs.

The post From RenewBuy To Ati Motors— Indian Startups Raised $111 Mn This Week appeared first on Inc42 Media.

After a relatively better week, the capital infusion dropped in the second week of July, further indicating that funding winter is here to stay. This week, Indian startups collectively raised around $85.4 Mn across 17 deals. This is a 45% drop from the $155 Mn raised by Indian startups between July 3 and July 8, 2023. 

However, this week’s funding is 31.3% higher than $65 Mn raised by Indian startups across 42 deals in the last week of June. 

Key Startup Funding Highlights Of The Week

• LetsTransport secured $25 Mn funding in a round led by Bertelsmann India, making it the biggest fundraise of this week
• Logistics sector raised the highest amount, a $27.2 Mn funding this week across two deals
• Ecommerce sector recorded the highest number of four deals this week and raised $19.3 Mn funding
• Early-stage startup funding stood at $2.4 Mn this week, a 59% drop as compared to the last week where such startups raised $6 Mn
• LetsVenture and Venture Catalysts are the two most active investors of this week with two deal participation each.

Startup Fund Launches This Week

• Vertex Ventures, VC arm of Temasek, has marked the first close of its latest fund, Vertex Master Fund III, at around $900 Mn
• Hosts of the 100x Entrepreneur podcast – Neon Show, have launched a new $25 Mn fund, the Neon show, to invest in B2B SaaS startups
• Micro VC fund CapFort Ventures launched an INR 200 Cr India-focussed tech fund and plans to invest in 40 startups in the next two years.

Startup Acquisitions Of This Week

• US-based Cilio Technologies has acquired Delhi-NCR-based AutomationFactory.AI for an undisclosed amount
• Food delivery giant Swiggy has acquired FMCG retail distribution company LYNK Logistics Ltd for an undisclosed amount
• D2C meat delivery startup ZappFresh has acquired Dr. Meat, a brand operated by Sukos Foods 
• Let’s Work, a Delhi-based co-working space is going to get acquired by angel investors for an undisclosed amount
• CarTrade announced the complete acquisition of OLX India’s operations for INR 537.4 Cr.

Other Major Developments From This Week

• Walmart-backed Flipkart initiated releasing cash compensation worth $700 Mn to its employees as part of the PhonePe demerger
• Vivriti Capital-backed Yubi’s valuation has soared to $1.5 Bn from $1.2 Bn following a secondary share sale
• Wipro along with launching Wipro ai360, a comprehensive, AI-first innovation ecosystem, has also announced making a $1 Bn investment in improving AI capabilities over the next three years 
• Quick commerce delivery startup Zepto is likely to become the first unicorn of 2023 as it is in the final stages of raising $150 Mn at $1.3 Bn valuation
• Nazara Technologies said its board has approved a proposal to raise up to INR 750 Cr via qualified institutional placement, or preferential allotment, or a combination of both
• Sachin Bansal’s Navi Finserv is raising up to INR 500 Cr through the public issue of Non-Convertible Debentures (NCDs). 

The post From LetsTransport To SmartDukaan— Indian Startups Raised $85 Mn This Week appeared first on Inc42 Media.

The month of July kicked off on a relatively better note than the previous month in raising funds. This week, Indian startups have raised $155 Mn funding across 15 deals, which is a 138% jump from the previous week where startups collectively raised $65 Mn across 42 deals. 

This week’s funding is also a little over 4% higher than the $149 Mn funding raised by Indian startups between June 19 and June 24, 2023.

Key Startup Funding Highlights Of The Week

• Delhi NCR-based edtech startup Leverage Edu has raised $40 Mn in its Series B round of funding led by ETS, making it the biggest fundraise of this week.
• After a prolonged gap, Edtech, which is one of the worst hit sectors by the ongoing funding winter– has once again topped the charts in securing funds this week. The sector has raised $40.4 Mn across two deals.
• The enterprisetech sector recorded three deals this week – the highest in terms of deal counts – and raised $37.7 Mn funding.
• Early-stage startup funding stood at $6 Mn this week, a 73% drop in funding as compared to the last week where such startups raised $24 Mn.
• The most active investor this week was Blume Ventures as it participated in four deals.

Startup Fund Launches This Week

• Mumbai-based Varanium Capital announced the first close of its maiden venture debt fund with a target corpus of INR 250 Cr, and a greenshoe option of INR 50 Cr. It said it intends to back 100 startups in India via revenue-based financing and traditional venture debt.
• Zerodha’s Nikhil Kamath and Abhijit Pai’s Gruhas in collaboration with Collective Artists Network have launched a startup fund to invest in consumer-facing brands and products. The fund intends to invest up to $1 Mn in 10 startups. 

Startup Acquisitions Of This Week

• Sachin Tendulkar-backed JetSynthesys acquired KidzByte, an educational news and knowledge media platform for kids.
• Digital counselling and test prep platform Toprankers acquired Indore-based The Lex Guru for an undisclosed amount to expand its reach in Madhya Pradesh, Chhattisgarh and other neighbouring regions.

Other Major Developments From This Week

• Climate-focussed non-profit organisation Massive Earth Foundation has launched a climate tech accelerator program Low Carbon Earth (LCE), 2023, in partnership with the United Nations Environment Programme (UNEP), to help startups that are solving climate change and pollution problems.
• Troubled BNPL startup ZestMoney is likely to receive $5 Mn – $7 Mn funding from its existing investors including Quona Capital to stay afloat.
• Earlier this week, Google announced 20 Indian startups which have been selected for the seventh class of its Google for Startups Accelerator: India programme. Here’s a list of the selected 20 startups.
• PharmEasy is reportedly in talks to raise over INR 2,400 Cr at a 90% discount from its peak $5 Bn valuation to repay the loan it took from Goldman Sachs.

The post From Leverage Edu To GIVA — Indian Startups Raised $155 Mn This Week appeared first on Inc42 Media.

The month of June ended on a bleak funding front. Between June 26 and July 1, 2023, Indian startups managed to raise a mere $65 Mn across 42 deals. This is a 56% fall from the $149 Mn funding the Indian startup ecosystem raised across 20 deals in the past week. 

This week’s funding is a further 65.7% drop in funding when compared to the $190 Mn raised by Indian startups collectively across 21 deals between June 12, and June 17, 2023. 

Key Startup Funding Highlights Of The Week

• Bengaluru-based lendingtech startup Lendingkart bagged the biggest cheque worth $24 Mn in a debt round from EvolutionX Debt Capital 
• The fintech sector topped the chart with $33 Mn in funding raised this week across three deals 
• Next, the ecommerce sector bagged 14 deals – the highest in terms of deal count – with a just $9.4 Mn funding 
• Early-stage startup funding saw an incremental rise in raising funds this week with $25.3 Mn investments; a whopping 200% jump from the $8.1 Mn raised last week. 

Startup Fund Launches This Week

• Early stage VC Good Capital launched its second fund with a target corpus of $50 Mn with a green shoe option of $25 Mn to back startups working with AI to solve distribution, personalisation, and business operations
• RTP Global, which backs Indian unicorns including CRED, Rebel Foods, among others, announced its latest fund – RTP IV with a corpus of $1 Bn. The fund will invest in Asia, Europe, and the US 
• Mumbai-based agri-focussed VC Omnivore announced closure of its third fund – the Omnivore Agritech & Climate Sustainability Fund – at $150 Mn
• Epiq Capital announced the closing of its fund – Epiq Capital II at $225 Mn. The VC firm will be participating in ten deals with a check size between $20 Mn- $25 Mn 
• Arkam Ventures launched a second fund with a target corpus of $180 Mn
• Dallas Venture Capital (DVC) announced securing INR 60 Cr commitments from Self Reliant India Fund and NewcrestImage for its INR 350 Cr India-focussed fund.

Startup Acquisitions Of This Week

• Coromandel International will pick up an additional 32.68% stake in drone manufacturer Dhaksha Unmanned Systems in an all-cash deal worth INR 204 Cr.
• Construction materials unicorn Infra.Market is acquiring a majority stake in Strata Geosystems for INR 910 Cr ($110 Mn) from the US-based Glen Raven Technical Fabrics

Other Major Developments From This Week

• Gurugram-based founders’ community PedalStart launched One-to-N, a 6-9 months long domain agnostic cohort. The selected startups will further receive $100K as a direct investment from PedalStart
• Six  Indian startups have received grants from Maruti Suzuki’s Nurture program, Grand Idea Hunt. Here’s a list of all the winners. 
• Rajesh Sawhney-led GSF has invested around INR 1- 2 Cr each in five Indian startups as part of its winter cohort. Click the link here to read more on this
• Ronnie Screwvala-led upGrad is reportedly in talks to acquire US-based Udacity to further strengthen its foothold in the foreign land.
• The Netherlands-based Prosus has written off its entire investment worth $38 Mn in the troubled BNPL startup ZestMoney.

The post From Lendingkart To Scapia — Indian Startups Raised $65 Mn This Week appeared first on Inc42 Media.

During the third week of June, the Indian startup ecosystem experienced a dip in total funding raised. From June 19 to June 24, Indian startups secured $149 Mn across 20 deals.

This week’s funding is a 21.5% drop compared to $190 Mn raised between June 12 and June 17. However, this week’s funding is 13% higher than $132 Mn raised between June 5 and June 10, 2023. 

Key Startup Funding Highlights Of The Week

• Bengaluru-based pet food brand – Drools–  raised $60 Mn from L Catterton at around $600 Mn valuation. 
• Ecommerce sector secured the top position both in terms of funding amount and deals.  The sector bagged $66.8 Mnr across six deals.
• Early-stage startup funding saw a gradual increase as compared to the previous week. This week, early stage startups raised $8.1 Mn across seven deals, a 20% increase from $6.7 Mn reported a week prior
• Kunal Shah, Gemba Capital, and ah! Ventures were the busiest investors this week as they participated in two deals each. 

Startup Acquisitions Of This Week

• Google-backed Adda247 acquired Ahmedabad-based Veeksha for an undisclosed amount to offer interactive learning modules to the students.
• Edtech unicorn Unacademy Groups’ Graphy acquired community platform Scenes for an undisclosed amount.
• Fintech unicorn CRED has acquihired Y Combinator-backed micro-savings platform Spenny.

Other Major Developments From This Week

• Airavat Capital announced the launch of a global technology fund, Airavat Global Technology Fund R (AGTF R) based out of GIFT City. The fund has already received an interest worth over $40 Mn.
• Climate-focussed VC firm Avaana Capital has raised $70 Mn in first close of Avaana Climate and Sustainability Fund and is targeting a total corpus of $100-125 Mn for the same.
• Blume Ventures announced the first close of its new opportunity-cum-continuity fund, Fund 1Y and has already raised INR 200 Cr of the INR 400 Cr target corpus for the round.
• Gaming-focused venture capital Lumikai announced the launch of its second fund with a total corpus of $50 Mn.
• IPO-bound drone startup ideaForge has raised INR 255 Cr from anchor investors.
• Early stage VC 100X.VC announced a new portfolio of 22 startups that it has funded with $3.4 Mn worth of capital. Here’s the complete list of startups in the cohort. 

The post From Drools To Digantara — Indian Startups Raised $149 Mn This Week appeared first on Inc42 Media.

Indian startups fared better in raising funds in the second week of June after two consecutive weeks. Between June 12 and June 17, Indian startups have collectively raised $190 Mn across 21 deals. This is a 44% jump  from $132 Mn funding raised by Indian startups last week across 19 deals. 

However, this week’s funding is 9% lower than $209 Mn raised by Indian startups collectively between May 29 and June 3 across 13 deals.

Key Startup Funding Deals Of This Week

• Continuing its fundraising spree, eyewear unicorn Lenskart now secured $100 Mn investment from ChrysCapital, thus taking its total capital infusion to nearly $850 Mn within the past one year
• Ecommerce sector secured the top position with raising $110 Mn funding across five deals
• Early-stage startups funding dropped to $6.7 Mn this week as compared to an exceptionally high $18.6 Mn raised in the previous week 
• NABVENTURES and Rainmatter Health were the busiest investors this week as they participated in two deals each. 

Startup Acquisitions Of This Week

• Tiger Global-backed SaaS startup UrbanPiper acquired Ordermark’s US business for an undisclosed amount
• Marketing startup Wondrlab acquired a majority stake in a Salesforce consulting and data analytics platform – Cymetrix
• Adani Enterprises’ wholly-owned subsidiary Adani Digital Labs signed an agreement to acquire railway ticketing startup Trainman.

Other Major Developments From This Week

• Lee Fixel’s VC firm Addition, which invested in Delhivery,  plans to raise $1.5 Bn as part of its new fund
• Bengaluru-based CaHa Capital launched a climate tech and climate finance-focussed venture studio, VAIA Climate Studio and plans to raise a maiden fund of $25 Mn for it
• South Korea Mirae Global has infused INR 1,240 Cr into its Indian arm, Mirae Asset Capital Markets to scale its brokerage platform m.Stock
• Proparco, a subsidiary of Agence Française de Développement Group, has invested $35 Mn in private equity (PE) firm Quadria Capital.

The post From Lenskart To Indifi — Indian Startups Raised $190 Mn This Week appeared first on Inc42 Media.

The first week of June again witnessed a downward funding trend. Between June 5 and June 10, the Indian startups have collectively raised $132 Mn across 19 deals. This is a 37% drop from the $209 Mn, Indian startups collectively raised across 13 deals in the last week. 

To further give comparison, this week’s total funding is 72% lower than the $476 Mn raised by Indian startups across 16 deals between May 22 and May 27, 2023. 

Key Startup Funding Deals Of This Week

• Bengaluru-based fitness startup HealthifyMe raised $30 Mn in its Pre-Series D funding round led by LeapFrog Investments and Khosla Ventures
• Enterpristech secured the top position in terms of total funding raised this week. The sector mopped $38 Mn across 3 deals. 
• The Fintech sector witnessed the highest number of deal counts this week. The sector raised $34 Mn across four deals.
• Early-stage startups reported an exponential rise with $18.6 Mn funding this week, a 173% jump from the $6.8 Mn raised last week.

Startup Acquisitions Of This Week

• GoKwik has acquired chat commerce startup Tellephant for an undisclosed amount
• Fintech startup CredFlow acquired Y Combinator-backed business management startup TechBiz in an all-cash deal
• Bengaluru-based Capillary Technologies marked its third US acquisition with Tenerity’s product Digital Connect 
• Identity theft protection platform IDfy acqui-hired the team of SaaS platform – Salesroom
• VLCC to acquire men’s grooming D2C brand Ustraa or an undisclosed amount.

Other Major Developments From This Week

• AWE Funds has announced the first close of its maiden fund in India – the Achieving Women Entrepreneurs Early Growth Fund I – at $15 Mn
• Mumbai-based B2B payments solutions provider PayMate is likely to refile its Draft Herring Red Prospectus (DRHP) with the market regulator SEBI within the next 90 days
• This week, Sequoia Capital announced a major rebranding and separation exercise, with Sequoia India & Southeast Asia being renamed as Peak XV Partners 
• Edtech decacorn BYJU’S said it will launch the initial public offering (IPO) of its subsidiary Aakash Educational Services Limited (AESL) around mid-2024. 
• Healthcare venture studio 2070 Health raised $30 Mn as part of its seed funding round from US-based venture capital firm W Health Ventures.

The post From HealthifyMe To RevSure.AI — Indian Startups Raised $132 Mn This Week appeared first on Inc42 Media.

After witnessing a sustained upward funding trend over the past couple of weeks, the last week of May plummeted again. Between May 29 and June 3, 2023, the Indian startups collectively raised $209 Mn across 13 deals, which is relatively better than most of the weeks since the onset of the funding winter. However, this week’s funding is 56% lower than the $476 Mn raised across 16 deals last week.

Still, this week’s funding is 22% higher than $171 Mn raised by Indian startups between May 15 and May 20 across 18 deals.

Key Startup Funding Deals Of This Week

• Consumer appliances brand Atomberg bagged $86 Mn in its Series C round of funding from Google -– making it the biggest fundraiser of this week 
• Ecommerce secured the top spot this week with $86 Mn funding
• In total deal count, fintech sector clinched the first spot with three deals and $6.5 Mn funding
• Early-stage startups reported an incremental rise in funding with $6.8 Mn this week, a 152% jump from $2.7 Mn raised last week.

Startup Acquisitions Of This Week

• Sequoia-backed MedGenome has acquired Prognosis Laboratories to expand its geographical presence for an undisclosed amount  
• Bengaluru-based upskilling edtech soonicorn Scaler acquired Delhi-based Pepcoding for an undisclosed amount
• Once a popular marketplace for home rental – NestAway is undergoing a possible distressed sale. Aurum PropTech’s board approved the acquisition of NestAway for $10.93 Mn

Other Major Developments From This Week

• Early stage VC Aeravti Ventures announced the first close of its maiden INR 100 Cr fund focussed on emerging tech startups
• Info Edge, one of the largest investors in Rahul Yadav’s 4B Networks, has hired Deloitte to initiate a forensic audit into the proptech startup
• This week, US AMC BlackRock reduced BYJU’S valuation by 62% to $8.3 Bn, whereas, Janus Henderson has reduced PharmEasy’s valuation by 52% to $2.7 Bn from $5.6 Bn 
• SaaS unicorn Gupshup also got impacted by the valuation markdown. The US-based asset management company (AMC) Fidelity Investments slashed the unicorn’s valuation by 31.6% to $957 Mn.

The post From Atomberg To Pixxel — Indian Startups Raised $209 Mn This Week appeared first on Inc42 Media.