Indian startups raised $133 Mn across 18 funding deals, a decline of 71% week-on-week
Peyush Bansal’s Lenskart acquired AI-powered computer vision startup Tango Eye for an undisclosed amount.
Karnataka-based precision manufacturing startup Aequs raised $54 Mn in a funding round led by Amansa Capital, making it the biggest funding deal this week
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]
|Date||Name||Sector||Subsector||Business Model||Funding Round Size||Funding Round Type||Investors||Lead Investor|
|30 Oct 2023||Aequs||Enterprisetech||Horizontal SaaS||B2B||$54 Mn||–||Amansa Capital, Steadview Capital, Catamaran, family office of N. R. Narayana Murthy, Sparta Group, Amicus Capital||Amansa Capital|
|30 Oct 2023||Skyroot Aerospace||Deeptech||Spacetech||B2B||$27.5 Mn||Pre-Series C||Temasek||Temasek|
|31 Oct 2023||Vridhi Home Finance||Fintech||Lendigntech||B2B-B2C||$18 Mn||Series A||Elevation Capital||Elevation Capital|
|31 Oct 2023||Sugar.fit||Healhtech||Fitness & Wellness||B2C||$11 Mn||Series A||Cure.fit, Tanglin Venture Partners, Endiya Partners|
|2 Nov 2023||Fibmold||Enterprisetech||Enterprise Services||B2B||$10 Mn||–||Omnivore, Accel|
|2 Nov 2023||Growcoms||Agritech||Market Linkage||B2B||$3.5 Mn||–||JSW Ventures, Arali Ventures, InfoEdge Ventures|
|30 Oct 2023||Sweet Karam Coffee||Ecommerce||D2C||B2C||$1.5 Mn||–||Fireside Ventures|
|31 Oct 2023||Infurnia||Real Estate Tech||Real Estate SaaS||B2B||$1.2 Mn||–||Yogesh Choudary|
|30 Oct 2023||Funstop Games||Media & Entertainment||Gaming||B2C||$1.5 Mn||–||Info Edge Ventures||Info Edge Ventures|
|1 Nov 2023||The 1% Club||Edtech||Skill Development||B2C||$1.2 Mn||Pre-Series A||Gruhas|
|1 Nov 2023||Mikro Grafeio||Real Estate Tech||Shared Spaces||B2B||$1.2 Mn||Pre-Series A|
|2 Nov 2023||FroGo||Ecommerce||B2C Ecommerce||B2C||$1.15 Mn||Seed||IPV, Ritesh Agarwal, Ankit Nagori, Desai Ventures, FAAD Network||IPV|
|31 Oct 2023||Fresh Bus||Travel Tech||Transportech||B2C||$901K||Seed||Kunal Shah, Sudarshan Venu, Deepak Garg|
|1 Nov 2023||Klassroom Edutech||Edtech||Edtech SaaS||B2B||$450K||–||ah! Ventures|
|3 Nov 2023||Bull Agritech||Agritech||Market Linkage||B2B-B2C||$100K||Seed||PedalStart|
|3 Nov 2023||Backlight Studio Works||Media & Entertainment||Gaming||B2C||–||–||Udyat Ventures, Manish Agarwal, Polygon Ventures, Dexter Ventures|
|31 Oct 2023||Fruitfal||Agritech||Market Linkage||B2B||–||–||India Accelerator|
|1 Nov 2023||MyEra||Enterprisetech||Vertical SaaS||–||–||EvolveX|
*Part of a larger round
Note: Only disclosed funding rounds have been included
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)