Indian startups raised $44 Mn across 10 funding deals, a 72% week-on-week decline
Agritech startup DeHaat acquired the fruit export business of Ahmedabad-based listed fruit export firm Freshtrop Fruits in an all-cash deal
Bhavish Aggarwal’s Ola Electric has converted into a public entity, a mandatory step required before filing IPO papers
Following two weeks of substantial growth in startup ecosystem funding, the third week of November experienced a significant decline.
Between November 13 and 18, the startup ecosystem collectively raised $44 Mn across 10 deals, marking a 72% decrease from the previous week’s $159 Mn raised across 18 deals.
Funding Galore: Indian Startup Funding Of The Week [Nov 13 – Nov 18]
|Date||Name||Sector||Subsector||Business Model||Funding Round Size||Funding Round Type||Investors||Lead Investor|
|13 Nov 2023||Bakingo||Ecommerce||D2C||B2C||$16 Mn||–||Faering Capital|
|14 Nov 2023||Slice||Fintech||Lendingtech||B2C||$9 Mn||Debt||Stride Ventures|
|15 Nov 2023||CoverSelf||Fintech||Insurtech||B2B||$8.2 Mn||Seed||3one4 Capital, BEENEXT, Z21 Ventures||3one4 Capital, BEENEXT|
|16 Nov 2023||Inito||Healthtech||Medtech||B2C||$6 Mn||Series A||Fireside Ventures||Fireside Ventures|
|13 Nov 2023||General Autonomy||Deeptech||Hardware & IoT||B2B||$3 Mn||Seed||India Quotient, Elevation Capital, Srinath Ramakkrushnan, Ramakant Sharma, Ankush Sachdeva||India Quotient, Elevation Capital|
|16 Nov 2023||Centa||Edtech||Online Certification||B2B-B2C||$1 Mn||–||Leo Puri, Pankaj Sahini, Bahram Vakil, Nikhil Mohta|
|13 Nov 2023||SecurWeave||Enterprisetech||Horizontal SaaS||B2B||$336K||Seed||IAN, Romesh Sobti, Uday Chatterjee, Nagendra P Bandaru, Prakash||IAN|
|14 Nov 2023||Breathe ESG||Enterprisetech||Horizontal SaaS||B2B||$315K||Seed||100X. VC, KANJ Realty Ventures, Hyderabad Angels||100X. VC|
|16 Nov 2023||Happy Nature||Ecommerce||D2C||B2C||$300K||Pre-Series A||IPV|
|17 Nov 2023||Airattix||Logistics||Storage Services||B2B-B2C||$276K||Pre-Series A||–||–|
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
- Bakery goods startup Bakingo raised $16 Mn funding from private equity firm Faering Capital, making it the biggest funding deal of the week.
- Fuelled by Slice and CoverShelf’s funding, the fintech sector emerged as the most funded sector this week, raising $17.2 Mn across two deals.
- The ecommerce and fintech witnessed the most number of deals – two each. While enterprisetech startups bagged $16.3 Mn, startups in the fintech sector raised $17.2 Mn.
- Seed funding saw an astronomical rise with $11.8 Mn in funding across four deals.
Startup Acquisitions This Week
- Media-focussed SaaS unicorn Amagi acquired UK-based Tellyo’s business for an undisclosed amount.
- Agritech startup DeHaat acquired the fruit export business of Ahmedabad-based listed fruit export firm Freshtrop Fruits in an all-cash deal.
Other Major Developments From This Week
- Ranjan Pai’s family office acquired the $250 Mn debt availed by BYJU’S offline coaching arm Aakash Educational Services Limited (AESL) from Davidson Kempner.
- Traveltech SaaS startup RateGain has launched a qualified institutional placement (QIP) to raise fresh capital worth INR 600 Cr.
- Bhavish Aggarwal’s Ola Electric has converted into a public entity, a mandatory step required before filing IPO papers.
- Lendingtech startup Moneyboxx Finance is set to raise INR 70 Cr ($9 Mn) from HNIs and family offices as a part of a strategic investment.