From Bakingo To Slice — Indian Startups Raised $44 Mn This Week

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]

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.

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