From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week

From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week

SUMMARY

Indian startups raised $119 Mn across 11 funding deals, marking a 38% week-on-week decrease

After receiving an RBI approval, fintech unicorn slice will be merging with North East Small Finance Bank (NESFB)

Fuelled by Bizongo and Mensa Brands’ fundraise, the ecommerce sector emerged as the most funded sector this week, securing $91.4 Mn across four deals

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]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
4 Oct 2023 Bizongo Ecommerce B2B Ecommerce B2B $50 Mn Series E Schroder Adveq, IFC, Chiratae Ventures, B Capital, British International Investment Schroder Adveq
5 Oct 2023 Mensa Brands Ecommerce Roll Ups B2C $40 Mn Debt EvolutionX Debt Capital
5 Oct 2023 Bolt. Earth Cleantech Electric Vehicle B2B-B2C $20 Mn Series B Union Square Ventures, Prime Venture Partners, ITIGO Funds
4 Oct 2023 DPDzero Fintech Fintech SaaS B2B $3.25 Mn Seed Blume Ventures, India Quotient, Sunil Gulati, Nikhil Kumar Blume Ventures, India Quotient
4 Oct 2023 ClearFeed Enterprisetech Horizontal SaaS B2B $2.7 Mn Seed Peak XV’s Surge, 8VC Peak XV’s Surge
3 Oct 2023 The Cube Club Ecommerce D2C B2C $1.1 Mn Seed Harsh Jain, Salagaocar Family Office, Siddharth Ladsariya, Rajeev Sahney
3 Oct 2023 Roopya Fintech Fintech SaaS B2B $601K Seed 100X.VC
4 Oct 2023 Altitude Fintech Investment Tech B2C $500K Seed
5 Oct 2023 Answer Genomics Healthtech Fitness & Wellness B2C $500K Pre-series A IPV IPV
5 Oct 2023 Dressfolk Ecommerce D2C B2C $397K Seed All-in Capital, Sidhant Keshwani, Sidesh Chauhan, Riju Jhunjhunwala All-in Capital
4 Oct 2023 YouVah Enterprisetech Horizontal SaaS B2B $210K Seed CIIE. CO

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.

From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week

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
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From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week-Inc42 Media
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