From BlueStone To Livpure — Indian Startups Raised $265 Mn This Week

From BlueStone To Livpure — Indian Startups Raised $265 Mn This Week

SUMMARY

Indian startups cumulatively raised $265.2 Mn via 16 deals, a 33% decline from the $395.63 Mn raised via 20 deals in the preceding week

The week saw a mega deal materialise with Bluestone raising $107.2 Mn in its pre-IPO round

Seed funding continued to move in a downward trajectory this week, with startups raising $1 Mn in the week, an 88 decline from last week's $8.85 Mn funding

Funding momentum across the Indian startup ecosystem took a blow in the third week of the ongoing month after bucking an uptick trend in investment activity. Between August 19 and 24, startups raised $265.2 Mn across 16 deals, a 33% decline from the $395.63 Mn raised via 20 deals in the preceding week. 

Funding Galore: Indian Startup Funding Of The Week [ Aug 19-24 ]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
22 Aug 2024 BlueStone Ecommerce D2C B2C $107.2 Mn Peak XV Partners, Prosus, Steadview Capital, Think Investments, Pratithi Investments
21 Aug 2024 E2E Networks Enterprise Tech Horizontal SaaS B2B $50.1 Mn
21 Aug 2024 Livpure Ecommerce D2C B2C $27.8 Mn M&G Investments, Ncubate Capital Partners
21 Aug 2024 Aye Finance Fintech Lendingtech B2B $25 Mn Goldman Sachs (India) Finance Goldman Sachs (India) Finance
23 Aug 2024 axio Fintech Lendingtech B2B-B2C $20 Mn Amazon Smbhav Venture Fund Amazon Smbhav Venture Fund
17 Aug 2024 FlexiLoans* Fintech Lendingtech B2C $9 Mn Debt JM Financials JM Financials
21 Aug 2024 uppercase Ecommerce D2C B2C $9 Mn Series B Accel, Sixth Sense Ventures, Akash Bhansali Accel
21 Aug 2024 Zoff Ecommerce D2C B2C $4.7 Mn JM Financial Private Equity JM Financial Private Equity
21 Aug 2024 TransBnk Fintech Fintech SaaS B2B $4 Mn Series A 8i Ventures, Accion Venture Lab, GMO Venture Partners, Ratio Ventures, Force Ventures 8i Ventures, Accion Venture Lab
23 Aug 2024 LoanKuber Fintech Lendingtech B2B $3.5 Mn Pre-Series B Inflection Point Ventures, TRTL VC, Auxano, LetsVenture, Mavuca Capital, Ruchi Deepak, Prashant Tandon, Pankaj Vermani Inflection Point Ventures, TRTL VC
23 Aug 2024 Fabrication Bazar Enterprise Tech Enterprise Services B2B $3 Mn Pre-Series A Physis Capital, ICMG, Inflection Point Ventures Physis Capital
22 Aug 2024 LLUMO AI Enterprise Tech Horizontal SaaS B2B $1 Mn Seed SenseAI Ventures, India Quotient, AumVC, Venture Catalyst, IIM Indore Alumni Angel Fund SenseAI Ventures
22 Aug 2024 Dopplr Enterprise Tech Vertical SaaS B2B $750K Cornerstone Ventures, BAT VC Cornerstone Ventures
22 Aug 2024 Favcy Enterprise Tech Enterprise Services B2B $214K
21 Aug 2024 NxtQube Deeptech Drone Tech B2B Seed Venture Catalysts, Pontaq VC, Ananta Bizcon LLP, Rushikesh Bhandari Venture Catalysts
21 Aug 2024 Humanize Enterprise Tech Horizontal SaaS B2B NLB Services NLB Services
Source: Inc42
*Included this week as it was skipped in last week’s edition
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • The week saw lone mega fundraise with omnichannel jewellery startup Bluestone bagging $107.2 Mn (INR 900 Cr) in its pre-IPO round from Peak XV Partners, Prosus, Steadview Capital, Think Investments and Pratithi Investments.
  • Buoyed by Bluestone’s funding round, ecommerce emerged as a sectoral leader this week. as startups raised $148.7 Mn via 4 deals in the week.
  • Fintech sector trailed behind ecommerce at a sectoral level, with startups in the sector securing $61.5 Mn via 5 deals. Notable deals in the sector included Aye Finance’s $25 Mn loan from Goldman Sachs (India) and axio’s $20 Mn fundraise from Amazon Smbhav Venture Fund.
  • Enterprise tech sector hogged the limelight with the maximum number of deals this week with startups raising $55.06 Mn via six deals.
  • JM Financial Private Equity, Inflection Point Ventures and Venture Catalysts emerged as the most active investors this week, backing two startups each.
  • However, seed funding continued to move in a downward trajectory this week with LLUMO AI bagging $1 Mn cheque.

From BlueStone To Livpure- Indian Startups Raised $265 Mn This Week

Startup Fund Launches Of This Week

  • Gujarat-based micro venture capital firm Volt VC launched its early-stage focused maiden fund with a target corpus of INR 45 Cr. With this, it will focus on pre-seed investments in consumer-focused businesses across sectors like D2C, B2C and B2B2C models.
  • Ex-Venture Highway lead investor Aviral Bhatnagar launched a new venture capital fund called AJVC, which will focus on pre-seed investments. AJVC’s first fund received SEBI approval last week.
  • Titan Capital Winners Fund, backed by Snapdeal cofounders Kunal Bahl and Rohit Bansal, has raised a target corpus of INR 200 Cr to invest in follow-on rounds of breakout startups from its seed portfolio. Bahl and Bansal will anchor the fund as its largest investors.

Other Developments Of The Week

  • Flipkart backer Chiratae Ventures announced the third cohort of its flagship seed investment programme Chiratae Sonic. The initiative targets early-stage startups  looking to raise up to $2 Mn in funding.
  • IPO-bound meat delivery startup Zappfresh acquired Mumbai-based meat and seafood delivery brand Bonsaro in an all-cash deal. The acquisition sees Zappfresh take over Bonsaro’s entire operations and business, including all the assets, to expand its presence in the western pocket.
  • VC firm Ankur Capital’s fund III, which aims to raise a target corpus of INR 1,200 Cr, has received commitments from two existing limited partners (LPs).
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From BlueStone To Livpure — Indian Startups Raised $265 Mn This Week-Inc42 Media
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