From BluSmart To Grow Indigo — Indian Startups Raised $48 Mn This Week

Funding momentum across the Indian startup ecosystem took a dive both in terms of value and volume, as the interim budget week limited the activity through the week. Between January 29 and February 3, the startups collectively secured $48 Mn across 8 deals, marking a 71.7% slump from $170 Mn raised across 13 deals in the previous week.

Funding Galore: Indian Startup Funding Of The Week [Jan 29 – Feb 3]

Key Startup Funding Highlights Of The Week

• Delhi NCR-based EV startup BluSmart is raising $25 Mn from responsAbility Investments AG, making the biggest funding round of this week.
• Fuelled by BluSmart’s funding, cleantech emerged as the most funded sector this week, raising $36 Mn across three deals 
• The cleantech sector and enterprise tech reported a maximum of three deals this week, while the enterpristech space bagged $8.4 Mn in funding
• This week, seed funding dropped to $6.5 Mn.

Other Major Developments From This Week

• Dairy tech startup Stellapps is in talks with its existing investors to raise around $20 Mn in its Series C funding round, Inc42 exclusively reported. The round is likely to see participation from new investors. 
• Edtech giant BYJU’S has kicked off rights issues procedures to raise $200 Mn from its existing shareholders at a $225 Mn valuation.
• Ranjan Pai likely to infuse an additional up to $60 Mn into Aakash
• The Circle Founders Club has launched an accelerator programme to empower early-stage climatetech startups that solve water-related problems in India.
• The Karnataka government launched an INR 20 Cr VC fund that will invest in the animation, visual effects, gaming and comics (AVGC) startups. 
• Asianxt Digital Technologies is likely to raise around $10 and $15 Mn to make its foray into the social media space with a short-format video app shortly.
• Nazara Technologies’ NODWIN Gaming will be investing €8 Mn in Germany-based marketing services company for gaming and esports, Freaks 4U Gaming GmbH.