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From Bright Money To Doceree — Indian Startups Raised $194 Mn This Week

From Bright Money To Doceree — Indian Startups Raised $194 Mn This Week
SUMMARY

Indian startups raised $194 Mn across 34 funding deals, marking a substantial 113% week-on-week increase

Seed funding activity surged this week with $9 Mn in fund infusion across 17 deals, a substantial jump from $5.4 Mn raised a week prior

Fuelled by Bright Money’s fundraise, the fintech sector emerged as the most funded sector this week, securing $67.5 Mn across two deals

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Following a brief dip in funding last week, the month of September is concluding on a notably stronger note. Indian startups raised $194 Mn across 34 funding deals, marking a substantial 113% increase from the $91 Mn raised in the prior week.

Throughout September, Indian startups garnered $995 Mn in funding over a span of four weeks.

Funding Galore: Indian Startup Funding Of The Week [Sept 25 – Sept 30]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
27 Sept 2023 Bright Money Fintech Lendingtech B2C $62 Mn Encina Lender Finance, Alpha Wave, Hummingbird, Peak XV Partners
27 Sept 2023 Doceree Enterprisetech Horizontal SaaS B2B $35 Mn Series B Creaegis, Eight Roads Ventures, F-Prime Capital Creaegis
28 Sept 2023 Third Wave Coffee Ecommerce D2C B2C $35 Mn Series C Creaegis, WestBridge Capital, Sujeet Kumar Creaegis
26 Sept 2023 Pilgrim Ecommerce D2C B2C $20 Mn Vertex Ventures Southeast Asia and India, Fireside Ventures and Narotam Sekhsaria Family Office Vertex Ventures Southeast Asia and India (Temasek)
25 Sept 2023 Castler Fintech Payments B2B $5.5 Mn Pre-Series A Capital 2B, IIFL Fintech Fund, Flipkart Ventures Capital 2B
29 Sept 2023 SigNoz Enterprisetech Horizontal SaaS B2B $5.4 Mn SignalFire, Uncorrelated Ventures, Alumni Ventures
28 Sept 2023 Quick Smart Wash Consumer Service Hyperlocal Services B2C $5.15 Mn Elan Corporation
22 Sept 2023 Legistify Enterprisetech Horizontal SaaS B2B $4 Mn Series A IndiaMart, Titan VC, GSF, Cathexis Ventures, Justin Hamilton, Enrission Group
27 Sept 2023 Data Sutram Enterprisetech Horizontal SaaS B2B $3 Mn Series A Bharat Fund, Singularity Growth Funds, Indian Angel Network, IndiaInfolIne, White Venture Capital Bharat Fund
26 Sept 2023 Raptee Cleantech Electric Vehicle B2C $3 Mn Pre-Series A Bluehill Capital, Eugene Mayne, Lakshmi Narayanan, Ramesh Kannan, Chandu Nair Bluehill Capital
29 Sept 2023 Clinkally Ecommerce D2C B2C $2.6 Mn Y Combinator, Tribe Capital, Goodwater Capital, Sequoia Scout Fund, Rebel Fund
25 Sept 2023 abCoffee Ecommerce D2C B2C $2 Mn Seed Tanglin Ventures Partners, 100X.VC, Panthera Peak, OTP Venture Partners, Tanglin Ventures Partners
27 Sept 2023 QuriousBit Media & Entertainment Gaming B2C $2 Mn Seed General Catalyst, Lumikai
29 Sept 2023 Fairdeal.Market Ecommerce B2B Ecommerce B2B $2 Mn WaterBridge Ventures, Gemba Capital, GrowX Ventures, Priyaranjan Ventures, Manish Bajoria WaterBridge Ventures
26 Sept 2023 Autocracy Machinery Agritech Farm Inputs B2B $1.2 Mn Seed Venture Catalysts, Nikhil Jaisinghani, Bharat Jaisinghani, Meghna Agarwal, Abhishek Rungta, Srikanth Iyengar, Abhishek Modi, VC Grid, S Four capital Venture Catalysts
28 Sept 2023 MyMandi Agritech Market Linkage B2B-B2C $1.2 Mn RTAF
25 Sept 2023 FlexifyMe Healthtech Telemedicine B2C $1 Mn Seed Flipkart Ventures, GSF, iHub Anubhuti, Chandigarh Angels (CAN), Venture Catalyst, OneCapital
28 Sept 2023 oorja Cleantech Electric Vehicle B2B $1.5 Mn pre-Series A Micello Fund, Capital-A, Java Capital, Anicut Capital, Lead Angels Micello Fund
27 Sept 2023 PierSight Deeptech Spacetech B2B $600K Seed All In Capital, Andreas Klinger, Vismay Agrawal, Nikunj Jalan, Techstars All In Capital
25 Sept 2023 AltUni Edtech Online Certification B2C $500K Seed Indian Angel Network, Vishesh C Chandiok, Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa
27 Sept 2023 Zeron Enterpristech Horizontal SaaS B2B $500K Seed Varanium Capital, Yatra Angel Network
25 Sept 2023 StampThePassport Travel Tech Travel Planning & Activities B2C $481K Seed
27 Sept 2023 Figr Enterpristech Horizontal SaaS B2B $250K Seed Antler India,
28 Sept 2023 DecorTwist Ecommerce D2C B2C $250K Seed Adhvith Dhuddu Adhvith Dhuddu
26 Sept 2023 Belly Rubs Ecommerce B2C Ecommerce B2C $180K Seed
25 Sept 2023 DIAL 4242 Healthtech Healthcare Services B2C $120K Seed G Vamshi Raju, Starfish Ventures G Vamshi Raju, Starfish Ventures
25 Sept 2023 Algomage Enterpristech Horizontal SaaS B2B Seed Flipkart Ventures
25 Sept 2023 NimbleBox.ai Enterpristech Horizontal SaaS B2B Seed Flipkart Ventures
25 Sept 2023 ReCircle Cleantech Waste Management B2C Seed Flipkart Ventures
28 Sept 2023 BabyChakra Ecommerce D2C B2C Dia Mirza
29 Sept 2023 Axiom Ayurveda Ecommerce D2C B2C Emami
26 Sept 2023 NIKOL EV Cleantech Electric Vehicle B2C Seed EvolveX
27 Sept 2023 Flow Sports Life Consumer Services Hyperlocal Services B2C Seed IPV IPV
29 Sept 2023 Drip Project Ecommerce D2C B2C Blume Ventures’ Blume Founders Fund, StrongHer Venture, Ankita Vasista, Priti Sawant Blume Ventures’ Blume Founders Fund
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Bengaluru and San Francisco-based Consumer fintech startup Bright Money raised $62 Mn funding in a mix of equity and debt, making it the biggest funding deal of the week.
  • Fuelled by Bright Money’s fundraise, the fintech sector emerged as the most funded sector this week, securing $67.5 Mn across two deals.
  • Ahead of the festive season, the ecommerce sector witnessed the most number of deals. The sector saw ten deals and a total of $62 Mn being raised.
  • Seed funding activity surged this week with $9 Mn in fund infusion across 17 deals, a substantial jump from $5.4 Mn raised across five deals a week prior
  • Flipkart Ventures was the busiest investor this week as it participated in five deals.

Startup Acquisitions This Week

Other Major Developments From This Week

  • Debt VC firm Trifecta Capital announced the final close of its third venture debt fund, Trifecta Venture Debt Fund III, at INR 1,777 Cr.
  • According to Inc42 sources, electric vehicle (EV) charging infrastructure provider Bolt.Earth is in talks with investors to raise $20 Mn in its Series B round at a valuation of $100 Mn. 
  • Hyderabad’s Young Entrepreneurs Association (YEA) launched its new startup fund with an initial corpus of INR 5 Cr for potential startups in the Hyderabad region. 
  • Matrix Partners India has elevated three of its principals – Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi  – to the managing director roles.
  • Healthcare-focussed startup Affordplan this week saw a complete management buyout led by its CEO,  thus giving a complete exit to the founders and four private equity investors. 

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Inc42 Daily Brief

Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy

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