From Builder.ai To Chalo — Indian Startups Raised $476 Mn This Week

Further amplifying its fundraising prowess, Indian startups have collectively raised $476 Mn across 16 deals between May 22 and May 27, 2023. This is a 178% jump from $171 Mn raised by Indian startups between May 15 and May 20 across 18 deals.

Further, this week’s funding is a whopping 561% higher than the $72 Mn raised by Indian startups across 17 deals between May 8 and May 13, 2023.  

Key Startup Funding Deals Of This Week

• London-headquartered AI-focussed startup Builder.ai raised $250 Mn in a Series D funding round led by Qatar Investment Authority (QIA), making it the biggest fundraiser of the week
• Enterpristech secured top positions both in raising funds and bagging the maximum number of investment deals this week. The sector mopped up $269.9 Mn investment across five deals 
• Early-stage startups reported a total funding of $2.7 Mn, a 48% drop as compared to $5.19 Mn raised last week
• Jungle Ventures and Mohan K were the busiest investors this week as they participated in two deals each

Startup Acquisitions Of This Week

• Feminine hygiene startup Sirona entered the sexual wellness category with the acquisition of vegan condom brand Bleü 
• Capri Global Holdings – the parent entity of Capri Loans – acquired a 51% stake in CarLelo, an online new car marketplace, for INR 150 Cr
• Fintech unicorn Yubi acquired 100% stake in FinFort Infotech LLP, a digital credit analytics company

Other Major Developments From This Week

• • Physis Capital, a growth stage-focussed VC firm, announced the first close of its maiden Category II Alternative Investment Fund (AIF) at $7 Mn
  • Matrix Partners India has increased the size of its fourth India-focussed fund to $525 Mn from $450 Mn
  • Info Edge in its earning report has written-off the entire investment of INR 76.6 Cr in B2B marketplace Bijnis. Info Edge said this was a technical write-off
  • Baron Capital has now further slashed the valuation of food delivery giant Swiggy to $6.5 Bn as of March 31, 2023
  • Bengaluru-based Ola Electric has reportedly raised $300 Mn in its latest funding round at a valuation of $6 Bn.

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  Update: 27th May, 20:00 IST
  The feature image has been updated to include the correct logo of NIC