SUMMARY
The Indian startup ecosystem secured $476 Mn funding across 16 deals in the fourth week of May
London-headquartered Builder.ai raised $250 Mn in a Series D funding round led by Qatar Investment Authority (QIA)
Fintech unicorn Yubi has acquired 100% stake in FinFort Infotech LLP, a digital credit analytics company
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
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- 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.
Update: 27th May, 20:00 IST
The feature image has been updated to include the correct logo of NIC
