Indian Startup Funding — Indian Startups Raised $125 Mn This Week

From Captain Fresh To Amber — Indian Startups Raised $125 Mn This Week

SUMMARY

Indian startups raised $125 Mn in funding across 18 deals this week, a 25.5% dip from the previous week

B2B seafood startup bagged $25 Mn in funding from British International Investment and Nekkanti Seafoods, making the biggest funding round of this week.

ixigo’s parent Le Travenues Technology Ltd refiled its DRHP to raise INR 120 Cr via fresh issue of shares.

After a massive uptick in investment activity, the Indian startup ecosystem entered the slow funding lane in the second week of the ongoing month. Between February 12 and 19, startups collectively raised $125 Mn across 18 deals, which is a 25.5% dip from $168 Mn raised by 25 startups in the previous week.

Funding Galore: Indian Startup Funding Of The Week [Feb 12 – Feb 17]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
16 Feb 2024	Captain Fresh	Ecommerce	B2B Ecommerce	B2B	$25 Mn	Series C Extension	British International Investment, Nekkanti Seafoods Group
12 Feb 2024	Amber	Real Estate Tech	Shared Spaces	B2C	$21 Mn	–	Gaja Capital, Lighthouse Canton, Stride Ventures	Gaja Capital
13 Feb 2024	Supertails	Ecommerce	D2C	B2C	$15 Mn	Series B	RPSG Captial, Fireside Ventures, Saama Capital, DSG, Sauce VC	RPSG Capital
15 Feb 2024	Metalbook	Ecommerce	B2B Ecommerce	B2B	$15 Mn	Series A	Rigel Capital, FJ Labs, Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital	Rigel Capital
12 Feb 2024	Jeewani Hospitality	Travel Tech	Accomodation	B2C	$12 Mn	–	EaseMyTrip
15 Feb 2024	Ayekart	Agritech	Market Linkage	B2B-B2C	$6.5 Mn	Series A	Omnivore, Siana Capital, Unleash Capital
14 Feb 2024	Ascend Capital	Fintech	Lending Tech	B2B-B2C	$6 Mn	Series A	InfoEdge Ventures, Asha Ventures	InfoEdge Ventures, Asha Ventures
14 Feb 2024	TORK Motors	Cleantech	Electric Vehicle	B2C	$6 Mn	–	Maxis Capital
15 Feb 2024	Veera	Healthtech	Fitness & Wellness	B2C	$6 Mn	Seed	Ayon Capital, 6th Man Ventures, Folius Ventures, The Operating Group, iSeed Ventures, Accomplice and Cypher Capital, Aalap Mahadevia, Kabir Narang, Nikhil Mohta	Ayon Capital
14 Feb 2024	Explurger	Media & Entertainment	Social Media	B2C	$4.5 Mn	Series A	Affle
12 Feb 2024	Yu	Ecommerce	D2C	B2C	$2.4 Mn	Series A	Ashish Kacholia, Asian Paints Promoter Group	Ashish Kacholia, Asian Paints Promoter Group
13 Feb 2024	Noccarc	Healthtech	Medtech	B2B	$2 Mn	–	IAN, Sunil Munjal, Small Industries Development Bank of India (SIDBI), Technology Development Board (TDB)	IAN
15 Feb 2024	Segwise	Enterprisetech	Horizontal SaaS	B2B	$1.6 Mn	Seed	Powerhouse Ventures, Antler India, Blume Ventures, Everywhere Ventures, Saka Ventures, Untitled Ventures, Kunal Shah	Powerhouse Ventures
13 Feb 2024	Happi Planet	Ecommerce	D2C	B2C	$1 Mn	–	Fireside Ventures
12 Feb 2024	Corrit Electric	Cleantech	Electric Vehicle	B2B	$602K	–	Porush Jain,
13 Feb 2024	Scandalous Foods	Ecommerce	B2B Ecommerce	B2B	$361K	Seed	IAN, KRS Jamwal, Mrunal Jhaveri, Arjun Vaidya, Ajay Mariwala, Sushma Gupta
13 Feb 2024	Frubon	Ecommerce	D2C	B2C	–	Series A	Fireside Ventures, Pi Ventures LLP
15 Feb 2024	Freo	Fintech	Banking	B2C	–	Debt	Small Industries Development Bank of India (SIDBI)

Key Startup Funding Highlights Of The Week

Bengaluru-based B2B seafood startup bagged $25 Mn in funding from British International Investment and Nekkanti Seafoods, making the biggest funding round of this week.
Fuelled by Captain Fresh’s funding, ecommerce emerged as the most funded sector with $58.1 Mn and a maximum of seven deals this week.
This week, seed funding plummeted to $7.9 Mn across 4 deals, from $17.7 Mn across nine deals last week.
Fireside Ventures emerged as the busiest investor this week as it participated in three deals.

Updates On Indian Startup IPOs

Fintech SaaS company Trust Fintech Limited had filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge to raise funds via an initial public offering (IPO).
ixigo’s parent Le Travenues Technology Ltd refiled its DRHP to raise INR 120 Cr via fresh issue of shares.
OTT streaming platform Ullu Digital has filed its DRHP with the BSE SME for an IPO to raise around INR 130 Cr.

Other Major Developments From This Week

Navi Finserv is planning to raise up to INR 600 Cr via issuance of Non-Convertible Debentures (NCDs) to fuel its business growth.
Home interior startup HomeLane to acquire DesignCafe in a stock-swap deal.
Hyderabad Angels launched its maiden venture capital fund at INR 150 Cr to invest in early stage startups.
Endiya Partners is set to launch its third fund for a corpus ranging between INR 800 Cr and INR 1,000 Cr ($100-$125 Mn).
Nazara’s NODWIN Gaming to acquire Ninja Global FZCO (Ninja), to foray into Turkey and the Middle East region
Africa’s mobility fintech startup Moove raised $10 Mn (about INR 83 Cr) in debt from Stride Ventures to expand its presence in the Indian market.
InCred Group’s InCred Alternatives Investments launched its maiden Category II AIF, with a target corpus of INR 500 Cr ($60 Mn+).
PedalStart, a startup accelerator launched Series-2 fund with $250K funding to help early stage startups

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