Indian Startup Funding — $58 Mn Raised In First Week Of January

From Country Delight To Captain Fresh — Indian Startups Raised $58 Mn This Week

SUMMARY

Indian startups raised $58 Mn in funding across nine deals in the first week of 2024, a 35% decline from the previous week

US-based SentinelOne acquired Peak XV Partners-backed cybersecurity startup PingSafe in a cash and stock deal

Delhi NCR-based fintech unicorn MobiKwik refiled its DRHP with market regulator SEBI to raise INR 700 Cr via a fresh issue of shares

The year 2024 started on a sombre note for the Indian startup ecosystem in terms of funding, as nine startups collectively raised $58 Mn. This was a 35% decline from the $90 Mn that was raised in the last week of 2023 across 10 deals.

Funding Galore: Indian Startup Funding Of The Week [Jan 1 – Jan 6]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
5 Jan 2024	Country Delight	Ecommerce	D2C	B2C	$20 Mn	–	Temasek, Venture Partners
4 Jan 2024	Captain Fresh	Ecommerce	B2B	B2B	$13 Mn	–	Nekkanti Sea Foods, Shakti Finvest, Ravi Shankar Pemmasani, Shibu Mathai
4 Jan 2024	OneCard	Fintech	Lendingtech	B2C	$11.4 Mn	Debt	Alteria Capital
4 Jan 2024	Wiz Freight	Logistics	Supply Chain	B2B	$11.2 Mn	–	SBI Investments, Tiger Global, Nippon Express Fund, Axilor Technologies Fund
2 Jan 2024	Settl	Real Estate Tech	Shared Spaces	B2C	$1.2 Mn	Pre-Series A	Gruhas, We Founder Circle, Anthill Ventures, IPV, ah! Ventures, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, Nila Spaces Ltd
2 Jan 2024	DevDham	Consumer Services	Hyperlocal Services	B2C	$721K	Seed	Titan Capital, All In Capital, Veda VC, TDV Partners	Titan Capital
3 Jan 2024	Larkai	Healthtech	Medtech	B2B	$500K	Seed	FAAD Network, QI Ventures, RTAF
4 Jan 2024	Nawgati	Travel Tech	Transport Tech	B2B-B2C	$120K	–	GAIL
4 Jan 2024	Maidaan	Edtech	Skill Development	B2C	–	Seed	IPV, We Founder Circle	IPV

Key Startup Funding Highlights Of The Week

Dairytech startup Country Delight is raising $20 Mn in what seems to be a bridge round from Temasek and other existing investors.
Fuelled by Country Delight’s funding, the ecommerce sector not only emerged as the most funded sector this week with a total funding of $33 Mn funding but also recorded the most number of deal counts – two.
Inflection Point Ventures and We Founder Circle emerged as the busiest investors as they participated in two deals each.
This week, $1.2 Mn was raised in seed funding across three deals.

Other Major Developments From This Week

Delhi NCR-based fintech unicorn MobiKwik refiled its DRHP with market regulator SEBI to raise INR 700 Cr via a fresh issue of shares.
Nazara Technologies’ esports subsidiary NODWIN Gaming invested INR 33.26 Cr in Germany-based Freaks 4U Gaming GmbH via convertible note.
Meesho’s angel investors and early institutional shareholders are mulling to sell their shares in a secondary round at a lower valuation, ranging between $3-$3.5 Bn. Meesho was last valued at around $5 Bn.
US-based SentinelOne acquired Peak XV Partners-backed cybersecurity startup PingSafe in a cash and stock deal.
Public listed Easy Trip Planners is going to raise up to INR 1,000 Cr (around $120 Mn) through a preferential issue.