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

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.

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

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.
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From Country Delight To Captain Fresh — Indian Startups Raised $58 Mn This Week-Inc42 Media
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