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

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]

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.

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