From Credgenics To Disprz — Indian Startups Raised $95 Mn This Week

SUMMARY

The Indian startup ecosystem secured $95 Mn funding across 17 deals in the second week of July

Debt collection startup Credgenics raised $50 Mn in Series B funding round led by Westbridge Capital, and Accel, making it the biggest fundraise of this week

Ananya Birla-led Svatantra Microfin has signed a definitive agreement to acquire Chaitanya India Fin Credit Pvt Ltd for INR 1,479 Cr

After a sluggish start in terms of overall funding raised in August, the second week of the month appears to be a sigh of relief for the country’s startup ecosystem.

During the period from August 7 to August 12, 2023, Indian startups have raised a total funding of $95 Mn across 17 deals, marking a 763% increase from the $11 Mn raised between July 31 and August 5, 2023, and a 126% increase from the $42 Mn raised between July 24 and July 29, 2023.

Key Startup Funding Highlights Of The Week

Debt collection startup Credgenics raised $50 Mn in Series B funding round led by Westbridge Capital, and Accel, making it the biggest fundraise of this week
This week, the fintech sector secured a whopping $55 Mn in funding, making it the most funded sector.
Ecommerce emerged as the frontrunner with the highest deal count, securing $4.3 Mn across six deals.
After a week of minimal seed funding, this week the seed funding reported $11.4 Mn across eight deals
Bombay Shaving Company founder Shantanu Deshpande proved to be the busiest investor, with two funding announcements for the week.

Startup Acquisitions Of This Week

Enterprise upskilling startup Expertrons acqui-hired Bengaluru-based HRTech platform Foxmula.
Ananya Birla-led Svatantra Microfin has signed a definitive agreement to acquire Chaitanya India Fin Credit Pvt Ltd for INR 1,479 Cr.
AnotherAcquisition acquired Delhi NCR-based AI-powered email solutions provider Nyxion.ai for an undisclosed amount.
Bengaluru-headquartered GPS Renewables acquired Germany-based Proweps Envirotech GmbH.
Global investment firm KKR is acquiring a majority stake in Indian pallet pooling platform LEAP India for an undisclosed amount.

Other Major Developments From This Week

South Korean gaming giant KRAFTON has announced to invest $150 Mn in India over the next two to three years.
Zerodha’s investment arm Rainmatter has earmarked an additional INR 1,000 Cr capital to invest in sectors such as health, education, and climate change.
Japanese mobile entertainment company MIXI announced the launch of a $50 Mn corporate venture capital fund in India. The fund will invest in early stage entertainment and consumer services startups.