From EMotorad To PhiCommerce — Indian Startups Raised $62 Mn This Week

SUMMARY

Indian startups raised $62 Mn across 19 funding deals, a marginal uptick on week-on-week funding

Two years after shelving its IPO plans, fintech unicorn Mobikwik mulls to hit the public market again

EV startup EMotorad raised $20 Mn funding from Panthera Growth Partners, making it the biggest funding deal of the week

The funding landscape for Indian startup ecosystem remained consistent this week, logging a collective raise of $62 Mn across 19 deals.

This reflects a marginal uptick from the previous week’s total funding of $61 Mn raised across ten funding deals.

Funding Galore: Indian Startup Funding Of The Week [Nov 27 – Dec 2]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
27 Nov 2023	EMotorad	Cleantech	Electric Vehicle	B2C	$20 Mn	Series B	Panthera Growth Partners, Alteria Capital, xto 10x Technologies, Green Frontier Capital	Panthera Growth Partners
28 Nov 2023	PhiCommerce	Fintech	Payments	B2B-B2C	$10 Mn	Series A1	BEENEXT, Opus Ventures	BEENEXT
28 Nov 2023	Innovist	Ecommerce	D2C	B2C	$7 Mn	Series A	Amazon Smbhav Venture Fund, 72 Ventures, family office of Nykaa founder Falguni Nayar and former KKR India head Sanjay Nayar, Accel India, Sauce.vc	Amazon Smbhav Venture Fund
27 Nov 2023	GrowXCD	Fintech	Lendingtech	B2B	$6 Mn	Series A	Lok Capital	Lok Capital
1 Dec 2023	Radiohead Brands	Ecommerce	D2C	B2C	$4.2 Mn	Pre-Series A	Prath Ventures, Capital Ventures, Illeyrium Ventures, Neel Bahl, Sandeep Agarwal	Prath Ventures
1 Dec 2023	Zyla Health	Healthtech	Healthcare SaaS	B2B-B2C	$4 Mn	Series A	Exfinity Venture Partners, Sony Innovation Fund, Venture Catalysts, Aureolis Ventures	Exfinity Venture Partners
27 Nov 2023	Elivaas	Travel Tech	Accomodation	B2C	$2.5 Mn	–	Peak XV’s Surge, Naveen Kukreja of Paisabazaar, Kunal Shah of CRED, Mohit Gupta of Zomato, Amit Lakhotia of Park+, Ravi Singhvi (Ares Asia), Anant Apurv Kumar (Brij Hotels), Parag Aggarwal of Gobolt and Toranj Mehta of De beers	Peak XV’s Surge
30 Nov 2023	ShipGlobal	Logistics	Ecommerce Logistics	B2B	$2.5 Mn	Seed	Info Edge Ventures
27 Nov 2023	Frendy	Ecommerce	B2C Ecommerce	B2B-B2C	$2 Mn	Bridge	Desai Ventures, Auxano Capital, AT Capital Singapore, Metara Ventures, Priya Joseph, Rohain Jain and Rishabh Jain of The Wellness Co., Apurva Salarpuria family office
30 Nov 2023	Twyn	Enterprisetech	Horizontal SaaS	B2B	$1.25 Mn	Pre-Series A	JITO Incubation & Innovaton Foundation, HEM Angels, Bestvantage, Beej Network	JITO Incubation & Innovation Foundation
28 Nov 2023	HempStreet	Healthtech	Fitness & Wellness	B2C	$1 Mn	Pre-Series A	Carl Waahlin of Waahlin holdings, Andre Rodrigues of TK 88 Holdings, HempStreet founder and CEO Abhishek Mohan	Carl Waahlin of Waahlin Holdings
30 Nov 2023	Onedios	Consumer Services	Hyperlocal Services	B2C	$720K	Bridge	IPV, Vcats	IPV
29 Nov 2023	Suind	Deeptech	Dronetech	B2B	$600K	Seed	Sunicon Ventures
28 Nov 2023	SustVest	Fintech	Investment Tech	B2C	$250K	–	WEH Ventures	WEH Ventures
30 Nov 2023	PatilKaki	Consumer Services	Hyperlocal Delivery	B2C	–	–	Cap70 Angels, Angelorajesh Athaide, chairman of St. Angelo’s VNCT Ventures, founder of Asian Markets Securities, Kailash Biyani	Cap70 Angels
27 Nov 2023	Stage	Media & Entertainment	OTT	B2C	–	–	Neeraj Chopra
28 Nov 2023	Woovly	Ecommerce	Social Commerce	B2C	–	–	Sony Innovation Fund, SOSV, RTAF, ViNners
1 Dec 2023	MoEving	Cleantech	Electric Vehicle	B2B-B2C	–	–	StrideOne
1 Dec 2023	Bitsila	Ecommerce	B2B Ecommerce	B2B	–	Seed	Antler, Phanindra Sama

Key Startup Funding Highlights Of The Week

EV startup EMotorad raised $20 Mn funding from Panthera Growth Partners, making it the biggest funding deal of the week.
Fuelled by EMotorad’s funding, the cleantech sector emerged as the most funded space this week, raising $20 Mn across two deals.
The ecommerce sector saw the highest deal count, with five transactions sealing $13.2 Mn.
This week, the Indian startup landscape recorded seed funding worth $3.1 Mn across three deals.
Sony Innovation Fund was the busiest investor this week as it participated in two deals.

Other Major Developments From This Week

Ananya Birla-led Svatantra Microfin Pvt Ltd concluded the acquisition of Sachin Bansal-backed fintech startup Navi’s subsidiary Chaitanya India Fin Credit Pvt Ltd.
Google is likely to double down on AI startup Corover with another investment worth $4 Mn.
Public listed startup MapmyIndia is eyeing to raise up to INR 500 Cr by issuing equity shares through a qualified institutional placement (QIP).
Financial services firm Pantomath Financial Services Group marked the final close of its pre-IPO fund, India Inflection Opportunity Fund (IIOF), at INR 500 Cr ($60 Mn).
Singapore’s Lighthouse Canton announced the final closure of LC Nueva AIF, a scheme of Luminere Investment Trust, at INR 350 Cr.
Two years after shelving its IPO plans, fintech unicorn MobiKwik intends to hit the public bourses.