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

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.

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