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
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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.
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