SUMMARY
Indian startups raised $349 Mn in funding across 25 deals during December 18-23, a jump of 34% week-on-week
Coworking space BHIVE acquihired product-engineering firm Praemineo for an undisclosed amount
Chennai-based coworking space Awfis filed its DRHP to raise INR 160 Cr via a fresh issue of shares
The funding momentum of the Indian startup ecosystem continued in the third week of December. Between December 18 and 23, Indian startups collectively managed to raise $349 Mn across 25 deals. Though this week’s funding was better than most of the weeks this year, it was 34% lower in comparison to the last week, when startups collectively raised $527 Mn across 21 deals.
Meanwhile, this week saw one mega deal, with robotics startup GreyOrange raising $135 Mn in its Series D funding round.
Funding Galore: Indian Startup Funding Of The Week [Dec 18 – Dec 23]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 21 Dec 2023 | GreyOrange | Deeptech | Hardware & IoT | B2B | $135 Mn | Series D | Anthelion Capital, Mithril, 3State Ventures and Blume Ventures | Anthelion Capital |
| 22 Dec 2023 | Kitchens@ | Consumer Services | Hyperlocal Delivery | B2B | $65 Mn | Series C | Finnest | |
| 19 Dec 2023 | VideoVerse | Enterprisetech | Horizontal SaaS | B2B | $45 Mn | – | – | |
| 19 Dec 2023 | U Gro Capital | Fintech | Lendingtech | B2B | $30 Mn | Debt | FMO | |
| 21 Dec 2023 | BluSmart | Travel Tech | Transport Tech | B2C | $24 Mn | – | – | – |
| 22 Dec 2023 | Fasal | Agritech | Precision Agriculture | B2B | $12 Mn | Series A | TDK Ventures, British International Investment, ITI Growth Opportunities Fund, Navam Capital, Aureolis Ventures, 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, The Yield Labs Asia Pacific | TDK Ventures, British International Investment (BII) |
| 19 Dec 2023 | Beyond Odds | Edtech | Skill Development | B2C | $11 Mn | – | Lightspeed Venture Partners, Matrix Partners, Ritesh Agarwal, Gaurav Munjal | |
| 18 Dec 2023 | Farmley | Ecommerce | D2C | B2C | $6.7 Mn | Pre-Series B | BC Jindal Group, DSG Consumer Partners, Omnivore, Alkemi Partners | BC Jindal Group |
| 19 Dec 2023 | BatX Energies | Cleantech | Electric Vehicle | B2B | $5 Mn | Pre-Series A | Zephyr Peacock, LetsVenture, JITO Angel Fund, Family offices of Mankind Pharma, Excel Industries, BluSmart | |
| 19 Dec 2023 | Kapture CX | Enterprisetech | Horizontal SaaS | B2B | $4 Mn | Series A | India Alternatives | |
| 20 Dec 2023 | Finhaat | Fintech | Insurtech/Investment Tech | B2C | $3 Mn | Seed | Omnivore, Kettleborough VC | Omnivore |
| 18 Dec 2023 | Finayo | Fintech | Fintech SaaS | B2B | $1.9 Mn | – | F Mec International Financial Services Limited, Choice Finserv Private Limited, India Accelerator, Manish Mehta | |
| 22 Dec 2023 | Jumps Auto Industries | Deeptech | Hardware & IoT | B2B | $1.45 Mn | – | Aavishkaar Capital | |
| 18 Dec 2023 | Hogr | Consumer Services | Hyperlocal Services | B2C | $1.2 Mn | Seed | Curefoods | |
| 18 Dec 2023 | GetSetHome | Real Estate Tech | Shared Spaces | B2C | $1 Mn | Seed | Mistry Ventures | Mistry Ventures |
| 22 Dec 2023 | Peptris | Enterprisetech | Horizontal SaaS | B2B | $1 Mn | Seed | Speciale Invest | |
| 19 Dec 2023 | HouseEazy | Real Estate Tech | Listing & Discovery Services | B2C | $1 Mn | Seed | Antler | Antler |
| 19 Dec 2023 | ALT CARBON | Cleantech | Climate Tech | B2B | $550K | Seed | Shastra VC | |
| 22 Dec 2023 | Nestroots | Ecommerce | D2C | B2C | $360K | Seed | BeyondSeed Singapore, Arjun Vaidya | |
| 18 Dec 2023 | Noise | Ecommercce | D2C | B2C | – | Series A | Bose | |
| 19 Dec 2023 | Helo Health | Healthtech | Healthcare Services | B2B | – | Seed | ah! Ventures | |
| 20 Dec 2023 | Reeudo | Fintech | Payments | B2C | – | – | Fateh Education | |
| 21 Dec 2023 | Ugees | Ecommercce | D2C | B2C | – | Seed | EvolveX | |
| 22 Dec 2023 | Eco Hotels and Resorts | Travel Tech | Accommodation | B2C | – | – | EaseMyTrip | |
| 21 Dec 2023 | FlexifyMe | Healthtech | Fitness & Wellness | B2C | – | – | ah! Ventures | |
| Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included |
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Key Startup Funding Highlights Of The Week
- Robotics startup GreyOrange raised $135 Mn in Series D funding round led by Anthelion Capital, making it the biggest funding deal of the week.
- Fuelled by GreyOrange funding, deeptech emerged as the most funded sector this week with a total funding of $136.4 Mn funding across two deals.
- At four deals each, ecommerce and fintech sectors saw the maximum funding deals this week.
- Omnivore emerged as the busiest investor as it participated in three deals each.
- This week, $8.1 Mn was raised in seed funding across 10 deals.
Startup Acquisitions This Week
- Coworking space BHIVE acquihired product-engineering firm Praemineo for an undisclosed amount.
- SAR Groups’ Livguard acquired Delhi NCR-based Euron Technologies to foray into the EV battery swapping space.
Other Major Developments From This Week
- Chennai-based coworking space Awfis filed its DRHP to raise INR 160 Cr via a fresh issue. The startup’s IPO will also comprise an OFS component of 10.02 Mn shares.
- Ola Electric has filed its draft red herring prospectus with the markets regulator Securities and Exchange Board of India (SEBI) for an INR 7,250 Cr initial public offering (IPO).
- Flipkart is looking to raise a fresh funding of $1 Bn. Its parent Walmart has infused $600 Mn into the company as part of this round.
- Ecommerce player FirstCry is likely to file its IPO papers this month to raise $500-$600 Mn from the public market.
- Angel investment networking platform We Founder Circle’s (WFC) GIFT City Fund has raised $10 Mn and onboarded more than 250 investors.
- Fintech unicorn BharatPe is looking to secure INR 500 Cr debt through unlisted non-convertible debentures (NCDs).
