From GreyOrange To Kitchens@ — Indian Startups Raised $349 Mn This Week

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

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).