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

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

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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).

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