SUMMARY
The Indian startup ecosystem secured $132 Mn funding across 19 deals in the first week of June
Bengaluru-based fitness startup HealthifyMe bagged $30 Mn in its Pre-Series D funding round led by LeapFrog Investments and Khosla Ventures
Bengaluru-based Capillary Technologies marked its third US acquisition with Tenerity’s product Digital Connect
The first week of June again witnessed a downward funding trend. Between June 5 and June 10, the Indian startups have collectively raised $132 Mn across 19 deals. This is a 37% drop from the $209 Mn, Indian startups collectively raised across 13 deals in the last week.
To further give comparison, this week’s total funding is 72% lower than the $476 Mn raised by Indian startups across 16 deals between May 22 and May 27, 2023.
Key Startup Funding Deals Of This Week
- Bengaluru-based fitness startup HealthifyMe raised $30 Mn in its Pre-Series D funding round led by LeapFrog Investments and Khosla Ventures
- Enterpristech secured the top position in terms of total funding raised this week. The sector mopped $38 Mn across 3 deals.
- The Fintech sector witnessed the highest number of deal counts this week. The sector raised $34 Mn across four deals.
- Early-stage startups reported an exponential rise with $18.6 Mn funding this week, a 173% jump from the $6.8 Mn raised last week.
Startup Acquisitions Of This Week
- GoKwik has acquired chat commerce startup Tellephant for an undisclosed amount
- Fintech startup CredFlow acquired Y Combinator-backed business management startup TechBiz in an all-cash deal
- Bengaluru-based Capillary Technologies marked its third US acquisition with Tenerity’s product Digital Connect
- Identity theft protection platform IDfy acqui-hired the team of SaaS platform – Salesroom
- VLCC to acquire men’s grooming D2C brand Ustraa or an undisclosed amount.
Other Major Developments From This Week
- AWE Funds has announced the first close of its maiden fund in India – the Achieving Women Entrepreneurs Early Growth Fund I – at $15 Mn
- Mumbai-based B2B payments solutions provider PayMate is likely to refile its Draft Herring Red Prospectus (DRHP) with the market regulator SEBI within the next 90 days
- This week, Sequoia Capital announced a major rebranding and separation exercise, with Sequoia India & Southeast Asia being renamed as Peak XV Partners
- Edtech decacorn BYJU’S said it will launch the initial public offering (IPO) of its subsidiary Aakash Educational Services Limited (AESL) around mid-2024.
- Healthcare venture studio 2070 Health raised $30 Mn as part of its seed funding round from US-based venture capital firm W Health Ventures.
