From HealthifyMe To RevSure.AI — Indian Startups Raised $132 Mn This Week

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.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.