Indian Startup Funding — Indian Startups Raised $145 Mn This Week

From Impact Analytics To makeO — Indian Startups Raised $145 Mn This Week

SUMMARY

Indian startups raised $145 Mn in funding across 25 deals in the second week of 2024, a 150% increase from the previous week

Veranda Learning Solutions is acquiring educational services provider Tapasya Educational Institutions Private Limited for at least INR 362 Cr

Fireside Ventures and Anicut Capital emerged as the busiest investors as they participated in two deals each

After a gloomy start to the year, Indian startups have managed to gather steam in the funding momentum, both in terms of value and volume. In the second week of 2024, the startups collectively bagged $145 Mn across 25 deals, which is a 150% rise from $58 Mn raised by nine startups between January 1-6.

Funding Galore: Indian Startup Funding Of The Week [Jan 8 – Jan 13]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
9 Jan 2024	Impact Analytics	Enterprisetech	Horizontal SaaS	B2B	$40 Mn	–	Sageview Capital, Vistara Growth	Sageview Capital
9 Jan 2024	makeO	Healthtech	Medtech	B2C	$16 Mn	–	360 ONE Asset, Ashish Kacholia, Eight Roads Ventures, Paramark Ventures, Prashant Singh, Tushar Kumar	360 ONE Asset
12 Jan 2024	Varthana	Fintech	Lendintech	B2C	$14 Mn		Blue Capital Earth
12 Jan 2024	Grip Invest	Fintech	Investment Tech	B2C	$10 Mn	Series B	Stride Ventures, LC Nueva, Multiply Ventures, Venture Highway, Anicut Capital, AdvantEdge	Stride Ventures
6 Jan 2024	CureBay	Healthtech	Telemedicine	B2C	$7.4 Mn	Series A	Elevar Equity	Elevar Equity
11 Jan 2024	ConveGenius	Edtech	Enterprise Edtech	B2B	$7 Mn	–	UBS Optimus Foundation, Mount Judi Ventures, Michael & Susan Dell Foundation, Bace Capital, Heritas Capital, Gray Matters Capital	UBS Optimus Foundation, Mount Judi Ventures
9 Jan 2024	Karkhana. io	Enterprisetech	Enterprise Services	B2B	$6.3 Mn	Series A	Arkam Ventures, Susquehanna Asia Venture Capital, Vertex Ventures Southeast Asia	Arkam Ventures, Susquehanna Asia Venture Capital
9 Jan 2024	PierSight	Deeptech	Spacetech	B2B	$6 Mn	Seed	Alpha Wave Ventures, Elevation Capital	Alpha Wave Ventures, Elevation Capital
11 Jan 2024	Amaha Health	Healthtech	Fitness & Wellness	B2C	$6 Mn	–	Fireside Ventures	Fireside Ventures
9 Jan 2024	SalarySe	Fintech	Lendingtech	B2C	$5.25 Mn	Seed	Peak XV Partners, Pravega Ventures	Peak XV Partners
9 Jan 2024	Fisdom	Fintech	Investment Tech	B2C	$5 Mn	–	PayU
8 Jan 2024	Riskcovry	Fintech	Fintech SaaS	B2B	$4.5 Mn	Bridge	Morphosis Venture Capital, IIFL	Morphosis Venture Capital
11 Jan 2024	The Baker’s Dozen	Ecommerce	D2C	B2C	$4 Mn	Pre-Series A	Wipro Consumer Care, Mirabilis Investment Trust, She Capital, Fireside Ventures	Wipro Consumer Care Ventures
9 Jan 2024	Fittr	Healthtech	Fitness & Wellness	B2C	$3.5 Mn		Rainmatter
9 Jan 2024	MyMuse	Ecommerce	D2C	B2C	$2.7 Mn	Pre-Series A	Trifecta Capital, Kunal Shah, Saama Capital, Sauce VC, Whiteboard Capital
9 Jan 2024	Accio Robotics	Deeptech	Robotics Process Automation	B2B	$1.8 Mn	Pre-Series A	BIG Capital, Unisync Angels, Daniel Fitzgerald, Roots’ Ventures, Anuj Bihani	BIG Capital, Unisync Angels, Daniel Fitzgerald
10 Jan 2024	Glamplus	Enterprisetech	Vertical SaaS	B2B	$2 Mn	Pre-Series A	Upsparks Capital, Eagle10 Ventures, ITI Growth Opportunities Fund, IPV
9 Jan 2024	Evify	Logistics	Last mile delivery	B2B	$1.3 Mn	Pre-Series A	GVFL, Piper Serica
8 Jan 2024	Kidebea	Ecommerce	D2C	B2C	$1 Mn	Pre-Series A	Venture Catalysts, Agility Ventures, BestVantage Investments, Sandeep Agarwal, Upasana Agarwal, Ashok Bahadur, Hiro Mizushima	Venture Catalysts
11 Jan 2024	Salty	Ecommerce	D2C	B2C	$651K	–	Anicut Capital, All In Capital, Suashish Diamonds, JK Group
8 Jan 2024	Navork Innovations	Agritech	Farm Management	B2B-B2C	$200K	Seed	Spring Star Capital Group, Nikken Group
12 Jan 2024	Ambitio	Edtech	Online Discovery	B2C	$181K	Seed	First Cheque
9 Jan 2024	InCruiter	Enterprisetech	Horizontal SaaS	B2B	$132.7K	–	GetVantage
9 Jan 2024	PrabhuBhakti	Ecommerce	D2C	B2C	–	Seed	Prajay Advisory
10 Jan 2024	Lemme Be	Ecommerce	D2C	B2C	–	–	Team Pumpkin
	Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

SaaS startup Impact Analytics has raised $40 Mn led by Sageview Capital, making the biggest funding round of this week.
Fuelled by Impact Analytics’ funding, the enterprisetech sector emerged as one of the most funded sectors this week with a total funding of $48.4 Mn funding across 4 deals.
The ecommerce sector reported the maximum of six deals and a total funding of $8.3 Mn.
Fireside Ventures and Anicut Capital emerged as the busiest investors as they participated in two deals each.
This week, seed funding rose to $11.2 Mn across five deals.

Other Major Developments From This Week

One97 Communications Limited, the parent company of Paytm, will invest INR 100 Crore in Gujarat International Finance Tec (GIFT) City to build a global financial ecosystem.
Gruhas Collective Consumer Fund (GCCF), a fund floated by Nikhil Kamath and Gruhas in partnership with Collective Artists Network, has invested in five businesses so far.
Revenue-based financing platform Velocity has earmarked INR 300 Cr ($36.1 Mn) to offer financing to B2B SaaS startups.
Upekkha, a SaaS fund and accelerator announced the first close at $15 Mn of the larger $40 Mn Upekkha fund.
GetVantage launched its SaaS Accelerator Fund II for B2B SaaS businesses with a total corpus of INR 250 Cr.
Parag Agarwal, the former CEO of X (erstwhile Twitter), who was fired soon after Elon Musk took over the social media platform, has now raised $30 Mn for his new AI venture.
Inflection Point Ventures launched a sector-agnostic accelerator to support entrepreneurs who are seeking to build startups that are at the idea stage.
Kalpathi Group’s edtech venture Veranda Learning Solutions has agreed to acquire educational services provider Tapasya Educational Institutions Private Limited for at least INR 362 Cr (around $44 Mn).