From InMobi To Centricity – Indian Startups Raised $227 Mn This Week

From InMobi To Centricity – Indian Startups Raised $227 Mn This Week

SUMMARY

Indian startups cumulatively raised $227.1 Mn across 22 deals, a 34% decline from the $348 Mn raised last week via 19 deals

The week saw one mega funding round materialise when IPO-bound startup InMobi bagged a debt of $100 Mn from Mars Growth Capital

Moneyview vaulted into the coveted unicorn club this week after raising $4.6 Mn from Accel and Nexus Ventures at a valuation of $1.2 B

Funding across the Indian startup ecosystem entered slow lane in the mid week of September after a brief uptick in momentum. Between September 9 and 14, startups cumulatively raised $227.1 Mn across 22 deals, marking a 34% decline from the $348 Mn raised via 19 deals in the preceding week. 

Despite the marginal decline, the week saw one mega funding round materialise when IPO-bound startup InMobi bagged a debt of $100 Mn from Mars Growth Capital. 

Besides, the week also saw fintech startup Moneyview becoming the sixth Indian startup this year to vault into the coveted unicorn club after scooping up $4.6 Mn from Accel and Nexus Ventures at a valuation of $1.2 Bn

Funding Galore: Indian Startup Funding Of The Week [Sept 9– Sept 14]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
11 Sep 2024 InMobi Enterprisetech Horizontal SaaS B2B $100 Mn Debt Mars Growth Capital Mars Growth Capital
11 Sep 2024 FlexiLoans Fintech Lending Tech B2B $34.5 Mn Series C Accion, Maj Invest, Nuveen, Fundamentum
13 Sep 2024 Onsurity Fintech Insurtech B2B $21 Mn Series B Creaegis, IFC, Quona Capital, Nexus Venture Partners Creaegis
12 Sep 2024 Centricity Fintech Investment Tech B2B $20 Mn Seed Lightspeed, Paramark Ventures, Burman family office, NB Ventures family office, MS Dhoni family office, MMG group family office, Action Tesa family office, Aakash Chaudhry, Ritesh Agarwal Lightspeed
10 Sep 2024 AppsForBharat Consumer Internet B2B $18 Mn Series B Fundamentum, Elevation Capital, Peak XV, Mirae Asset VC Fundamentum, Elevation Capital, Peak XV, Mirae Asset VC
10 Sep 2024 Nestasia Ecommerce D2C B2C $8.5 Mn Susquehanna Asia VC, Stellaris Venture Partners Susquehanna Asia VC, Stellaris Venture Partners
10 Sep 2024 Clean Electric Cleantech Electric Vehicle B2B $6 Mn Series A Info Edge Ventures, pi Ventures, Kalaari Capital, Lok Capital Info Edge Ventures, pi Ventures, Kalaari Capital
12 Sep 2024 Moneyview Fintech Lending Tech B2C $4.6 Mn Accel India, Nexus Ventures
12 Sep 2024 Dharaksha Ecosolutions Agritech Biotech B2B $3 Mn Seed Avaana Capital Avaana Capital
13 Sep 2024 Futwork Enterprisetech Horizontal SaaS B2B $2.5 Mn Series A Michael & Susan Dell Foundation, Artha Ventures, Simile Capital Michael & Susan Dell Foundation
10 Sep 2024 Crackle Technologies Enterprisetech Horizontal SaaS B2B $1.7 Mn pre-Seed We Founder Circle, AC Ventures, Impetus Technologies, Sunicon Ventures, Global DeVC, Misfits Capital, Ludo King We Founder Circle, AC Ventures
10 Sep 2024 Exposome Cleantech B2B $1.7 Mn pre-Series A Colossa Ventures, 3i Partners, Rahul Rathi, Bhukhanvala Holdings Private Limited, Excel Industries Limited, Spectrum Impact Colossa Ventures
13 Sep 2024 Newmi Care Healthtech Fitness & Wellness B2C $1.5 Mn Seed Sprout Venture Partners, LetsVenture, Sarcha Advisors, Key Ventures Forum Sprout Venture Partners
11 Sep 2024 Mitra Ecommerce D2C B2C $1.3 Mn pre-Series A Bestvantage Investments Bestvantage Investments
11 Sep 2024 Zivy Enterprisetech Horizontal SaaS B2B $1.2 Mn pre-Seed Blume Ventures, Paradigm Shift Capital, iSeed, Everywhere Ventures, Indian Silicon Valley, Marsshot Ventures Blume Ventures
12 Sep 2024 Apptile Enterprisetech Horizontal SaaS B2B $1.2 Mn Singularity Early Opportunities Fund, Crown Trust, DeVC Singularity Early Opportunities Fund
12 Sep 2024 GameEon Studios Media & Entertainment Gaming B2B $1 Mn SucSEED Indovation Fund, ICE.VC, IAN, CD Equifinance, Nexus Global Opportunities Fund, Vivek Goel, Patni Family, Tal64
12 Sep 2024 Wundrsight Healthtech IoT & Hardware B2B-B2C $400K Seed Inflection Point Ventures, Social Alpha Inflection Point Ventures
9 Sep 2024 Transcell Biologics Healthtech Healthcare Services B2B Quantiphi, IAN Group
12 Sep 2024 Leezu’s Ecommerce D2C B2C
12 Sep 2024 Trisu Ecommerce D2C B2C All In Capital, JK Tyres, Amaanta Group All In Capital
13 Sep 2024 Agilitas Sports Ecommerce D2C B2C Spring Marketing Capital Spring Marketing Capital
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Buoyed by InMobi’s mega funding round, enterprisetech emerged as the leader in terms of funding at a sectoral level.
  • Fintech trailed enterprisetech at a sectoral funding level with startups in this space securing $80.1 Mn via four deals.
  • Seed funding went up tremendously this week to $24.9 Mn, zooming over 2X from last week’s $10.7Mn secured by startups at this level. The bump in the seed funding numbers came primarily due to the $20 Mn bagged wealthtech startup Centricity.
  • Nandan Nilekani’s Fundamentum, Nexus Venture Partners, and IAN group emerged as the lead investors this week, backing two startups apiece.

From InMobi To Centricity – Indian Startups Raised $227 Mn This Week

Updates On Indian Startup IPOs

  • Electric two wheeler major Ather Energy filed its DRHP with market regulator SEBI to raise more than INR 3,100 Cr via an IPO. The proposed public offer comprises a fresh issue of equity shares worth INR 3,100 Cr and an offer-for-sale (OFS) of up to 2.2 Cr equity shares.
  • IPO bound foodtech major Swiggy is reportedly mulling to increase the fresh issue size of its public offer to cumulatively raise INR 5,000 Cr.

Mergers and Acquisitions This Week

Other Developments Of The Week

  • Ex- Jio President Vikas Choudhary announced the launch of his new fund Playbook Partners, a SEBI-approved Category II alternative investment fund. Announcing the first close of the fund at $130 Mn, the firm looks to close the fund at $250 Mn in the near future.
  • Listed lending tech startup Moneyboxx announced that it is looking to raise $20.9 Mn via issuance of equity shares on a preferential basis and warrants.
  • Fintech startup Finova Capital is reported to be on the verge of raising $95.3 Mn from new and existing investors in a mix of primary capital infusion and secondary share sale.
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