From MediBuddy To SatSure — Indian Startups Raised $52 Mn This Week

SUMMARY

The Indian startup ecosystem secured $52 Mn across 12 funding deals in the last week of August

MediBuddy raised an additional funding of $18 Mn from its existing investors for strategic acquisitions, making it the biggest fundraise of this week

Overall, the month of August ended with meagre $341 Mn in startup funding

After a week of record-breaking investment, August ended on a quieter note with $341 Mn in startup funding. Following a surge in the third week of August, investment levels saw a significant decline in the fourth week.

Between August 28 and September 2, Indian startups collectively secured $52 Mn across 12 deals — a 77.4% drop compared to the $231 Mn raised in the previous week, which also marked the emergence of a new unicorn after an 11-month hiatus.

Funding Galore: Indian Startup Funding Of The Week [Aug 28 – Sept 2]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
30 Aug 2023	MediBuddy	Healthtech	Telemedicine	B2C	$18 Mn	–	Quadria Capital, Lightrock, TEAMFund
29 Aug 2023	SatSure	Deeptech	Spacetech	B2B	$15 Mn	Series A	Baring Private Equity Partners India, Promus Ventures, Omidyar Network India, xto10x, Force Ventures, Luckbox Ventures, IndigoEdge Advisors	Baring Private Equity Partners India, Promus Ventures
31 Aug 2023	CredRight	Fintech	Lendingtech	B2C	$9.7 Mn	–	Michael & Susan Dell Foundation, YourNest, Spearhead Capital, 9Unicorns, AccionVenture Lab, Blacksoil, Caspian Debt, RevX Capital, Westen Capital	Michael & Susan Dell Foundation
31 Aug 2023	Facets.cloud	Enterprisetech	Horizontal SaaS	B2B	$4 Mn	Seed	3one4 Capital, Abhinav Asthana, Pallav Nadhani, Aneesh Reddy, Krishna Mehra, Sreedhar Pedinneni	3one4 Capital
1 Sept 2023	Varthana	Fintech	Lendingtech	B2C	$2.5 Mn	Debt	Symbiotics Investments
31 Aug 2023	ShipEase	Logistics	Ecommerce Logistics	B2B	$1 Mn	Pre-Series A	IPV	IPV
30 Aug 2023	HeyoPhone	Enterprisetech	Horizontal SaaS	B2B	$500K	Angel	Aakash Chaudhury, Amit Chaudhary, Dinesh Gupta
29 Aug 2023	India Index	Logistics	Supply Chain	B2B	$500K	Seed	Parth Jindal, Vaaman Sehgal, Robert Lansing
30 Aug 2023	MrMed	Healthtech	Online Pharmacy	B2C	$500K	–	Tamil Nadu Emerging Sector Seed Fund (TNESSF), BEEJ Network, Vish Entrepreneurs LLP	Tamil Nadu Emerging Sector Seed Fund (TNESSF)
29 Aug 2023	ScrapUncle	Consumer Services	Hyperlocal Services	B2C	$447K	Seed	Madhuram Papers family office, Bharat Jaisinghani	Madhuram Papers family office
28 Aug 2023	Upraised	Enterprisetech	Horizontal SaaS	B2B	$30K	Seed	Pontaq
28 Aug 2023	Rupid	Fintech	Fintech SaaS	B2B-B2C	–	Seed	EvolveX
	Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

Healthtech startup MediBuddy raised an additional funding of $18 Mn from its existing investors for strategic acquisitions, making it the biggest fundraise of the week.
Boosted by Medibuddy’s investment, the healthtech sector emerged as the most funded this week, securing $18.5 Mn across two deals.
Fintech and enterprisetech were the front-runners with the highest deal count, securing $12.2 Mn and $4.5 Mn respectively across three deals each
After a record seed funding of $14 Mn last week, this week, five early stage funding deals were recorded.

Other Major Developments From This Week

The Indian government under the Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) will provide a grant of up to INR 50 Lakh to startups to promote technical textiles in the country.
Venture capital (VC) firm gradCapital launched its second fund with a total size of $6 Mn to invest in student startups.