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.
