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|
*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.