From Netradyne To Foxtale — Indian Startups Raised $308 Mn This Week

From Netradyne To Foxtale — Indian Startups Raised $308 Mn This Week

SUMMARY

Between January 13 and 18, Indian startups cumulatively raised $308.1 Mn across 24 deals, down 28.7% from the $432.4 Mn across 20 deals last week

After raising $90 Mn in its Series D funding round at a valuation of $1.34 Bn, logistics tech startup Netradyne entered the unicorn club this week

Startups such as Zetwerk, InMobi, and Groww provided clearer timelines for their public listing plans, while multiple new fund launches also hogged the headlines this week

With the Centre’s flagship programme ‘Startup India’ entering into its tenth year this week, investors continue to remain bullish on the Indian startup ecosystem. Between January 13 and 18, startups cumulatively raised $308.1 Mn across 24 deals. While the deal count went up from last week’s 20 deals, funding dipped 28.7% from last week’s $432.4 Mn. 

Despite a decline in investment activity over the past week, several positive developments unfolded for startups. Notably, Netradyne became the first startup to join the unicorn club in 2025. Additionally, companies such as Zetwerk, InMobi, and Groww provided clearer timelines for their public listing plans, while multiple new fund launches also hogged the headlines.

Funding Galore: Indian Startup Funding Of The Week [ Jan 13 – Jan 18 ]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
17 Jan 2025 Netradyne Logistics Logistics Tech B2B $90 Mn Series D Point72 Private Investments, Qualcomm Ventures, Pavilion Capital Point72 Private Investments
13 Jan 2025 WeWork India Real Estate Tech Shared Spaces B2B $57.7 Mn
15 Jan 2025 Foxtale Ecommerce D2C B2C $30 Mn Series C KOSÉ Corporation, Panthera Growth Partners, Z47, Kae Capital KOSÉ Corporation
15 Jan 2025 Ecozen Agritech B2B $23 Mn Debt responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development and Finance responsAbility Investments AG
15 Jan 2025 Euler Motors Cleantech EV B2B $20 Mn Debt responsAbility Investments AG responsAbility Investments AG
14 Jan 2025 BGauss Cleantech EV B2C $18.6 Mn Bharat Value Fund Bharat Value Fund
14 Jan 2025 BharatPe Fintech Payments B2B-B2C $17.3 Mn Debt Neo Wealth and Asset Management, Trifecta Capital
15 Jan 2025 Sarla Aviation Deeptech Aerial Vechicle B2C $10 Mn Series A Accel, Binny Bansal, Nikhil Kamath, Sriharsha Majety, Abhiraj Singh Bhal, Abhishek Goyal, Ramakant Sharma, Sujeet Kumar, Manish Agarwal, Sandeep Nailwal Accel
16 Jan 2025 AstroSure Consumer Services B2C $6 Mn Seed Pradeep Dadha Pradeep Dadha
15 Jan 2025 Eccentric Enterprisetech Vertical SaaS B2B $5 Mn pre-Series A Exfinity Venture Partners, Arkam Ventures Exfinity Venture Partners, Arkam Ventures
17 Jan 2025 Bolt.Earth Cleantech EV B2B-B2C $5 Mn Series A Version One Ventures, Union Square Ventures, Prime Venture Partners Version One Ventures
17 Jan 2025 WeVOIS Cleantech Waste Management B2B $4.2 Mn Series A Negen Capital, Vyom Wealth, Venture Catalysts, SN Capital, Warmup Ventures, Marsshot Ventures Negen Capital, Vyom Wealth
13 Jan 2025 Boba Bhai Consumer Services Hyperlocal Delivery B2C $3.4 Mn Series A 8i Ventures, Titan Capital Winners Fund, Global Growth Capital, DevC 8i Ventures
16 Jan 2025 Constelli Deeptech Defencetech B2B $3 Mn pre-Series A Pravega Ventures Pravega Ventures
15 Jan 2025 TyrePlex Ecommerce B2C Ecommerce B2C $2.4 Mn PeerCapital, Titan Capital Winners Fund, Sattva Family Office, 100Unicorns PeerCapital
17 Jan 2025 Captain Fresh Agritech Market linkage B2B-B2C $2.3 Mn* Debt VentureSoul Partners VentureSoul Partners
16 Jan 2025 Fambo Agritech Market linkage B2B-B2C $2.1 Mn Seed EV2 Ventures, Rajesh Sawhney EV2 Ventures
17 Jan 2025 TreZix Enterprisetech Enterprise Services B2B $2 Mn Seed Morphosis Venture Capital, Pentathlon Ventures Morphosis Venture Capital, Pentathlon Ventures
15 Jan 2025 ErlySign Healthtech Healthcare Services B2C $1.8 Mn pre-Series A Ashish Kacholia Ashish Kacholia
17 Jan 2025 Catalyx Space Deeptech Spacetech B2B $1.7 Mn pre-Seed HF0 Residency HF0 Residency
15 Jan 2025 OrbitAID Deeptech Spacetech B2B $1.5 Mn pre-Seed Unicorn India Ventures, Tamil Nadu Startup and Innovation Mission Unicorn India Ventures
16 Jan 2025 ParkMate Consumer Services B2C $1.2 Mn Cactus Partners, Venture Catalysts, Marwah Group Family Office Cactus Partners
14 Jan 2025 Tractor Factory Ecommerce Recommerce B2C $500K pre-Seed All In Capital, Bharat Founders Fund, DevC, Dhingra Partners Prosperity Trust, Samir Sood, Abhishek Goyal, Aayush Phumbra, Puneet Kumar All In Capital
15 Jan 2025 Sukoon Unlimited Consumer Services Hyperlocal Services B2C $430K pre-Seed Anchorage Capital Partners, Vinay Jain, Manish Dureja, Rahul Dash, Prantik Mazumdar, Neeraj Sagar, Sudhir Kamath
Source: Inc42
*Part of a larger round
**Included this week as it was skipped last week
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • After raising $90 Mn in its Series D funding round at a valuation of $1.34 Bn, logistics tech startup Netradyne entered the unicorn club this week. Solely, the funding round propelled the logistics sector to scoop up maximum capital infusion this week.
  • With four startups, Bolt.Earth, WeVOIS, Euler Motors and BGauss, cumulatively raising $47.8 Mn this week, cleantech saw the largest number of deals materialising this week.
  • Seed stage funding zoomed this week to $8.2 Mn, up 215% from the $2.6 Mn raised by startups at this stage in the previous week.

Funds Launches This Week

  • Debt marketplace Recur Club has launched a $17.5 Mn fund to accelerate growth of D2C brands in the quick commerce space. It will provide financing to 80-100 D2C brands with ticket sizes ranging from INR 80 Lakh to INR 10 Cr.
  • Equity management platform Hissa has announced the launch of Hissa Fund I, a $35 Mn investment vehicle to enable employees of growth-stage startups to convert their vested stock options into cash.
  • Riceberg Ventures has launched a $20 Mn fund to back 25-30 deeptech startups with an average cheque size of $500K.
  • Avendus marked the first close of its Future Leaders Fund III (FLF III) with INR 850 Cr commitments from leading domestic family offices and Indian institutions.
  • SaaS-focussed VC firm Cornerstone Ventures announced the first close of its $200 Mn fund at about $40 Mn. 

Startup IPO Updates Of The Week

  • B2B marketplace unicorn Zetwerk shortlisted Axis Capital, Goldman Sachs, Jefferies, JM Financial, JPMorgan Chase & Co. and Kotak Mahindra Bank as bankers for its upcoming $500 Mn IPO.
  • Urban Company is set to file its draft papers for an INR 3,000 Cr initial public offering (IPO) before the end of March. It has reportedly appointed Kotak Mahindra Capital, Goldman Sachs and Morgan Stanley as bankers for the IPO.
  • Groww is reportedly looking to file for a public offering within 10-12 months. The startup is seeking a valuation between $6-8 Bn for its IPO.
  • EV startup Ather is eyeing $2.4 Bn valuation for its upcoming IPO this year, about 80% premium from its last private valuation.
  • IPO-bound Zepto has received National Company Law Tribunal (NCLT) approval to reverse flip to India. The court has approved the merger of Mumbai-based Kiranakart Technologies with its Singapore-based affiliate, Kiranakart Pte Ltd.
  • Adtech unicorn InMobi will be filing its IPO of more than $1 Bn in the next 2-3 months. The startup is eyeing a public listing by October this year. InMobi is targeting a valuation of $8 Bn to $10 Bn for the IPO.

Other Developments Of The Week

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