From Niro To HerKey — Indian Startups Raised $41 Mn This Week

The month of April is ending on a despondent note in raising funds. Between April 24 and April 29 2023, Indian startups have merely raised $41 Mn across 16 deals. 

This is a 38.6% decline from $66.8 Mn raised by nine startups between April 17 and April 22, 2023. 

Just to give a comparison, in the first week of April, Indian startups raised $564 Mn across 18 deals. This is almost a 93% drop in funding raised this week as compared to the first week of April. 

Key Highlights From Startup Funding Deals This Week

• Fintech startup Niro raised $11 Mn in a mix of debt and equity round from Elevar Equity, GMO Venture Partners, Rebright Partners, among others – making it the biggest fundraise of the week 
• Fintech topped the startup funding charts this week with $11 Mn funding, which is 27% of the total fund raised this week 
• With four deals, the enterprisetech sector recorded $8.8 Mn funding this week 
• Early-stage investment just received $364K this week.

Startup Acquisitions And Fund Launches Of The Week

• Chanakya Fund Trust has launched a maiden fund worth INR 100 Cr to invest in small and medium sized SMEs 
• Capria Ventures has marked the first close of its target $100 Mn fund to invest across 20-25 tech-focused startups in India, Southeast Asia, Latin America, the Middle East, and Africa
• Edtech soonicorn BrightCHAMPS marked its third acquisition with the acquisition of edtech startup Metamorphosis Edu in a cash and stock deal.
• Malaysian sovereign fund Khazanah Nasional Berhad acquired a $40 Mn worth stake in Xpressbees from Elevation Capital.