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

SUMMARY

The month of April is ending on a despondent note with mere $41 Mn funding across 16 deals

Fintech startup Niro raised $11 Mn in a mix of debt and equity round from Elevar Equity, GMO Venture Partners, Rebright Partners, among others

Edtech soonicorn BrightCHAMPS marked its third acquisition with the acquisition of Metamorphosis Edu in a cash and stock deal

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.