The Indian startup ecosystem secured $413 Mn across 21 funding deals in the second week of September
Bengaluru-based fintech SaaS startup Perfios raised $229 Mn from Kedaara Capital, making it the biggest fundraise of the week
Fintech unicorn Razorpay has acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup.
Maintaining a strong funding pace in the second week of September, Indian startups successfully garnered $413 Mn through 21 deals from September 11 to September 15. This represents a significant 61% increase over the $257 Mn secured in 18 deals during the prior week.
The week witnessed one mega deal, with fintech SaaS-based startup Perfios bagging $229 Mn in its Series D round from Kedaara Capital.
Funding Galore: Indian Startup Funding Of The Week [Sept 11 – Sept 16]
|Date||Name||Sector||Subsector||Business Model||Funding Round Size||Funding Round Type||Investors||Lead Investor|
|11 Sept 2023||Perfios||Fintech||Fintech SaaS||B2B||$229 Mn||Series D||Kedaara Capital|
|14 Sept 2023||Pixis||Enterprisetech||Horizontal SaaS||B2B||$85 Mn||Series C1||Touring Capital, Grupo Carso, General Atlantic, Celesta Capital, Chiratae Ventures||Touring Capital|
|14 Sept 2023||Leads Connect||Agritech||Precision Agriculture||B2B||$60.2 Mn||–||BL Agro|
|12 Sept 2023||Kale Logistics||Logistics||Logistic SaaS||B2B||$30 Mn||Series B||Creaegis Advisors LLP|
|12 Sept 2023||PeeSafe||Ecommerce||D2C||B2C||$3 Mn||Series B||Natco Pharma, Rainmatter Health, Alkemi Growth Capital||Natco Pharma, Rainmatter Health|
|14 Sept 2023||HotelYaari||Fintech||Investment Tech||B2C||$2.18 Mn||Seed||Alios Ventures|
|12 Sept 2023||WOGOM||Ecommerce||B2B Ecommerce||B2B||$1.9 Mn||–||–|
|14 Sept 2023||Melooha||Consumer Services||Hyperlocal Services||B2C||$635K||–||Streak Ventures LLC||Streak Ventures LLC|
|11 Sept 2023||DevDynamics.ai||Enterprisetech||Horizontal SaaS||B2B||$600K||–||Powerhouse Ventures, Sunn91 Ventures, PointOne Capital||Powerhouse Ventures|
|12 Sept 2023||1Bridge||Ecommerce||B2B Ecommerce||B2B||$481K||–||C4D Partners|
|13 Sept 2023||ThinkMetal||Deeptech||IoT & Hardware||B2B||$300K||Seed||100X.VC||100X.VC|
|14 Sept 2023||K12 Techno Services||Edtech||K12||B2C||–||–||Kedaara Capital|
|11 Sept 2023||Smartstaff||Enterprisetech||Horizontal SaaS||B2B||–||–||Persol|
|11 Sept 2023||TrackWizz||Fintech||Fintech SaaS||B2B||–||WestBridge Capital|
|13 Sept 2023||Mitsu||Healthtech||Fitness & Wellness||B2C||–||–||Gaurav Barman|
|14 Sept 2023||Port||Media & Entertainment||Social Media & Chat||B2C||–||Seed||Catamaran|
|15 Sept 2023||Blue Tokai Coffee||Ecommerce||D2C||B2C||–||Series B||Deepika Padukone|
|11 Sept 2023||Navars Edutech||Edtech||K12||B2C||–||–||JITO Incubation and Innovation Foundation|
|14 Sept 2023||Cultos Global||Enterprisetech||Horizontal SaaS||B2B||–||–||Sameer Mehta, Tarun Katial, Ashwath Bhat|
|13 Sept 2023||Xtracap Fintech||Fintech||Lendingtech||B2B||–||–||IIFL Fintech Fund|
|15 Sept 2023||Videonetics||Enterpristech||Horizontal SaaS||B2B||–||–||Florintree|
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
- Bengaluru-based fintech SaaS startup Perfios raised $229 Mn from Kedaara Capital, making it the biggest fundraise of the week.
- Fueled by Perfios fundraise, the fintech emerged as the most funded sector this week, securing $231 Mn across four deals.
- Enterpristech reported the highest deal count, securing $85.6 Mn across five startup funding deals.
- Following an impressive number of seed funding deals last week, the Indian startup ecosystem witnessed meagre three deals.
- Kedaara Capital was the busiest investor this week as it participated in two deals each.
Startup Fund Launches This Week
- Early stage VC firm Vertex Ventures Southeast Asia and India has raised $541 Mn for its fifth fund – the VVSEAI Fund V.
- Xponentia Capital announced the first closure of Xponentia Opportunities Fund II after raising INR 1,000 Cr from investors, exceeding the initial target of INR 750 Cr.
- Early stage VC Kae Capital closed its Winners Fund II (KWF II) worth $50 Mn (INR 410 Cr) to co-invest in its portfolio startups.
- Artha Group has launched Artha Continuum Fund (ACF), a syndicate fund tailor-made for family offices and Ultra High Net Worth Individuals (UHNIs).
Startup Acquisitions Of This Week
- Intercity food delivery startup JustMyRoots acquired regional packaged food delivery startup The State Plate (TSP) for an undisclosed amount.
- Fintech unicorn Razorpay marked its eighth acquisition. The fintech unicorn acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup.
- 1 Bridge acquired the technology assets of eSamudaay to build district commerce stack on Open Network for Digital Commerce (ONDC).
- Sportswear brand Agilitias Sports, which raised $52 Mn in its maiden funding round, has acquired Mochiko Shoes, a domestic footwear brand.
Other Major Developments From This Week
- AI-enabled matrimony startup Betterhalf announced its second ESOP buyback programme which will benefit 29 current and former employees.
- Troubled BYJU’S has put two of its acquired companies – Epic and Great Learning, on sale and is looking to cash out $800 Mn – $1 Bn from it.
- Global investment major KKR is likely to invest INR 2,069.5 Cr in Reliance’s retail arm – Reliance Retail Ventures Ltd (RRVL) for INR 2,069.5 Cr.
- Lenskart-backed Neso Brands invested $4 Mn in Paris-based omnichannel eyewear brand Le Petit Lunetier for a significant stake.