From Purplle To Matter – Indian Startups Raised $176 Mn This Week

After a massive week-on-week drop in funding last week, the month of July started relatively on a somber note. Between July 1 and 6, the Indian startups collectively mopped up around $176 Mn in funding across 16 deals. This is 10.3% lower than $196.4 Mn raised by 17 startups in the last week of June. 

Funding Galore: Indian Startup Funding Of The Week [ July 1 – July 6 ]

Key Startup Funding Highlights Of The Week

• Beauty ecommerce platform Purplle bagged $120 Mn from Abu Dhabi Investment Authority, making it the biggest fundraise of this week. Besides this funding, the startup further an ESOP liquidation exercise worth INR 50 Cr for its employees.
• Fuelled by Purplle’s fundraise, the ecommerce sector became the funded sector with an investment of $129.6 Mn. Besides, the sector also witnessed the most number of deals this week – six. 
• The seed funding dipped to $3.05 Mn this week across three, an almost 50% lower than $6.9 Mn reported last week.
   

Other Major Developments Of The Week

• Bengaluru-based logistics and distribution startup Ripplr is all set to raise $4.7 Mn in a debt from IPO-bound Northern Arc. 
• Listed Nazara Technologies’ subsidiary Nextwave Multimedia will be completing the acquisition of casual freemium card game UTP- Ultimate Teen Patti in a month.
• Shelving its IPO plans, Hospitality unicorn OYO is now raising $50 Mn (about INR 415 Cr) from financial services provider InCred. 
• Delhi NCR-based agritech startup Arya.ag is raising $29 Mn (about INR 242 Cr) in a fresh funding round from a new investor – Blue Earth Capital
• Peak XV Partners MD Rajan Anandan has said that the VC firm has a dry powder of INR 16,000 Cr to invest in Indian startups.
• CoinCDX has acquired Dubai-based virtual assets trading platform BitOasis, marking its overseas expansion
• Next Bharat Ventures IFSC Private Limited, a subsidiary of Suzuki Motor Corporation, has launched an INR 340 Cr social impact investment fund.

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