From RenewBuy To Ati Motors— Indian Startups Raised $111 Mn This Week

SUMMARY

The Indian startup ecosystem secured $111 Mn funding across 19 deals in the third week of July

RenewBuy has bagged $40 Mn in its Series D round of funding from Japanese insurance major, Dai-ichi Life Holdings, Inc. making it the biggest fundraise of this week

Fashion startup Styched acquired online casual sneaker startup Flatheads for an undisclosed amount

The third week of July has witnessed a pronounced V-shaped recovery after a drop in funding momentum last week. Between July 17 and July 22, 2023, the startup ecosystem has raised $111 Mn funding across 19 deals. This is a 30.5% jump from $85 Mn funding raised by Indian startups last week across 17 deals.

However, this week’s funding is 28.3% lower than the $155 Mn raised by Indian startups between July 3 and July 8, 2023.

Key Startup Funding Highlights Of The Week

RenewBuy has bagged $40 Mn in its Series D funding round from Japanese insurance major, Dai-ichi Life Holdings, Inc. making it the biggest fundraise of this week
Fintech sector raised the highest amount of funding at $47.2 Mn this week across four deals
With six deals, ecommerce sector reported the highest number of investment deals with $43.2 Mn funding
Early-stage startup funding stood at $8.1 Mn this week, a 237% jump as compared to the last week where early stage funding was $2.4 Mn.

Startup Acquisitions Of This Week

Fashion startup Styched acquired online casual sneaker startup Flatheads for an undisclosed amount
Bureau, a fraud detection startup besides raising an extended Series A funding round this week also has completed the acquisition of Y-Combinator backed identity verification startup inVOID
Y Combinator-backed Decentro acquired Mumbai-based SaaS fintech platform Neowise Technologies for an undisclosed amount in a cash and share deal
Plus91Labs, a cloud consulting and IT service, acquired Pixely, a company specialising in customised solutions for the Southeast Asian market.

Other Major Developments From This Week

Reliance Brands is in talks to acquire Bollywood actress Alia Bhatt’s children’s wear brand, Ed-a-Mamma for INR 300 Cr – 350 Cr
Troubled quick commerce startup Dunzo is trying to raise $20 Mn from its existing backer Reliance Retail
Ravi Lambah, sovereign fund Temasek’s India head and head of the investment group said that the fund intends to invest $9-10 Bn in India over the next three years
Beleaguered PharmEasy is in talks to raise INR 2,000 Cr-INR 3,000 Cr to repay the loan it took from Goldman Sachs.

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