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

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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