Indian Startup Funding — Indian Startups Raised $168 Mn This Week

From River To Globalbees — Indian Startups Raised $168 Mn This Week

SUMMARY

Indian startups raised $168 Mn in funding across 25 deals this week, a 250% surge from the previous week

EV scooter manufacturer River raised $40 Mn from Yamaha, making the biggest funding round of this week.

Kunal Shah-led CRED acquires investment wealth tech startup Kuvera to take on Groww and Zerodha

After a slight dip, investment activity across the Indian startup ecosystem shot back in the post budget week. From February 5 to 10, startups collectively raised $168 Mn in funding across 25 deals, marking a 250% uptick as compared to $48 Mn raised across eight deals in the previous week.

Funding Galore: Indian Startup Funding Of The Week [Feb 5 – Feb 9]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
6 Feb 2024	River	Cleantech	Electric Vehicle	B2C	$40 Mn	Series B	Yamaha Motor Corporation, Al-Futtaim Automotive, Lowercarbon Capital, Toyota Ventures, Maniv Mobility	Yamaha Motor Corporation
5 Feb 2024	Astrotalk	Consumer Services	–	B2C	$20 Mn	Series A	Left Lane Capital
6 Feb 2024	Globalbees	Ecommerce	Roll Ups	B2C	$17 Mn	Debt	Avendus
5 Feb 2024	Keus Smart Home	Deeptech	Hardware & IoT	B2B	$12 Mn	–	OAKS Asset Management, Brijesh Chandwani, Subram Kapoor
6 Feb 2024	OTO	Fintech	Lending Tech	B2C	$10 Mn	–	GMO Venture Partners, Turbostart, KL Rahul, Prime Venture Partners, Matrix Partners, 9Unicorns	GMO Venture Partners
7 Feb 2024	Pandorum Technologies	Healthtech	Medtech	B2B	$8 Mn	–	Ashish Kacholia, Everest Finance and Investment Company
5 Feb 2024	DevX	Real Estate Tech	Shared Spaces	B2B	$7 Mn	–	Family offices of Urmin, Gala and Bidiwala
5 Feb 2024	Wishlink	Ecommerce	Social Ecommerce	B2C	$7 Mn	–	Elevation Capital, Fundamentam
8 Feb 2024	Bombay Shirts Company	Ecommerce	D2C	B2C	$6.5 Mn	–	Singularity Ventures, Mithun Sacheti	Singularity Ventures
8 Feb 2024	Verse Innovation	Media & Entertainment	Social Media & Chat	B2C	$6.2 Mn	Debt	Alteria Capital
7 Feb 2024	Metafin	Fintech	Lending Tech	B2B-B2C	$5 Mn	–	Prime Venture Partners, Varanium Capital
6 Feb 2024	Khyaal	Media & Entertainment	Social Media & Chat	B2C	$4.2 Mn	Seed	62Ventures, SVQuad, Inventus Capital, Glen Tullman, Kanwal Rekhi, Raju Reddy, Raj-Ann Gill, Everywhere Ventures, Supermorpheus, Unpopular Ventures	62Ventures, SVQuad, Inventus Capital
8 Feb 2024	upliance. ai	Deeptech	Hardware & IoT	B2C	$4 Mn	Seed	Khosla Ventures
6 Feb 2024	Adventum Student Living	Edtech	Online Discovery	B2C	$3 Mn	–	Brand Capital
7 Feb 2024	Cashinvoice	Fintech	Lending Tech	B2B	$3.4 Mn	Series A	Pravega Ventures, HDFC Bank, Accion Venture Lab	Pravega Ventures, HDFC Bank, Accion Venture Lab
7 Feb 2024	ControlZ	Ecommerce	Recommerce	B2C	$3 Mn	Seed	9Unicorns, Venture Catalysts	9Unicorns, Venture Catalysts
5 Feb 2024	Snap-E Cabs	Travel Tech	Transport Tech	B2C	$2.5 Mn	Pre-Series A	IPV
8 Feb 2024	Neodocs	Healthtech	Fitness & Wellness	B2C	$2 Mn	Seed	Omidyar Network India, YCombinator, 9Unicorns, Gemba Capital, Titan Capital, Kunal Shah, Varun Alagh, Vivek Gambhir, Harshad Reddy	Omidyar Network India
5 Feb 2024	Arogya Tech	Healthtech	Fitness & Wellness	B2C	$1.8 Mn	Seed	Hasu P Shah
5 Feb 2024	Rupyz	Enterprisetech	Vertical SaaS	B2B	$1.2 Mn	Seed	Merak Ventures
5 Feb 2024	SportVot	Media & Entertainment	OTT	B2C	$1.1 Mn	Pre-Series A	Omidyar Network India, Anicut Capital, Startupynk, Ventana Ventures, Capital A, Ankur Capital, SucSEED Indovation, Marwah Sports	Omidyar Network India
6 Feb 2024	Swirl	Ecommerce	Social Ecommerce	B2C	$1.1 Mn	Seed	Shastra VC	Shastra VC
7 Feb 2024	Piscium Pockets	Healthtech	Medtech	B2C	$722K	Series A	Unicorn India Ventures	Unicorn India Ventures
7 Feb 2024	Koparo	Ecommerce	D2C	B2C	$722K	–	4P Capital Partners, Aman Gupta, Vineeta Singh
5 Feb 2024	Papa Pawsome	Ecommerce	D2C	B2C	$400K	Seed	IAN	IAN
	Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

Bengaluru-based EV scooter manufacturer River raised $40 Mn in its Series B funding led by Japan’s Yamaha Motor Corporation, making the biggest funding round of this week.
Fuelled by River’s funding, cleantech emerged as the most funded sector this week, striking a single deal of $40 Mn.
The ecommerce sector reported a maximum of seven deals this week, bagging $32.4 Mn in funding.
This week, seed funding jumped to $17.7 Mn across nine deals, up from $6.5 Mn from last week.
9Unicorns emerged as the busiest investor this week with infusions into three startups.

Startup Acquisitions This Week

Thyrocare is acquiring a 100% stake in Chennai-based Think Health Diagnostics and a related party to offer ECG services at home.
Kunal Shah-led CRED acquires investment wealth tech startup Kuvera in a mix of cash and stock deal.
Gamingtech company OneVerse Gaming acquired online game development studio Spartan Poker for an undisclosed amount.
Paytm has acquired ONDC platform Bitsila to strengthen its ONDC presence. However, the listed startup denied the acquisition.

Other Major Developments From This Week

GrowthCap Ventures has marked the first close of its maiden fund at INR 20 Cr, six months after the launch of the vehicle. The firm intends to invest in fintech, deeptech and SaaS sectors.
Cactus Venture Partners announced the final close of its maiden early-stage fund at INR 630 Cr ($75.8 Mn).
Orios Venture Partners made a 45X return with its partial exit from Country Delight.
upGrad to invest INR 100 Cr to launch 100 offline counselling touch-points and learning centres across the country over the next 12 months.
The Kerala state government in its budget earmarked INR 90.5 Cr towards the ‘Kerala Startup Mission’ to fuel startups in the state.