SUMMARY
Indian startups raised $85 Mn across 18 funding deals, a 37% week-on-week markup
Allen Career Institute acquired doubts solving platform Doubtnut for an undisclosed amount
Sarvam AI raised Series A funding of $41 Mn led by Lightspeed Venture Partners, making it the biggest funding deal of the week
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Kicking off the last month of the year on a positive note, Indian startup ecosystem saw a remarkable upward trajectory in terms of fundraise. Between December 4 and 9, the homegrown startups collectively raked in $85 Mn across 18 deals, marking a 37% jump from $62 Mn secured across 19 deals in the preceding week.
Funding Galore: Indian Startup Funding Of The Week [Dec 4 – Dec 9]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 7 Dec 2023 | Sarvam AI | Enterprisetech | Horizontal SaaS | B2B | $41 Mn | Series A | Lightspeed Venture Partners, Peak XV Partners, Khosla Ventures | Lightspeed Venture Partners |
| 8 Dec 2023 | The Sleep Company | Ecommerce | D2C | B2C | $22.1 Mn | Series C | Premji Invest, Fireside Ventures | Premji Invest, Fireside Ventures |
| 5 Dec 2023 | Digivriddhi Technologies | Fintech | Neobank | B2B | $6 Mn | Series A | Omidyar Network India, Omnivore, InfoEdge Ventures | Omidyar Network India |
| 6 Dec 2023 | Navadhan | Fintech | Lendingtech | B2B-B2C | $5 Mn | Pre-Series A | Prime Venture Partners, Gemba Capital, Varanium NexGen Fintech Fund | Prime Venture Partners |
| 7 Dec 2023 | Airblack | Edtech | Skill Development | B2C | $4 Mn | Pre-Series B | Michael & Susan Dell Foundation, Elevation Capital, InfoEdge Ventures, Blume Ventures, Thandani and Pawar Family Trust | Michael & Susan Dell Foundation |
| 7 Dec 2023 | Scimplifi | Enterprisetech | Enterprise Services | B2B | $3.67 Mn | – | 3one4 Capital, BEENEXT | |
| 7 Dec 2023 | Digital Paani | Cleantech | Water Tech | B2B | $1.2 Mn | Seed | Elemental Excelerator, Eniza, Peer Cheque, SAE, DevC, Bharat Founders Fund, Ashish Goel, Alok Mittal, Mohit Sadani, Mohit Tandon | Elemental Excelerator |
| 6 Dec 2023 | VoiceClub | Media & Entertainment | Social Media | B2C | $700K | Seed | Better Capital, TDV Partners, Blume Founders Fund, Sunn91, Astir Ventures | Better Capital |
| 7 Dec 2023 | AllTrak | Healthtech | Healthcare SaaS | B2B | $503K | Pre-Series A | IPV | IPV |
| 5 Dec 2023 | Pickndel | Logistics | Ecommerce Logistics | B2B | $285K | Seed | 100x. VC, Anay Ventures, Flawless Company, Shavdia Ventures, Pradeep Desu | |
| 5 Dec 2023 | Scandalous Foods | Ecommerce | D2C | B2C | $191K | Seed | Anthill Angel Fund, EvolveX, Value360, Sapphireink Ventures, Sagar Daryani, Kamnaa Aggarwal, Vikas Aggarwal, Harpal Singh Soki | |
| 5 Dec 2023 | Offside | Media & Entertainment | Social Media | B2C | $150K | Seed | 100x. VC | |
| 8 Dec 2023 | MetaShop | Enterprisetech | Horizontal SaaS | B2B | $100K | – | Google’s Women Founders Fund | |
| 8 Dec 2023 | Fundamento | Enterprisetech | Horizontal SaaS | B2B | $100K | – | Google’s Women Founders Fund | |
| 8 Dec 2023 | The Teaser Company | Enterprisetech | Enterprise Services | B2B | $119K | Seed | – | |
| 6 Dec 2023 | Phases | Ecommerce | D2C | B2C | $36K | Angel | Aparna Thyagarajan | |
| 5 Dec 2023 | EsportsXO | Media & Entertainment | Gaming | B2B-B2C | – | SOSV’s Orbit Startups, SucSEED Indovation Fund, Mumbai Angels | ||
| 6 Dec 2023 | Chainrisk | Enterprisetech | Horizontal SaaS | B2B | – | Seed | Antler |
Key Startup Funding Highlights Of The Week
- Five months old, Sarvam AI raised Series A funding of $41 Mn led by Lightspeed Venture Partners, making it the biggest funding deal of the week.
- Fuelled by Sarvam AI’s funding, the enterprisetech sector not only emerged as the most funded sector this week with $44.9 Mn funding, but also witnessed maximum number of deals with six deal count.
- InfoEdge Ventures, 100x.VC and Google’s Women Founder emerged as the busiest investors as it participated in two deals each.
- Seed funding remained flat this week with a mere $2.6 Mn across eight deals.
Startup Acquisitions This Week
- CarDekho Group picked up a majority stake in Gurugram-based Revv, marking its foray into the shared mobility space. As a part of the deal, CarDekho Group will merge Revv with the rest of its offerings.
- Allen Career Institute acquired doubts solving platform Doubtnut for an undisclosed amount.
- PE firm ChrysCapital acquired 75% stake of B2B SaaS platform ProHance Analytics for an undisclosed amount to foray into the country’s SaaS space.
- Edtech startup Toprankers acquired Gurugram-based test preparation platform Chinar Law Institute (CLI) for an undisclosed amount.
Other Major Developments From This Week
- Ahmedabad-based VC firm GVFL partnered with global venture accelerator Brinc to launch an accelerator programme for backing early-stage startups across four different sectors.
- Indian Angel Network (IAN) announced the first close of its second venture capital fund at INR 355 Cr.
- Bhavish Aggarwal’s Ola Electric to file its draft red herring prospectus (DRHP) in the next two weeks as it gears up to go public early next year.
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