From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week

SUMMARY

Between July 22 and 27, Indian startups managed to cumulatively raise a meagre $43.1 Mn via 12 deals, marking a 365% decline from $200 Mn raised across 25 deals in the previous week

The past week saw funding trends redact to an all year low

FAAD Capital emerged as the most active investor this week, backing four agritech startups with an infusion of over $121K

Investment activity across the Indian startup ecosystem redacted to an all year low in the budget week. Between July 22 and 27, startups managed to cumulatively raise a meagre $43.1 Mn via 12 deals, down 365% from $200 Mn raised across 25 deals in the preceding week. 

It is pertinent to note that seven of the deals materialised this week didn’t disclose the financial terms of their transactions. 

Funding Galore: Indian Startup Funding Of The Week [ July 22- July 27]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
22 Jul 2024 Stable Money Fintech Investment Tech B2C $14.7 Mn Series A RTP Capital, Matrix Partner, Lightspeed Ventures RTP Capital
22 Jul 2024 NeoGrowth Fintech Lending Tech B2B $11 Mn Debt Symbiotics Group Symbiotics Group
22 Jul 2024 Incuspaze Real Estate Tech Shared Spaces B2B $8 Mn India Inflection Opportunity Fund India Inflection Opportunity Fund
25 Jul 2024 Charcoal Eats Consumer Services Hyperlocal Delivery B2C $5.3 Mn Girish Patel, Anil Singhvi, Ajinkya Firodia, Rajiv Jain Girish Patel
25 Jul 2024 Nasher Miles Ecommerce D2C B2C $4 Mn Narendra Rathi, Sulabh Arya, Mohit Goyal
25 Jul 2024 Devnagri Enterprise Tech Horizontal SaaS B2B pre-Series A Inflection Point Ventures, Software Technology Parks of India Inflection Point Ventures
24 Jul 2024 Pneucons Ecommerce B2B Ecommerce B2B Tarun Mehta Tarun Mehta
24 Jul 2024 Godaam Innovations Agritech Market Linkage B2B FAAD Capital FAAD Capital
24 Jul 2024 VedaFit Foods Agritech Market Linkage B2B-B2C FAAD Capital FAAD Capital
24 Jul 2024 Aqin Biotech Agritech Farm Inputs B2B FAAD Capital FAAD Capital
24 Jul 2024 Mkelly Biotech Agritech Market Linkage B2B-B2C FAAD Capital FAAD Capital
26 Jul 2024 Mayhem Studios Media & Entertainment Gaming B2C Lumikai Lumikai
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Despite the plunge in overall funding aggregated, fintech emerged as an investor favourite in the week. The week’s top two fund rounds, Stable Money’s $14.7 Mn Series A round and NeoGrowth’s $11 Mn debt, took fintech to the top spot at a sectoral level.
  • The week saw FAAD Capital backing four agritech startups with an infusion of over $121K. The firm’s investment turned agritech as the sector with the maximum number of deals and FAAD as the most active investor in the startup ecosystem.
  • The week saw no seed funding deal materialise.

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week

Other Major Developments Of The Week

  • During the budget speech, finance minister Nirmala Sitharaman announced the setting up of an INR 1,000 Cr venture capital (VC) fund. She said that the government has increased its focus on the space economy and private sector-driven research and innovation at the commercial scale.
  • Packaged food startup Wingreens Farms is eyeing the raise of $4.3 Mn debt from investors including S Gupta Family Investments, Saket Agarwal, Reena Singhal, Sanjeev Agarwal, among others
  • In an exchange filing, beauty ecommerce major Nykaa said that it is looking to raise INR 125 Cr (about $15 Mn) via non-convertible debentures (NCDs) from an undisclosed foreign portfolio investor. Its board has approved and authorised the issuance of up to 12,500 NCDs at a face value of INR 1 Lakh each to raise the amount.
  • Adtech unicorn InMobi-owned mobile content provider Glance is in advanced talks with existing investors, including Google, to raise $250 Mn. The talks are expected to materialise in the coming weeks.
  • Former defence secretary Ajay Kumar led venture capitalist firm MountTech Growth Fund has marked the first close of its fund Kavach at INR 250 Cr (around $29.9 Mn). The VC is targeting a total corpus of INR 500 Cr for Kavach. 
  • Electric mobility startup Kazam is raising $5 Mn in a funding round led by Licious and Vertex Ventures. It plans to use the capital to fuel its growth and expansion plans.
  • PharmEasy-owned diagnostics platform Thyrocare Technologies is acquiring the Punjab-based pathology diagnostic business of Polo Labs to expand its presence in northern India.
  • EV major Ola Electric is looking at a public listing as early as in the first fortnight of August. It plans to raise around $740 Mn via a combination of a fresh issue and an offer for sale.
  • Captain Fresh is looking to acquire Poland-based food and beverage manufacturing company Koral to expand its footprint in the European market.

 

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week-Inc42 Media
From Stable Money To Incuspaze – Indian Startups Raised $43 Mn This Week-Inc42 Media
You’re in Good company