Indian Startup Funding — Startups Raised $270 Mn This Week

SUMMARY

— Between February 10 and 15, Indian startups raised $270.2 Mn across 22 deals, a 116% increase from the $124.6 Mn raised across 21 deals in the previous week

Fintech reaffirmed its dominance in the sector-wise funding trends this week, seeing the highest fund deployment and funding deals materialise

CaratLane's founder Mithun Sacheti was the most active investor this week, backing BorderPlus and Bold Care

After weeks-long lull in private investments, funding momentum picked up in the world’s third largest startup ecosystem during the second week of the ongoing month. Between February 10 and 15, Indian startups raised $270.2 Mn across 22 deals, a more than 2X jump from the $124.6 Mn raised across 21 deals in the previous week.

Funding Galore: Indian Startup Funding Of The Week [ Feb 10 – Feb 15 ]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
11 Feb 2025	ToneTag	Fintech	Payments	B2B	$77.5 Mn	Series B	ValueQuest Scale Fund, Iron Pillar, Elevate Capital	ValueQuest Scale Fund, Iron Pillar
13 Feb 2025	SpotDraft	Enterprisetech	Horizontal SaaS	B2B	$54 Mn	Series B	Vertex Growth, Trident Partners, Xeed VC, Arkam Ventures, Prosus Ventures, Premji Invest	Vertex Growth, Trident Partners
11 Feb 2025	Zeta	Fintech	Fintech SaaS	B2B	$50 Mn	–	Optum	Optum
14 Feb 2025	PMI Electro Mobility	Cleantech	Electric Vehicle	B2B	$29 Mn	–	Authum Investment & Infrastructure, Gruhas, Antique Securities	–
12 Feb 2025	Lucidity	Enterprisetech	Horizontal SaaS	B2B	$21 Mn	Series A	WestBridge Capital, Alpha Wave	WestBridge Capital
10 Feb 2025	BorderPlus	Edtech	Skill Development	B2B-B2C	$7 Mn	–	Owl Ventures, Mithun Sacheti, Ritesh Agarwal, Apoorva Patni, Binny Bansal	Owl Ventures
12 Feb 2025	CapGrid Solutions	Enterprisetech	Enterprise Services	B2B	$5 Mn	Series A	Anicut Growth Fund, Nexus Venture Partners, Axilor Ventures, chairman Sunjay Kapur, Vivek Vikram Singh	Anicut Growth Fund
11 Feb 2025	Bold Care	Ecommerce	D2C	B2C	$5 Mn	Series A	Rainmatter, Mithun Sacheti, Siddhartha Sacheti, Gruhas Collective Consumer Fund, Claris Capital, MGA Ventures LLP, NB Ventures Limited, AP Partners	Rainmatter
12 Feb 2025	Toonsutra	Media & Entertainment	Digital Media	B2C	$3.2 Mn	Seed	Holtzbrinck Publishing Group, Google, GMJP, T-Accelerate Capital, Graphic India	Holtzbrinck Publishing Group
8 Feb 2025	Eduvanz**	Fintech	Lending Tech	B2C	$2.9 Mn	–	Juvo Ventures, Capria Fund, Peak XV Partners, Unitus Ventures	Juvo Ventures, Capria Fund
12 Feb 2025	Mysa	Fintech	Fintech SaaS	B2B	$2.8 Mn	Seed	Blume Ventures, Emphasis Ventures, Antler, Neon Fund	Blume Ventures
8 Feb 2025	Cremeitalia**	Ecommerce	D2C	B2C	$2.1 Mn	Series A	Amit Jatia Family Office, B2V Ventures, Nikhil Vora, Vikram Saboo, Arunkumar Jatia, Vitalis Capital Family Trust, Anil Mittal Family Office	Amit Jatia Family Office
13 Feb 2025	Anscer Robotics	Deeptech	IoT & Hardware	B2B	$2 Mn	Seed	Info Edge Ventures	Info Edge Ventures
12 Feb 2025	ArthAlpha	Fintech	Fintech SaaS	B2B	$2 Mn	–	DSP	DSP
14 Feb 2025	Almond.ai	Enterprisetech	Horizontal SaaS	B2B	$1.9 Mn	Seed	JIIF, Venture Catalyst, Ever Grow Capital, Nine ALPS, Hemant Jain, Nitin Jain	JIIF
14 Feb 2025	Raincheck Earth Co.	Alcoholic Beverage	–	B2C	$1.2 Mn	pre-Series A	AngelList India Syndicate	–
12 Feb 2025	Vidysea	Edtech	–	B2C	$1 Mn	Seed	Zee Learn Limited, Aarvi Family LLP	Zee Learn Limited, Aarvi Family LLP
10 Feb 2025	Rupeeflo	Fintech	Banking	B2C	$1 Mn	pre-Seed	Piper Serica Angel Fund, Ravi Shankar, Kishore Natarajan, Kedar Kulkarni	Piper Serica Angel Fund
11 Feb 2025	The Honest Home Company	Ecommerce	D2C	B2C	$800K	pre-Series A	OG Capital, Gaurav Verma, Anupam Mitta	OG Capital, Gaurav Verma
12 Feb 2025	GoRally	Consumer Services	Hyperlocal Services	B2C	$750K	pre-Seed	Sujeet Kumar, Mohit Kumar, Vatsal Singhal, Viren Singhvi, Kartik Kapoor, Abhishek Goyal, Deepak Singh, Arjun Vaidya, Bharat Founders Fund	Sujeet Kumar
12 Feb 2025	Rapture Innovation Labs	Ecommerce	D2C	B2C	$58K	–	Peyush Bansal	Peyush Bansal
10 Feb 2025	Rubyworks	Fintech	Fintech SaaS	B2B	–	pre-Series A	–	–
	Source: Inc42 Part of a larger round *Included this week as it was skipped last week Note: Only disclosed funding rounds have been included

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News

Key Startup Funding Highlights Of The Week

Fintech reaffirmed its dominance in the sector-wise funding trends this week, seeing the highest fund deployment and funding deals materialise. Seven startups operating in the sector raised $136.2 Mn last week.
Trailing fintech, enterprisetech and ecommerce segment also saw four deals materialise over the past week with startups in the sectors raising $81.9 Mn and $8 Mn respectively.
Seven startups at the seed stage raised $10.9 Mn this week, marking a 35% week on week increase of investments in startups at this level.
CaratLane’s founder Mithun Sacheti was the most active investor this week, backing BorderPlus and Bold Care.

Mergers & Acquisitions This Week

Recently launched quick commerce startup KiranaPro announced the acquisition of hyperlocal grocery delivery service Joper.app to boost its footprint in the hyperlocal retail space.
BSE SME listed fintech SaaS company Veefin Solutions will be acquiring a controlling stake in digital marketing agency White Rivers Media for $16.7 Mn via its subsidiary Infini Systems Limited.
Zaggle will be acquiring more stake in digital payments service provider Mobileware to up its stake in the company to 42.67%.
California-based LaunchDarkly announced its acquisition of product analytics solution Houseware to deepen its product stack.
B2B digital marketplace Solv is in advanced negotiations for a merger with Bengaluru-based B2B company Jumbotail in a transaction valued at around $50 Mn. The merger will likely be a mix of cash and equity.

Fund Updates This Week

PE firm JV Ventures’ Innovation Acceleration Platform (IXP) launched its first fund with a target corpus of INR 200 Cr to invest in early stage startups. It aims to invest in B2B startups at pre-seed to Series A stages to build a portfolio of 20-25 startups.
Mumbai-based VC firm White Whale Ventures has received SEBI approval to float a Category II Alternative Investment Fund (AIF) secondary deals-focussed fund with a total target corpus of INR 250 Cr.
VC firm Triton marked the first close of its INR 240 Cr second fund at INR 120 Cr. The firm will invest an average of INR 8 Cr to INR 16 Cr in startups in early stage startups operating in sectors like enterprise SaaS, SMB tech, agentic AI, deeptech and tech-enabled services.

Startup IPO Updates Of The Week

SEBI returned the draft red herring prospectus (DRHP) of managed office space provider DevX (Dev Accelerator Ltd) on February 5.
Zetwerk is likely to file its draft papers for an $400-500 Mn IPO in the upcoming six months. It has also reportedly appointed Axis Bank, Goldman Sachs, and Kotak Mahindra as the investment bankers for the IPO.
Last week, IPO-bound Urban Company converted itself into a public entity, renaming the company from “Urbancalp Technologies India Private Limited” to “Urbanclap Technologies India Limited”.

Other Developments Of The Week

Inflection Point Ventures announced the launch of the third cohort of its early stage accelerator programme, IPV Ideaschool, to support early stage startups in refining their ideas, developing business models and helping with an initial investment of INR 1 Cr.
Lahori Jeera’s parent Archian Foods is reportedly nearing the close of INR 400 Cr to INR 450 Cr (about $46-52 Mn) funding round from Motilal Oswal’s private equity arm and other investors.
Nikhil Kamath-led WTFund has selected nine startups for its second cohort. The selected startups under the second cohort will receive a grant funding of up to INR 20 Lakh.
Rapido is set to raise about $29 Mn from Prosus, in what seems like its ongoing Series E round. It has sought the approval from its shareholders to issue 47,743 Series E CCPS to Prosus at an issue price of INR 52,467 per share.
Lending startup Finnable is set to raise INR 30.5 Cr (about $3.5 Mn) in a Series B funding round from investors like TVS Capital and Malpani Group, its regulatory filings showed.