Indian startups cumulatively raised $112.9 Mn via 22 deals, down almost 50% from last week's $222.2 Mn secured through 25 deals
While Ola Electric made its public market debut this week, FirstCry and Unicommerce are set to get listed in the first half of the coming week
Omnivore VC and CRED’s founder Kunal Shah emerged as the most active investors this week, backing two startups each
Amid mounting global geopolitical tensions, funding momentum in the Indian startup ecosystem took a significant hit. Between August 5 and 10, startups cumulatively raised $112.9 Mn via 22 deals, down almost 50% from $222.2 Mn secured through 25 deals in the preceding week.
While startups failed to see traction with investors at a broader level, Ola Electric made its public market debut this week. Besides, FirstCry and Unicommerce are also set to get listed in the first half of next week.
Funding Galore: Indian Startup Funding Of The Week [Aug 5 – Aug 10]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
7 Aug 2024
Visit Health
Healthtech
Telemedicine
B2B
$29.8 Mn
–
–
–
3 Aug 2024
Sharechat*
Media & Entertainment
Social Media & Chat
B2C
$16 Mn
Debt
EDBI
EDBI
5 Aug 2024
Agrizy
Agritech
Market Linkage
B2B-B2C
$9.8 Mn
Series A
Accion, Omnivore, Capria Ventures, Thai Wah Ventures, Ankur Capital
Accion, Omnivore, Capria Ventures
8 Aug 2024
Scimplify
Enterprise Tech
Enterprise Services
B2B
$9.5 Mn
Series A
Omnivore, Bertelsmann India Investments, 3one4 Capital, Beenext
Omnivore, Bertelsmann India Investments
5 Aug 2024
Country Delight
Ecommerce
D2C
B2C
$8.3 Mn
Debt
Alteria Capital
Alteria Capital
7 Aug 2024
kindlife
Ecommerce
D2C
B2C
$8 Mn
Series A
TK Fund, MIXI Global Investments, Kalaari Capital
TK Fund, MIXI Global Investments
7 Aug 2024
BlueBinaries
Enterprise Tech
Enterprise Services
B2B
$7.1 Mn
–
Anicut Capital
Anicut Capital
6 Aug 2024
Punch
Fintech
Investment Tech
B2C
$7 Mn
Seed
Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, Innoven Capital, Kunal Shah, Vatsal Singhal, Nitish Mittersain
Stellaris Venture Partners, Susquehanna Asia VC, Prime Venture Partners, Innoven Capital
6 Aug 2024
EtherealX
Deeptech
Spacetech
B2B
$5 Mn
Seed
YourNest, BIG Global Investments JSC, BlueHill Capital, Campus Fund, Golden Sparrow Ventures
YourNest
7 Aug 2024
SigTuple
Healthtech
MedTech
B2B
$4 Mn
Series C
Sidbi Venture Capital, Endiya Partners
Sidbi Venture Capital
6 Aug 2024
Juleo
Media & Entertainment
Social Media & Chat
B2C
$2.5 Mn
–
Ramakant Sharma, Kunal Shah, Ruchi Deepak, Leo Puri, Harsh Jain, Lalit Keshre
–
5 Aug 2024
Neuron Energy
Cleantech
Electric Vehicle
B2B
$2.3 Mn
Series A
Chona Family Office, Capri Global Family Office
–
6 Aug 2024
Burma Burma Restaurant and Tea Room
Consumer Services
–
B2C
$2 Mn
–
Negen Capital
–
6 Aug 2024
Latambarcem Brewers
Alcoholic Beverage
Alcoholic Beverage
B2C
$1.5 Mn
pre-Series A
LBB Investor SPV, Dhruv Agarwala, Sheba Venture Holding
LBB Investor SPV
7 Aug 2024
Karma Primary Healthcare
Healthtech
Telemedicine
B2C
$1.3 Mn
Series A
UBS Optimus Foundation, 1Crowd
UBS Optimus Foundation
8 Aug 2024
Oneiric11 Gaming
Media & Entertainment
Gaming
B2C
$1 Mn
pre-Series A
NG Family Trust, TAC Holdings
NG Family Trust, TAC Holdings
6 Aug 2024
Cellivate Technologies
Enterprise Tech
Enterprise Services
B2B
$1 Mn
Seed
Antler, Venture Catalysts, Hatcher+, We Founder Circle
Antler
5 Aug 2024
CURRYiT
Ecommerce
D2C
B2C
$536K
–
RK Family Trust, Tangent Advisors, Freeflow Ventures, Ramesh Damani, Ajaya Jain
–
9 Aug 2024
NuvoRetail
Enterprise Tech
Enterprise Services
B2B
$350K
–
–
–
6 Aug 2024
Ippopay
Fintech
Payments
B2C
–
–
Mithun Sacheti, Siddhartha Sacheti
–
8 Aug 2024
Weavings Manpower Solutions
Enterprise Tech
Enterprise Services
B2B
–
–
Gruhas
Gruhas
8 Aug 2024
FlexiBees
Enterprise Tech
Horizontal SaaS
B2B-B2C
–
pre-Series A
Inflection Point Ventures, Shan M S, Reema Mahajan
Inflection Point Ventures
Source: Inc42
*Included this week as it was skipped last week
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
- Fuelled by this week’s largest funding round of Visit Health, healthtech emerged to dominate sectoral funding trends. Three healthtech startups cumulatively bagged $35.1 Mn in the week.
- Enterprise tech continued to reign as the investor favourite this week, with startups bagging the maximum number of cheques this week. Enterprise tech startups bagged $17.9 Mn via six deals in the week.
- Delhi based venture capital fund Omnivore VC and CRED’s founder Kunal Shah emerged as the most active investors this week, backing two startups each.
- Seed funding continued its upward streak this week, with startup’s at this stage raising $13 Mn, 2.5X from the previous week’s $5.1 Mn.
Other Developments Of The Week
- Instawork bought Bengaluru-based hiring platform Able Jobs for an undisclosed deal to scale up its global job market with new tools and offerings
- India Inflection Opportunity Fund manager Pantomath Capital Management launched its second AIF, Bharat Value Fund (BVF), this week. It will invest in companies with an intent to make an exit via an initial public offering within three years with an average ticket size of INR 75 Cr.
- VC firm Sauc.vc marked the final close of its third fund at INR 365 Cr (nearly $43.6 Mn). 95% of its capital was raised from domestic investors, and include top consumer focused family offices, fund of funds, corporates and HNIs.
- Continuing with its expansion spree, listed gaming major Nazara has got the letter of intent to acquire bankrupt Smaaash Entertainment this week, and will also be acquiring UK-based IP gaming studio Fusebox Games for INR 228 Cr ($27.2 Mn) in an all-cash deal.
- SoftBank said that it was sitting on a gross gain of $285 Mn from its investment (via Vision Fund I) in listed logistics unicorn Delhivery at the end of June 2024.
- Dalmia Group Holdings’ chairman Gaurav Dalmia has joined Fashion Entrepreneur Fund as investor and promoter.
