From Vivifi To Krutrim — Indian Startups Raised $170 Mn This Week

Funding momentum across India’s startup ecosystem gained steam after a marginal dip. Between January 22 and 27, startups have collectively raised $170 Mn across 13 deals, which is 25% higher than $136 Mn across 21 deals raised in the previous week.

Interestingly, the week also saw Ola cofounder Bhavish Aggarwal’s third venture – Krutrim raising $50 Mn to become India’s first AI unicorn and 113th in the country’s startup list with a valuation of more than a billion dollars.

Funding Galore: Indian Startup Funding Of The Week [Jan 22 – Jan 27]

Key Startup Funding Highlights Of The Week

• Hyderabad-based NBFC Vivifi India Finance Pvt Ltd secured $75 Mn, making the biggest funding round of this week.
• Fuelled by Vivifi’s funding, fintech emerged as the most funded sector this week.
• The fintech sector and ecommerce reported a maximum of three deals this week. While the fintech sector raised $91.6 Mn, the ecommerce sector managed to bag $17.8 Mn.
• This week, seed funding rose to $9.2 Mn across five deals.

Startup Acquisitions This Week

• Publicly listed gaming company Nazara Games’ subsidiary NODWIN Gaming has acquired 100% stakes in Comic Con India for INR 55 Cr ($6 Mn) in a cash and stock deal.
• MakeMyTrip acquired a majority stake in intercity cab service provider Savaari Car Rentals to expand its offerings.

Other Major Developments From This Week

• IPO-bound OYO in talks to raise $400 Mn in funding from Malaysia’s sovereign fund  Khazanah Nasional Berhad at a downround of $6 Bn.
• Orios Venture Partners has returned INR 300 Cr to its Fund I investors.
• SaaS startup Perfios is eyeing to raise $500 Mn (INR 4,156 Cr) through initial public offering (IPO) at a $2Bn valuation. 
• WeWork India launched a new programme under its WeWork Labs initiative – JumpStart that will help in facilitating fundraise.
• Vijay Kedia-backed TAC Infosec Limited has filed its draft red herring prospectus (DRHP) to list on the NSE’s small and medium enterprises (SME) focussed platform NSE Emerge.
• Fintechs startup Equirus rolled out an early-stage fund – Equirus InnovateX Fund to invest in tech startups. The fund intends to raise $25 Mn