From Whatfix To HomeLane – Indian Startups Raised $432 Mn This Week

From Whatfix To HomeLane – Indian Startups Raised $432 Mn This Week

SUMMARY

Indian startups cumulatively raised $432.2 Mn across 24 deals, a 3% decline from the $447.5 Mn raised last week via 22 deals

The week saw two mega funding round materialise with Whatfix’s $125 Mn fundraise and M2P Fintech’s $101 Mn raise

Peak XV emerged as the most active investor this week, backing Atlys and The Health Factory

Funding momentum across the Indian startup ecosystem continued to remain strong throughout the ongoing month. Between September 23 and 28, startups cumulatively raised $432.2 Mn across 24 deals, marking a 3% drop from the $447.5 Mn raised via 22 deals in the preceding week.

This week, the uptick in investment activity was largely driven by two large-sized deals, which include enterprisetech startup Whatfix bagging $125 Mn and M2P Fintech securing $101 Mn, with both nearing the unicorn status.

Funding Galore: Indian Startup Funding Of The Week [ Sep 23 – Sep 28 ]

Date Name Sector Subsector Business Model Funding Round Size Funding Round Type Investors Lead Investor
25 Sep 2024 Whatfix Enterprisetch Horizontal SaaS B2B $125 Mn Series E Warburg Pincus, SoftBank Warburg Pincus
24 Sep 2024 M2P Fintech Fintech Fintech SaaS B2B $101 Mn Series D Helios Investment Partners, Flourish Venture Helios Investment Partners
24 Sep 2024 Qure.ai Healthtech Healthtech SaaS B2B $65 Mn Series D Lightspeed Venture Partners, 360 ONE Asset Management, Merck Global Health Innovation Fund, Kae Capital, Novo Holdings, Health Quad, TeamFund Lightspeed Venture Partners, 360 ONE Asset Management
24 Sep 2024 Nurix AI Enterprisetch Horizontal SaaS B2B $27.5 Mn Seed Accel, General Catalyst, Meraki Labs Accel, General Catalyst
25 Sep 2024 HomeLane Real Estate Tech Real Estate Services B2C $27 Mn Hero Enterprise
25 Sep 2024 AdOnMo Enterprisetch Horizontal SaaS B2B $25 Mn Rigel Capital, Sinar Mas Rigel Capital, Sinar Mas
24 Sep 2024 Atlys Travel Tech Travel Planning & Activities B2C $20 Mn Series B Peak XV Partners, Elevation Capital Peak XV Partners
23 Sep 2024 The Wellness Co Consumer Services Hyperlocal Services B2C $7.1 Mn EaseMyTrip EaseMyTrip
26 Sep 2024 Two Point O Cleantech Climate Tech B2B $6.3 Mn Seed Omnivore, Multiply Ventures, RTP Global, GrowX, Spectrum Impact Omnivore
25 Sep 2024 Ahammune Biosciences Healthtech Healthcare Services B2B $5 Mn Series A pi Ventures, Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus, Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP, IAN pi Ventures
24 Sep 2024 CoRover Enterprisetch Horizontal SaaS B2B $4 Mn Series A Venture Catalysts, CanBank Venture Capital Fund, IIM Calcutta, IIIT Delhi, Cogniphy LLC, Karekeba Ventures, Lead Angels Venture Catalysts
25 Sep 2024 The Health Factory Ecommerce D2C B2C $3.5 Mn Seed Peak XV, Kartik Mehta, Aliasgar Tambawala, Sunil Tulsiani Peak XV
25 Sep 2024 Atomicwork Enterprisetch Horizontal SaaS B2B $3 Mn Seed Rich Waldron, Avanish Sahai, Arun Penmetsa
27 Sep 2024 Vedantu Edtech K-12 B2C $2.4 Mn Debt Stride Ventures Stride Ventures
24 Sep 2024 Tuco Intelligence Ecommerce D2C B2C $2 Mn Seed Fireside Ventures, Whiteboard Capital, Suashish Group, Vijay Nehra, Arjun Purkayastha Fireside Ventures, Whiteboard Capital
25 Sep 2024 jhana.ai Enterprisetch Vertical SaaS B2B $1.6 Mn Together Fund, Shyamal Anadkat, Scott Davis, Harshil Mathur, Shashank Kumar, CKunal Shah, Cory Levy, Ojas Shukla Together Fund
26 Sep 2024 First Coffee Consumer Services B2C $1.2 Mn Seed BEENEXT, Ashish Gupta, AngelList India, Ritesh Malik, Sahil Malik BEENEXT
25 Sep 2024 aarna.ml Enterprisetch Horizontal SaaS B2B $1.2 Mn Series A Exfinity Venture Partners Exfinity Venture Partners
24 Sep 2024 Pepsales Enterprisetch Horizontal SaaS B2B $1.1 Mn pre-Seed Chiratae Ventures Chiratae Ventures
24 Sep 2024 ORIGHT Agritech Market Linkage B2B $1 Mn Seed Aeravti Ventures Aeravti Ventures
26 Sep 2024 Care.fi Healthtech Healthtech SaaS B2B $956K Debt Wint Wealth, Caspian Debt
25 Sep 2024 Flent Real Estate Tech Shared Spaces B2C $776K pre-Seed WEH Ventures, AM Ventures, Pareto Holdings, Sanchan S Saxena, Aneesh Reddy, Arjun Vaidya, Shradha Sharma, Abhilash N WEH Ventures
23 Sep 2024 Sharang Shakti Deeptech Defencetech B2B $598K pre-Seed AUM Ventures, Venture Highway, JK Group Family office, Appreciate Capital AUM Ventures, Venture Highway
23 Sep 2024 TraqCheck Enterprisetch Horizontal SaaS B2B Seed Caret Capital, Alok Oberoi, Aakash Anand Caret Capital, Alok Oberoi
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Buoyed by Whatfix’s mega funding round, enterprisetech emerged as the investor favourite sector of the week. Besides, the sector witnessed the highest nine deals materialise via which startups raised $188.4 Mn.
  • Fintech was a distant second, seeing M2P Fintech raising $101 Mn only.
  • Venture Capital firm Peak XV was the most active investor this week, backing two startups.
  • Seed funding picked up dramatically this week. Startups at this stage raised $44.5 Mn as against the $2.3 Mn raised during the past week.

From Whatfix To HomeLane – Indian Startups Raised $432 Mn This Week

Startup Fund Launches Of This Week

  • SaaS startup Kissflow’s founder and CEO Suresh Sambandam launched a new VC firm MudhalVC, which aims to invest around INR 125 Cr in 25 to 50 early stage startups, with average ticket size ranging between INR 25 Lakh and INR 1 Cr.
  • VC firm Tribe Capital has partnered with investment firm Oister Global to launch ‘Oister Tribe Ace Fund 1’. With a target corpus of $500 Mn, the fund will serve as the  first alternative investment fund dedicated to secondary transactions.
  • Bengaluru-based AIF Optimistic Capital rolled out a maiden fund INR 200 Cr (around $23.9 Mn) to invest in India’s microbrewery space.

Updates On Indian Startup IPOs

  • Fintech unicorn MobiKwik secured approval from the Securities and Exchange Board of India (SEBI) for its INR 700 Cr initial public offering (IPO). The offer will entirely comprise a fresh issue of equity shares, with no offer for sale component.
  • Foodtech major Swiggy filed updated IPO papers with the SEBI for an INR 3,750 Cr ($450 Mn) IPO. Swiggy’s public issue will comprise a fresh issuance of shares worth INR 3,750 Cr and an offer for sale (OFS) component of 18.53 Cr equity shares.
  • Online furniture rental startup RentoMojo’s founder and CEO Geetansh Bamania will be looking to file its IPO within the next 18 months.
  • SaaS unicorn Fractal is considering filing papers for a $500 Mn IPO with SEBI in November. The IPO will value the startup at $3.5 Bn.

Other Developments Of The Week

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