Indian startups raised $159 Mn across 18 funding deals, a mark up of 19% week-on-week
Rainmatter-backed Game Theory acquired sports analytics startup Matchday.ai for an undisclosed amount
India might get its second unicorn of 2023, as fintech startup Incred announced receiving commitments of $60 Mn, which will allow it to join the unicorn club
The second week of November saw a revival in startup funding, aligning with the festive spirit.
Between November 6 and November 10, Indian startups garnered a collective $159 Mn across 18 deals, marking a 19.5% uptick from the previous week’s $133 Mn total funding.
Funding Galore: Indian Startup Funding Of The Week [Nov 6 – Nov 10]
|Date||Name||Sector||Subsector||Business Model||Funding Round Size||Funding Round Type||Investors||Lead Investor|
|7 Nov 2023||Xpressbees||Logistics||Ecommerce Logistics||B2B||$80 Mn||–||Ontario Teachers’ Pension Plan|
|8 Nov 2023||Zepto||Consumer Services||Hyperlocal Delivery||B2C||$31 Mn||Series E||Goodwater Capital, Nexus Venture Partners, Oliver and Lish Jiung, Mangum II LLC||Goodwater Capital, Nexus Venture Partners|
|6 Nov 2023||Euler Motors||Cleantech||Electric Vehicle||B2B||$14.4 Mn||Series C||British Internation Invetment (BII), Green Frontier Capital, Athera Venture Partners, ADB Ventures, Blume Ventures, Alteria Capital, GIC Singapore, QRG Holdings||British Internation Invetment (BII), Green Frontier Capital|
|7 Nov 2023||Sequretek||Enterprisetech||Horizontal SaaS||B2B||$8 Mn||Series A||Omidyar Network India, Narottam Sekhsaria Family Office, Alteria Capital||Omidyar Network India|
|9 Nov 2023||GoMechanic||Consumer Services||Hyperlocal Services||B2B-B2C||$6 Mn||Stride Ventures|
|7 Nov 2023||Vaaree||Ecommerce||D2C||B2C||$4 Mn||–||Peak XV’s Surge, PeerCapital, All In Capital, Better Capital||Peak XV’s Surge|
|7 Nov 2023||Bimaplan||Fintech||Fintech SaaS||B2B||$3.5 Mn||Pre-Series A||Orios Venture Partners, Finsight Ventures, 2am VC||Orios Venture Partners|
|8 Nov 2023||LivSYT||Real Estate Tech||Real Estate SaaS||B2B||$2.5 Mn||Seed Round||Valley Quad, Inventus Capital||Valley Quad, Inventus Capital|
|8 Nov 2023||Quickwork||Enterprisetech||Horizontal SaaS||B2B||$2.5 Mn||Pre-Series A2||DMI Alternative Investment Fund, NIS Venture Group||DMI Alternative Investment Fund, NIS Venture Group|
|8 Nov 2023||WishCare||Ecommerce||D2C||B2C||$2.4 Mn||–||Unilever Ventures|
|6 Nov 2023||mirAR||Deeptech||AR/VR||B2B||$1.75 Mn||–||Diaspark Inc|
|7 Nov 2023||OnFinance Ai||Fintech||Fintech SaaS||B2B||$1.05 Mn||Seed||Silverneedle Ventures, IAN, LetsVenture Fund, SSV Fund, Kunal Shah||Silverneedle Ventures, IAN|
|8 Nov 2023||BranchX||Fintech||Banking||B2C||$900K||Bridge||Abdul Khaliq, Rais Motlekar, Afzal Modak|
|8 Nov 2023||Offee||Edtech||Edtech SaaS||B2B||$630K||–||JITO Incubation and Innovation Fund, Bombay Industry Association|
|9 Nov 2023||Natch||Ecommerce||D2C||B2C||$360K||Seed||Artha Venture Fund, DSP Family Office||Artha Venture Fund|
|6 Nov 2023||Varco Leg Care||Healthtech||Fitness & Wellness||B2C||$240K||Neeraj Garg||Neeraj Garg|
|6 Nov 2023||Himshakti||Ecommerce||D2C||B2C||$99.8K||–||We Founder Circle|
|9 Nov 2023||O’ Be Cocktails||Alcohol Beverage||Alcohol Beverage||B2C||–||Pre-Series A||IPV||IPV|
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
- Bengaluru-based B2B logistics startup Xpressbees bagged $80 Mn from the Ontario Teachers’ Pension Plan, making it the biggest funding deal of the week.
- Fuelled by Xpressbees funding, the enterprisetech sector emerged as the most funded sector, raising $80 Mn.
- The ecommerce sector witnessed the most number of deals this week. The sector bagged $6.8 Mn across four deals.
- This week, the seed funding saw a marginal improvement with $3.9 Mn being raised across three deals.
- Alteria Capital was the busiest investor of this week as it participated in two deals.
Other Major Developments From This Week
- Rainmatter-backed Game Theory acquired sports analytics startup Matchday.ai for an undisclosed amount.
- India might get its second unicorn of 2023, as fintech startup Incred announced receiving commitments of $60 Mn, which will allow it to join the unicorn club.
- Travel Boutique Online, or TBO Tek Ltd, has filed its draft red herring prospectus (DRHP) to raise upto INR 400 Cr through a fresh issue of shares. The IPO offer also includes an offer-for-sale (OFS) component of 1.56 Cr equity shares.
- In a big relief to BYJU’S, the family office of Manipal Group chairman Ranjan Pai has acquired the $250 Mn debt availed by Aakash Educational Services Limited (AESL) from Davidson Kempner.