Indian startups cumulatively raised $466.1 Mn via 22 deals, a 75% jump from the $265.2 Mn raised across 16 deals in the preceding week
Quick commerce major Zepto raised $340 Mn in a ‘follow on financing’ round in the week
VC firm Antler was the most active investor this week, backing two startups
Funding momentum across the Indian startup ecosystem gathered steam in the final week of the ongoing month. Between August 26 and 31, startups cumulatively raised $466.1 Mn across 22 deals, a 75% jump from $265.2 Mn secured via 16 deals in the preceding week.
Funding Galore: Indian Startup Funding Of The Week [ Aug 26 -31 ]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
30 Aug 2024
Zepto
Consumer Services
Hyperlocal Services
B2C
$340 Mn
–
General Catalyst, Dragon Fund, Epiq Capital, StepStone, Lightspeed, DST, Contrary
General Catalyst
31 Aug 2024
Blue Tokai
Ecommerce
D2C
B2C
$35 Mn
Series C
Verlinvest, Anicut Capital, A91 Partners
Verlinvest
26 Aug 2024
Yubi Group
Fintech
Lending Tech
B2B
$29.8 Mn
–
Gaurav Kumar
Gaurav Kumar
30 Aug 2024
Agrim
Agritech
Market Linkage
B2B
$17.3 Mn
Series B
Asia Impact
Asia Impact
29 Aug 2024
Piligrim
Ecommerce
D2C
B2C
$9 Mn
Series B
Fireside Ventures, Vertex Ventures, NSFO Ventures, Mirabilis Investment, NABS Vriddhi
Fireside Ventures, Vertex Ventures
26 Aug 2024
HouseEazy
Real Estate Tech
Listing & Discovery
B2C
$7 Mn
Series A
Chiratae Ventures, Alteria Capital, Antler
Chiratae Ventures
27 Aug 2024
Convin
Fintech
Fintech SaaS
B2B
$6.5 Mn
Series A
India Quotient, JSW Ventures, Kalaari Capital, Titan Capital Winners Fund, Sparrow Capital, 100 Unicorns
India Quotient, JSW Ventures
27 Aug 2024
Finarkein Analytics
Fintech
Fintech SaaS
B2B
$4.7 Mn
pre-Series A
Nexus Venture Partners, IIFL, Eximius Ventures, Nitin Gupta, Chirag Jain
Nexus Venture Partners
27 Aug 2024
Kreedo
Edtech
Edtech SaaS
B2B
$4 Mn
Series A
Heritas Capital, UBS Optimus Foundation, Gray Matters Capital, 1Crowd, Chennai Angels, Joka Angel Network
Heritas Capital
27 Aug 2024
plutos One
Fintech
Payments
B2C
$2 Mn
Seed
StartupXseed, Genesia Ventures, Auxano Capital, Raghuvanshi Investments
StartupXseed
28 Aug 2024
Sunfox Technologies
Healthtech
Healthcare SaaS
B2B
$1.8 Mn
–
Venture Catalysts, IA Growth Opportunities Fund I, Brew Opportunities Fund, Universal Group, RP Singhvi Group
Venture Catalysts
28 Aug 2024
Laiqa Wellness
Ecommerce
D2C
B2C
$1.8 Mn
Seed
IvyCap Ventures
IvyCap Ventures
27 Aug 2024
Just Words
Enterprise Tech
Horizontal SaaS
B2B
$1.7 Mn
Seed
Peak XV Partners, Y Combinator
Peak XV Partners, Y Combinator
27 Aug 2024
DeepMatrix
Enterprise Tech
Horizontal SaaS
B2B
$1.6 Mn
pre-Series A
YourNest, Arali Ventures, Abhishek Goyal
YourNest, Arali Ventures
28 Aug 2024
ProFinTech Technologies
Fintech
Lending Tech
B2B
$1.4 Mn
Seed
K.I. Varaprasad Reddy family office, Rahul Gedupudi family office, Sreeman Chalasani family office, Srinivas Kalagara family office
K.I. Varaprasad Reddy family office, Rahul Gedupudi family office
28 Aug 2024
Cambrian Bioworks
Healthtech
Healthcare Services
B2B
$1.4 Mn
Seed
Irani family office, Vaibhav Hegde
Irani family office
27 Aug 2024
InsurancePadosi
Fintech
Insurtech
B2C
$500K
pre-Seed
Antler, Hemant Kaul, Satish Pillai
Antler
29 Aug 2024
ODA Class
Edtech
K-12
B2C
$500K
Series B
–
–
29 Aug 2024
Medront
Consumer Services
–
B2C
$126.4K
pre-Seed
Inflection Point Ventures
Inflection Point Ventures
26 Aug 2024
Metaman
Ecommerce
D2C
B2C
–
–
KL Rahul
KL Rahul
27 Aug 2024
OneMoney
Fintech
Fintech SaaS
B2B
–
–
Equal
Equal
28 Aug 2024
Better Nutrition
Ecommerce
D2C
B2C
–
–
Pankaj Bhadouria
Pankaj Bhadouria
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
- After weeks of speculation, quick commerce major Zepto announced that it has bagged $340 Mn in a ‘follow-on financing’ round, led by General Catalyst, at a valuation of $5 Bn.
- Buoyed by Zepto’s mega funding round, the consumer services sector emerged as a sectoral leader this week with startups in the segment raising $340.1 Mn via two deals.
- Fintech and ecommerce sectors trailed consumer services at a sectoral level. While ecommerce sector saw startups raising $45.8 Mn via five deals, fintech startups bagged $44.9 Mn across seven deals.
- Venture Capital firm Antler was the most active investor this week, backing two startups.
- Seed funding zoomed in the week to $8.3 Mn from the $1 Mn raised by startups at this level last week.
Mergers and Acquisitions This Week
- VerSe Innovation acquired digital marketing solutions firm Valueleaf Group in an undisclosed deal during the week.
- SaaS unicorn BrowserStack acquired enterprise tech platform Bird Eats Bug in a $20 Mn deal. With this acquisition, the startup will leverage the enterprise tech platform’s tech stack to streamline bug reporting processes.
Other Developments Of The Week
- Early stage VC fund Whiteboard Capital marked the final close of its second fund at INR 300 Cr, doubling the initial target of INR 150 Cr.
- Actor Amitabh Bachchan’s family office reportedly bought a minority stake in foodtech major Swiggy ahead of its IPO.
- D2C meat delivery startup Zappfresh’s parent, DSM Fresh Foods Ltd, filed its draft red herring prospectus (DRHP) for listing on the SME platform of BSE, BSE SME.
- Startup incubator T9L QUBE roped in cricketer Virender Sehwag as an investor.
- VC firm Aroa Venture Partners secured an investment commitment of INR 40 Cr ($4.8 Mn) from Small Industries Development Bank of India (SIDBI).
- Edtech startup Eruditus is in talks to raise $150 Mn in a fresh funding round led by Texas-based private equity firm TPG at a likely valuation of $2.3 Bn.
