Indian Startup Funding — Startups Raised $580 Mn This Week

From Zepto To HealthKart – Indian Startups Raised $580 Mn This Week

SUMMARY

Indian startups cumulatively $579.5 Mn across 18 deals, a 212% increase from the $185.8 Mn raised across 21 deals in the previous week

The week saw two mega funding deals materialise for quick commerce startup Zepto and ecommerce HealthKart

Seed funding also jumped 85% to $10.9 Mn this week

After months of speculations, Zepto finally sealed its third mega funding deal of the year this week. The quick commerce unicorn’s $350 Mn funding round fuelled overall funding momentum in the Indian startup ecosystem during the third week of November.

Between November 18 and 23, startups cumulatively raised $579.5 Mn across 18 deals. This marked a 212% increase from the $185.8 Mn raised across 21 deals in the preceding week.

Funding Galore: Indian Startup Funding Of The Week [ Nov 18 – 23 ]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
22 Nov 2024	Zepto	Consumer Services	Hyperlocal Delivery	B2C	$350 Mn	–	Motilal Oswal, Taparia Family Office, Mankind Pharma Family Office, RP Sanjiv Goenka Group, Cello Family Office, Haldiram Snacks Family Office, Sekhsaria Family Office, Kalyan Family Office, Happy Forgings Family Office, Mothers Recipe Family Office, Abhishek Bachchan, Sachin Tendulkar	Motilal Oswal
18 Nov 2024	HealthKart	Ecommerce	B2C Ecommerce	B2C	$153 Mn	–	ChrysCapital, Motilal Oswal Alternates, Neo Group, A91 Partner	ChrysCapital, Motilal Oswal Alternates
21 Nov 2024	Zopper	FIntech	Fintech SaaS	B2B	$25 Mn	Series D	Elevation Capital, Dharana Capital, Blume Ventures	Elevation Capital, Dharana Capital
21 Nov 2024	Kratos Gaming Network	Media & Entertainment	Gaming	B2C	$10 Mn	–	Aptos Labs, Polygon, Game7	Aptos Labs
20 Nov 2024	Locad	Logistics	Integrated Logistics	B2B	$9 Mn	pre-Series B	Global Ventures, Reefknot Investments, Sumitomo Equity Ventures, Antler Elevate, Febe Ventures, JG Summit	Global Ventures, Reefknot Investments
20 Nov 2024	Blitz	Logistics	Ecommerce Logistics	B2B	$6 Mn	Series A	IvyCap Ventures, IndiaQuotient, Alteria capital, Ramesh Bafna, Siddharth Dungarwal, Vinit Gautam, Amitabh Suri	IvyCap Ventures
20 Nov 2024	Billion Hearts Software Technologies	Comsumer Tech	–	B2C	$4 Mn	Seed	Blume Ventures, General Catalyst, Athera Venture Partners.	–
21 Nov 2024	CredFlow	FIntech	Fintech SaaS	B2B	$3.7 Mn	pre-Series B	Inflexor Ventures	Inflexor Ventures
19 Nov 2024	Proost	Alcoholic Beverages	–	B2C	$3.5 Mn	Series A	Chimes Group, Srinavasan Namala, Hyderabad Angels, The Chennai Angels	Chimes Group, Srinavasan Namala
20 Nov 2024	Doodhvale Farms	Ecommerce	D2C	B2C	$3 Mn	–	Atomic Capital, Singularity Early Opportunities Fund, Indigram Labs Foundation, Ramakant Sharma, Ankit Tandon, Saurabh Jain, Arjun Vaidya	Atomic Capital, Singularity Early Opportunities Fund
20 Nov 2024	Abyom SpaceTech	Deeptech	Spacetech	B2B	$2.5 Mn	Seed	SCOPE Ventures	SCOPE Ventures
19 Nov 2024	Swish	Consumer Services	Hyperlocal Delivery	B2C	$2 Mn	Seed	Accel, Karthik Gurumurthy, Abhiraj Bhal, Varun Khaitan	Accel
18 Nov 2024	Biryani By Kilo	Consumer Services	Hyperlocal Delivery	B2C	$2 Mn	–	Pulsar Capital	Pulsar Capital
19 Nov 2024	Indic Wisdon	Ecommerce	D2C	B2C	$2 Mn	pre-Series A	Rockstud Capital	Rockstud Capital
19 Nov 2024	Theranautilus	Deeptech	Robotics	B2B	$1.2 Mn	Seed	pi Ventures, Golden Sparrow Ventures, Abhishek Goyal, Lalit Keshre	pi Ventures
20 Nov 2024	Taqtics	Enterprisetech	Horizontal SaaS	B2B	$1.2 Mn	Seed	Sprout Venture Partners, Capital-A, Java Capital	Sprout Venture Partners, Capital-A
18 Nov 2024	Matrix Geo Solutions	Deeptech	Spacetech	B2B	$1 Mn	–	Chittorgarh Infotech Limited, Viney Equity Markets LLP, Tryrock Capital, Trust AIF	–
19 Nov 2024	Baanheim Ventures	Media & Entertainment	Digital Media	B2C	$391K	–	Mudhal Partners	Mudhal Partners
	Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included

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Key Startup Funding Highlights Of The Week

Quick commerce major Zepto reaffirmed its position as the most heavily backed startup of the year. Bagging a mega cheque of $350 Mn from investors like Motilal Oswal, Sachin Tendulkar, Mankind Pharma Family Office this week, Zepto’s cumulative fundraise for the year now stands at $1.3 Bn.
On the back of Zepto’s fundraise, the consumer services sector emerged as the investor favourite sector this week. Startups in the space bagged $354 Mn across three deals.
Besides Zepto, the week also saw another mega funding round materialise in the form of HealthKart’s $153 Mn fundraise. With this, the ecommerce sector saw the second highest capital infusion this week. Startups in the space raised $163 Mn across three deals.
Venture capitalist firm Blume Ventures was the most active investor this week, backing fintech startup Zopper and Mayank Bidawatka’s latest venture Billion Hearts.
Seed funding continued its upward movement this week, with startups at this stage cumulatively bagging $10.9 Mn. This marked an 85% jump from the $5.9 Mn raised by startups at this stage last week.

Mergers & Acquisitions This Week

The Good Glamm Group completed the acquisition of D2C mom and baby care brand The Moms Co this week. However, it did not disclose the terms of the transactions.
Moglix bought eco-friendly paper products manufacturer Khatema Fibres for $9.4 Mn to bolster its sustainable packaging portfolio.

Updates On Indian Startup IPOs

Reports this week said that B2B marketplace startup OfBusiness has roped in Axis Capital, Morgan Stanley, JPMorgan, Citigroup and Bank of America for a near $1 Bn IPO in 2025.
With its public issue seeing an oversubscription of 1.86X, shares of logistics major BlackBuck got listed on the BSE and NSE this week at a premium of 2.9%.
Bhavish Aggarwal-led Ola Consumer initiated its IPO journey this week by receiving its shareholder nod to drop the word “private” from the company’s name.

Other Developments Of The Week

IN-SPACe’s chairman Pawan Goenka told Inc42 that the Centre-led INR 1,000 Cr spacetech fund is set to become operational by the first quarter of fiscal year 2025-26 (Q1 FY26).
Solar solutions startup SolarSquare plans to raise $30 Mn at a $130 Mn valuation. This marks a 2.7X jump from its previous valuation of $47.7 Mn.
A secondary share sale at omnichannel eyewear unicorn Lenskart is likely to value $6 Bn, up 20% from its last valuation of $5 Bn.
Hospitality unicorn OYO’s founder Ritesh Agarwal is looking to infuse $65 Mn to increase his stake in the startup.
Listed online travel aggregator MakeMyTrip will be acquiring fintech unicorn CRED’s expense management platform Happay in a bid to become the go-to platform for comprehensive corporate travel and expense management solutions.
Former International Finance Corporations’s executive Sayan Ghosh launched his own VC firm Ortella Global Capital (OG Capital) this week along with a $36 Mn fund.
IIT Bombay’s Society for Innovation & Entrepreneurship (SINE) will be launching its maiden VC fund with a target corpus of $11.8 Mn. Through the fund, it aims to back 1,000 startups over the next 10 years with an average ticket size of INR 2-15 Cr.

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