From Zetwerk To Neo — Indian Startups Raised $237 Mn This Week

SUMMARY

Indian startups raised $237 Mn across 20 funding deals, a decline of 18% week-on-week

Video editing platform provider VideoVerse acquired AI-powered design system Optikka for an undisclosed amount

Fuelled by Zetwerk’s funding, the enterprisetech sector emerged as the most funded sector this week, raising $127 Mn across two deals

Following two weeks of growth in funding, the Indian startup ecosystem witnessed a decline in the third week of October. From October 16 to October 21, 2023, the startup ecosystem raised $237 Mn across 20 deals, marking a 18% downfall compared to $288 Mn raised across 24 deals last week.

Funding Galore: Indian Startup Funding Of The Week [Oct 16 – Oct 21]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
18 Oct 2023	Zetwerk	Enterprisetech	Enterprise Services	B2B	$120 Mn	Series F	Avenir Growth Capital, Lightspeed, Greenoaks Capital, Steadview Capital	Avenir Growth Capital
18 Oct 2023	Neo	Fintech	Investment Tech	B2B	$35 Mn	–	Peak XV Partners
17 Oct 2023	Agnikul Cosmos	Deeptech	Spacetech	B2B	$26.7 Mn	Series B	Celesta Capital, Rocketship. vc, Artha Venture Fund, Artha Select Fund, Mayfield India, pi Ventures, Speciale Invest, Mayfield India
19 Oct 2023	Freight Tiger	Logistics	Freight	B2B	$18 Mn		Tata Motors
17 Oct 2023	Leucine	Enterprisetech	Vertical SaaS	B2B	$7 Mn	Series A	Ecolab, Pravega Ventures, Axilor Ventures, Techstars	Ecolab
16 Oct 2023	Freyr	Cleantech	Solar Tech	B2B-B2C	$6.9 Mn	Series B	EDFI ElectriFI, Schneider Electric Energy Asia Fund (SEEAA), Lotus Capital LLC, Maybright Ventures, VT Capital	EDFI ElectriFI
19 Oct 2023	Showroom B2B	Ecommerce	B2B Ecommerce	B2B	$6.5 Mn	Pre-Series A	Jungle Ventures, Accion Venture Lab, Saison Capital, ICMG Partners	Jungle Ventures
20 Oct 2023	BharatAgri	Agritech	Market Linkage	B2B-B2C	$4.3 Mn	Series A	Arkam Ventures, Capria Ventures, India Quotient 021 Capital, Omnivore	Arkam Ventures
19 Oct 2023	Mokobara	Ecommerce	D2C	B2C	$3.6 Mn	–	Saama Capital, Sauce VC, Alteria Capital
17 Oct 2023	Game Theory	Consumer Services	Hyperlocal Services	B2C	$2 Mn	Pre-Series A	Ranimatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, Balakrishna Adiga
18 Oct 2023	Tap Invest	Fintech	Investment Tech	B2B	$2 Mn	Seed	Turbostart, Snow Leopard Ventures, Kunal Shah, Kashyap Shah
18 Oct 2023	Alwrite	Fintech	Fintech SaaS	B2B	$1.2 Mn	Seed	Apurva Parekh, Viral Thakker, Amit Sheth, Sanjay Bhagat, Shrenik Shah, Sumit Bohra
17 Oct 2023	Omnivio	Logistics	Logistics SaaS	B2B	$1.02 Mn	Seed	Caret Capital, Blume Ventures, Eximius VC, SuniconVenture Fund, Misfits	Caret Capital
19 Oct 2023	HiWi	Fintech	Payments	B2B-B2C	$870K	Pre-Seed	Unicorn India Ventures, Unmaj Group Family Office
17 Oct 2023	Done Deal	Fintech	Investmen Tech	B2B	$800K	Pre-Seed	Gruhas, WFC Capital, Capital-A, Dezerv Innovation Fund, ICE. VC
16 Oct 2023	P-TAL	Ecommerce	D2C	B2C	$520K	Seed	Titan Capital, Anicut Capital, Ghazal Alagh, Sandeep Aggarwal, Vishesh Khurana, Ashutosh Valani, Priyank Shah, Bala Sarda, Deep Bajaj, Mohit Bajaj, Ashish Tulsian, Arjun Vaidya	Titan Capital
19 Oct 2023	Smarter Dharma	Ecommerce	B2B Ecommerce	B2B	$500K	Seed	Rainmatter, Gruhas, Anthill Ventures
19 Oct 2023	Welcome Cure	Healthtech	Telemedicine	B2C	$480K	Pre-Series A	IPV	IPV
20 Oct 2023	Niyo	Fintech	Neobank	B2C	–	–	Spring Marketing Capital
17 Oct 2023	InsurStaq. ai	Fintech	Insurtech	B2B-B2C	–	–	Faad Network

Key Startup Funding Highlights Of The Week

Enterpritech startup Zetwerk raised $120 Mn in a Series F funding round from Avenir Growth, making it the biggest funding deal of the week.
Fuelled by Zetwerk’s funding, the enterpristech sector emerged as the most funded sector this week, raising $127 Mn across two deals.
The fintech sector witnessed the most deals this week. The startups in the sector raised $40 Mn across seven deals.
Seed funding activity saw a significant decline this week, falling to $5.2 Mn across seven deals from $9.3 Mn last week.
Gruhas was the busiest investor as it participated in two deals this week.

Other Major Developments From This Week

Video editing platform provider VideoVerse acquired AI-powered design system Optikka for an undisclosed amount.
Singularity Growth announced the first close of its second fund – Singularity Growth Opportunities Fund II – at INR 500 Cr. The second fund’s total corpus is INR 1,500 Cr.
Beleaguered healthtech startup Mojocare’s board decided that the startup will shut its operations and return remaining capital to investors.
Fintech SaaS startup Perfios conducted an ESOP buyback worth INR 154 Cr, turning 62 of its employees millionaires.

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