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

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

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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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