From Zolve To InsuranceDekho— Indian Startups Raised $288 Mn This Week

From Zolve To InsuranceDekho — Indian Startups Raised $288 Mn This Week

SUMMARY

Indian startups raised $288 Mn across 24 funding deals, marking a142% week-on-week rise

Zerodha’s Nikhil Kamath launched WTF Fund, a funding and mentorship programme for entrepreneurs under the age of 22

Fuelled by Zolve’s funding, the fintech sector emerged as the most funded sector this week, raising $206.7 Mn across six deals

Continuing the funding momentum from the previous week, the second week of October witnessed Indian startups bagging $288 Mn across 24 deals. This week’s funding marks a 142% increase from the $119 Mn secured by Indian startups in the previous week across 11 deals. Additionally, this week also saw a mega deal, as fintech startup Zolve bagged $100 Mn in a debt funding round.

Funding Galore: Indian Startup Funding Of The Week [Oct 9 – Oct 14]

Date	Name	Sector	Subsector	Business Model	Funding Round Size	Funding Round Type	Investors	Lead Investor
11 Oct 2023	Zolve	Fintech	Banking	B2C	$100 Mn	Debt	Community Investment Management (CIM)
11 Oct 2023	InsuranceDekho	Fintech	Insurtech	B2C	$60 Mn	Series B	MUFG, BNP Paribas Cardif, TVS Capital, Goldman Sachs Asset Management, Avataar Ventures
10 Oct 2023	Krutrim SI Designs	Deeptech	IoT & Hardware	B2B	$24 Mn	Debt	Matrix Partners India
9 Oct 2023	Onsurity	Fintech	Insurtech	B2B	$24 Mn	Series B	IFC	IFC
12 Oct 2023	Oro Money	Fintech	Lendingtech	B2C	$12.5 Mn	–	Singularity Ventures, Three State Capital, 021 Capital, PI Opportunities Fund
10 Oct 2023	SuperOps. ai	Enterprisetech	Horizontal SaaS	B2B	$12.4 Mn	Series B	Addition, March Capital, Matrix Partners India	Addition
13 Oct 2023	Age Care Labs	Healthtech	Fitness & Wellness	B2C	$11 Mn	Pre-Series B	Rainmatter Capital, Gruhas
9 Oct 2023	Shiprocket	Logistics	Ecommerce Logistics	B2B	$11 Mn	Bridge Round	McKinsey & Company
11 Oct 2023	Lavie	Ecommerce	D2C	B2C	$9 Mn	–	First Bridge India Growth Fund
12 Oct 2023	Jiraaf	Fintech	Investment Tech	B2C	$8.7 Mn	Series B	Accel Partners, Harmony Partners	Accel Partners, Harmony Partners
9 Oct 2023	Pep	Media & Entertainment	Social Media & Chat	B2C	$2.5 Mn	Seed	India Quotient, Vidit Aatrey, Sanjeev Barnwal, Kunal Shah, Farooq Adam, Parag Bhide, Sambhav Mehrotra, Sridhar Subhramanian, Ravindra Yadav, Sargun Gulati
14 Oct 2023	Imagimake	Ecommerce	D2C	B2C	$2.3 Mn	–	Pidilite Ventures
10 Oct 2023	Meolaa	Ecommerce	B2C Ecommerce	B2C	$2 Mn	Seed	Turbostart
12 Oct 2023	Proxgy	Deeptech	IoT & Hardware	B2B	$2 Mn	Pre-Series A	LetsVenture, Planify Angel Fund, March Tech Fund, Cogniphy Angel Fund, Madhuram Papers Family Office, AKGVG & Associates
12 Oct 2023	KiVi	Agritech	Financial Services	B2B-B2C	$1.7 Mn	Seed	Caspian Leap, Piper Serica Angel Fund, YAN Angel Fund, Impact Innovators and Entrepreneurs Foundation
9 Oct 2023	Oyela	Ecommerce	Social Commerce	B2B-B2C	$1.6 Mn	Seed	Prime Venture Partners	Prime Venture Partners
10 Oct 2023	AuditCue	Fintech	Fintech SaaS	B2B	$1.5 Mn	Seed	Kalaari Capital, Java Capital	Kalaari Capital
10 Oct 2023	Eske Bags	Ecommerce	D2C	B2C	$1.5 Mn	Pre-Series A	Mistry Ventures, Fluid Ventures	Mistry Ventures
12 Oct 2023	OORJA	Cleantech	Electric Vehicle	B2B	$635K	Pre-Series A	IPV, Vinners Platform, Soonicorn Ventures
11 Oct 2023	Curelo	Healthtech	Healthcare Services	B2C	$100K		CIIE. CO
10 Oct 2023	Greto	Ecommerce	D2C	B2C	–	–	Yuvraj Singh
13 Oct 2023	Divine Foods	Ecommerce	D2C	B2C	–	–	Nayanthara, Vignesh Shivan
10 Oct 2023	Nawgati	Enterprisetech	Vertical SaaS	B2B	–	Seed	All in Capital

Key Startup Funding Highlights Of The Week

Fintech neobank startup Zolve raised $100 Mn in a debt funding round from the US-based impact investor Community Investment Management (CIM), making it the biggest funding deal of the week.
Fuelled by Zolve’s funding, the fintech sector emerged as the most funded sector this week, raising $206.7 Mn across six deals
Ecommerce sector witnessed the most deals this week. The sector saw seven deals with $16.4 Mn of funding.
Seed funding activity saw a marginal upswing this week, rising to $9.3 Mn across six deals.
Matrix Partners India was the busiest investor as it participated in two deals this week.

Other Major Developments From This Week

Warner Music India acquired E-Positive, an artist management company, to strengthen its presence in the country’s independent music space.
Singapore-based Jungle Ventures launched First Cheque@Jungle programme to back early stage startups in idea to seed stage.
Delhi NCR-based healthtech startup Zivov is in advanced talks to raise around $5 Mn in its pre-Series A funding round, sources told Inc42.
Nikhil Kamath, the cofounder of bootstrapped unicorn Zerodha, launched WTF Fund, a funding and mentorship programme for entrepreneurs under the age of 22.
Kunal Shah’s CRED is in talks to acquire investech platform Kuvera to enter the fast-growing stock and mutual fund broking market.
WestBridge Capital has acquired a stake in Meesho in a secondary transaction from its early and long-term backer, Venture Highway.