The Indian startup ecosystem has raised around $292 Mn across 21 deals between June 28 and July 2, 2022
The week saw Lenskart acquiring a majority stake in Japanese eyewear brand OWNDAYS for $400 Mn
Healthtech startup Portea has filed INR 1,000 Cr DRHP with market regulator SEBI
After witnessing a rise in funding for four consecutive weeks, the month of June ended on a lower note. Between June 28 to July 2, the startup ecosystem managed to raise $292 Mn across 21 deals. This is a 63% drop from $791 Mn that startups raised last week across 27 deals.
This week did not see any mega deals – funding size of $100 Mn – and neither the week minted any new unicorn.
Most active investors this week were Tiger Global, Matrix Partners, Multiply Ventures, Wami Capital, and MarShot Ventures as they have participated in 2 deals each.
The Indian Startup Funding Deals Of The Week
Updates On Indian Startup IPOs
Logistics Startup Ecom Express To Delay Public Listing
Logistics startup Ecom Express has become the latest to delay its public listing citing market volatility. The startup which was heading for INR 4,680 Cr public listing is now looking to raise funds from private equity and venture capital investors. Ecom Express has reportedly pitched to investors for a round of $100 Mn – $150 Mn capital infusion as per reports.
Healthtech Startup Portea Filed INR 1,000 Cr IPO
Healthvista India Limited, the parent company of out-of-hospital healthcare startup Portea, has filed its draft red herring prospectus (DRHP) worth INR 1,000 Cr with market regulator SEBI.
The startup’s IPO offer comprises a fresh issue of equity shares worth INR 200 Cr and an offer for sale (OFS) of up to 56,252,654 shares worth INR 800 Cr. The startup will see Accel, Ventureast, MEMG CDC Ventures, and Qualcomm Ventures offload their shares during the IPO.
From The Startup Acquisition Desk
- Omnichannel eyewear brand Lenskart has acquired a majority stake in Japanese eyewear brand OWNDAYS in a deal reportedly worth around $400 Mn
- B2B manufacturing unicorn Zetwerk has acquired three firms – SharpTank, Pinaka Aerospace, and Wheels India’s fabrication unit, The Wardha – in an INR 100 Cr deal
- Fintech SaaS startup, Lentra has acquired Chennai-based AI startup TheDataTeam (TDT) for an undisclosed amount
- Coliving startup Housr has acquired Bengaluru-based coliving firm Stay Abode
Startup Funds This Week
- Bertelsmann India Investments (BII) has raised $500 Mn as a part of Bertelsmann’s Boost 25 strategy. Under the new fund, BII will invest in six to eight growth and late-stage startups in the next five years
- Growth-stage venture capital (VC) fund Panthera Growth Partners has launched its Fund II with a corpus of $250 Mn. The VC firm expects to close the second fund by FY23
- ah! Ventures has launched an alternative investment fund (AIF) angel fund that has a corpus of around $14 Mn (INR 100 Cr). The fund also has a green shoe option of INR 50 Cr. The VC firm plans to invest in 30-35 early-stage startups.
Other Developments From The Indian Startup Ecosystem
- Swiggy has initiated its ESOP liquidity program worth $23 Mn. As per the startup, around 900 employees will benefit from this exercise
- Revenue-based growth capital firm N+1 Capital has announced that it will close its maiden fund for HNIs and family offices by September 2022
- SUGAR Cosmetics’ investor L Catterton’s Asian arm is likely to sell some of its portfolio in Asia to the tune of $360 Mn.