[Funding Galore] From CRED To PhysicsWallah — $557 Mn Raised By Indian Startups This Week

The startup ecosystem has managed to cross the ballpark of $500 Mn in investment across 39 deals this week. The startup ecosystem has managed to raise $557 Mn between June 6 and 11. This is 19% up from the $468 Mn funding that the startup ecosystem had raised last week across 27 deals. 

Not only the funding amount increased this week, but also we saw two new entries in the unicorn club – PhsysicWallah and Purplle, thus taking the total count of unicorns with over a billion dollars valuation to 102. 

This week ah! Ventures & Mumbai Angels were the busiest investors as they invested in three deals each.

The Indian Startup Funding Deals Of The Week

Updates On Indian Startup IPOs

Ritesh Agarwal’s OYO Might Reduce Its IPO Size To $800 Mn

Hospitality unicorn OYO is looking to list on the stock exchanges around the Diwali festive season, multiple sources aware of the development informed Inc42. The startup is also likely to reduce its IPO Size from $1.2 Bn to $800 Mn, a 33% drop. 

Fintech Startup MobiKwik To Raise Fresh Round After Delaying IPO

Gurugram-based fintech startup MobiKwik which was once getting ready for IPO and even had filed its DRHP with market regulator SEBI, has now halted its listing plans, and instead will raise funds. The startup is now in talks with investors to raise $100 Mn in funding. The startup had filed its DRHP last year and was planning to raise INR 1,900 Cr through the public market. The startup had also received an approval from SEBI for its IPO. 

From The Startup Acquisition Desk

• Healthtech Unicorn Pristyn Care acquired New Delhi-based healthcare startup Lybrate for an undisclosed amount
• Blue-collar workforce management startup BetterPlace acquired its peer EzeDox in an all-cash deal 
• Technology company Affle has bought additional 13.09% stake in OSlabs Pte Ltd (IndusOs). With this, Affle and its affiliates now have nearly 60% of investor voting rights tied to the issued preference shares in Indus OS.

Startup Funds This Week

• Mumbai-based venture capital firm All In Capital launched a $10 Mn fund for early-stage startups. The fund will dole out cheque size between $100K to $500K in pre-seed and seed funding rounds. It aims to invest in 75 to 100 startups
• VC firm Anicut Capital raised INR 110 Cr, marking the first closure of its INR 500 Cr Anicut Opportunities Fund I. Anicut Capital, through its fund will invest $2 Mn to $5 Mn mostly in growth stage startups 
• India Accelerator announced partnership with Chiratae Sonic, the flagship seed investment initiative of Chiratae Ventures to co-invest in high potential early-stage startups in India
• Maharashtra state government said it will set up an INR 200 Cr women-focused startup fund. The state government intends to invest in early stage deeptech startups. 

Other Developments From The Indian Startup Ecosystem

• As per Inc42’s funding data for May 2022, startups raising funds in Series A, B, and C fell by 37.5%. In April, the growth stage startup raised $800 Mn, which dropped to $500 Mn in May
• Singapore-based Zilingo which has been mired in controversies lately has approved $40 Mn loan repayment that was availed in 2019
• Chinese tech giant ByteDance exited VerSe Innovation, the parent company of DailyHunt, at a 56% discount.