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SUMMARY
The Indian startup ecosystem has raised around $791 Mn across 27 deals between June 20 and 25, 2022
The week saw SaaS-based startup LeadSquared entering the unicorn club after raising $135 Mn in funding
Gaming startup Adda52’s parent entity has filed for INR 550 Cr IPO
This week, the Indian startup ecosystem has managed to raise $791 Mn across 27 deals. This is a slight dip of 6.2% from the last week, when the startup ecosystem managed to raise $844 Mn in investment across 31 deals.
This week also saw startup LeadSquared achieving the unicorn status with $153 Mn capital infusion from Uncorrelated Ventures, Fasanara Capital and Abstract Ventures.
Further, this week also saw Stashfin securing $275 Mn in its Series C round.
Most active investors this week were Eight Road Ventures, Kunal Shah, Aditya Birla Ventures and F-Prime Capital as they had invested in two deals each.
The Indian Startup Funding Deals Of The Week
Updates On Indian Startup IPOs
Gaming Platform Adda52’s Parent Filed For INR 550 Cr IPO
Deltatech Gaming Limited is likely to become the second Indian gaming company after Nazara to go public. Parent entity of Adda52 – Deltatech Gaming Limited has filed for INR 550 Cr draft red herring prospectus (DRHP) with the market regulator SEBI. The IPO offer will include fresh issue of shares worth INR 300 Cr, and an offer for sale of INR 250 Cr.
From The Startup Acquisition Desk
- IPO-bound fintech giant Pine Labs has acquired fintech infrastructure startup Setu to strengthen its offerings. The deal valued at $70 Mn – 75 Mn
- Food delivery giant Zomato has acquired SoftBank-backed quick commerce giant Blinkit for $568 Mn in a distressed sale
- Online gaming platform WinZO has acquired a majority stake in Gurugram-based startup Upskillz Games in an all-cash deal
- FIXCRAFT, a car repair startup has acquired VMotive, an automotive spares brand Vogo for an undisclosed amount.
Startup Funds This Week
- Mumbai-based private equity fund OAKS Asset Management has raised $115 Mn toward the first closure of its second fund, OAKS Consumer Fund. In the first closure, the fund has been oversubscribed by INR 300 Cr from its original estimate of INR 700 Cr
- Piper Serica has launched a Category 1 Alternative Investment Fund (AIF) – Angel Fund with a corpus of INR 100 Cr to invest in early-stage startups
- VC firm Matrix Partners is said to be looking to raise a $450 Mn fund, as per the firm’s regulatory filing with the US Securities and Exchange Commission (SEC).
- The Kerala government on Wednesday (June 22) approved setting up of INR 250 Cr venture capital (VC) fund to accelerate the growth of startups in the state
Other Developments From The Indian Startup Ecosystem
- Sequoia Capital has announced to increase the ticket size up to $3 Mn for its early-stage funding programme – Sequoia Surge
- D2C roll up aggregator Mensa Brands is going to acquire MensXP, iDiva from Times Internet in a $100 Mn deal
- Founders of Pickrr – Rhitiman Majumder, Gaurav Mangla and Ankit Kaushik have received $32 Mn shares in Shiprocket
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