[Funding Galore] From Contentstack To Lenskart —$344 Mn Raised By Indian Startups This Week

The Indian startup ecosystem got the moolah back in the third week of November. After experiencing a significant drop in funding in the second week of November, funding activities have picked up pace in the third week of November. So, between November 14 and 19, Indian startups have managed to raise $344 Mn across 28 deals.

This is almost 163% higher than $131 Mn that the Indian startup raised last week across 23 deals. However, this week’s funding is 13% lower than the funding raised a week prior when Indian startups raised $394 Mn across 22 deals. 

Though the week didn’t report any mega deal, this week’s biggest cheque was received by Contentstack, a SaaS-based startup which raised $80 Mn in its Series C round from Georgian, Insight Partners, Illuminate Ventures. 

Next comes fintech startup Lentra, which bagged $60 Mn in its Series B round from Bessemer Venture Partners, SIG and Citi Ventures. This week’s third largest funding was raised by Blackstone acquired Simplilearn. The edtech startup raised $45 Mn in a new round of funding from GSV Ventures, and Clal Insurance and DisruptAD.

Funding Deals Of The Week

Other Development Of The Week

• Onmove, a trucking aggregator startup has acquired Hyderabad-based Transin Logistics for an undisclosed amount
• Healthtech startup Medi Assist Healthcare has acquired a majority stake in a UK-based healthcare administration service provider Mayfair We Care 
• Taking a note of global shortage of semiconductor, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology said that the Indian government has earmarked INR 1,000 Cr fund for semiconductor design startups
• Fintech startup InCred has launched a credit fund – InCred Credit Opportunities Fund I (ICOF I) with a fund size of INR 500 Cr and a greenshoe option of another INR 500 Cr 
• HDFC Capital’s tech platform H@ART has committed investments in 15 proptech startups
• Early-stage VC firm Elev8 Venture Partners has received a commitment of $100 Mn from South Korea’s KB Investment.