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SUMMARY
Around $215 Mn has been raised across 17 deals between February 20 and February 25
The week saw D2C meat startup FreshToHome raising $104 Mn in a Series D round
Turtlemint’s B2B vertical Turtlefin acquired insurtech SaaS startup Last Decimal
The fourth week of February saw a noticeable dip in raising funds after witnessing a gradual rise in the previous three consecutive weeks.
This week, the ecosystem collectively raised $215 Mn across 17 funding deals. This is a 99% slump from the previous week where the Indian startups collectively raised $301 Mn across 19 deals. However, this week’s funding is still 36% higher than the $158 Mn raised by Indian startups between February 06 and 11, 2023.
Key Highlights From This Week’s Funding:
- D2C meat startup FreshToHome bagged $104 Mn in Series D round from Amazon Sambhav Venture Fund, among others, making it the biggest fundraise of the week. In June last year, Inc42 was the first to report about FreshToHome’s plans of raising Series D funding round.
- We saw an edtech startup bagging a hefty funding amount this week after a long gap. We are talking about upskilling startup NxtWave raising $33 Mn from Greater Pacific Capital, Orios Venture Partners, making it the second biggest funding deal of the week.
- Fintech startup Mintoak with its $20 Mn Series A funding led by PayPal Ventures became the third biggest fundraiser of the week.
- Further, the ecommerce sector accounted for 49% share in funding this week. The sector brought $105.5 Mn across four deals.
- The enterprisetech sector witnessed the highest deal count with six investments totalling to $18 Mn.
Startup Funding Deals Of The Week
From Startup Acquisition Desk
- Advertising company Zoo Media acquired marketing startup The Starter Labs for an undisclosed amount.
- Tata 1mg-backed 5C Network acquired India and US-based healthtech startup Krayen for an undisclosed amount.
- Turtlemint’s Turtlefin acquired insurtech SaaS startup Last Decimal.
- Global ethnic wear brand Shobitam acquired Indian fashion house brand- House of Blouse.
- Supply chain solutions startup LEAP India announced its acquisition of Mumbai-based asset renting firm SKAN Marine.
Other Key Developments
- Peyush Bansal-led Lenskart is in talks to raise another $100 Mn from ChrysCapital. It has already raised more than $200 Mn last year.
- The Uttar Pradesh government in its State Budget of 2023-24 has earmarked INR 100 Cr to support selected startups with seed funding.
- Airtel Payments Bank and Paytm Payments Bank reportedly might go for a merger. Sunil Mittal-led Bharti Enterprises is also eyeing to acquire Paytm shares from other shareholders.
- Auto marketplace CarTrade Tech has announced the launch of CarTrade Ventures which will deploy INR 750 Cr over the next 5-7 years to strengthen its position in the auto-tech industry.
- Online dating giant Tinder’s parent – Match Group is reportedly in advanced talks to acquire strategic stake in Anupam Mittal-led Shaadi.com.
- Small Industries Development Bank of India (SIDBI) forayed into the venture debt space and made four debt investments in this segment.
- Walmart-backed Flipkart is reportedly acquhiring online pharmacy startup Pharmallama.
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