[Funding Galore] From HealthKart To Uolo—$284.5 Mn Raised By Startups This Week

The last month of the year 2022, December started on a lower note when we compare the week between December 5 and 10  with the previous one–the last week of November. However, the month of November fared well in bagging relatively higher funding deals when compared to the rest of the months in 2022. Between December 5 and 10, the Indian startups collectively raised $284.5 Mn across 19 deals. This is a 49% lower than $558 Mn raised across 26 deals between November 28 and December 3, 2022 by the Indian startups. However, this is a 16% jump from $245 Mn raised by the startup ecosystem in 21 deals between November 21-26. 

The week’s biggest cheque was raised by healthtech marketplace HealthKart with its Series H round of investment. The startup raised $135 Mn led by Singaporean sovereign fund Temasek. The second biggest cheque was raised by Wakefit, when it raised equity funding worth $45 Mn from Investcorp. D2C platform RENEE Cosmetics raised the third biggest cheque with $25 Mn from Evolvence India, Equanimity, 9Unicorns. 

Kunal Shah and Omnivore were the busiest investors this week, participating in two funding deals, each.

Funding Deals Of The Week

From Startup Acquisitions Desk

• Australia-based edtech startup Moodle has acquired Hyderabad-based eAbyas for an undisclosed amount 
• Content to commerce ecommerce unicorn Good Glamm Group has acquired controlling stake in Twinkle Khanna’s content platform Tweak India in a cash and stock deal 
• Biriyani-focused cloud kitchen startup Biryani By Kilo has acquired a majority stake in desert startup Get-A-Way
• FMCG Giant Hindustan Unilever has acquired Deepika Padukone-backed D2C nutrition brand OZiva

 Other Developments Of The Week

• The Ministry of Civil Aviation (MoCA) has announced an INR 120 Cr fund allocation for companies manufacturing drones and drone components between FY23 and FY25
• Pune-based drone startup DroneAcharya Aerial Innovations’s initial public offering will open on December 15, 2022. The IPO offer includes OFS of 62.9 Lakh of shares
• Unacademy-backer Blume Ventures has announced closure of $250 Mn with a corpus of $200 Mn
• We Founder Circle (WFC) has launched two angel funds– $24 Mn angel fund ‘Invstt Trust’ and $30 Mn cross-border angel fund ‘We Founder Circle Global Angels Fund’. 
• SoftBank-backed ecommerce player SnapDeal has dropped its $152 Mn IPO plan due to the market volatility