News

[Funding Galore] From Keka To Supertail —$131 Mn Raised By Indian Startups This Week

[Funding Galore] From Keka To Supertail —$131 Mn Raised By Indian Startups This Week
SUMMARY

The Indian startup ecosystem raised around $131 Mn across 23 deals between November 7 and Nov 12, 2022

The week saw Keka raising $57 Mn in its Series A round led by Westbridge Capital

SaaS-based Mad Street Den has acquired New York-based Inturn

Inc42 Daily Brief

Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy

Funding activities in the second week of November have fallen after seeing a moderate increase in the previous three consecutive weeks. Between November 7 and 12, the Indian startups have managed to raise $131 Mn across 23 deals.

This is a 66.7% drop compared to the last week when Indian startups collectively raised $394 Mn across 22 deals. Moreover, this is a 58% drop in funding compared to the previous week when Indian startups raised $314 Mn across 12 deals.

The week’s biggest cheque was received by Keka, an HRtech startup which managed to raise $57 Mn in its Series A round led by Westbridge Capital. Further, Inc42 exclusively reported spacetech startup Agnikul’s $20 Mn funding which was a part of its ongoing funding round from Rocketship. Vc, and others. Masai School and Supertail both have raised $10 Mn this week in their new funding rounds. 

LetsVenture was the most active investor of the week as it had participated in three deals.

Funding Deals Of The Week

Startup Funds This Week

  • Automobile marketplace CarDekho plans to invest $100 Mn in a mix of debt and equity in its fintech subsidiary Rupyy
  • Chiratae Ventures marked the first closure of its Growth Fund I at INR 759 Cr and will be investing in Series C round and beyond for 15-20 startups
  • VC firm Mehrak Ventures along with accelerator fund Huddle have announced climate-focussed accelerator programme ClimAct. Selected startups will receive upfront pre-seed capital of $200K each and a follow-on investment of up to $1.5 Mn
  • Early stage Indian venture firm pi Ventures has announced raising $8 Mn from British International Investment. The round adds to the second fund that marked the first closure at $40 Mn earlier this year
  • Quona Capital has announced the final closure of its third fund at $332 Mn. The fund will be invested in startups in India, Latin America, and Southeast Asia
  • PedalStart, a founders run community platform is launching Zero-to-One cohort with INR 25 Lakh of commitment for startup founders.

From Startup Acquisition Desk

  • SaaS startup Sirion Labs has acquired Seattle-based contract automation startup Zendoc
  • Singapore-based Believe Pte has acquired a majority stake in Ahmedabad-based Iba Cosmetics
  • D2C Ecommerce has acquired Luxura Sciences to further strengthen its product portfolio
  • Fintech startup ZikZuk Technologies acquired SPANACROSS IT Solutions (TaxSpanner.com) 
  • SaaS-based startup Mad Street Den acquired New York-based Inturn, which has raised $70 Mn in total.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

Inc42 Daily Brief

Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy

Recommended Stories for You