[Funding Galore] From Mensa Brands To Simple Energy — Indian Startups Raised $158 Mn This Week

After witnessing the lowest startup funding in a week since 2022, the Indian startup ecosystem got a breather this week, with a slight uptick in terms of funding. 

Between February 6, and February 10, the Indian startups collectively raised around $158 Mn across 24 deals. This is 229% higher than the previous week, when an Indian startup managed to raise a mere $48 Mn across 12 deals. This week’s funding is 58.6%  more than when the Indian startup raised $99.6 Mn across 15 deals between January 23 and 28. 

The week’s biggest cheque was raised by ecommerce rollup startup Mensa Brands. The startup managed to raise $36.2 Mn in debt from TradeCred. 

The second highest funding this week was raised by both Entropik and Zypp Electric. While emotional artificial intelligence startup  – Entropik raised $25 Mn in a Series B round led by  Bessemer Venture Partners and SIG Venture Capital, on the other hand, electric mobility startup Zypp Electric raised $25 Mn Series B round in a mix of equity and debt, led by Taiwanese battery swapping major Gogoro, to expand its geographical footprint and fleet size.

Electric two wheeler manufacturer Simple Energy raised $20 Mn in a bridge round to record the third biggest funding deal of the week. 

9Unicorns, Titan Capital, and Venture Catalysts were the busiest investors this week as they participated in three deals each. 

Startup Funding Deals Of The Week

From The Startup Acquisition Desk

• Bengaluru-based workforce management startup BetterPlace acquired Indonesia-based MyRobin for an undisclosed amount.
• Fintech startup Siply acquired myPaisaa for $7.5 Mn.
• Lendingtech startup Lendingkart acquired another lending platform Upwards for somewhere between INR 100 Cr – INR 120 Cr.
• Warner Music India signed a deal to acquire a majority stake in Chennai-based digital media and music company Divo.

Other Key Developments From The Indian Startup Ecosystem

• Unitus Ventures made the first close of its INR 300 Cr Opportunity fund at INR 75 Cr. The fund will focus on early stage startups. 
• The MEITY along Software Technology Parks of India granted INR 20 Lakh to AGAutomate Private Limited, GB Pant University of Agriculture & University, AGMitra Technologies Private Limited and Satyukt Analytics Private Limited for qualifying the second stage of Smart Farm Grant Challenge. 
• T-Hub along with AWS selected 10 startups for AWS-Intel Innovation Pod drone tech accelerator programme. The list of startups include – 10 Infinite, Akin Analytics, Daybest Research, Drogo Drones, Indrones, Oplus Innovation, Senseacre Labs, Vecros Technologies, Vyomik Drones, and Yaralava Technologies.