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SUMMARY
Around $178 Mn has been raised across 18 deals between March 6 and March 11
Fintech startup Mintifi raised $110 Mn in a Series D round
Content-to-commerce unicorn Good Glamm Group increased its stake to 90% in The Moms Co.
The second week of March fared better in raising capital after witnessing a record 96 week lows of funding between February 27 and March 4. Between March 6 and March 11, the startup ecosystem raised $178 Mn across 18 deals.
This is a 450% jump in the total amount amassed by the Indian startups when compared to $32.3 Mn being raised last week across 16 deals. This week’s funding is, however, 17% lower than $215 Mn raised by Indian startups between February 20 and 25 across 17 deals.
Key Highlights From This Week’s Funding
- B2B digital lending startup Mintifi raised $110 Mn (INR 902 Cr) – the largest round this week – as part of a Series D funding round led by Premji Invest
- B2B industrial ecommerce platform Zetwerk raised $12 Mn in debt from Edelweiss Group amidst the funding winter
- Ahead of IPL, fantasy cricket startup Fantasy Akhada’s parent Super Six Sports Gaming (SSSG) has raised $11 Mn in a funding round led by Florintree Advisors
- Enterprisetech sector bagged the highest number of funding deals this week with six startups collectively raising more than $21.6 Mn
- Fintech sector raised the highest funding amount at $123 Mn across three deals, which is 69% of the total funding being raised this week
- This week, the busiest investor was ah! Ventures as it doled out two cheques to D2C startup – MITRA and edtech startup – DApp World.
Startup Funding Deals Of The Week
Other Key Developments
- Fintech unicorn slice acquired a 5% stake in Guwahati-based North East Small Finance Bank for $3.42 Mn (INR 28 Cr)
- Content-to-commerce unicorn The Good Glamm Group had further increased its stake from 75% to 90% in The Moms Co., a D2C mother-and-baby care products brand
- We reported that BYJU’S owned Aakash is planning to raise $250 Mn in convertible notes ahead of its planned IPO
- The Abu Dhabi Investment Authority (ADIA) is in talks to acquire a stake worth $500 Mn in Peyush Bansal-led Lenskart.
- The cofounder of Flipkart – Binny Bansal is in talks to invest around $100-150 Mn in fintech giant PhonePe as part of its ongoing funding round.
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