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SUMMARY
The Indian startup ecosystem raised around $558 Mn across 26 deals between November 28 and December 3, 2022
The week saw coworking space startup Table Space raising $300 Mn in a funding round from Hill House Capital
Kunal Shah’s CRED announced that it would be acquiring lending-as-a-platform startup CreditVidya in a cash and stock deal
The Indian startup ecosystem ended the month of November on a high. Between November 28 and December 3, 2022, Indian startups collectively raised $558 Mn across 26 deals. This was a 127% jump from $245 Mn raised by the startup ecosystem in 21 deals during the last week of November 21-26. Compared to $344 Mn raised across 28 deals during November 14-19 week, funding rose 62% this week.
After a long time, the startup ecosystem saw a mega deal this week. Coworking space startup Table Space raised $300 Mn in a round led by Hill House Capital. Lendingtech startup KreditBee was at the second position in terms of funding raised. The fintech startup raised $80 Mn in its ongoing Series D round from Premji Invest, Motilal Oswal Alternates, among others. Agritech startup DeHaat, after laying off employees recently, raised $60 Mn in its Series E round led by Sofina Ventures and Temasek.
Kunal Shah was the busiest investor this week, participating in three funding deals.
Funding Deals Of The Week
From Startup Acquisitions Desk
- Edtech startup Simplilearn has acquired US-based bootcamp edtech startup Fullstack Academy in an all-cash deal.
- Sanjay Ghodawat Group’s FMCG arm Ghodawat Consumer Ltd has acquired beverage startup Coolberg for an undisclosed amount.
- Pharmaceutical company Mankind has acquired a controlling stake in D2C health and wellness brand Upakarma Ayurveda.
- Kunal Shah’s CRED will be acquiring lending tech startup CreditVidya in a mix of cash and stock deal.
- Listed online travel aggregator EaseMyTrip will be acquiring a 75% stake in Gujarat-based aviation asset financing and leasing company Nutana Aviation Capital IFSC Private Limited.
Other Developments Of The Week
- Venture capital firm Accel’s accelerator programme Atoms, which invests a non-dilutive capital of $250K, has launched its second cohort which features 10 Indian startups.
- Aditya Birla Group’s house of brands business TMRW is said to have invested in eight digital-first lifestyle brands.
- Meta, the parent company of Facebook, is launching a $1 Mn fund to launch a fellowship programme to support 100 Indian developers.
- Anicut Capital has received SEBI’s approval for its INR 1,500 Cr third debt fund, named Grand Anicut Fund 4.
- Inc42 this week exclusively reported that ShareChat has expanded its ESOP pool size to INR 2,375 Cr (about $292 Mn).
- Urban Company has granted stock options worth INR 5.2 Cr to around 500 partners across India under the Partner Stock Option Plan (PSOP).
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