[Funding Galore] From Table Space To DeHaat—$558 Mn Raised By Startups This Week

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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