[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week

[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week

SUMMARY

The Indian startup ecosystem raised around $173 Mn across 17 deals between December 12 and 17, 2022

The week saw Bumble Bee Flight and Virgio raising $37 Mn in their first institutional rounds

Indian cricketer Shikhar Dhawan has launched $75 Mn fund to back sportstech startups

The second week of December was no different than the previous weeks when it comes to raising funds. Hence, further continuing the downward trend of capital infusion, between December 12 and 17, fundraising further dropped to $173 Mn across 17 deals. This is an almost 39% dip from last week when the startup ecosystem raised $285 Mn across 19 deals. This is also 69% lower than $558 Mn raised across 26 deals between November 28 and December 3, 2022 by the Indian startups. 

The week’s biggest cheque was raised by Bengaluru-based air mobility solutions provider Bumble Bee Flights and fashion startup Virgio. Both the startups have raised $37 Mn in their first institutional rounds. While Bumblee Bee Flights raised the capital from UK-based technology conglomerate SRAM & MRAM Technologies and Resources Limited, Virgio received the investment from Prosus Ventures, Accel and Alpha Wave.

NeoGrowth, a RBI-registered NBFC came third in raising the biggest investment deal this week with $36.2 Mn (INR 300 Cr) in equity from the Dutch entrepreneurial development bank FMO and existing investors. 

Funding Deals Of The Week

Startup Funds This Week

  • Indian cricketer Shikhar Dhawan has launched a fund to invest in sportstech startups with an initial corpus of $75 Mn and a greenshoe option of $25 Mn
  • Early-stage investor network FAAD received Indian market regulator SEBI’s nod to launch a Category 1 Alternative Investment Fund (AIF) of INR 300 Cr.
  • Venture capital firm Java Capital has launched the first alternative investment fund (AIF) with a corpus of INR 75 Cr ($9 Mn). The fund will also have a green shoe option of INR 25 Cr. The fund will have an average ticket size of INR 2 Cr and will invest in 15-20 pre-seed, seed across deeptech, SaaS, enterprisetech, fintech startups
  • Silicon Valley entrepreneur Kanwal Rekhi has said he will commit INR 20 Cr to seed the Kanwal Rekhi Rural Entrepreneurship and Startup Center (KREST) in Telangana to promote and scale rural entrepreneurship programs
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week-Inc42 Media
[Funding Galore] From Virgio To Zype—$173 Mn Raised By Startups This Week-Inc42 Media
You’re in Good company