[Funding Galore] From Zopper To Kuku FM — $192 Mn Raised By Indian Startups This Week

In the fourth week of September, Indian startups have managed to raise $192 Mn across 27 deals. This is a 7.6% drop from $208 Mn that the startup ecosystem raised in the previous week across 28 deals. This week, Noida-based insurtech startup Zopper raised the biggest funding round worth $75 Mn in its Series C round from ICICI Venture, Bessemer Venture Partners, and Creaegis. 

Venture Catalysts was the most active investor of this week as it invested in three deals this week. 

The Indian Startup Funding Deals Of The Week

Updates On Indian Startups IPO

SEBI Puts Virat Kohli-Backed Digit Insurance IPO On Abeyance

Within a month of filing its Draft Red Herring Prospectus (DRHP), Indian market regulator SEBI has put its IPO offering in abeyance. The market regulator hasn’t cited any reason behind this decision, nor has the company responded to our queries on the same. Last month, Digit Insurance filed DRHP which included an offer to raise INR 1,250 Cr through fresh issue of shares and an OFS component of 10.94 Cr equity shares. 

Pepperfry To File DRHP Between Oct – Dec Of 2022

Online furniture marketplace Pepperfry is gearing up for filing its Draft Red Herring Prospectus (DRHP) with the market regulator SEBI by end of this year. Reportedly, the startup is mulling to file its DRHP between Oct and December of this year. It is anticipated that the company is looking to raise $300 Mn through the public market. 

Other Developments From The Indian Startup Ecosystem

• D2C startup Farmers Fresh Zone has acquired milk delivery startup AM Needs for $2 Mn in cash and stock deal
• B2B Venture capital company StartupXseed Ventures has closed its second fund worth INR 243 Cr to invest in 8-10 deeptech and SaaS-based startups
• Leo Capital has marked the first close of a third fund worth INR 125 Cr. The venture capital firm will invest in healthtech, fintech, insurtech, edtech and other sectors
• Social commerce startup CityMall has initiated an ESOP liquidity program for 50 employees worth up to $1.3 Mn
• Flipkart’s Singapore entity has pumped in INR 1,600 Cr in its Indian entity ahead of the Diwali sale.