Funding Galore: Indian Startup Funding Of The Week [December 28- January 2]

We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!

In the final week leading up to new year, Indian startups have raised about $34 Mn across 13 deals. Overall, Indian startups have raised about $11.5 Bn across 924 deals with fintech rising as the top sector.

This week, Aye Finance raised about $10 Mn in debt from Catalyst Trusteeship Limited through its AAV Sarl and Masala Investment Sarl. According to the ministry of corporate affairs filings assessed by Inc42, Aye Finance has allocated 3,85,875 debenture each worth INR 38.58 Cr to AAV Sarl and Masala Investment Sarl, leading up to INR 17.17 Cr.

Aye Finance was founded by Sanjay Sharma and Vikram Jetley in 2014. It caters to unbanked micro-enterprises of India by offering B2B loans. The company is currently offering its services in 14 states and plans to expand into Bihar, Jharkhand, Gujarat and Maharashtra in the coming years. The company has over 173 branches and 2,900 employees.

Note: This funding report is based on startups that disclosed funding amounts

Top Indian Startup Funding Deals Of The Week

1. Aye Finance: $10 Mn in debt from Catalyst Trusteeship Limited through its AAV Sarl and Masala Investment Sarl
2. RapiPay: $9 Mn in Series A round from Dabur, Dalmia Bharat Group’s Puneet Dalmia, ORG Investments, ACME Havells promoter Sheela Foam, noted surgeon Naresh Trehan.
3. LetsTransport: $7.5 Mn in Series B from Bertelsmann Nederland BV, Mitsui Sumitomo Insurance Venture Capital, Mitsui Sumitomo, Rebright Partners, ALES Global Investment Partnership and others
4. Gramophone: $3.4 Mn from Siana Capital
5. Vauld: $2 Mn from Pantera Capital, Coinbase Ventures, CMT Digital, Gumi Cryptos Capital, LuneX Ventures, Compound Finance’s Robert Leshner, Robot Ventures, Cointshares, Better Capital, New Form Capital, Jesus Rodrigues and others
6. Pariksha: $1.3 Mn in Series A from Bharat Inclusive Technology Fund, LetsVenture
7. qZense: $622K in seed round from Venture Catalysts, Mastermind Capital’s Manish Modi, Curae Health’s Vedant Loyalka
8. NCOME: $362K from Venture Catalysts, 9Unicorns, PointOne Capital
9. Aqgromalin: $273K from Middle East-based angel investor
10. Krayonnz: $136K from GSF Accelerator
11. Metvy: Undisclosed amount from HostelFund
12. PadCare Labs: Undisclosed amount from Venture Center
13. Oneiric Gaming: Undisclosed amount from TAC Security’s Trishneet Arora
    

    Other Developments Of The Week

• Digital gold-based lending startup Rupeek is reportedly looking to raise $45 Mn in a round led by billionaire investor Yuri Milner’s Gemini Investments fund at a valuation of $550 Mn – $600 Mn. The company’s existing investor DST Global also participated in the round.