[Funding Galore] From Innoviti To AntWalk — $116 Mn Raised By Indian Startups This Week

The month of July has started on a bitter note for the Indian startup ecosystem. In the first week of July, between July 4 and 9, the startup ecosystem has managed to raise $116 Mn funding across 24 deals. This is a 60% drop from the last week, where Indian startups raised $292 Mn  across 21 deals.

This week did not see any mega deals, no funding round of or above $100 Mn and neither the week minted any new unicorn.

Most active investors of this week were MaGEHold and 9Unicorns as they participated in three deals each. 

The Indian Startup Funding Deals Of The Week

From The Startup Acquisition Desk

• Fintech startup M2P has acquired Bengaluru-based cloud lending startup Finflux to accelerate adoption of digitisation and workflow automation and offer new lending products
• Fintech SaaS startup Clear has acquired CimplyFive in an all-cash deal for an undisclosed amount
• Logistics startup Emiza has acquired online shipping platform Shippgo for an undisclosed amount 

Startup Funds This Week

• Seed stage VC firm Axilor Ventures has launched its second – Axilor Technology Fund II, with a total corpus of INR 770 Cr. The VC firm will focus on sectors such as SaaS, agritech, consumer tech, healthtech, and B2B commerce
• Gujarat Venture Finance Limited has announced first close at INR 185 Cr for its ninth fund. The fund has a total corpus of INR 500 Cr.

Other Developments From The Indian Startup Ecosystem

• Gurugram-based GoMechanic has announced INR 30 Cr worth of stock options for its service partners, workshops, retailers, distributors, and consultants across India
• Edtech giant Unacademy has expanded its ESOP pool size to $393 Mn
• London-based crypto lender Nexo is said to have signed term sheets to acquire troubled crypto platform Vauld 
• Yatra Angel Network has received SEBI’s nod to launch its INR 90 Cr early-stage fintech focused fund
• Edtech giant BYJU’S valuation grew by 35% to $23 Bn in nine months