Indian Startup Funding — Startups Raised 6 Mn This Week

SUMMARY

Indian startups cumulatively raised $185.8 Mn across 21 deals, a 49% increase from $125 Mn secured via 18 deals in the preceding week

Lightspeed, Peak XV and Elevation Capital backed multiple startups this week

Enterprise tech sector saw the highest number of seven deals materialise this week via which startups raised $46.7 Mn in the week

Amid rumblings in the broader public markets in India, the startup ecosystem saw an increased investor interest. Between November 11 and 16, startups raised $185.8 Mn across 21 deals. This marks a 49% increase from the $125 Mn raised by startups across 18 deals in the preceding week. 

Despite a bearish sentiment in the broader market, foodtech major Swiggy transitioned to become a publicly listed company this week. Besides, the coming week will also see logistics unicorn BlackBuck making its public market debut. 

Funding Galore: Indian Startup Funding Of The Past Two Weeks [ Nov 11 – Nov 16 ]

DateNameSectorSubsectorBusiness ModelFunding Round SizeFunding Round TypeInvestorsLead Investor
14 Nov 2024SarvaGramFintechLending TechB2B-B2C$67 MnSeries DPeak XV Partners, Temasek, Elevar Equity, TVS Capital, Elevation CapitalPeak XV Partners
9 Nov 2024UnifyApps*EnterprisetechHorizontal SaaSB2B$20 MnSeries AICONIQ Growth, Elevation CapitalICONIQ Growth
11 Nov 2024BhanzuEdtechK-12B2C$16.5 MnSeries BEpiq Capital, Z3Partners, Lightspeed Ventures, Eight RoadsEpiq Capital
12 Nov 2024WheelocityAgritechMarket LinkageB2B-B2C$15 MnSeries ALightspeed, Alteria Capital, Anicut Capital, Selvam VMSLightspeed
14 Nov 2024The ePlane CompanyCleantechElectric VehiclesB2B$14 MnSeries BSpeciale Invest, Antares Ventures, Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Investment Advisor, Redstart, AnicutSpeciale Invest, Antares Ventures
11 Nov 2024EqualEnterprisetechHorizontal SaaSB2B$10 MnSeries AProsus Ventures, Tomales Bay Capital, Keshav Reddy, Blume Ventures, DST Global, Gruhas, Quona VC, Binny Bansal, Harsh Jain, Kunal Shah, Karan AdaniProsus Ventures, Tomales Bay Capital, Keshav Reddy
15 Nov 2024VecmoconCleantechElectric VehiclesB2B$10 MnSeries AEcosystem Integrity Fund, British International Investment, Blume VenturesEcosystem Integrity Fund
13 Nov 2024EnnoventureEnterprisetechHorizontal SaaSB2B$8.9 MnSeries ATanglin Venture Partners, Fenice Investment GroupTanglin Venture Partners
12 Nov 2024UgaooEcommerceD2CB2C$5.6 MnSeries AV3 Ventures, DSG Consumer Partners, RPG VenturesV3 Ventures
12 Nov 2024Funstop GamesMedia & EntertainmentGamingB2C$5 MnSeries A360 ONE Asset, InfoEdge Ventures360 ONE Asset
13 Nov 2024BitespeedEnterprisetechVertical SaaSB2B$3.5 Mnpre-Series APeak XV Partner, Whiteboard Capital, Gaurav Munjal, Aakash Anand, Dhruv VohraPeak XV Partner
14 Nov 2024Athina AIEnterprisetechHorizontal SaaSB2B$3 MnSeedDenis Yarats, Alex Ratner, Kleiner Perkins Scout Fund, Y Combinator
14 Nov 2024AirboundDeeptechDronetechB2B$1.7 MnSeedLightspeed, gradCapitalLightspeed
12 Nov 2024India IVFHealthtechHealthcare ServicesB2C$1.3 Mnpre-Series ATomorrow CapitalTomorrow Capital
13 Nov 2024PikndelLogisticsEcommerce LogisticsB2B$1 MnSeedVC Grid, D2C Insider Angels, Breathe Capital, Venture Catalysts, Akash Gupta, Keshav Bhajanka, Sanjay Agarwal, Kanishka SethiaVC Grid
12 Nov 2024DesignXEnterprisetechEnterprise ServicesB2B$1 Mnpre-Series APiper SericaPiper Serica
12 Nov 2024StampMyVisaTravel TechOTAB2B$782Kpre-Series AUnicorn India VenturesUnicorn India Ventures
14 Nov 2024LegalKartConsumer ServicesHyperlocal ServicesB2C$770KIIM Udaipur Incubation Centre, Aevitas Capital, Shift Alt CapIIM Udaipur Incubation Centre
12 Nov 2024Creanovation Technologies Private LimitedEdtechEdtech SaaSB2B$592KPhysis CapitalPhysis Capital
14 Nov 2024Mushin Innovative LabsEnterprisetechEnterprise ServicesB2B$250KSeedInflection Point VenturesInflection Point Ventures
14 Nov 2024OneplayMedia & EntertainmentGamingB2CAkshat RatheeAkshat Rathee
Source: Inc42
*Included this week as it was skipped last week
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Despite a windfall of funding at early stages, the Indian startup ecosystem saw one deal materialise at the late stage level. Fintech startup SarvaGram raised the biggest cheque this week, bagging $67 Mn in its Series D round.
  • While SarvaGram’s fundraise solely took fintech to the top of funding trends at a sectoral level, enterprisetech saw the most number of deals materialise this week. Startups in the sector raised $46.7 Mn across seven deals in the week.
  • The most active investor this week was Lightspeed, backing edtech Bhanzu, agritech Wheelocity and deeptech Airbound this week. Peak XV and Elevation Capital also backed two startups apiece.
  • Seed funding remained flat in the week, rising 10% to $5.9 Mn from last week’s $5.4 Mn.

From SarvaGram To Equal- Indian Startups raised $186 Mn This Week

Fund Funds Launches Of The Week

  • Venture capital (VC) firm Pavestone VC marked the final close of its Pavestone Technology Fund at $97 Mn. It is looking to back 8-10 growth stage startups with an average ticket size of $5-10 Mn.
  • Sandiip Bhammer-led VC firm Green Frontier Capital launched its Green Frontier Capital India Climate Opportunities Fund with a target corpus of INR 1,500 Cr.
  • Orios Venture Partners’ managing partners Anup Jain and Rajeev Suri launched VC firm BlueGreen Ventures with a $75 Mn fund. The firm will back early-stage and IPO bound startups.  

Mergers & Acquisitions Of The Week

  • Proptech startup bought 11% stake of Mumbai-based real estate advisory Guardians for $12 Mn. It intends to increase its stakeholding to 50% in the coming three years.
  • Unicommerce acquired 42.7% stake in Shipway for INR 68.4 Cr and plans on acquiring the remaining stake in Shipway within a year via a merger or stock swap.
  • Coimbatore based SaaS startup Kovai.co announced the acquisition of US based Floik to enhance its Document360 knowledge management platform.
  • Online travel aggregator EaseMyTrip’s board approved the acquisition of 49% stake in Planet Education Australia for INR 39.20 Cr and a 50% stake in Jeewani Hospitality Private Limited for INR 100 Cr.

Updates On Indian Startup IPOs

  • Swiggy made its public market debut on Tuesday ((November 13), with its shares listing at INR 420 on the NSE, a premium of nearly 8% from its IPO issue price of INR 390 per share.
  • Shortly after its portfolio company Swiggy made a positive market debut, its largest stakeholder Prosus said that it is exploring an IPO for PayU in India in 2025.
  • Amid the ongoing IPO boom, B2B marketplace Zetworks is looking to get listed by 2025 in an IPO that will see it raise over $1 Bn.
  • D2C electronics major bOAt has reportedly finalised ICICI Securities, Goldman Sachs and Nomura as bankers for its $300-$500 Mn IPO slated for next year.
  • Ahead of market close on Friday, BlackBuck’s IPO saw a muted subscription of 32% for its IPO. The issue will close on November 18.

Other Developments Of The Weeks

  • Reliance Consumer Product is acquiring D2C snacking startup TagZ Foods for INR 28 Cr ($3.5 Mn).
  • Fintech unicorn Razorpay joined forces with Peak XV Partners and Lightspeed to launch a venture investment programme. With this, the trio will be looking to back early stage B2B startups across sectors.
  • Sanjeev Bhikchandani-led Info Edge will be investing INR 4 Cr in its portfolio company LegitQuest via its wholly owned subsidiary Startup Investments (Holdings) Ltd.
  • Nazara Technologies and Nikhil Kamath’s WTFund will jointly invest INR 2 Cr in two gaming startups, Norian Games and Xigma Games.
  • Zomato plans to launch its INR 8,500 Cr qualified institutional placement (QIP) in December, depending on market conditions.

By Inc42 Media

Source: Inc42 Media