This week has been bustling for the Indian startup ecosystem, with a remarkable $490.32 million raised across 31 startups. This surge in funding highlights a dynamic week for both growth-stage and early-stage companies. Let’s dive into the key details and trends from this week’s funding, acquisitions, and significant industry shifts.
Funding Overview: Indian Startups This Week
In a remarkable turn of events, Indian startups have attracted $490.32 million in funding this week. Here’s a breakdown:
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Growth-Stage Deals: 7 startups raised a substantial $443.8 million. Leading the charge was Zepto, a quick commerce brand that secured $340 million in a Series F round. Other notable raises include:
- Blue Tokai Coffee: $35 million
- Yubi: $30 million
- AGRIM: $17.3 million
- Servify: $10 million
- Pilgrim: $9 million
- Miko: $2.5 million
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Undisclosed Funding: Swiggy received undisclosed funding from Amitabh Bachchan’s Family Office, reflecting continued investor confidence in the company.
Early-Stage Funding Highlights
A total of 19 early-stage startups secured $46.52 million this week. Some standout deals include:
- HouseEazy: A full-stack marketplace for resale homes
- Convin: A conversation intelligence platform
- Clean Electric: Specialising in energy storage solutions
- Finarkein Analytics: A fintech firm
- Kreedo: An edtech startup
Additionally, four startups, including Metaman, Better Nutrition (Greenday), BiUP Technologies, and OneMoney, chose not to disclose their funding amounts.
City-Wise and Segment-Wise Funding Distribution
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City-Wise Deals:
- Bengaluru: 8 deals
- Mumbai: Followed by Mumbai
- Delhi-NCR
- Pune
- Hyderabad
- Chennai
- Dehradun
- Jodhpur
- Lucknow
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Segment-Wise Deals:
- E-commerce and Fintech startups led with 6 deals each.
- SaaS, Edtech, Foodtech, Healthtech, Proptech, and Agritech followed.
Series-Wise Funding Trends
- Seed Funding: 11 deals
- Series A: 6 deals
- Pre-Series A: 4 deals
- Series C: 3 deals
- Series B: 2 deals
- Pre-Seed: 2 deals
- Series F: 1 deal
This week saw a remarkable increase of 239.42% in funding compared to the previous week’s $144.46 million. The average funding over the last eight weeks stands at around $254.80 million with 26 deals per week.
New Fund Launches
- Velocity: Launched a Rs 400 crore fund targeting D2C and e-commerce brands, especially useful for the upcoming festive season.
- Whiteboard Capital: Closed its second fund at Rs 300 crore, focusing on early-stage ventures across various sectors.
Key Hirings
Several noteworthy appointments were made this week:
- Sumer Juneja: Joined OYO as a non-executive director.
- Amitesh Jha: Appointed CEO of Swiggy Instamart.
- Dinesh Lodha: New Group CEO at Medikabazaar.
- Dr. Vipul Rastogi: Clinical Regional Head at Sukoon Health.
- Raj Ahuja: Hired as CEO by 3i Infotech.
- Saurabh Kumar: Appointed Independent Director at Evera.
- Abhiishekk Rakj Pandey: Co-founder and CEO at Zalon.
Mergers and Acquisitions
Several significant acquisitions occurred this week:
- VerSe Innovation: Acquired Valueleaf Group, a digital marketing firm.
- Browserstack: Acquired Bird Eats Bug for $20 million.
- ANSR: Acquired hrEntries, enhancing its global team management capabilities.
- Yudiz Solutions: Acquired a majority stake in ABCM App Private Limited.
- GRM Overseas: Acquired a 44% stake in Rage Coffee.
Shutdowns in the Industry
Two notable shutdowns this week:
- My Tirth India: A spiritual tech startup closed due to funding issues, despite the sector’s growing interest.
- Bharti Airtel: Discontinued its music streaming app, Wynk Music, though it will retain the team.
Conclusion
This week’s activities reflect a vibrant and rapidly evolving Indian startup ecosystem. With substantial funding flowing into both growth-stage and early-stage startups, and new funds being launched, the landscape is set for continued innovation and expansion. Keep an eye on these developments as they could shape the future of the industry.
For more details on funding trends and startup news, visit TheKredible.
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