Following a decrease in funding last week, Indian startups have regained the funding momentum. Between October 23 and October 28, Indian startups collectively raised $466 Mn in funding across 13 deals, a 96% upswing from $237 Mn raised by startups across 20 deals last week.
Funding Galore: Indian Startup Funding Of The Week [Oct 23 – Oct 28]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
26 Oct 2023
Ola Electric
Cleantech
Electric Vehicle
B2C
$384 Mn
–
Temasek, SBI
25 Oct 2023
PMI Electro Mobility Solutions
Cleantech
Electric Vehicle
B2B
$29 Mn
–
Piramal Alternatives
25 Oct 2023
The Indian Garage Co
Ecommerce
D2C
B2C
$18.6 Mn
–
TMRW
25 Oct 2023
Inc.5 Shoes
Ecommerce
D2C
B2C
$10 Mn
Series A
Carpediem Capital, Param Capital, P3 Venture Fund
Carpediem Capital
25 Oct 2023
Blubirch
Enterprisetech
Horizontal SaaS
B2B
$6.4 Mn
Series A
Cornerstone Ventures, Capital2B
Cornerstone Ventures, Capital2B
26 Oct 2023
Escrowpay
Fintech
Payments
B2B
$4 Mn
Series A
–
–
23 Oct 2023
Giga ML
Enterprisetech
Horizontal SaaS
B2B
$3.6 Mn
Seed
Nexus Venture Partners, Y Combinator, Liquid 2 Venture, 8vdx, Garry Tan
Nexus Venture Partners
25 Oct 2023
Garuda Aerospace
Deeptech
Dronetech
B2B
$3 Mn
Bridge
Venture Catalysts, WeFounderCircle, Hems Angels, San Angels, Peaceful Progress Funds
Venture Catalysts
26 Oct 2023
Manastu
Deeptech
Spacetech
B2B
$3 Mn
Pre-Series A
IAN, KRS Jamwal, Jaideep Mehta, Sanjiv Bajaj, Nitin Zamre
IAN
25 Oct 2023
Proost Beer
Alcohol Beverage
–
B2C
$3 Mn
Pre-Series A
Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, AngelList India, Agiliti Venture
26 Oct 2023
Urban Matrix
Deeptech
Dronetech
B2B
$721K
Pre-Series A
IPV
25 Oct 2023
Rapid
Enterprisetech
Horizontal SaaS
B2B
$265K
Seed
Aswin Choudhury, Deepak Panda, Ashok Padhy, Hemanth Kavuluru
26 Oct 2023
Qdesq
Real Estate Tech
Shared Spaces
B2B
–
–
Gruhas
Key Startup Funding Highlights Of The Week
EV unicorn Ola Electric raised $384 Mn Mn in a funding round from Temasek and SBI, making it the biggest funding deal of the week.
Fuelled by Ola Electric’s funding, the cleantech sector emerged as the most funded sector this week, raising $413 Mn across two deals.
The enterprisetech and deeptech sector witnessed the most deal counts with three deals each. While enterprisetech baggage $10.2 Mn, deeptech sector raised $6.7 Mn.
Seed funding activity saw a significant decline this week, falling to $3.8 Mn across two deals from $5.2 Mn raised last week.
Other Major Developments From This Week
SaaS logistics platform Shipsy acquired inventory management platform Stockone for an undisclosed amount.
EV battery startup Log9 Materials announced an ESOP buyback plan worth INR 1.5 Cr for its employees.
Rahul Gupta, and Siba Panda jointly launched their sector agnostic venture debt fund – ValuAble, with a corpus of INR 850 Cr or $100 Mn
InCred Asset Management, the asset management arm of InCred, closed its maiden credit fund, InCred Credit Opportunities Fund-I, at INR 660 Cr.
Peak XV Partners have launched the ninth cohort of its startup accelerator programme – Surge, featuring 7 Indian startups. Click here to know more
The post From Ola Electric To PMI Electro Mobility — Indian Startups Raised $466 Mn This Week appeared first on Inc42 Media.
