A week after funding activity took a dive, both in terms of value and volume, Indian startup ecosystem managed to rebound this week with a $61 Mn fundraise across ten deals. This week’s funding is 38% mark up from the previous week, where startups collectively raised $44 Mn across 10 deals.
Funding Galore: Indian Startup Funding Of The Week [Nov 20 – Nov 25]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
21 Nov 2023
Scapia
Fintech
Lendingtech
B2C
$23 Mn
Series A
Elevation Capital, 3STATE Ventures, Matrix Partners India, Tanglin Venture Partners
Elevation Capital, 3STATE Ventures
21 Nov 2023
Kiwi
Fintech
Lendingtech
B2C
$13 Mn
Series A
Omidyar Network India, Nexus Venture Partners, Stellaris Venture Partners
Omidyar Network India
21 Nov 2023
Baaz Bikes
Cleantech
Electric Vehicle
B2B
$8 Mn
Series A
BIG Capital, Rakuten Capital, Kalaari Capital, 9Unicorns, Sumant Sinha
BIG Capital
20 Nov 2023
Purple Style Labs
Ecommerce
D2C
B2C
$8 Mn
Series D
Sanket Parekh’s Family Office, Signet (Harish Shah Family Office), Hira Group Family Office, Singularity Growth Opportunities Fund I, Neelesh Bhatnagar (NB Ventures), Masaba Gupta, Rahul Garg (former Partner at Premji Invest), Atul Gupta (former Partner at Premji Invest)
Sanket Parekh’s Family Office
23 Nov 2023
Zappfresh
Ecommerce
D2C
B2C
$4.3 Mn
–
Ah!Ventures, HT Media, Unity SFB, Unity SFB, Heifer Impact
23 Nov 2023
Herby Angel
Ecommerce
D2C
B2C
$2.5 Mn
–
JCBL Group
JCBL Group
21 Nov 2023
VAMA
Consumer Services
Hyperlocal Services
B2C
$1.5 Mn
Seed
Wavemaker Patrtners, Summit Media’s Lisa Gokongwei-Cheng, Tata Play’s Harit Nagpal, Blume Founders Fund, Alluvium and Untitled VC, Burak Buyukdemir, Dhruv Bahl
Wavemaker Partners
22 Nov 2023
Jodaro
Ecommerce
B2B Ecommerce
B2B
$750K
Seed
Fundamental VC, Maninder Gulati
Fundamental VC
24 Nov 2023
Tagda Raho
Healthtech
Fitness & Wellness
B2C
–
–
MS Dhoni
23 Nov 2023
Conscious Chemist
Ecommerce
D2C
B2C
–
–
IPV
IPV
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Fintech startup Scapia raised $23 Mn funding from Elevation Capital and Binny Bansal’s 3STATE Ventures, making it the biggest funding deal of the week.
Fuelled by Scapia’s and Kiwi’s funding, the fintech sector emerged as the most funded sector this week, raising $36 Mn across two deals.
The ecommerce sector saw the highest deal count with five deals sealing $15.5 Mn.
Seed funding nosedived with a mere $2.2 Mn across two deals.
Startup Acquisitions This Week
B2B vendor management startup Bizongo acquired Noida-based FactoryPlus, a factory digitisation application for micro, small and medium enterprises (MSMEs), to offer digitisation solutions to MSMEs.
Fintech startup Wint Wealth Group acquired a majority stake in an NBFC – Ambium Finserve for an undisclosed amount.
US-based giant Adobe acquired Bengaluru’s AI-powered video creation platform Rephrase.ai.
Other Major Developments From This Week
SaaS startup Unicommerce, which is owned by AceVector Limited, the parent company of Snapdeal, has joined the list of Indian startups heading for a public listing next year.
Sorin Investments, a startup fund led by Sanjay Nayar, will receive investment worth INR 300 Cr from the Small Industries Development Bank of India (SIDBI) and the National Small Industries Corporation Limited (NSIC).
Insurance aggregator Policybazaar is raising INR 350 Cr from its parent company PB Fintech Ltd.
The post From Scapia To Kiwi — Indian Startups Raised $61 Mn This Week appeared first on Inc42 Media.
