From InCred To Revfin— Indian Startups Raised $90 Mn This Week

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With the year coming to an end, the deal momentum seems to have finally caught a break after recording three blockbuster funding weeks. Between December 25 and 30, 2023, Indian startups collectively raised $90 Mn across 10 deals, which is a 63% drop from $349 Mn funding raised across 25 deals in the previous week.

With no mega deal this week, the ecosystem embraced its second unicorn of the year with fintech startup InCred raising $60 Mn over a billion dollar valuation.

Funding Galore: Indian Startup Funding Of The Week [Dec 25 – Dec 30]

Key Startup Funding Highlights Of The Week

Fintech startup InCred, raised $60 Mn in Series D funding round led by Ranjan Pai, making it the biggest funding deal of the week.
Fuelled by InCred’s funding, the fintech sector not only emerged as the most funded sector this week with a total funding of $74.4 Mn funding but also recorded the most number of deal counts –  three deals.
EvolveX by We Founder Circle emerged as the busiest investor as it participated in three deals each.
This week, $144 K was raised in seed funding across five deals.

Other Major Developments From This Week

Drone startup DroneAcharya Aerial Innovations acquiring 51% stakes in Pune-based PYI Technologies Pvt Ltd, a startup that offers camera drones, DIY kits and customised drones.
DMI Finance and Aditya Birla Finance are in discussions to acquire Bengaluru-based fintech startup ZestMoney.
Omnichannel marketplace FirstCry’s parent entity BrainBees Solutions Limited has filed a draft red herring prospectus (DRHP) and is looking to raise INR 1,816 Cr through fresh issues of shares.
Cash-strapped edtech startup BYJU’S is looking to raise $300 Mn from investors. 

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