From Vivifi To Krutrim — Indian Startups Raised $170 Mn This Week

3

Funding momentum across India’s startup ecosystem gained steam after a marginal dip. Between January 22 and 27, startups have collectively raised $170 Mn across 13 deals, which is 25% higher than $136 Mn across 21 deals raised in the previous week.

Interestingly, the week also saw Ola cofounder Bhavish Aggarwal’s third venture – Krutrim raising $50 Mn to become India’s first AI unicorn and 113th in the country’s startup list with a valuation of more than a billion dollars.

Funding Galore: Indian Startup Funding Of The Week [Jan 22 – Jan 27]

Key Startup Funding Highlights Of The Week

Hyderabad-based NBFC Vivifi India Finance Pvt Ltd secured $75 Mn, making the biggest funding round of this week.
Fuelled by Vivifi’s funding, fintech emerged as the most funded sector this week.
The fintech sector and ecommerce reported a maximum of three deals this week. While the fintech sector raised $91.6 Mn, the ecommerce sector managed to bag $17.8 Mn.
This week, seed funding rose to $9.2 Mn across five deals.

Startup Acquisitions This Week

Publicly listed gaming company Nazaar Games’ subsidiary NODWIN Gaming has acquired 100% stakes in Comic Con India for INR 55 Cr ($6 Mn) in a cash and stock deal.
MakeMyTrip acquired a majority stake in intercity cab service provider Savaari Car Rentals to expand its offerings.

Other Major Developments From This Week

IPO-bound OYO in talks to raise $400 Mn in funding from Malaysia’s sovereign fund  Khazanah Nasional Berhad at a downround of $6 Bn.
Orios Venture Partners has returned INR 300 Cr to its Fund I investors.
SaaS startup Perfios is eyeing to raise $500 Mn (INR 4,156 Cr) through initial public offering (IPO) at a $2Bn valuation. 
WeWork India launched a new programme under its WeWork Labs initiative – JumpStart that will help in facilitating fundraise.
Vijay Kedia-backed TAC Infosec Limited has filed its draft red herring prospectus (DRHP) to list on the NSE’s small and medium enterprises (SME) focussed platform NSE Emerge.
Fintechs startup Equirus rolled out an early-stage fund – Equirus InnovateX Fund to invest in tech startups. The fund intends to raise $25 Mn

The post From Vivifi To Krutrim — Indian Startups Raised $170 Mn This Week appeared first on Inc42 Media.