Weekly Funding Report For February Fourth Week

Mar 3, 2023

During the past week, Indian startups raised a total of approximately $215 million in funding, with FreshToHome and NxtWave securing the highest amounts of $104 million and $33 million, respectively. The previous week, Indian startups raised a larger $313 million in funding.

Growth/late-stage transactions

The sole growth or late-stage startup to disclose its latest funding round this week was FreshToHome, which raised $104 million in a Series D round.

Sl no.	Start-up Name	Segment	Amount raised in $Million
	FreshToHome	Technology, Information, and Internet	104

Early-stage transactions

This week, 13 startups in the early-stage secured funding, with NxtWave leading the pack with a Series A round of $33 million. Other startups on the list include Mintoak, Kratos Studios, Intangles, and Scrut Automation.

Sl no.	Start-up Name	Segment	Amount raised in $Million
	NxtWave	Education Administration Programs	33
2.	Mintoak	Financial Services	20
3.	Kratos Studios	Computer Games	19.3
4.	Intangles	Technology, Information, and Internet	10
5.	Scrut Automation	Software Development	7.5

Deals by city and segment

Bengaluru-based startups were the frontrunners in terms of funding this week, with data from Fintrackr indicating that 7 startups from this location raised a total of $141.4 million. Meanwhile, Mumbai-based startups raised $21.8 million across four deals during the same period.

Acquisitions

In addition to fundraising, four mergers and acquisitions took place this week. These included Turtlefin's acquisition of logistics startup Last Decimal, LEAP's acquisition of SKAN Marine, 5C Network's acquisition of Krayen, and Zoo Media's acquisition of The Starter Labs.

Layoffs

Although there has been a recent decrease in layoffs among startups, a few companies, such as Polygon and MyGate, have let go of a significant portion of their workforce, with Polygon firing 20% and MyGate firing 30% of their employees.