Weekly Funding Report for September 1st Week

Oct 17, 2022

This week, 36 Indian businesses secured funding, with 31 receiving a total of almost $231 million. The biggest fundraisers were NetraDyne and 1mg, who raised $65 million and $40 million, respectively. Last week, 23 domestic entrepreneurs raised $275 million in fundraising.

Growth/late-stage transactions

Six growth-stage firms obtained additional money this week, including financial startup NetraDyne's $65 million round and health tech 1mg's $40 million internal funding round, which helped it become a unicorn.

Sr. No.	Startup Name	Segment	Amount Raised (In $Mn)	Series	Lead Investor/s	Investors Participated
1	NetraDyne	Technology	65	-----	Silicon Valley Bank (SVB)	---
2	1MG	Healthtech	40	-----	Tata Digital	MPOF Mauritius Ltd, HBM Healthcare, and KWE Beteiligung
3	Akshayakalpa Organic	D2C	15	Series B	British International Investment (BII)	Rainmatter Foundation

Early-stage transactions

30 firms have raised financing in the early stages, including five unreported rounds. GroMo, a fintech startup, topped the list with $11 million Series A financing. ZippMat, a construction supply chain, and CashFlo, a finance business, are also on the list.

Sr. No.	Startup Name	Segment	Amount Raised (In $Mn)	Series	Lead Investor/s	Investors Participated
1	GroMo	Fintech	11	Series A	SIG Venture Capital	Y-Combinator, Das Capital, Goodwater Capital, Beyond Next Ventures, Soma Capital, Ace & Company, and Hauz Khas Ventures
2	ZippMat	B2B	10	-----	Matrix Partners India	Zephyr Peacock
3	Cashflo	Fintech	8.7	-----	General Catalyst	Elevation Capital

Unannounced transactions

Heath ledger Diagnostics, D'chica, Plutos ONE, Travel Buddy, and TSAW Drones all declined to provide financial information.

Funding for cities and segments

This week, Bengaluru-based companies led both the number of startup deals and the cash raised. According to Fintrackr data, 14 Bengaluru-based firms raised $121.6 million this week, accounting for 52.67% of total funding. During the week, Delhi-NCR startups raised $60.5 million in 10 transactions.