Weekly Funding Report for September Third Week

Weekly Funding Report for September Third Week

This week, 24 Indian Startups received funding with 23 receiving approximately $220 million. The top fundraisers were Zopper and Light Microfinance, which raised $75 million and $24 million, respectively. Last week, 36 domestic entrepreneurs raised $246 million in fundraising.

Growth/late-stage deals

This week, five growth stage companies received surplus funding, including $75 million from fintech start-up Zopper and $24 million from Light Microfinance.

Sr. No.

Startup Name

Segment

Amount Raised

(In $Mn)

Series

Lead Investor/s

Investors Participated

1

Zopper

fintech

75

Series B

Creaegis

ICICI Venture, Bessemer Venture Partners, and Blume Ventures.

2

Light Microfinance

Fintech

24

Series C

British International Investment

Nordic Microfinance Initiative, Triple Jump BV, and Incofin IM

3

Join Ventures

D2C

23.5 

Series B

MO Alternate Investment Advisors Private Limited.

Convivialité Ventures and DSG Consumer Partners.

4

  Kuku FM

Audio Platform

21.8

Series B1

Nandan Nilekani-backed The Fundamentum Partnership

  Paramark, KRAFTON Inc, 3one4 Capital, Vertex, Verlinvest, and FounderBank Capital

             
   

Total

220

     

Early-stage deals

19 companies raised capital during the early stages, including an undisclosed round. Bhanzu, an edtech business, topped the list with $15 million. Deep Rooted, an agritech firm, and Immortal, a web3 start-up, are added in the list.

Sr. No.

Startup Name

Segment

Amount Raised

(In $Mn)

Series

Lead Investor/s

Investors Participated

1

Bhanzu

Edtech

15

Series A

Eight Roads Ventures and B Capital

N/A

2

Deep Rooted

Agritech

12.5

Series 

IvyCap Ventures

Mayfield, Accel, Omnivore

3

FS Life

E-commerce

50 crore(Rs) 

Series B

Fireside Ventures

N/A

Deals by city and section

This week, Bengaluru-based companies led in both the number of startup transactions and capital raised. According to Fintrackr data, six Firms in Bengaluru received $87 million this week, accounting for 39.33% of the cumulative funding. During the week, Mumbai and  $47 million and Hyderabad-based companies raised $19 million, respectively, in three separate transactions.

Transactions

  • Join Ventures, a platform for D2C companies, has raised $23.5 million in funding from MO Alternate Investment, Convivialité Ventures, and DSG Consumer Partners
  • The Fundamentum Partnership, Paramark, KRAFTON Inc, 3one4 Capital, Vertex, and Verlinvest made an investment. $21.8 million in audio platform KukuFM
  • Bhanzu, a math learning platform, has raised $15 million in funding from Eight Roads Ventures and B Capital.
  • Fireside Ventures and other famous angel investors contributed Rs 50 crore to the House of Brands platform FS Life.

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