Weekly Funding Report for September Third Week

Oct 17, 2022

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.