Weekly funding Report of Indian Startup Companies 11 April 16 April 2022

The Indian startup ecosystem has remained stable in April, with venture financing inflows remaining consistent and at a decent level.

In the week, 37 Indian businesses secured finance, with 32 receiving $806.21 million in total. Rapido, Isprava, and Observe received the most money totaling around $180 million. AI, which raised $130 million, and AI, which raised $125 million. Last week, 27 domestic businesses raised $955.14 million in fundraising.

In the meantime, the funding of five of the total supported firms has remained a secret.

The highlights of the week are: Venture investing in Indian firms reached $500 million in the third week of the month, supported by substantial deals from Rapido Bike Taxi and The Isprava Group. This funding was lower than the $941 million recorded in the prior week's similar period. Given the overall global situation and the developments surrounding Zilingo, the financial climate is projected to be constricted in the months ahead. Furthermore, given the volatility of the stock exchanges, startups entering the public markets via the IPO route are extremely rare.

Transactions

• Swiggy, TVS Motor Company, Westbridge, Shell Ventures, and Nexus Ventures invested $180 million in bike taxi network Rapido.
• Nadir Godrej Family Office, the Burman Family Office, and others provided $130 million in funding to Isprava Group, a real estate developer.
• Medikabazaar, a B2B medical supply portal, received $65 million in funding from Lighthouse India Fund III, Creaegis, Health Quad, and others.
• Itilite, a SaaS company, has raised $29 million in funding from Tiger Global and Dharana Capital.
• Kalaari Capital, Aflac Ventures, Digital Horizon, Stride Ventures, and others invested $25 million in healthcare firm Phable.
• Arka Nxt, HealthXCapital, Blume Ventures, Axilor Ventures, Sony, and Kotak Investments all contributed $15 million to healthcare firm Medfin.
• MyShubhLife, a fintech firm, raised Rs 100 crore ($13 million) from Gojo & Company.
• Hashed, PEAK6, ARC Group Ventures, Trica, 7Square, AZ Ventures, Czar Capital, and Riso Capital invested $9 million in Stockal, an investment platform.
• Accel, Storm Ventures, Smile Group, Pentathlon Ventures, Core91, and angel investors contributed $7 million to deep tech firm Spyne.
• MediSage, a healthtech business, has raised $7 million in funding. One prominent investor among the many others is Bessemer Venture Partners

Growth/late-stage deals 

Rapido's $180 million round, Isprava's $130 million round, and Observe.ai's $125 million round were among ten growth and late-stage businesses that received funding this week.

Early-stage deals 

27 startups have raised funds in early-stage deals, including five undisclosed rounds. With an $11 million round each, SaaS startup Last9 and HR tech startup Mesh topped the list. Securden, a SaaS firm, EPNS, a Web 3.0 startup, and YOURKRAFT, an AI platform, are also on the list.

Undisclosed deals 

Weldiwale, PaySprint, Jobsgaar, and Tealfeed did not provide financial information.

City and segment-wise funding 

Bengaluru leads the pack this week in terms of the number of startup deals and the money raised. According to Fintrackr data, 20 Bengaluru-based firms raised $525.82 million this week, accounting for $65.22 percent of total fundraising. During the week, Delhi-NCR companies raised $114.55 million in seven deals, followed by Mumbai and Pune, which each garnered $5 million. Each Jaipur and Chennai closed one deal. In terms of the number of deals, SaaS and fintech businesses were the most active, with seven startups raising $178.82 million and $30.2 million, respectively. Next on the list were health tech, edtech, and direct-to-consumer (D2C) brands.

Acquisitions this week

The third week of acquisitions. Pine Labs has acquired Mosambee, Uniphore has acquired Colabo, and Ultrahuman has acquired LazyCo.