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

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.

Sr. No.

Startup Name

Segment

Amount Raised

(In $Mn)

Series

Valuation [on round]

Lead Investor/s

Investors Participated

1

Rapido

Bike taxi

180

Series D

$800 Mn

Nexus Ventures, WestBridge, TVS Motor, and Shell Ventures

N/A

2

Isprava

Proptech

130

Undisclosed

Undisclosed

The Burman Family Office and the Nadir Godrej Family Office

N/A

3

Observe.AI

SaaS

125

Series C

Undisclosed

SoftBank Vision Fund 2

N/A

4

Lenskart

D2C eyewear

100

Series I

$4.3 Bn

Alpha Wave Incubation (Previously Falcon Edge)

N/A

5

MedikaBazaar

B2B supply chain

65

Undisclosed

$700 Mn

Lighthouse India Fund III.

British International Investment (formerly CDC), Creaegis, Health Quad, Ackermans & van Haaren, and KOIS Holdings

6

Itilite

SaaS

29

Series C

Undisclosed

Tiger Global and Dharana Capital

Matrix Partners India and Tenacity Ventures

7

Newton School

Edtech

25

Series B

$138 Mn

Steadview Capital

RTP Global

8

Phable

Healthtech

25

Series B

Undisclosed

Kalaari Capital

Aflac Ventures, Digital Horizon, and Stride Ventures

9

Medfin

Healthtech

15

Series B

Undisclosed

Blume Ventures, Axilor Ventures, Sony, Arka Nxt and Kotak Investments contributed to the project.

10

MyShubhLife

Fintech

13

Undisclosed

Undisclosed

Gojo & Company, Inc (Gojo)

N/A

   

Total

707

       

 

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.

Sr. No.

Startup Name

Segment

Amount Raised

(In Mn $)

Series

 

Lead Investor/s

Investors Participated

1

Last9

SaaS

11

Series A

 

Sequoia Capital India

Better Capital

2

Mesh

HR tech

11

Series A

 

RTP Global

N/A

3

Securden

SaaS

10.5

Series A

 

Tiger Global

N/A

4

EPNS

Web3.0

10.1

Series A

$131 Mn

Jump Crypto

A.Capital, Sino Global Capital, Polygon Studios, Harmony Foundation, Wintermute, Zee Prime Capital, Woodstock Ventures, DCX Ventures, Alpha Wave Capital, Zebpay, TRGC, and iSeedVC are the companies 

5

YOUKRAFT

AI

10

Seed

 

Goel Family Office including Manav Goel

N/A

6

Stockal

Fintech

9

Series A

 

ARC Group Ventures, 7Square, PEAK6, AZ Ventures, Riso Capital, Shared, Hashed, PEAK6, ARC Group Ventures

N/A

7

Spyne

Deeptech

7

Undisclosed

 

Accel

Storm Ventures, Smile Group, Pentathlon Ventures, Core91

8

MediSage

Edtech

7

Undisclosed

 

Bessemer Venture Partners

N/A

9

LimeChat

Chatbot

4.2

Seed

 

Stellaris Venture Partners

Pi Ventures, Titan Capital

10

EximPe

Fintech

3.5

Seed

 

Leo Capital

Investors including Founder Bank Capital, iSeed Ventures, 2am VC, LetsVenture, and BoldCap

11

Hubble

Fintech

3.4

Seed

 

Sequoia Capital India

Kunal Bahl and Sateesh Andra

12

Glip

Gaming

3

pre-Series A

 

Prime Venture Partners

Better Capital and iSeed

13

Pratech Brands

D2C

3

Undisclosed

 

Surge

N/A

14

Zipy

SaaS

2.8

Seed

 

Blume Ventures and Together Fund

Jyoti Bansal

15

iTribe

Fintech

1

pre-seed

 

Eximius Ventures, Kunal Shah

Pearl Agarwal

16

HBox

Healthtech

0.7

Seed

 

Arali Ventures

N/A

17

Laurik

Healthtech

0.48

Undisclosed

 

Undisclosed

N/A

18

GROWiT

Agritech

0.39

Seed

 

Mehul Shah from IVY Growth

Coppermint LLP, Gaurav Singhvi (founder of WFC), Rajeev Goel (Sagar Life Sciences), Sunay Shah (Mahati Electrics), Rohan Desai (CEO of Triumph Capital), and Mukul Goyal (founder of Tapi Capital LLP).

19

Myraah

SaaS

0.35

pre-seed

 

Arun Balakrishnan

N/A

20

Wildermart

E-commerce

0.32

Seed

 

Undisclosed

N/A

21

Leaf Round

Fintech

0.3

pre-seed

 

Upsparks, Superb Capital

N/A

22

Frigate

SaaS

0.17

pre-seed

 

Vel Kanniappan, Angel Investor, Srinath Ramakkrushnan

N/A

   

Total

99.21

       

 

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.

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