Weekly funding Report of Indian Startup Companies[25 April - 30 April 2022]

Weekly funding Report of Indian Startup Companies[25 April - 30 April 2022]

This week, 43 Indian businesses secured finance, with 38 receiving around $329.5 million. Turtlemint received the most money, almost $120 million, followed by Lenskart, which received $25 million. 37 domestic businesses raised $564.44 million in funding last week.

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

Growth or Late Stage deals

Turtlemint's $120 million round, Lenskart's $25 million Series I round, and Truemeds' $22 million round are among the 11 growth and late-stage firms that received funding this week.

Sr. No.

Startup Name

Segment

Amount Raised

(In $Mn)

Series

Valuation [on round]

Lead Investor/s

Investors Participated

1

Turtlemint

Insurtech

120

Series E

$900-$950 Mn

The companies are Amasa Capital, Jungle Ventures and Nexus Venture Partners.

Vitruvian Partners and Marshall Wace

2

Lenskart

D2C Eyewear

25

Series I

$4.32 Bn

Epiq Capital,

N/A

3

Truemeds

Telehealth

22

Series B

$80 Mn

Westbridge Capital

InfoEdge Ventures, Asha Impact and IAN Fund

4

Ayu Health

Healthtech

21.4

Series B

Undisclosed

Fundamentum Partnership

Vertex, Stellaris and 57 Stars Meditech Holdings

5

ideaForge

Drone manufacturer

20

Series B

Undisclosed

Florintree

Celesta Capital

6

Skillmatics

D2C

15.8

Series B

$127 Mn

Sofina Ventures

Sequoia Capital and Smiti Holdings

7

WoodenStreet

D2C

15

Series B

$156 Mn

WestBridge Capital

N/A

8

Captain Fresh

B2B animal protein

7.5

Series C

$500 Mn

Evolvence India Fund

N/A

9

FreshMenu

Foodtech

6.53

Series C

$27 Mn

Florintree Solutions

N/A

10

Eduvanz

Fintech

6.53

Debt

Undisclosed

MAS, Vivriti, Oxyzo, and Unifi AIF

N/A

11

Zypp Electric

EV

1

Debt

Undisclosed

Northern Arc

N/A

   

Total

260.76

       

 

Early-stage deals 

32 startups have raised financing in early-stage agreements, including five secret rounds. Zenda, a fintech firm, and DSLR Technologies, a content commerce startup, topped the list with rounds of $9.4 million and $7 million, respectively. BGAUSS, an electric vehicle startup, and Tractor Junction, a vehicle marketplace, are also on the list.

Sr. No.

Startup Name

Segment

Amount Raised

(In Mn $)

Series

Valuation on the first round

Lead Investor/s

1

Zenda

Fintech

9.4

Seed

 

STV, COTU, Global Founders Capital, and VentureSouq

2

DSLR Technologies

Content commerce

7

Seed

 

Matrix Partners and Accel Partners

3

BGAUSS

EV

6.8

Undisclosed

 

Darshan Patel

4

Tractor Junction

Vehicle marketplace

5.7

Seed

 

Info Edge Ventures and Omnivore

5

TravClan

E-commerce

4.7

pre-Series A

 

Hashed Emergent Fund

6

Navikenz

AI

4

Seed

 

Sudip Nandy

7

Poshn

Agritech

3.8

Undisclosed

 

Prime Venture Partners,

8

BeatO

Healthtech

3.5

Debt

 

W Health Global LLC

9

Revise

NFT

3.5

Seed

 

AlphaWave Global & 8i Holdings.

10

Finbots.AI

SaaS

3

Series A

 

Accel's Fund VII

11

Nao Spirit

Beverages

2.61

Undisclosed

 

United Spirits

12

Convin

AI

2

Seed

 

Kalaari Capital

13

TEAL

Proptech

2

Undisclosed

 

Omidyar Network, Info Edge

14

Cubyts

SaaS

1.8

Seed

 

Better Capital

15

iDreamCareer

Edtech

1.63

Undisclosed

 

Menterra Social Impact Fund.

16

Humantic AI

AI

1.5

Undisclosed

 

Members of Coinbase and Pinterest's boards Gojul Rajaram and John Donovan

17

Staqu

AI

1.43

pre-Series A

 

Mount Judi Venture and SIS Limited

18

Pawfectly

pet food

1

Undisclosed

 

Licious

19

Baaz

Vidoe e-commerce

0.7

Undisclosed

 

Lead Angels and RISO Capital

20

GoPaani

Water delivery

0.6

Seed

 

3one4 Capital, PointOne Capital

21

Teamonk

premium tea

0.45

pre-Series A

 

Inflection Point Ventures

22

Actlogica

Fintech

0.39

Seed

 

Rainmatter Capital

23

VS Mani & Company

Foodtech

0.37

Angel

 

Haresh Chawla, Anup Mittal

24

Fitspire

Healthtech

0.3

Undisclosed

 

Ivor Braganza and Rajesh Sud

25

French Crown

D2C

0.26

Undisclosed

 

Velocity.in

26

Hydenmet

AI

0.15

Angel

 

ah! Ventures

27

eMedEvents

Healthtech

0.15

Undisclosed

 

We Founder Circle

   

Total

68.74

     

 

Undisclosed deals  

Sateeq, Zama Organics, WiJungle, and Nexus Power did not provide financial information.

Sr. No.

Startup Name

Segment

Lead investor/s

Headquarter

Founder(s)

1

OneGreen

B2B marketplace

Nimisha Nagarseka (Founder and CEO of Sixth Sense Ventures) and Nikil Vora

Gurugram

Abhijit Bhattacharya

2

Sateeq

Fintech

Undisclosed

Gurugram

Krishna Maggo

3

Zama Organics

Grocery

Mira Rajput Kapoor

Mumbai

Shriya Naheta

4

WiJungle

Cybersecurity

SOSV

Jaipur

Karmesh Gupta ad Praveen Gupta

5

Nexus Power

EV

JITO Angel Network

Bhubaneshwar

Nishita and Nikita Baliarsingh

 

City and segment-wise fundings 

Bengaluru topped the list this week regarding the total quantity of startup acquisitions and the money raised. According to Fintrackr, 17 Bengaluru-based firms raised $51.05 million this week, accounting for 15.49 percent of total fundraising. Startups in Delhi-NCR raised $45.87 million in 11 deals this week, followed by Mumbai, Jaipur, and Indore with 8,2 and 1 deal each.

Acquisitions this week

The fourth week of acquisitions. CredAvenue purchased the repository, and Kristal purchased globalise. Whatfix's AI, Whatfix's Leap, and Dehaat's Y-Cook.

Acquired by

Segment

Type of Acquisition

Startup/company

Segment

CredAvenue

Debt marketplace

Acquired Majority Stake

Corpository

Credit underwriting

Kristal.Al

AI

Acquired

Globalise

Fintech

Whatfix



Adoption solution provider

Acquired

Leap.is

Mobile-first onboarding and assistance

Dehaat

Agritech

Acquired

Y-Cook

Foodtech

HuddleUp receives seed funding of $550,000.

HuddleUp is the AI-powered people performance system, that received $550,000 in seed funding from a group of notable investors. The lead investor was Anicut Capital, which oversees two debt funds and an equity-based angel fund and Blume Founders' Fund, First Cheque, Huddle & Upsparks.

Furthermore, famous founders and Angel Investors such as Dr Ritesh Malik (Innov8), Rajesh Sawhney (GSF), Gireesh S (Freshworks), Mandeep Manocha (Cashify), Sameer (SuperMorpheus), and Manu Jain (VAMA) have joined HuddleUp in the round.

The funds would be used to develop a strong team dedicated to increasing expansion in Indian and international markets. The funding will be used to develop a passionate and strong product with the help of an industry-led expert team.

This platform was founded by Kshitij Mohan and Varun Varma in 2021. It helps organizations retain top talent and increase productivity through continuous check-ins, intelligent real-time experience analytics, suggested 1-on-1s, Manager Learnings, gamified Kudos, etc.

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