Weekly funding Report of Indian Startup Companies[25 April - 30 April 2022]
![Weekly funding Report of Indian Startup Companies[25 April - 30 April 2022]](/Content/upload/2022/06/whatsapp-image-2022-06-09-at-40519-pmjpegaz5HJmop.jpeg)
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.