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

Jun 9, 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.