Weekly Funding Roundup for August First Week (01 Aug-06 Aug)

Weekly Funding Roundup for August First Week (01 Aug-06 Aug)

The First week of August saw 25 Indian start-ups raising funds this week, and 22 received around $89.69 million. The two biggest fundraisers, Innoviti and MarketWolf, took in $25 million and $10 million, respectively. This will rank as one of the smallest sums raised by Indian start-ups in a week during the last few years. Nineteen domestic start-ups raised roughly $275.38 million last week. The sum was $980 million the prior week.

Three of the firms that received cash remained secretive about their funding sources.

Growth/Late-Stage Deals

This week, only two growth and late-stage start-ups have scooped up funds, including Innoviti's $25 million round and agritech start-up Way Cool's $6.5 million debt round. Notably, there were no larger rounds in the week, and the two growth start-ups mentioned above have raised funds as part of the previous or ongoing round.

Sr.

No.

Start-up

Name

Segment

Biz

model

Amount

Raised

(In $Mn)

Series

Valuation [on round]

Lead

Investor/s

Investors

Participated

  1.  

Bizongo

B2B marketplace

B2B procurement marketplace

25

Series D

Undisclosed 

Liquidity Group's Mars Growth Capital

N/A

Xpressbees*

Logistics

E2E supply chain

24.7

Secondary

Undisclosed

Avendus Future Leaders Fund

N/A

3

WebEngage

SaaS

Marketing automation

20

Series B

Undisclosed

Singularity Growth Opportunities Fund

SWC Global, India Quotient, Blume Ventures and IAN Fund

4

MobiKwik

Fintech

Digital payment solutions

4.43

Debt

Undisclosed

Black soil Capital

N/A

     

Total-

74.13

       

Early-stage deals

Unexpectedly, early-stage start-ups have managed to raise more funds than growth-stage start-ups this week. In the early stage, 25 start-ups have raised funds, including seven undisclosed rounds. Fintech start-up Deserv was on top of the list with a $20.7 million Series A round. The list also includes fintech start-up Twid and EV start-up River.

Sr.

No.

Start-up

Name

Segment

Biz model

Amount

Raised

(In Mn$)

Series

Valuation on the first round

Lead

Investor/s

1.

Dezerv**

Fintech

Invest tech

20.7

Series A

$100 Mn

Accel Partners

2.

Twid

Fintech

Rewards on payment

12

Series A

 

Rakuten Capital

3. 

River

EV

EV scooters

11

Series A

 

Chris Sacca’s Lowercarbon Capital

4. 

Jify.co

Fintech

Employee financial benefit

10

Series A

 

Accel and Nexus Venture Partners

5. 

Credit Fair

Fintech

Lending solutions

10

Seed

 

LC Nueva’s fund–LC Nueva AIF

6. 

CredAble

Fintech

Supply chain finance

9

Seed

 

Axis Bank

7. 

Farmley

Agritech

B2B e-commerce for farm products

6

Series A

 

DSG Consumer Partners and Alkemi Growth Capital

8. 

Tartan

Fintech

Payroll data

4.5

pre-Series A

 

500 Global, InfoEdge Ventures, and Naval Ravikant-backed AngelList Quant Fund

9. 

Emitrr

SaaS

customer communication and engagement

4

pre-Series A

 

Chiratae Ventures, Venture Highway, FortyTwo VC and Axilor Ventures

10. 

Ottonomy

Logistics

Robotics

3.3

Seed

 

pi Ventures

11. 

Bluecopa

Fintech

Finance operations

2.3

Seed

 

T-Fund and Blume Ventures

12. 

Combonation

E-commerce

E-commerce

2

pre-seed

 

Undisclosed

13. 

VOIZ

Hrtech

Freelancer marketplace

2

Seed

 

Omidyar Network

14. 

Blue Nectar

Ayurvedic

Skin and hair care products

1.2

Series A

 

Alok Bansal (Co-founder and Exec Vice Chairman Policy Bazaar), Alpesh Shah (Sr Partner and MD, BCG India), Mohit Saxena (Co-founder, InMobi), Raj Nair (Chairman, Avalon Consulting), Sudhanshu Vats (Deputy MD Pidilite Industries Limited), Sachi Thomas (Executive VP and Director, Nestle Nutrition), Vijay Nehra

15

Fabrication Bazar

Manufacturer of metal products

Manufacturer of metal products

0.88

Seed

 

Inflection Point Ventures

16. 

Omnivio

Logistics

E-commerce logistics

0.4

Seed

 

Supermorpheus, Dexter Angels, and 91 Ventures

17. 

Brevistay

Hospitality

Hotel room renting

0.37

Seed

 

Indian Angel Network

18. 

EVIFY

EV

EV logistics

0.1

Seed

 

We Founder Circle

     

Total-

99.75

     

Undisclosed deals    

Bebe Burp, Covalensedigital, IMBR, Generic Aadhaar, Incluzon, InterviewDesk and Arista Vault did not disclose their financial details.   

Sr. No.

Start-up

Name

Segment

Biz model

Lead

investor/s

Headquarter

Founders

1.

Bebe Burp

Foodtech

Baby food

Priyam Patel of Tirupati Oil, Lalpit Gandhi of Vadilal Group, Prashant Sanghavi

Surat

Shruti Tibrewal

2.

Covalensedigital

SaaS

Software monetisation

SIDBI Venture Capital

Bengaluru

Sreenivas Peesapati

3. 

IBMR

Gaming

Social gaming

Dream Capital

Bengaluru

Karan Misra and Prashant Prabhakar

4. 

Generic Aadhaar

Healthtech

Pharmaceutical

Beyond Next Ventures

Mumbai

Arjun Deshpande

5.

Incluzon

Hrtech

Recruitment

ah! Ventures Angel Platform

Mumbai

Naveen Jangir

6. 

InterviewDesk

Hrtech

Recruitment

Sugumar Natarajan

Chennai

Pichumani Durairaj

7.

Arista Vault

D2C brand

D2C consumer electronics

Mainstage Angel Network and Pontaq

Gurugram

Purvi Roy

City and segment-wise fundings   

This week, Mumbai-based start-ups were on top in terms of the number of start-up deals and the amount they raised. According to Fintrackr's data, 8 Mumbai-based start-ups have raised funds this week, amounting to $78.5 million or 45.15% of the total funding. 

Fintech start-ups were the top segment regarding the number of deals, as start-ups in this space raised $72.93 million across 8 deals. SaaS, logistics, HRTech, EV and e-commerce start-ups were next on the list.

Acquisitions this week 

Sr. No.

Acquired by

Segment

Acquisition

Type

Start-up/Company

Segment

Deal

Size($Mn)

1.

upGrad

Edtech

Acquired

Exampur

Edtech

Undisclosed

2. 

ICICIdirect

Wealth management

Acquired

Multipie

Networking

plattorm

Undisclosed

3.

Nykaa

Marketplace

Acquired

Little Black Book

E-commerce

Undisclosed

 

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