Weekly Funding Roundup for June Fifth Week[27 June - 1st July]
![Weekly Funding Roundup for June Fifth Week[27 June - 1st July]](/Content/upload/2022/07/whatsapp-image-2022-07-26-at-112523-amjpegQf1qlQxG.jpeg)
The fifth week of June saw 19 Indian startup businesses acquiring finance, with 16 of them receiving a total of around $275.38 million. Arzooo and PropShare raised the most, a total of $117 million, $70 million, and $47 million, respectively.
Among all these, the notable thing is that around 31 homegrown startups collected around $980 million, which says a lot about smart and talented minds all around.
Growth/Late-Stage Deals
Among the 6 growth and late-stage startups that have collected funds, Arzooo’s $70 million round and PropShare’s $47 million round topped the charts, followed by e-commerce platform Purple Style, fintech startup Progcap, and fintech startup GetVantage.
Sr. No. |
Startup Name |
Segment |
Amount Raised (In Mn $) |
Series |
Valuation [on round] |
Lead Investor/s |
Investors Participated |
1 |
Arzooo |
B2B |
70 |
Series B |
$32 Mn |
SBI Investment |
Trifecta Leaders Fund, Celesta Capital, and 3 Lines VC |
2 |
PropShare |
Proptech |
47 |
Series B |
$165-170 Mn |
WestBridge Capital |
Pravega Ventures |
3 |
Progcap |
Fintech |
40 |
Series C |
$600 Mn |
Tiger Global, Creation Investments and Sequoia Capital, Google |
N/A |
4 |
GetVantage |
Fintech |
36 |
Undisclosed |
Undisclosed |
Varanium Nexgen Fintech Fund, DMI Sparkle Fund, and Chiratae Ventures and Dream Incubator Japan |
Sony Innovation Fund, InCred Capital, and Haldiram’s Family Office |
5 |
Purple Style |
E-commerce |
10 |
Series B |
Undisclosed |
Akash Bhansali |
N/A |
6 |
Lendingkart |
Fintech |
9.4 |
Debt |
Undisclosed |
GMO LLC and Triodos Investment |
N/A |
|
|
TOTAL |
212.4 |
|
|
|
|
Early-stage deals
13 startups have successfully raised funds in the early-stage agreements, including three undisclosed rounds. B2B startup Solv topped the list with a $40 million round. Fintech startup CheQ Digital and EV startup Turno are present on the list too.
Sr. No |
Startup Name |
Segment |
Amount Raised (In Mn $) |
Series |
Valuation on the first round |
Lead Investor/s |
1 |
Solv |
B2B |
40 |
Series A |
|
SBI Holdings |
2 |
CheQ Digital |
Fintech |
10 |
Seed |
|
Venture Highway and 3one4 Capital |
3 |
Turno |
EV |
3.1 |
Undisclosed |
|
Stellaris Venture Partners and Avaana Capital. |
4 |
AquaExchange |
Fintech |
3 |
pre-Series A |
|
Endiya Partners and Accion Venture Lab |
5 |
Sourcewiz |
SaaS |
2.5 |
pre-Series A |
|
Matrix Partners India |
6 |
Karomi Technology |
SaaS |
2 |
pre-Series A |
|
Cornerstone Venture Partners Fund |
7 |
BiofuelCircle |
Biofuel marketplace |
0.75 |
Seed |
|
Spectrum Impact, Better Capital, Dr Shridhar Shukla |
8 |
Mekr |
Electronics manufacturer |
0.73 |
Seed |
|
Titan Capital and Better Capital |
9 |
Supersourcing |
B2B |
0.5 |
Seed |
|
Vijay Shekhar Sharma |
10 |
Hav. |
Healthtech |
0.4 |
Undisclosed |
|
StartUp Health |
|
|
TOTAL |
62.98 |
|
|
|
Undisclosed deals
Open Secret, NOTO, and AHODS did not provide their financial details.
Sr. No. |
Startup Name |
Segment |
Lead Investor/s |
Headquarter |
Founders |
1 |
Open Secret |
D2C |
Ananta Capital |
Mumbai |
Ahana Gautam, Udit Kejriwal |
2 |
NOTO |
packaged food |
Venture Catalysts |
Bengaluru |
Varun Sheth, Ashni Shah and Samoneh Ette |
3 |
AHODS. |
Hydrogen Fuel |
Oil Marketing Company Indian Oil Corporation |
Delhi-NCR |
Abdul Paravengal, Lajesh Kolath, Sajith Nair |
City and segment-wise fundings
Fintrackr’s data indicates that Bengaluru topped the charts again after the previous four week’s dominance, with 8 Bengaluru-based startups raising funds adding up to $179.9 million, which is 65.33 % of the total funding. Delhi-NCR-based startups weren’t far behind on the line, raising $43.23 million across 4 deals.
Acquisitions this week
Apart from the numerous fundraisings, there were three notable acquisitions too. The list includes the acquisition of AI startup TheDataTeam by Lentra, Owndays by Lenskart and Pinaka Aerospace, SharpTanks and Wheels India by Zetwerk.
Acquired by |
Segment |
Acquisition Type |
Startup/Company |
Segment |
Deal Size($Mn) |
Lentra |
Fintech |
Acquired |
TheDataTeam |
AI |
- |
Lenskart |
Eyewear |
Acquired Majority Stake |
Owndays |
Eyewear |
- |
Zetwerk |
B2B infrastructure |
Acquired |
Pinaka Aerospace |
Infrastructure |
- |
Zetwerk |
B2B infrastructure |
Acquired Majority Stake |
SharpTanks |
Infrastructure |
- |
Zetwerk |
B2B infrastructure |
Acquired |
Wheels India |
Auto component manufacturer |
$12.7 |