Weekly Funding Roundup for June Fifth Week[27 June - 1st July]

Jul 26, 2022

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