After a week of record-breaking investment, August ended on a quieter note with $341 Mn in startup funding. Following a surge in the third week of August, investment levels saw a significant decline in the fourth week.
Between August 28 and September 2, Indian startups collectively secured $52 Mn across 12 deals — a 77.4% drop compared to the $231 Mn raised in the previous week, which also marked the emergence of a new unicorn after an 11-month hiatus.
Funding Galore: Indian Startup Funding Of The Week [Aug 28 – Sept 2]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
30 Aug 2023
MediBuddy
Healthtech
Telemedicine
B2C
$18 Mn
–
Quadria Capital, Lightrock, TEAMFund
29 Aug 2023
SatSure
Deeptech
Spacetech
B2B
$15 Mn
Series A
Baring Private Equity Partners India, Promus Ventures, Omidyar Network India, xto10x, Force Ventures, Luckbox Ventures, IndigoEdge Advisors
Baring Private Equity Partners India, Promus Ventures
31 Aug 2023
CredRight
Fintech
Lendingtech
B2C
$9.7 Mn
–
Michael & Susan Dell Foundation, YourNest, Spearhead Capital, 9Unicorns, AccionVenture Lab, Blacksoil, Caspian Debt, RevX Capital, Westen Capital
Michael & Susan Dell Foundation
31 Aug 2023
Facets.cloud
Enterprisetech
Horizontal SaaS
B2B
$4 Mn
Seed
3one4 Capital, Abhinav Asthana, Pallav Nadhani, Aneesh Reddy, Krishna Mehra, Sreedhar Pedinneni
3one4 Capital
1 Sept 2023
Varthana
Fintech
Lendingtech
B2C
$2.5 Mn
Debt
Symbiotics Investments
31 Aug 2023
ShipEase
Logistics
Ecommerce Logistics
B2B
$1 Mn
Pre-Series A
IPV
IPV
30 Aug 2023
HeyoPhone
Enterprisetech
Horizontal SaaS
B2B
$500K
Angel
Aakash Chaudhury, Amit Chaudhary, Dinesh Gupta
29 Aug 2023
India Index
Logistics
Supply Chain
B2B
$500K
Seed
Parth Jindal, Vaaman Sehgal, Robert Lansing
30 Aug 2023
MrMed
Healthtech
Online Pharmacy
B2C
$500K
–
Tamil Nadu Emerging Sector Seed Fund (TNESSF), BEEJ Network, Vish Entrepreneurs LLP
Tamil Nadu Emerging Sector Seed Fund (TNESSF)
29 Aug 2023
ScrapUncle
Consumer Services
Hyperlocal Services
B2C
$447K
Seed
Madhuram Papers family office, Bharat Jaisinghani
Madhuram Papers family office
28 Aug 2023
Upraised
Enterprisetech
Horizontal SaaS
B2B
$30K
Seed
Pontaq
28 Aug 2023
Rupid
Fintech
Fintech SaaS
B2B-B2C
–
Seed
EvolveX
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Healthtech startup MediBuddy raised an additional funding of $18 Mn from its existing investors for strategic acquisitions, making it the biggest fundraise of the week.
Boosted by Medibuddy’s investment, the healthtech sector emerged as the most funded this week, securing $18.5 Mn across two deals.
Fintech and enterprisetech were the front-runners with the highest deal count, securing $12.2 Mn and $4.5 Mn respectively across three deals each
After a record seed funding of $14 Mn last week, this week, five early stage funding deals were recorded.
Other Major Developments From This Week
The Indian government under the Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT) will provide a grant of up to INR 50 Lakh to startups to promote technical textiles in the country.
Venture capital (VC) firm gradCapital launched its second fund with a total size of $6 Mn to invest in student startups.
The post From MediBuddy To SatSure — Indian Startups Raised $52 Mn This Week appeared first on Inc42 Media.
