Following a brief dip in funding last week, the month of September is concluding on a notably stronger note. Indian startups raised $194 Mn across 34 funding deals, marking a substantial 113% increase from the $91 Mn raised in the prior week.
Throughout September, Indian startups garnered $995 Mn in funding over a span of four weeks.
Funding Galore: Indian Startup Funding Of The Week [Sept 25 – Sept 30]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
27 Sept 2023
Bright Money
Fintech
Lendingtech
B2C
$62 Mn
–
Encina Lender Finance, Alpha Wave, Hummingbird, Peak XV Partners
27 Sept 2023
Doceree
Enterprisetech
Horizontal SaaS
B2B
$35 Mn
Series B
Creaegis, Eight Roads Ventures, F-Prime Capital
Creaegis
28 Sept 2023
Third Wave Coffee
Ecommerce
D2C
B2C
$35 Mn
Series C
Creaegis, WestBridge Capital, Sujeet Kumar
Creaegis
26 Sept 2023
Pilgrim
Ecommerce
D2C
B2C
$20 Mn
–
Vertex Ventures Southeast Asia and India, Fireside Ventures and Narotam Sekhsaria Family Office
Vertex Ventures Southeast Asia and India (Temasek)
25 Sept 2023
Castler
Fintech
Payments
B2B
$5.5 Mn
Pre-Series A
Capital 2B, IIFL Fintech Fund, Flipkart Ventures
Capital 2B
29 Sept 2023
SigNoz
Enterprisetech
Horizontal SaaS
B2B
$5.4 Mn
–
SignalFire, Uncorrelated Ventures, Alumni Ventures
28 Sept 2023
Quick Smart Wash
Consumer Service
Hyperlocal Services
B2C
$5.15 Mn
–
Elan Corporation
22 Sept 2023
Legistify
Enterprisetech
Horizontal SaaS
B2B
$4 Mn
Series A
IndiaMart, Titan VC, GSF, Cathexis Ventures, Justin Hamilton, Enrission Group
27 Sept 2023
Data Sutram
Enterprisetech
Horizontal SaaS
B2B
$3 Mn
Series A
Bharat Fund, Singularity Growth Funds, Indian Angel Network, IndiaInfolIne, White Venture Capital
Bharat Fund
26 Sept 2023
Raptee
Cleantech
Electric Vehicle
B2C
$3 Mn
Pre-Series A
Bluehill Capital, Eugene Mayne, Lakshmi Narayanan, Ramesh Kannan, Chandu Nair
Bluehill Capital
29 Sept 2023
Clinkally
Ecommerce
D2C
B2C
$2.6 Mn
–
Y Combinator, Tribe Capital, Goodwater Capital, Sequoia Scout Fund, Rebel Fund
25 Sept 2023
abCoffee
Ecommerce
D2C
B2C
$2 Mn
Seed
Tanglin Ventures Partners, 100X.VC, Panthera Peak, OTP Venture Partners,
Tanglin Ventures Partners
27 Sept 2023
QuriousBit
Media & Entertainment
Gaming
B2C
$2 Mn
Seed
General Catalyst, Lumikai
29 Sept 2023
Fairdeal.Market
Ecommerce
B2B Ecommerce
B2B
$2 Mn
–
WaterBridge Ventures, Gemba Capital, GrowX Ventures, Priyaranjan Ventures, Manish Bajoria
WaterBridge Ventures
26 Sept 2023
Autocracy Machinery
Agritech
Farm Inputs
B2B
$1.2 Mn
Seed
Venture Catalysts, Nikhil Jaisinghani, Bharat Jaisinghani, Meghna Agarwal, Abhishek Rungta, Srikanth Iyengar, Abhishek Modi, VC Grid, S Four capital
Venture Catalysts
28 Sept 2023
MyMandi
Agritech
Market Linkage
B2B-B2C
$1.2 Mn
–
RTAF
25 Sept 2023
FlexifyMe
Healthtech
Telemedicine
B2C
$1 Mn
Seed
Flipkart Ventures, GSF, iHub Anubhuti, Chandigarh Angels (CAN), Venture Catalyst, OneCapital
28 Sept 2023
oorja
Cleantech
Electric Vehicle
B2B
$1.5 Mn
pre-Series A
Micello Fund, Capital-A, Java Capital, Anicut Capital, Lead Angels
Micello Fund
27 Sept 2023
PierSight
Deeptech
Spacetech
B2B
$600K
Seed
All In Capital, Andreas Klinger, Vismay Agrawal, Nikunj Jalan, Techstars
All In Capital
25 Sept 2023
AltUni
Edtech
Online Certification
B2C
$500K
Seed
Indian Angel Network, Vishesh C Chandiok, Ganesh Balakrishnan, Harsh Parikh, Narayan Babu, Supreet Singh, Ashvin George, Prashant Mohanraj, Shreyans Mehta, Amit Monteiro, Raghav Joshi, Mainak Shome, Bhoopesh Jain, Sandeep Bhadresa
27 Sept 2023
Zeron
Enterpristech
Horizontal SaaS
B2B
$500K
Seed
Varanium Capital, Yatra Angel Network
25 Sept 2023
StampThePassport
Travel Tech
Travel Planning & Activities
B2C
$481K
Seed
–
–
27 Sept 2023
Figr
Enterpristech
Horizontal SaaS
B2B
$250K
Seed
Antler India,
28 Sept 2023
DecorTwist
Ecommerce
D2C
B2C
$250K
Seed
Adhvith Dhuddu
Adhvith Dhuddu
26 Sept 2023
Belly Rubs
Ecommerce
B2C Ecommerce
B2C
$180K
Seed
25 Sept 2023
DIAL 4242
Healthtech
Healthcare Services
B2C
$120K
Seed
G Vamshi Raju, Starfish Ventures
G Vamshi Raju, Starfish Ventures
25 Sept 2023
Algomage
Enterpristech
Horizontal SaaS
B2B
–
Seed
Flipkart Ventures
25 Sept 2023
NimbleBox.ai
Enterpristech
Horizontal SaaS
B2B
–
Seed
Flipkart Ventures
25 Sept 2023
ReCircle
Cleantech
Waste Management
B2C
–
Seed
Flipkart Ventures
28 Sept 2023
BabyChakra
Ecommerce
D2C
B2C
–
–
Dia Mirza
29 Sept 2023
Axiom Ayurveda
Ecommerce
D2C
B2C
–
–
Emami
26 Sept 2023
NIKOL EV
Cleantech
Electric Vehicle
B2C
–
Seed
EvolveX
27 Sept 2023
Flow Sports Life
Consumer Services
Hyperlocal Services
B2C
Seed
IPV
IPV
29 Sept 2023
Drip Project
Ecommerce
D2C
B2C
–
–
Blume Ventures’ Blume Founders Fund, StrongHer Venture, Ankita Vasista, Priti Sawant
Blume Ventures’ Blume Founders Fund
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Bengaluru and San Francisco-based Consumer fintech startup Bright Money raised $62 Mn funding in a mix of equity and debt, making it the biggest funding deal of the week.
Fuelled by Bright Money’s fundraise, the fintech sector emerged as the most funded sector this week, securing $67.5 Mn across two deals.
Ahead of the festive season, the ecommerce sector witnessed the most number of deals. The sector saw ten deals and a total of $62 Mn being raised.
Seed funding activity surged this week with $9 Mn in fund infusion across 17 deals, a substantial jump from $5.4 Mn raised across five deals a week prior
Flipkart Ventures was the busiest investor this week as it participated in five deals.
Startup Acquisitions This Week
SaaS firm KaarTech acquired Chicago-based customer experience solutions consultancy company Dunn Solutions for an undisclosed amount.
D2C fashion startup Styched acquired performance wear brand Zymrat in a cash and equity swap deal.
Indian music giant Saregama is acquiring a 92.6% stake in the new-age digital entertainment startup Pocket Aces at a valuation of $40 Mn.
Other Major Developments From This Week
Debt VC firm Trifecta Capital announced the final close of its third venture debt fund, Trifecta Venture Debt Fund III, at INR 1,777 Cr.
According to Inc42 sources, electric vehicle (EV) charging infrastructure provider Bolt.Earth is in talks with investors to raise $20 Mn in its Series B round at a valuation of $100 Mn.
Hyderabad’s Young Entrepreneurs Association (YEA) launched its new startup fund with an initial corpus of INR 5 Cr for potential startups in the Hyderabad region.
Matrix Partners India has elevated three of its principals – Aakash Kumar, Pranay Desai, and Sudipto Sannigrahi – to the managing director roles.
Healthcare-focussed startup Affordplan this week saw a complete management buyout led by its CEO, thus giving a complete exit to the founders and four private equity investors.
The post From Bright Money To Doceree — Indian Startups Raised $194 Mn This Week appeared first on Inc42 Media.