The month of October got off to a sluggish start in terms of funding for the Indian startup ecosystem. During the first week of the month, Indian startups have secured $119 Mn across 11 deals, marking a 38% decrease to the previous week when the ecosystem collectively bagged $194 Mn across 34 deals.
Funding Galore: Indian Startup Funding Of The Week [Oct 2 – Oct 7]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
4 Oct 2023
Bizongo
Ecommerce
B2B Ecommerce
B2B
$50 Mn
Series E
Schroder Adveq, IFC, Chiratae Ventures, B Capital, British International Investment
Schroder Adveq
5 Oct 2023
Mensa Brands
Ecommerce
Roll Ups
B2C
$40 Mn
Debt
EvolutionX Debt Capital
5 Oct 2023
Bolt. Earth
Cleantech
Electric Vehicle
B2B-B2C
$20 Mn
Series B
Union Square Ventures, Prime Venture Partners, ITIGO Funds
4 Oct 2023
DPDzero
Fintech
Fintech SaaS
B2B
$3.25 Mn
Seed
Blume Ventures, India Quotient, Sunil Gulati, Nikhil Kumar
Blume Ventures, India Quotient
4 Oct 2023
ClearFeed
Enterprisetech
Horizontal SaaS
B2B
$2.7 Mn
Seed
Peak XV’s Surge, 8VC
Peak XV’s Surge
3 Oct 2023
The Cube Club
Ecommerce
D2C
B2C
$1.1 Mn
Seed
Harsh Jain, Salagaocar Family Office, Siddharth Ladsariya, Rajeev Sahney
3 Oct 2023
Roopya
Fintech
Fintech SaaS
B2B
$601K
Seed
100X.VC
4 Oct 2023
Altitude
Fintech
Investment Tech
B2C
$500K
Seed
–
5 Oct 2023
Answer Genomics
Healthtech
Fitness & Wellness
B2C
$500K
Pre-series A
IPV
IPV
5 Oct 2023
Dressfolk
Ecommerce
D2C
B2C
$397K
Seed
All-in Capital, Sidhant Keshwani, Sidesh Chauhan, Riju Jhunjhunwala
All-in Capital
4 Oct 2023
YouVah
Enterprisetech
Horizontal SaaS
B2B
$210K
Seed
CIIE. CO
Key Startup Funding Highlights Of The Week
B2B vendor management startup Bizongo raised $50 Mn in a Series E funding led by Schroder Adveq, making it the biggest funding deal of the week.
Fuelled by Mensa Brands & Bizongo’s fundraise, the ecommerce sector emerged as the most funded sector this week, raising $91.4 Mn. The sector also secured the most number of deals i.e. 4, making it the funded sector overall.
Seed funding activity saw a marginal dip this week with $8.75 Mn in infusion across 7 deals. Last week, $9 Mn was raised in a seed funding across 17 deals.
Startup Acquisitions This Week
Listed caller identification app Truecaller acquired Bengaluru-based TrustCheckr, to help businesses verify customer information and detect the risk of fraud based on phone numbers.
This week, Inc42 exclusively reported that gaming unicorn Dream11’s acquisition of fantasy cricket platform Sixer for an undisclosed amount.
Nazara Technologies’ NODWIN Gaming acquired a 100% stake in PublishME for $2 Mn.
After receiving an RBI approval fintech unicorn slice will be merging with North East Small Finance Bank (NESFB).
Other Major Developments From This Week
GVFL, formerly known as Gujarat Venture Finance Limited, has launched an accelerator programme – Xcelerate Program, in partnership with Marwari Catalysts for seed stage startups. The programme, will provide mentorship and investment in the range of INR 75 Lakh to INR 2.5 Cr
Bengaluru-based car rental startup Zoomcar is eyeing to list on the American stock exchange Nasdaq in the ongoing quarter through a special purpose acquisition company (SPAC) deal.
Chairman of Manial Group – Ranjan Pai is reportedly in talks to make a major investment in the beauty ecommerce unicorn Purplle.
Everest Fleet has given 18.8X and 19X exits to its early backers – Rockstud Capital and Artha Venture Fund respectively after securing investment from Uber and Paragon Ventures
The post From Bizongo To Mensa Brands — Indian Startups Raised $119 Mn This Week appeared first on Inc42 Media.
