Continuing the funding momentum from the previous week, the second week of October witnessed Indian startups bagging $288 Mn across 24 deals. This week’s funding marks a 142% increase from the $119 Mn secured by Indian startups in the previous week across 11 deals. Additionally, this week also saw a mega deal, as fintech startup Zolve bagged $100 Mn in a debt funding round.
Funding Galore: Indian Startup Funding Of The Week [Oct 9 – Oct 14]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
11 Oct 2023
Zolve
Fintech
Banking
B2C
$100 Mn
Debt
Community Investment Management (CIM)
11 Oct 2023
InsuranceDekho
Fintech
Insurtech
B2C
$60 Mn
Series B
MUFG, BNP Paribas Cardif, TVS Capital, Goldman Sachs Asset Management, Avataar Ventures
10 Oct 2023
Krutrim SI Designs
Deeptech
IoT & Hardware
B2B
$24 Mn
Debt
Matrix Partners India
9 Oct 2023
Onsurity
Fintech
Insurtech
B2B
$24 Mn
Series B
IFC
IFC
12 Oct 2023
Oro Money
Fintech
Lendingtech
B2C
$12.5 Mn
–
Singularity Ventures, Three State Capital, 021 Capital, PI Opportunities Fund
10 Oct 2023
SuperOps. ai
Enterprisetech
Horizontal SaaS
B2B
$12.4 Mn
Series B
Addition, March Capital, Matrix Partners India
Addition
13 Oct 2023
Age Care Labs
Healthtech
Fitness & Wellness
B2C
$11 Mn
Pre-Series B
Rainmatter Capital, Gruhas
9 Oct 2023
Shiprocket
Logistics
Ecommerce Logistics
B2B
$11 Mn
Bridge Round
McKinsey & Company
11 Oct 2023
Lavie
Ecommerce
D2C
B2C
$9 Mn
–
First Bridge India Growth Fund
12 Oct 2023
Jiraaf
Fintech
Investment Tech
B2C
$8.7 Mn
Series B
Accel Partners, Harmony Partners
Accel Partners, Harmony Partners
9 Oct 2023
Pep
Media & Entertainment
Social Media & Chat
B2C
$2.5 Mn
Seed
India Quotient, Vidit Aatrey, Sanjeev Barnwal, Kunal Shah, Farooq Adam, Parag Bhide, Sambhav Mehrotra, Sridhar Subhramanian, Ravindra Yadav, Sargun Gulati
14 Oct 2023
Imagimake
Ecommerce
D2C
B2C
$2.3 Mn
–
Pidilite Ventures
10 Oct 2023
Meolaa
Ecommerce
B2C Ecommerce
B2C
$2 Mn
Seed
Turbostart
12 Oct 2023
Proxgy
Deeptech
IoT & Hardware
B2B
$2 Mn
Pre-Series A
LetsVenture, Planify Angel Fund, March Tech Fund, Cogniphy Angel Fund, Madhuram Papers Family Office, AKGVG & Associates
12 Oct 2023
KiVi
Agritech
Financial Services
B2B-B2C
$1.7 Mn
Seed
Caspian Leap, Piper Serica Angel Fund, YAN Angel Fund, Impact Innovators and Entrepreneurs Foundation
9 Oct 2023
Oyela
Ecommerce
Social Commerce
B2B-B2C
$1.6 Mn
Seed
Prime Venture Partners
Prime Venture Partners
10 Oct 2023
AuditCue
Fintech
Fintech SaaS
B2B
$1.5 Mn
Seed
Kalaari Capital, Java Capital
Kalaari Capital
10 Oct 2023
Eske Bags
Ecommerce
D2C
B2C
$1.5 Mn
Pre-Series A
Mistry Ventures, Fluid Ventures
Mistry Ventures
12 Oct 2023
OORJA
Cleantech
Electric Vehicle
B2B
$635K
Pre-Series A
IPV, Vinners Platform, Soonicorn Ventures
11 Oct 2023
Curelo
Healthtech
Healthcare Services
B2C
$100K
CIIE. CO
10 Oct 2023
Greto
Ecommerce
D2C
B2C
–
–
Yuvraj Singh
13 Oct 2023
Divine Foods
Ecommerce
D2C
B2C
–
–
Nayanthara, Vignesh Shivan
10 Oct 2023
Nawgati
Enterprisetech
Vertical SaaS
B2B
–
Seed
All in Capital
Key Startup Funding Highlights Of The Week
Fintech neobank startup Zolve raised $100 Mn in a debt funding round from the US-based impact investor Community Investment Management (CIM), making it the biggest funding deal of the week.
Fuelled by Zolve’s funding, the fintech sector emerged as the most funded sector this week, raising $206.7 Mn across six deals
Ecommerce sector witnessed the most deals this week. The sector saw seven deals with $16.4 Mn of funding.
Seed funding activity saw a marginal upswing this week, rising to $9.3 Mn across six deals.
Matrix Partners India was the busiest investor as it participated in two deals this week.
Other Major Developments From This Week
Warner Music India acquired E-Positive, an artist management company, to strengthen its presence in the country’s independent music space.
Singapore-based Jungle Ventures launched First Cheque@Jungle programme to back early stage startups in idea to seed stage.
Delhi NCR-based healthtech startup Zivov is in advanced talks to raise around $5 Mn in its pre-Series A funding round, sources told Inc42.
Nikhil Kamath, the cofounder of bootstrapped unicorn Zerodha, launched WTF Fund, a funding and mentorship programme for entrepreneurs under the age of 22.
Kunal Shah’s CRED is in talks to acquire investech platform Kuvera to enter the fast-growing stock and mutual fund broking market.
WestBridge Capital has acquired a stake in Meesho in a secondary transaction from its early and long-term backer Venture Highway.
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