The second week of November saw a revival in startup funding, aligning with the festive spirit.
Between November 6 and November 10, Indian startups garnered a collective $159 Mn across 18 deals, marking a 19.5% uptick from the previous week’s $133 Mn total funding.
Funding Galore: Indian Startup Funding Of The Week [Nov 6 – Nov 10]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
7 Nov 2023
Xpressbees
Logistics
Ecommerce Logistics
B2B
$80 Mn
–
Ontario Teachers’ Pension Plan
8 Nov 2023
Zepto
Consumer Services
Hyperlocal Delivery
B2C
$31 Mn
Series E
Goodwater Capital, Nexus Venture Partners, Oliver and Lish Jiung, Mangum II LLC
Goodwater Capital, Nexus Venture Partners
6 Nov 2023
Euler Motors
Cleantech
Electric Vehicle
B2B
$14.4 Mn
Series C
British Internation Invetment (BII), Green Frontier Capital, Athera Venture Partners, ADB Ventures, Blume Ventures, Alteria Capital, GIC Singapore, QRG Holdings
British Internation Invetment (BII), Green Frontier Capital
7 Nov 2023
Sequretek
Enterprisetech
Horizontal SaaS
B2B
$8 Mn
Series A
Omidyar Network India, Narottam Sekhsaria Family Office, Alteria Capital
Omidyar Network India
9 Nov 2023
GoMechanic
Consumer Services
Hyperlocal Services
B2B-B2C
$6 Mn
Stride Ventures
7 Nov 2023
Vaaree
Ecommerce
D2C
B2C
$4 Mn
–
Peak XV’s Surge, PeerCapital, All In Capital, Better Capital
Peak XV’s Surge
7 Nov 2023
Bimaplan
Fintech
Fintech SaaS
B2B
$3.5 Mn
Pre-Series A
Orios Venture Partners, Finsight Ventures, 2am VC
Orios Venture Partners
8 Nov 2023
LivSYT
Real Estate Tech
Real Estate SaaS
B2B
$2.5 Mn
Seed Round
Valley Quad, Inventus Capital
Valley Quad, Inventus Capital
8 Nov 2023
Quickwork
Enterprisetech
Horizontal SaaS
B2B
$2.5 Mn
Pre-Series A2
DMI Alternative Investment Fund, NIS Venture Group
DMI Alternative Investment Fund, NIS Venture Group
8 Nov 2023
WishCare
Ecommerce
D2C
B2C
$2.4 Mn
–
Unilever Ventures
6 Nov 2023
mirAR
Deeptech
AR/VR
B2B
$1.75 Mn
–
Diaspark Inc
7 Nov 2023
OnFinance Ai
Fintech
Fintech SaaS
B2B
$1.05 Mn
Seed
Silverneedle Ventures, IAN, LetsVenture Fund, SSV Fund, Kunal Shah
Silverneedle Ventures, IAN
8 Nov 2023
BranchX
Fintech
Banking
B2C
$900K
Bridge
Abdul Khaliq, Rais Motlekar, Afzal Modak
8 Nov 2023
Offee
Edtech
Edtech SaaS
B2B
$630K
–
JITO Incubation and Innovation Fund, Bombay Industry Association
9 Nov 2023
Natch
Ecommerce
D2C
B2C
$360K
Seed
Artha Venture Fund, DSP Family Office
Artha Venture Fund
6 Nov 2023
Varco Leg Care
Healthtech
Fitness & Wellness
B2C
$240K
Neeraj Garg
Neeraj Garg
6 Nov 2023
Himshakti
Ecommerce
D2C
B2C
$99.8K
–
We Founder Circle
9 Nov 2023
O’ Be Cocktails
Alcohol Beverage
Alcohol Beverage
B2C
–
Pre-Series A
IPV
IPV
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Bengaluru-based B2B logistics startup Xpressbees bagged $80 Mn from the Ontario Teachers’ Pension Plan, making it the biggest funding deal of the week.
Fuelled by Xpressbees funding, the enterprisetech sector emerged as the most funded sector, raising $80 Mn.
The ecommerce sector witnessed the most number of deals this week. The sector bagged $6.8 Mn across four deals.
This week, the seed funding saw a marginal improvement with $3.9 Mn being raised across three deals.
Alteria Capital was the busiest investor of this week as it participated in two deals.
Other Major Developments From This Week
Rainmatter-backed Game Theory acquired sports analytics startup Matchday.ai for an undisclosed amount.
India might get its second unicorn of 2023, as fintech startup Incred announced receiving commitments of $60 Mn, which will allow it to join the unicorn club.
Travel Boutique Online, or TBO Tek Ltd, has filed its draft red herring prospectus (DRHP) to raise upto INR 400 Cr through a fresh issue of shares. The IPO offer also includes an offer-for-sale (OFS) component of 1.56 Cr equity shares.
In a big relief to BYJU’S, the family office of Manipal Group chairman Ranjan Pai has acquired the $250 Mn debt availed by Aakash Educational Services Limited (AESL) from Davidson Kempner.
The post From Xpressbees To Zepto — Indian Startups Raised $159 Mn This Week appeared first on Inc42 Media.
