Following two weeks of substantial growth in startup ecosystem funding, the third week of November experienced a significant decline.
Between November 13 and 18, the startup ecosystem collectively raised $44 Mn across 10 deals, marking a 72% decrease from the previous week’s $159 Mn raised across 18 deals.
Funding Galore: Indian Startup Funding Of The Week [Nov 13 – Nov 18]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
13 Nov 2023
Bakingo
Ecommerce
D2C
B2C
$16 Mn
–
Faering Capital
14 Nov 2023
Slice
Fintech
Lendingtech
B2C
$9 Mn
Debt
Stride Ventures
15 Nov 2023
CoverSelf
Fintech
Insurtech
B2B
$8.2 Mn
Seed
3one4 Capital, BEENEXT, Z21 Ventures
3one4 Capital, BEENEXT
16 Nov 2023
Inito
Healthtech
Medtech
B2C
$6 Mn
Series A
Fireside Ventures
Fireside Ventures
13 Nov 2023
General Autonomy
Deeptech
Hardware & IoT
B2B
$3 Mn
Seed
India Quotient, Elevation Capital, Srinath Ramakkrushnan, Ramakant Sharma, Ankush Sachdeva
India Quotient, Elevation Capital
16 Nov 2023
Centa
Edtech
Online Certification
B2B-B2C
$1 Mn
–
Leo Puri, Pankaj Sahini, Bahram Vakil, Nikhil Mohta
13 Nov 2023
SecurWeave
Enterprisetech
Horizontal SaaS
B2B
$336K
Seed
IAN, Romesh Sobti, Uday Chatterjee, Nagendra P Bandaru, Prakash
IAN
14 Nov 2023
Breathe ESG
Enterprisetech
Horizontal SaaS
B2B
$315K
Seed
100X. VC, KANJ Realty Ventures, Hyderabad Angels
100X. VC
16 Nov 2023
Happy Nature
Ecommerce
D2C
B2C
$300K
Pre-Series A
IPV
17 Nov 2023
Airattix
Logistics
Storage Services
B2B-B2C
$276K
Pre-Series A
–
–
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Bakery goods startup Bakingo raised $16 Mn funding from private equity firm Faering Capital, making it the biggest funding deal of the week.
Fuelled by Slice and CoverShelf’s funding, the fintech sector emerged as the most funded sector this week, raising $17.2 Mn across two deals.
The ecommerce and fintech witnessed the most number of deals – two each. While enterprisetech startups bagged $16.3 Mn, startups in the fintech sector raised $17.2 Mn.
Seed funding saw an astronomical rise with $11.8 Mn in funding across four deals.
Startup Acquisitions This Week
Media-focussed SaaS unicorn Amagi acquired UK-based Tellyo’s business for an undisclosed amount.
Agritech startup DeHaat acquired the fruit export business of Ahmedabad-based listed fruit export firm Freshtrop Fruits in an all-cash deal.
Other Major Developments From This Week
Ranjan Pai’s family office acquired the $250 Mn debt availed by BYJU’S offline coaching arm Aakash Educational Services Limited (AESL) from Davidson Kempner.
Traveltech SaaS startup RateGain has launched a qualified institutional placement (QIP) to raise fresh capital worth INR 600 Cr.
Bhavish Aggarwal’s Ola Electric has converted into a public entity, a mandatory step required before filing IPO papers.
Lendingtech startup Moneyboxx Finance is set to raise INR 70 Cr ($9 Mn) from HNIs and family offices as a part of a strategic investment.
The post From Bakingo To Slice — Indian Startups Raised $44 Mn This Week appeared first on Inc42 Media.
