Continuing with its upward momentum in the second week of December, the Indian startup ecosystem managed to secure $527 Mn across 21 deals, marking one of the highest funding weeks in the past two years, ever since the funding winter set in early 2022. This marks a 520% jump from $85 Mn raised across 18 deals in the preceding week.
Besides, the week also witnessed a mega deal in the ecosystem with Udaan raising $340 Mn in its Series E funding round.
Funding Galore: Indian Startup Funding Of The Week [Dec 11 – Dec 16]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
14 Dec 2023
Udaan
Ecommerce
B2B Ecommerce
B2B
$340 Mn
Series E
M&G Prudential, Lightspeed Venture Partners, DSG Global
M&G Prudential
13 Dec 2023
VeGrow
Agritech
Market Linkage
B2B-B2C
$46 Mn
–
GIC, Prosus Ventures, Matrix Partners India, Elevation Capital, Lightspeed Venture Partners
GIC
13 Dec 2023
Aye Finance
Fintech
Lendingtech
B2B
$37.3 Mn
Series F
British International Investment, The Waterfield Fund of Fund, A91 Partners
14 Dec 2023
Exponent Energy
Cleantech
Electric Vehicle
B2B
$26.4 Mn
Series B
Eight Road Venture Partners, TDK Ventures, Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, Pawan Munjal’s Family Office
Eight Road Venture Partners
15 Dec 2023
Ather Energy
Cleantech
Electric Vehicle
B2C
$16.8 Mn
–
Hero Motocorp
13 Dec 2023
Snitch
Ecommerce
D2C
B2C
$13.19 Mn
Series A
SWC Global, IvyCap Ventures
SWC Global, IvyCap Ventures
13 Dec 2023
Agilitas Sports
Ecommerce
D2C
B2C
$11.9 Mn
–
Nexus Venture Partners
12 Dec 2023
Nat Habit
Ecommerce
D2C
B2C
$10.2 Mn
Series B
Bertelsmann India Investments, Fireside Ventures, Amazon India Fund, Mirabilis Investment Trust and Sharrp Ventures
Bertelsmann India Investments
14 Dec 2023
QNu Labs
Enterprisetech
Horizontal SaaS
B2B
$6.5 Mn
Pre-Series A
Ashish Kacholia, Speciale Invest
15 Dec 2023
GoApptiv
Healthtech
Healthcare SaaS
B2B
$5 Mn
–
Cipla
14 Dec 2023
Pirimid Fintech
Fintech
Fintech SaaS
B2B
$3 Mn
–
Infibeam Avenues
11 Dec 2023
HairOriginals
Ecommerce
D2C
B2C
$2.75 Mn
Pre-Series A
Anicut Capital, Kesh Kala Family Office, Lets Venture, Dexter Angels, JITO Angel Fund, Pankaj Chaddah, Ahana Gautam
13 Dec 2023
Absolute Brands
Ecommerce
D2C
B2C
$2.5 Mn
Seed
Capstone Vetntures
Capstone Ventures
14 Dec 2023
SimYog
Enterprisetech
Horizontal SaaS
B2B
$2.4 Mn
Pre-Series A
Mela Ventures, 1Crowd, IdeaSpring
Mela Ventures, 1Crowd
12 Dec 2023
Twyn
Enterprisetech
Horizontal SaaS
B2B
$1.25 Mn
Pre-Series A
ah! Ventures, JITO Incubation
ah! Ventures
12 Dec 2023
Aliste Technologies
Deeptech
Hardware & IoT
B2C
$1 Mn
–
YourNest Venture Capital, Artha Venture Fund, Dholakia Ventures, KRS Jamwal, Anikarth Ventures
YourNest Venture Capital
13 Dec 2023
ofScale
Ecommerce
B2B Ecommerce
B2B
$375K
Seed
First Cheque, Matrix Partners India DeVC, Relentless VC, Abhishek Goyal, Mekin Maheshwari, Revant Bhate
12 Dec 2023
ChargeZone
Cleantech
Electric Vehicle
B2B-B2C
–
–
Macquarie Capital
14 Dec 2023
BurgerSingh
Consumer Services
Hyperlocal Delivery
B2C
–
Pre-Series B
Turner Morrison Ltd, Homage Ventures LLP
15 Dec 2023
Delta X Automotive
Cleantech
Electric Vehicle
B2C
–
–
ah! Ventures
13 Dec 2023
GRM Foodkraft
Ecommerce
D2C
B2C
–
–
Sauce vc
Key Startup Funding Highlights Of The Week
Business-to-business (B2B) ecommerce giant Udaan raised $340 Mn in its Series E financing round led by UK-based M&G Prudential, with participation from existing investors Lightspeed Venture Partners and DST Global, making it the biggest funding deal of the week.
Fuelled by Udaan’s funding, the ecommerce sector not only emerged as the most funded sector this week with $380.9 Mn funding but also witnessed a maximum number of deals with eight deal counts.
Lightspeed Venture Partners emerged as the busiest investors as it participated in two deals each.
Seed funding took a backseat this week with a mere $2.8 Mn across two deals.
Startup Acquisitions This Week
US-and India-based CareStack, a cloud-based dental practice management platform acquired Kerala-based artificial intelligence (AI) startup Waybeo for an undisclosed amount.
Direct-to-consumer (D2C) superfood brand Nourish You acquired Bengaluru-based One Good (erstwhile Goodmylk) for an undisclosed sum.
Fintech startup M2P acquired big data analytics and intelligence platform Goals101 for $30 Mn in a cash-and-equity deal.
Kunal Shah-backed Anq Finance acquired healthcare-focussed lending startup Kiwimoney for an undisclosed amount.
Indian mobile gaming company Octro acquired Israel-based DGN Games for an undisclosed amount.
Other Major Developments From This Week
Aditya Birla Group’s Hindalco Industries will invest INR 800 Cr to set up a battery foil manufacturing facility in Odisha’s Sambalpur district.
Climate-focused Asha Ventures marked the first close of its debut fund at $50 Mn, which will have a total corpus of $100 Mn.
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