With the year coming to an end, the deal momentum seems to have finally caught a break after recording three blockbuster funding weeks. Between December 25 and 30, 2023, Indian startups collectively raised $90 Mn across 10 deals, which is a 63% drop from $349 Mn funding raised across 25 deals in the previous week.
With no mega deal this week, the ecosystem embraced its second unicorn of the year with fintech startup InCred raising $60 Mn over a billion dollar valuation.
Funding Galore: Indian Startup Funding Of The Week [Dec 25 – Dec 30]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
25 Dec 2023
InCred
Fintech
Lendingtech
B2B-B2C
$60 Mn
Series D
Ranjan Pai, Ravi Pillai, Ram Nayak, Varanium Capital Advisors, Sattva Group
Ranjan Pai
26 Dec 2023
Revfin
Fintech
Lendingtech
B2B-B2C
$14 Mn
Series B
Omidyar Network, Asian Development Bank, Companion Capital Limited, Green Frontiers Capital, LC Nueva
Omidyar Network
28 Dec 2023
Pushp
Ecommerce
D2C
B2C
$12 Mn
–
Sixth Sense Ventures
27 Dec 2023
LivNSense
Cleantech
Climate Tech
B2B
$2.75 Mn
Pre-Series A
Pavestone Technology Fund
Pavestone Technology Fund
26 Dec 2023
Entitled Solutions
Enterprisetech
Horizontal SaaS
B2B
$1.3 Mn
–
–
29 Dec 2023
ProjectX.Cloud
Enterprisetech
Horizontal SaaS
B2B
$204.3K
–
Google Cloud
29 Dec 2023
Cashvisory
Fintech
Investment Tech
B2C
$144K
Seed
EvolveX, SucSEEDIndovation Fund, Upasana Koul
26 Dec 2023
TestnTrack
Edtech
Enterprise Edtech
B2B
–
Seed
EvolveX
28 Dec 2023
EcoRatings
Cleantech
Climate Tech
B2B
–
Seed
EvolveX
28 Dec 2023
SkinQ Dermo
Ecommerce
D2C
B2C
–
Seed
IPV, Venture Catalysts, Super Angels
IPV
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included
Key Startup Funding Highlights Of The Week
Fintech startup InCred, raised $60 Mn in Series D funding round led by Ranjan Pai, making it the biggest funding deal of the week.
Fuelled by InCred’s funding, the fintech sector not only emerged as the most funded sector this week with a total funding of $74.4 Mn funding but also recorded the most number of deal counts – three deals.
EvolveX by We Founder Circle emerged as the busiest investor as it participated in three deals each.
This week, $144 K was raised in seed funding across five deals.
Other Major Developments From This Week
Drone startup DroneAcharya Aerial Innovations acquiring 51% stakes in Pune-based PYI Technologies Pvt Ltd, a startup that offers camera drones, DIY kits and customised drones.
DMI Finance and Aditya Birla Finance are in discussions to acquire Bengaluru-based fintech startup ZestMoney.
Omnichannel marketplace FirstCry’s parent entity BrainBees Solutions Limited has filed a draft red herring prospectus (DRHP) and is looking to raise INR 1,816 Cr through fresh issues of shares.
Cash-strapped edtech startup BYJU’S is looking to raise $300 Mn from investors.
The post From InCred To Revfin— Indian Startups Raised $90 Mn This Week appeared first on Inc42 Media.
