SUMMARY
Indian startups cumulatively raised $114 Mn across 22 deals, a 32% increase from $86.4 Mn raised across 16 deals last week
Deeptech emerged as the investor favourite sector this week on the back of Haber’s $38 Mn fundraise
Seed funding picked up this week to $17.8 Mn from $1.9 Mn last week
After a significant drop in funding trends leading into the month of October, investor sentiment picked up slightly in the second week of the month. Indian startups raised $114 Mn via 22 deals during October 7-12, up 32% from $86.4 Mn raised last week across 16 deals.
This was the second week when no mega funding rounds materialised. This came after a quarter filled with heightened funding interest. In the third quarter of calendar year 2024, Indian startup funding doubled year-on-year to $3.4 Bn from $1.7 Bn in the same period last year. Late-stage investments surged 115% to surpass the $2.1 Bn mark in the September quarter this year from $984 Mn in Q3 2023.
Funding Galore: Indian Startup Funding This Week [Oct 7-12]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 10 Oct 2024 | Haber | Deeptech | Robotics Process Automation (RPA) | B2B | $38 Mn | – | Accel India, Beenext Capital, Creaegis | – |
| 9 Oct 2024 | Spry Therapeutics | Healthtech | Healthcare SaaS | B2B | $15 Mn | – | Flourish Ventures, Together Fund, Fidelity’s Eight Road Ventures, F Prime Capital | Flourish Ventures |
| 10 Oct 2024 | Millenium Babycares | Ecommerce | D2C | B2C | $14.5 Mn | – | Pantamoth Capital | Pantamoth Capital |
| 9 Oct 2024 | Urja Mobility | Cleantech | Electric Vehicle | B2B | $12 Mn | pre-Series A | Mufin Green Finance Limited, Hindon Mercantile Limited | Mufin Green Finance Limited, Hindon Mercantile Limited |
| 7 Oct 2024 | XDLINK | Deeptech | Spacetech | B2B | $7 Mn | Seed | Ashish Kacholia, E2MC, Mana Ventures | Ashish Kacholia |
| 9 Oct 2024 | BioPrime | Agritech | Farm Inputs | B2B | $6 Mn | Series A | Edaphon, Omnivore, Inflexor | Edaphon |
| 8 Oct 2024 | Dezy | Healthtech | Telemedicine | B2C | $6 Mn | – | Alpha Wave, Chiratae Ventures, Peak XV | – |
| 9 Oct 2024 | Swara Fincare | Fintech | Lendingtech | B2B | $2.3 Mn | Series A | Unitus Capital, Piper Serica, Dev Verma, Mukund Madhav, Sumit Ranjan | Unitus Capital |
| 9 Oct 2024 | Figr | Enterprisetech | Horizontal SaaS | B2B | $2.2 Mn | Seed | Kalaari Capital, Antler, Golden Sparrow | Kalaari Capital |
| 9 Oct 2024 | LearnTube | Edtech | Skill Development | B2C | $2 Mn | Seed | Blitzscaling Ventures, Goodwater Capital, Bisk Ventures, ACT | – |
| 7 Oct 2024 | Framer AI | Enterprisetech | Horizontal SaaS | B2B | $2 Mn | Seed | Lumikai | Lumikai |
| 7 Oct 2024 | Nayan Tech | Enterprisetech | Horizontal SaaS | B2B | $2 Mn | pre-Series A | BEENEXT, We Founder Circle, Venture Catalysts, LetsVenture, FAAD Capital | BEENEXT |
| 9 Oct 2024 | ZenStatement | Fintech | Fintech SaaS | B2B | $1.6 Mn | Seed | 3One4 Capital, Boldcap VC, Dynamis Ventures, Atrium Angels | 3One4 Capital, Boldcap VC |
| 10 Oct 2024 | Datazip | Enterprisetech | Horizontal SaaS | B2B | $1 Mn | Seed | Equirus InnovateX Fund | Equirus InnovateX Fund |
| 4 Oct 2024 | Holiday Tribe | Travel Tech | Travel Planning & Activities | B2C | $642K | Seed | Powerhouse Ventures, GSF, Dinesh Agarwal, Dinesh Gulati, Murugavel Janakiraman, Gaurav Kapur | Powerhouse Ventures, GSF |
| 10 Oct 2024 | Onlygood.ai | Cleantech | Climate Tech | B2B | $475K | Seed | IITMIC, Goel Group, DICV | – |
| 9 Oct 2024 | iRasus Technologies | Cleantech | Electric Vehicle | B2B | $475K | Seed | IAN Group, DFAN | IAN Group |
| 10 Oct 2024 | flutrr | Media & Entertainment | Social Media & Chat | B2C | $446K | – | Zee Media Corporation | Zee Media Corporation |
| 10 Oct 2024 | Social Hardware | Deeptech | Robotics Process Automation (RPA) | B2B | $381K | Seed | Inflection Point Ventures, Ivyleague Ventures, Soonicorn Ventures | Inflection Point Ventures |
| 9 Oct 2024 | Deftouch | Media & Entertainment | Gaming | B2C | – | – | KRAFTON, T-accelerate Capital, Lumikai, Visceral Capital, Play Venture | KRAFTON, T-accelerate Capital, Lumikai |
| 8 Oct 2024 | Jivi AI | Healthtech | Personal Health Management | B2C | – | – | Andrew Ng | Andrew Ng |
| Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included |
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Key Startup Funding Highlights Of The Week
- Artificial intelligence (AI)-based robotics startup Haber bagged the biggest cheque this week, securing $38 Mn (INR 317 Cr) by issuing Series C CCPS to venture capitalist (VC) firms Accel India, Beenext Capital, and Creaegis.
- On the back of Haber’s funding round, deeptech toppled enterprise tech to emerge as the investor favourite sector this week. Deeptech startups raised $45.4 Mn across three deals this week.
- However, enterprise tech saw the most number of deals materialise this week. Startups in the sector raised $7.2 Mn across four deals this week. Trailing it were deeptech and cleantech, with both the sectors seeing a similar number of three deals.
- Beenext and Lumikai emerged as the most active investors this week, backing two startups apiece. While Beenext invested in Haber and Nayan Tech, Lumikai backed Framer AI and Deftouch.
- Seed funding picked up this week to $17.8 Mn from $1.9 Mn last week.
