Following two weeks of growth in funding, the Indian startup ecosystem witnessed a decline in the third week of October. From October 16 to October 21, 2023, the startup ecosystem raised $237 Mn across 20 deals, marking a 18% downfall compared to $288 Mn raised across 24 deals last week.
Funding Galore: Indian Startup Funding Of The Week [Oct 16 – Oct 21]
Date
Name
Sector
Subsector
Business Model
Funding Round Size
Funding Round Type
Investors
Lead Investor
18 Oct 2023
Zetwerk
Enterprisetech
Enterprise Services
B2B
$120 Mn
Series F
Avenir Growth Capital, Lightspeed, Greenoaks Capital, Steadview Capital
Avenir Growth Capital
18 Oct 2023
Neo
Fintech
Investment Tech
B2B
$35 Mn
–
Peak XV Partners
17 Oct 2023
Agnikul Cosmos
Deeptech
Spacetech
B2B
$26.7 Mn
Series B
Celesta Capital, Rocketship. vc, Artha Venture Fund, Artha Select Fund, Mayfield India, pi Ventures, Speciale Invest, Mayfield India
19 Oct 2023
Freight Tiger
Logistics
Freight
B2B
$18 Mn
Tata Motors
17 Oct 2023
Leucine
Enterprisetech
Vertical SaaS
B2B
$7 Mn
Series A
Ecolab, Pravega Ventures, Axilor Ventures, Techstars
Ecolab
16 Oct 2023
Freyr
Cleantech
Solar Tech
B2B-B2C
$6.9 Mn
Series B
EDFI ElectriFI, Schneider Electric Energy Asia Fund (SEEAA), Lotus Capital LLC, Maybright Ventures, VT Capital
EDFI ElectriFI
19 Oct 2023
Showroom B2B
Ecommerce
B2B Ecommerce
B2B
$6.5 Mn
Pre-Series A
Jungle Ventures, Accion Venture Lab, Saison Capital, ICMG Partners
Jungle Ventures
20 Oct 2023
BharatAgri
Agritech
Market Linkage
B2B-B2C
$4.3 Mn
Series A
Arkam Ventures, Capria Ventures, India Quotient 021 Capital, Omnivore
Arkam Ventures
19 Oct 2023
Mokobara
Ecommerce
D2C
B2C
$3.6 Mn
–
Saama Capital, Sauce VC, Alteria Capital
17 Oct 2023
Game Theory
Consumer Services
Hyperlocal Services
B2C
$2 Mn
Pre-Series A
Ranimatter, Rohan Bopanna, WEH Ventures, Prequate Advisory, Balakrishna Adiga
18 Oct 2023
Tap Invest
Fintech
Investment Tech
B2B
$2 Mn
Seed
Turbostart, Snow Leopard Ventures, Kunal Shah, Kashyap Shah
18 Oct 2023
Alwrite
Fintech
Fintech SaaS
B2B
$1.2 Mn
Seed
Apurva Parekh, Viral Thakker, Amit Sheth, Sanjay Bhagat, Shrenik Shah, Sumit Bohra
17 Oct 2023
Omnivio
Logistics
Logistics SaaS
B2B
$1.02 Mn
Seed
Caret Capital, Blume Ventures, Eximius VC, SuniconVenture Fund, Misfits
Caret Capital
19 Oct 2023
HiWi
Fintech
Payments
B2B-B2C
$870K
Pre-Seed
Unicorn India Ventures, Unmaj Group Family Office
17 Oct 2023
Done Deal
Fintech
Investmen Tech
B2B
$800K
Pre-Seed
Gruhas, WFC Capital, Capital-A, Dezerv Innovation Fund, ICE. VC
16 Oct 2023
P-TAL
Ecommerce
D2C
B2C
$520K
Seed
Titan Capital, Anicut Capital, Ghazal Alagh, Sandeep Aggarwal, Vishesh Khurana, Ashutosh Valani, Priyank Shah, Bala Sarda, Deep Bajaj, Mohit Bajaj, Ashish Tulsian, Arjun Vaidya
Titan Capital
19 Oct 2023
Smarter Dharma
Ecommerce
B2B Ecommerce
B2B
$500K
Seed
Rainmatter, Gruhas, Anthill Ventures
19 Oct 2023
Welcome Cure
Healthtech
Telemedicine
B2C
$480K
Pre-Series A
IPV
IPV
20 Oct 2023
Niyo
Fintech
Neobank
B2C
–
–
Spring Marketing Capital
17 Oct 2023
InsurStaq. ai
Fintech
Insurtech
B2B-B2C
–
–
Faad Network
Key Startup Funding Highlights Of The Week
Enterpritech startup Zetwerk raised $120 Mn in a Series F funding round from Avenir Growth, making it the biggest funding deal of the week.
Fuelled by Zetwerk’s funding, the enterpristech sector emerged as the most funded sector this week, raising $127 Mn across two deals.
The fintech sector witnessed the most deals this week. The startups in the sector raised $40 Mn across seven deals.
Seed funding activity saw a significant decline this week, falling to $5.2 Mn across seven deals from $9.3 Mn last week.
Gruhas was the busiest investor as it participated in two deals this week.
Other Major Developments From This Week
Video editing platform provider VideoVerse acquired AI-powered design system Optikka for an undisclosed amount.
Singularity Growth announced the first close of its second fund – Singularity Growth Opportunities Fund II – at INR 500 Cr. The second fund’s total corpus is INR 1,500 Cr.
Beleaguered healthtech startup Mojocare’s board decided that the startup will shut its operations and return remaining capital to investors.
Fintech SaaS startup Perfios conducted an ESOP buyback worth INR 154 Cr, turning 62 of its employees millionaires.
The post From Zetwerk To Neo — Indian Startups Raised $237 Mn This Week appeared first on Inc42 Media.
