SUMMARY
Indian startups cumulatively raised $260.1 Mn from 31 deals between April 15-20
Fintech took the leader spot this week with startups in the sector cumulatively raising $74.8 across 5 deals
Seed funding slightly picked up this week to $26.2 Mn, a 17% increase from $21.6 Mn from last week
After an uptick in the investment activity across the Indian startup ecosystem, funding saw a marginal dip in the third week of April. Between April 15 and 20, startups cumulatively raised $260.1 Mn across 31 deals, a 9% drop from $286.3 Mn secured across 16 deals in the preceding week.
Note: This week’s funding galore also includes deals from the preceding week
Funding Galore: Indian Startup Funding Of The Week [April 8 – April 20]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 11 Apr 2024 | iBUS | Enterprisetech | Horizontal SaaS | B2B-B2C | $200 Mn | – | National Investment and Infrastructure Fund | National Investment and Infrastructure Fund |
| 16 Apr 2024 | GPS Renewables | Cleantech | Waste management | B2B | $50 Mn | Debt | Punjab National Bank, HDFC Bank, Yes Bank, HSBC Bank, Kotak Mahindra Bank, ICICI Bank, Citibank, Vivriti Capital, Northern Arc, Spark Capital, Tata Capital, SIDBI | – |
| 18 Apr 2024 | Altum Credo | Fintech | Lendigtech | B2C | $40 Mn | Series C | Z3Partners, Oikocredit, British International Investment, Aavishkaar Capital, Amicus Capital | Z3Partners, Oikocredit |
| 16 Apr 2024 | ProcMart | Ecommerce | B2B Ecommerce | B2B | $30 Mn | Series B | Fundamentum Partnership, Edelweiss Discovery Fund, Paramark Ventures, Sixth Sense Ventures, IndiaMART | Fundamentum Partnership, Edelweiss Discovery Fund |
| 19 Apr 2024 | Ecozen | Agritech | Farm Inputs | B2C | $30 Mn | Equity and Debt | Nuveen, InCred Credit Fund, US International Development Finance Corporation | Nuveen |
| 10 Apr 2024 | Neysa | Enterprisetech | Horizontal SaaS | B2B | $20 Mn | Seed | Matrix Partners India, Nexus Venture Partners, NTTVC | Matrix Partners India, Nexus Venture Partners, NTTVC |
| 9 Apr 2024 | Sprinto | Enterprisetech | Horizontal SaaS | B2B | $20 Mn | Accel, Elevation Capital, Blume Ventures | Accel | |
| 10 Apr 2024 | Recykal | Cleantech | Waste management | B2B | $13.2 Mn | Pre-Series B | 360 ONE Asset Management | 360 ONE Asset Management |
| 17 Apr 2024 | RING | Fintech | Lendigtech | B2C | $12 Mn | – | Trifecta Capital | Trifecta Capital |
| 15 Apr 2024 | JJG Aero | Deeptech | IoT & Hardware | B2B | $12 Mn | – | CX Partners | CX Partners |
| 18 Apr 2024 | Beyond Odds | Edtech | Online Certification | B2C | $11 Mn | Seed | Matrix Partners India, Lightspeed India, InnoVen Capital, Alteria Capital, Ritesh Agarwal, Gaurav Munjal, Mayank Kumar, Ramakant Sharma, Sumer Juneja | Matrix Partners India, Lightspeed India |
| 15 Apr 2024 | Varthana | Fintech | Lendigtech | B2B-B2C | $10 Mn | Debt | BlueOrchard Finance | BlueOrchard Finance |
| 11 Apr 2024 | AVIOM HFC | Fintech | Lendigtech | B2C | $10 Mn | Debt | BlueOrchard Microfinance Fund | BlueOrchard Microfinance Fund |
| 18 Apr 2024 | Uniqus Consultech | Enterprisetech | Enterprise Services | B2B | $10 Mn | Series B | Nexus Venture Partners, Sorin Investments | Nexus Venture Partners |
| 17 Apr 2024 | LightFury | Media & Entertainment | Gaming | B2C | $8.5 Mn | Seed | Blume Ventures, MIXI, Gemba Capital, Kunal Shah, Gaurav Munjal | Blume Ventures |
| 17 Apr 2024 | Wow! Momo | Consumer Services | Hyperlocal Delivery | B2C | $8.3 Mn | – | Z3Partners | Z3Partners |
| 15 Apr 2024 | RupeeRedee | Fintech | Lendingtech | B2C | $7.8 Mn | Equity and Debt | InCred Finance, Grow Money Capital, APV Management | InCred Finance, Grow Money Capital |
| 16 Apr 2024 | ClickPost | Logistics | Logistics SaaS | B2C | $6 Mn | Series A | Inflexor Ventures Partners, Athera Venture Partners, Riverwalk Holdings, Rebright Partners | Inflexor Ventures Partners, Athera Venture Partners |
| 8 Apr 2024 | axio | Fintech | Lendingtech | B2C | $6 Mn | Debt | Alteria Capital | Alteria Capital |
| 8 Apr 2024 | Planys | Deeptech | Robotics Process Automation (RPA) | B2B | $5 Mn | – | Ashish Kacholia | Ashish Kacholia |
| 15 Apr 2024 | ClaimBuddy | Fintech | Fintech SaaS | B2B | $5 Mn | Series A | Bharat Innovation Fund, CAC Capital, Chiratae Ventures, Rebright Partners | Bharat Innovation Fund |
| 14 Apr 2024 | Butterfly Learnings | Healthtech | Home Healthcare | B2C | $3.8 Mn | Series A | Insitor Impact Asia Fund, Enzia Ventures, IIMA Ventures, Foundation Botnar, 9 Unicorns, Venture Catalysts | Insitor Impact Asia Fund, Enzia Ventures |
| 16 Apr 2024 | Medulance | Healthtech | Healthcare Services | B2C | $3 Mn | Series A | Alkemi Growth Capital, Dexter Capital, Aman Gupta, Namita Thapar | Alkemi Growth Capital |
| 11 Apr 2024 | AutoNxt Automation | Cleantech | Electric Vehical | B2C | $3 Mn | Pre-Series A | Saama Capital, Amit Singhal, Bluehill Capital, Keiretsu Forum, Soonicorn Ventures | Saama Capital |
| 12 Apr 2024 | Arrivae | Ecommerce | D2C | B2C | $2.5 Mn | Series B | Mithun Sacheti | Mithun Sacheti |
| 15 Apr 2024 | Clientell | Enterprisetech | Horizontal SaaS | B2B | $2.5 Mn | Seed | Blume Ventures, Chiratae Ventures, Artha Venture Fund, Z5 Capital | Blume Ventures |
| 18 Apr 2024 | ZEPIC | Enterprisetech | Horizontal SaaS | B2B | $2.1 Mn | Pre-Seed | Neon Fund | – |
| 19 Apr 2024 | Spintly | Deeptech | IoT & Hardware | B2B | $2 Mn | Seed | Accel, Chakra Growth Fund | – |
| 18 Apr 2024 | Includ | Ecommerce | D2C | B2C | $1.5 Mn | Seed | Incubate Fund Asia, Escape Velocity, Abhishek Goyal, IIM Indore Alumni Angel Fund | Incubate Fund Asia |
| 11 Apr 2024 | Age Care Labs | Healthtech | Home Healthcare | B2C | $1.2 Mn | – | SIS Limited | SIS Limited |
| 16 Apr 2024 | Amwoodo | Ecommerce | D2C | B2C-B2B | $1 Mn | – | Rainmatter | Rainmatter |
| 18 Apr 2024 | Circle Of Games | Media & Entertainment | Gamming | B2C | $1 Mn | – | Nazara Technologies, Hashgraph Association | – |
| 8 Apr 2024 | PlatinumRx | Healthtech | Online Pharmacy | B2C | $800K | Seed | India Quotient | – |
| 10 Apr 2024 | Zulu Defence Systems | Deeptech | Dronetech | B2B | $750K | Seed | Finvolve | Finvolve |
| 16 Apr 2024 | Varco Leg Care | Ecommerce | D2C | B2C | $500K | Seed | Sunicon Maiden Fund | Sunicon Maiden Fund |
| 15 Apr 2024 | WeCare | Healthtech | Diagnostics Services | B2C | $350K | – | – | – |
| 16 Apr 2024 | PlanckDOT | Enterprisetech | Horizontal SaaS | B2B | $350K | – | – | – |
| 18 Apr 2024 | Sapience Automata | Deeptech | Robotics Process Automation (RPA) | B2C-B2B | $210K | Seed | Inflection Point Ventures | Inflection Point Ventures |
| 11 Apr 2024 | Garden of Joy | Consumer Services | B2C-B2B | $101K | Seed | Inflection Point Ventures | Inflection Point Ventures | |
| 11 Apr 2024 | Simactricals | Cleantech | Hyperlocal Services | B2C-B2B | $90k | Pre-Seed | SanchiConnect | SanchiConnect |
| 16 Apr 2024 | IWill | Healthtech | Telemedicine | B2C | – | – | Microsoft | Microsoft |
| 15 Apr 2024 | TraqCheck | Enterprisetech | Horizontal SaaS | B2B | – | – | Caret Capital, Culture Cap | – |
| 15 Apr 2024 | Advance Mobility | Logistics | Supply Chain | B2B | – | – | GrowthCap Ventures | GrowthCap Ventures |
| 10 Apr 2024 | Blue Tokai Coffee Roasters | Ecommerce | D2C | B2C | – | – | 12 Flags Group | 12 Flags Group |
| 18 Apr 2024 | Svish | Ecommerce | D2C | B2C | – | – | Ruchirans Jaipuria, Shikhar Dhawan | Ruchirans Jaipuria, Shikhar Dhawan |
| 16 Apr 2024 | EMotarad | Ecommerce | D2C | B2C | – | – | MS Dhoni | – |
| 9 Apr 2024 | BlackCarrot | Ecommerce | D2C | B2C | – | – | Neha Dhopia | Neha Dhopia |
| 17 Apr 2024 | Almonds Ai | Enterprisetech | Horizontal SaaS | B2B | – | – | – | – |
| Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included |
||||||||
Key Startup Funding Highlights Of The Week
- While we saw a mega deal last week, with iBUS’ securing $200 Mn funding from NIIF, there were no mega deals this week.
- Cleantech startup GPS Renewables secured a $50 Mn debt round on April 16, marking the largest fundraise of the week.
- At a sectoral level, fintech hogged the limelight this week, as startups in the space cumulatively raised $74.8 Mn across 5 deals. Total funding for fintech startups stood at $16 Mn last week across two deals.
- Last week’s leader enterprisetech slipped to the fifth spot with startup’s cumulatively raising $14.95 Mn. However, the sector saw the highest number of six deals this week.
- VC firms Chiratae Ventures, Rebright Partners, Blume Ventures and Z3Partners were the most active investors this week, backing two startups each.
- Seed funding slightly picked up this week to $26.2 Mn, a 17% increase from $21.6 Mn from last week.
