Indian Startup Weekly Funding Report – July 01 – July 6, 2024
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
|---|---|---|---|---|---|---|---|---|
| 1 Jul 2024 | Purplle | Ecommerce | D2C | B2C | $120 Mn | – | ADIA | ADIA |
| 3 Jul 2024 | Matter | Cleantech | Electric Vehicle | B2C | $25 Mn | Series B | Helena, Japan Airlines & Translink Innovation Fund, Capital 2B, SB Invest | Helena |
| 2 Jul 2024 | Watch Your Health | Healthtech | Healthcare SaaS | B2B | $5 Mn | Series A | Cornerstone Ventures, Conquest Global | – |
| 3 Jul 2024 | Dice | Fintech | Fintech SaaS | B2B | $5 Mn | – | Dallas Venture Capital, GVFL | Dallas Venture Capital |
| 2 Jul 2024 | Comet | Ecommerce | B2C Ecommerce | B2C | $5 Mn | Series A | Elevation Capital, Nexus Venture Partners | – |
| 1 Jul 2024 | Pepul | Media & Entertainment | Social Media & Chat | B2C | $4 Mn | pre-Series A | – | – |
| 3 Jul 2024 | Bike Bazaar | Ecommerce | B2C Ecommerce | B2C | $3 Mn | – | MAS Financial | MAS Financial |
| 1 Jul 2024 | Wify | Consumer Services | Hyperlocal Services | B2C | $3 Mn | pre-Series A | Mount Judi Ventures, Capria Ventures | Mount Judi Ventures, Capria Ventures |
| 5 Jul 2024 | Lobb | Logistics | Freight | B2B | $2.9 Mn | pre-Series A | Rajesh Voddiraju, Sharada Nandakumar, Shyama Raju | – |
| 2 Jul 2024 | Fabriclore | Ecommerce | B2B Ecommerce | B2B | $1.6 Mn | Seed | PeerCapital, Regal Group, Fluid Ventures, Matrix Partners India, DeVC, Bulleon Ventures | PeerCapital, Regal Group |
| 1 Jul 2024 | Cautio | Healthtech | Healthcare SaaS | B2B | $778K | pre-Seed | Antler, 8i Ventures, AU Small Finance Bank, Rahul Mathur, Shan MS, Pranjal Kalra | Antler, 8i Ventures, AU Small Finance Bank |
| 3 Jul 2024 | EleFant | Media & Entertainment | Digital Media | B2C | $750K | Seed | Venture Catalysts, Malpani Ventures, Dr. Sudhakar Pai, Jyothi Pradhan, Agre Global FZE, Growth Sense, IVY Growth, Serious One Capital, Jignesh Mehta | Venture Catalysts, Malpani Ventures |
| 3 Jul 2024 | flutrr | Media & Entertainment | Social Media & Chat | B2C | – | – | Huma Qureshi | Huma Qureshi |
| 2 Jul 2024 | Supply6 | Ecommerce | D2C | B2C | – | – | AB de Villiers | AB de Villiers |
| 1 Jul 2024 | Pivot Robots | Deeptech | Robotics Process Automation (RPA) | B2B | – | – | NuVentures | NuVentures |
| 3 Jul 2024 | Hoop | Ecommerce | D2C | B2C | – | – | PV Sindhu | PV Sindhu |
- Purplle (1 Jul 2024): Ecommerce D2C startup raised $120 Mn from ADIA.
- Matter (3 Jul 2024): Cleantech electric vehicle company secured $25 Mn in Series B, led by Helena.
- Watch Your Health (2 Jul 2024): Healthtech Healthcare SaaS firm received $5 Mn in Series A from Cornerstone Ventures and Conquest Global.
- Dice (3 Jul 2024): Fintech SaaS startup obtained $5 Mn from Dallas Venture Capital and GVFL.
- Comet (2 Jul 2024): Ecommerce B2C platform raised $5 Mn in Series A from Elevation Capital and Nexus Venture Partners.
- Pepul (1 Jul 2024): Social media & chat platform raised $4 Mn in pre-Series A.
- Bike Bazaar (3 Jul 2024): Ecommerce B2C company secured $3 Mn from MAS Financial.
- Wify (1 Jul 2024): Hyperlocal services provider raised $3 Mn in pre-Series A from Mount Judi Ventures and Capria Ventures.
- Lobb (5 Jul 2024): Logistics freight company raised $2.9 Mn in pre-Series A from multiple investors.
- Fabriclore (2 Jul 2024): B2B ecommerce platform raised $1.6 Mn in Seed round led by PeerCapital and Regal Group.
- Cautio (1 Jul 2024): Healthtech Healthcare SaaS firm secured $778K in pre-Seed from Antler and others.
- EleFant (3 Jul 2024): Digital media startup raised $750K in Seed round led by Venture Catalysts and Malpani Ventures.
- flutrr (3 Jul 2024): Social media & chat platform backed by Huma Qureshi.
- Supply6 (2 Jul 2024): D2C ecommerce startup supported by AB de Villiers.
- Pivot Robots (1 Jul 2024): Robotics Process Automation company backed by NuVentures.
- Hoop (3 Jul 2024): D2C ecommerce startup supported by PV Sindhu.
Indian Startup Weekly Funding Report – May 27 – May 31, 2024
As the week draws to a close, the Indian startup ecosystem has witnessed a flurry of funding activities, reflecting the resilience and dynamism of the entrepreneurial landscape. From innovative InsurTech solutions to futuristic drone logistics, here’s a recap of the notable funding rounds that transpired from May 27 to May 31, 2024.
May 31, 2024:
- Scaler Invests Rs 50 Cr in Scaler School of Business: Scaler, an Indian education provider, has allocated Rs 50 crore to bolster its recently launched Scaler School of Business (SSB). This investment will fuel the development of offline infrastructure, curriculum enhancements, industry partnerships, and recruitment of renowned leaders as coaches, mentors, and instructors.
- Volt Money Partners with PhonePe for Loans Against Mutual Funds: Volt Money, a platform facilitating instant secured loans against mutual funds, has forged a partnership with PhonePe. This collaboration will grant PhonePe’s expansive user base convenient access to digital, low-interest loans against their mutual fund investments, embedding Volt Money’s seamless loan offerings into the PhonePe mobile app.
May 30, 2024:
- TechEagle Completes Bridge Round Funding: TechEagle, a drone-logistics startup specializing in on-demand delivery services, has successfully closed its bridge round funding. The investment, led by Navam Capital and Inflection Point Ventures (IPV), with participation from Paytm Founder Vijay Shekhar Sharma, will further enhance TechEagle’s innovative drone delivery solutions.
- Logistiex Secures $250,000 in Bridge Round: Logistiex, a new-age e-commerce startup, has raised $250,000 in a bridge round led by PACE Family Office and angel investors. The funding will support Logistiex’s mission to streamline e-commerce operations in India through its universal platform.
- Jaipur Watch Company Raises Rs 2 Crore: Jaipur Watch Company has secured Rs 2 crore in funding led by Lemon Funds and Dev Diamonds. This investment will facilitate the establishment of a specialized gold watch manufacturing unit and expansion of product lines.
- Gramiyaa Secures Rs 9.5 Crore Investment: Gramiyaa, a manufacturer of cold-pressed oils, has raised Rs 9.5 crore for expansion in both Indian and US markets. The funding, led by UAE’s Homegrown Ventures, reflects investor confidence in Gramiyaa’s online-first model and product quality.
May 29, 2024:
- EcoRatings Secures $1M Pre-Seed Funding: Sustainability AI company, EcoRatings, has secured $1 million in pre-seed funding from a consortium of investors. This funding will strengthen EcoRatings’ platform tailored for sustainability and accelerate its mission to assist organizations in meeting ESG goals.
- Nanosafe Raises Rs 3.13 Cr in Seed Funding Round: Nanosafe, a material science technology startup, has secured Rs 3.13 crore in seed funding. The investment will support Nanosafe’s expansion into new markets and fortify its market positioning with formulations leveraging active copper.
May 28, 2024:
- Solinas Raises Undisclosed Funding: Solinas, a startup focusing on water and sanitation solutions through robotics, has secured undisclosed funding. The investment will fuel Solinas’ efforts to address challenges in water and sanitation infrastructure resilience using AI and robotic technologies.
- Inspeq AI Raises Rs 9.1 Cr: Inspeq AI, a responsible AI development platform, has raised Rs 9.1 crore in a pre-Series A investment round. The funding will bolster Inspeq AI’s product development and expand its global operations.
- Gravity Raises $1M: Personalized banking platform Gravity has raised $1 million in a pre-Series A funding round. The investment will support Gravity’s mission to simplify the banking ecosystem and enhance efficiency for banks and individual users.
- Maxvolt Energy Raises $1.5M: Lithium battery manufacturer Maxvolt Energy has secured $1.5 million in funding. The company aims to develop fast-charging batteries for electric vehicles and energy storage systems.
- AbleCredit Secures Seed Funding: AbleCredit, an AI credit underwriting company, has closed a seed funding round of $1.25 million. The funding will enable AbleCredit to scale AI operations and revolutionize credit underwriting processes.
May 27, 2024:
- CoverSure Secures $4M in Pre-Series A Funding: CoverSure, an InsurTech startup, has closed a $4 million pre-Series A funding round led by Enam Holdings. The investment will fuel the development of CoverSure’s consumer-centric insurance engagement platform.
- CirclePe Raises $1M in Pre-Seed Funding: CirclePe, a property tech platform, has raised nearly $1 million in pre-seed funding led by OTP Ventures. The capital infusion will empower CirclePe to enhance its platform capabilities and solidify its position in urban rental solutions.
In conclusion, the week ending May 31, 2024, has been marked by diverse funding activities across various sectors, showcasing the vibrancy and innovation prevalent in the Indian startup ecosystem. These investments not only validate the potential of emerging startups but also pave the way for transformative solutions in key industries.
Indian Startup Weekly Funding Report – May 20 to May 25, 2024
The Indian startup ecosystem has been buzzing with activity, witnessing a significant surge in funding and strategic acquisitions during the week of May 20 to May 25. With 24 startups collectively raising approximately $444 million in funding, the landscape reflects a vibrant and dynamic environment ripe with innovation and investment opportunities.
Table summarizing the startups funded during the week, along with their investors, the amount raised:
| Startup | Investors | Amount Raised |
|---|---|---|
| Flipkart | $350 million | |
| Navi | Not disclosed | $18 million (debt) |
| Stanza Living | Not disclosed | Not disclosed |
| Save Solution | Not disclosed | Not disclosed |
| Dvara KGFS | BlueOrchard Microfinance Fund | $10 million (debt) |
| UnifyApps | Not disclosed | Not disclosed |
| Soleos Solar Energy | Not disclosed | Not disclosed |
| Varthana | Triodos Investment Management | Not disclosed |
| NoPo Nanotechnologies | Inflexor Ventures, Axilor Ventures’ Micelio Fund | $3 million |
| Mynvax | Inviga Healthcare Fund | Rs 21.63 crore |
| Foxy (EkAnek) | Lightspeed India Partners | Rs 21.6 crore |
| Portl | Bharat Innovation Fund | $3 million |
| ProsParity | BEENEXT, Sparrow Capital, All In Capital, DeVC, Huddle Ventures | $2 million |
| Superfoods Valley | Not disclosed | Rs 7 crore |
| Vaaree | Capier Investments, Peak XV’s Surge Ventures | Rs 20.78 crore |
| Finvolve | India Accelerator, Finolutions | Rs 100 crore |
| Fix My Curls | Amazon Smbhav Venture Fund | Not disclosed |
| Freshleaf | Inflection Point Ventures | INR 1 Crore |
| Collective Artists Network | Nikhil Kamath | Not disclosed |
| SuperKalam | Y Combinator, Fundersclub | $2 million |
| Humors Tech | Venture Catalysts | Rs 2 crore |
| Rare Rabbit | A91 Partners | Rs 500 crore |
| Stanza Living | Alpha Wave | Rs 110 crore |
| KonProz | Not disclosed | $700,000 |
Other Updates
| Key Points | Details |
|---|---|
| Funding Surge | Indian startups raised approximately $444 million in funding during the week of May 20 to May 25, marking an 85% surge compared to the previous week. |
| Growth-stage Deals | Flipkart led with a $350 million infusion from Google, followed by Navi, Stanza Living, Save Solution, and Dvara KGFS among the notable recipients. |
| Early-stage Deals | Notable recipients include UnifyApps, Soleos Solar Energy, Varthana, and NoPo Nanotechnologies, among others. |
| Regional Trends | Bengaluru witnessed the highest number of funding deals, followed by Delhi-NCR, Mumbai, Hyderabad, Ahmedabad, Ludhiana, and Chennai. |
| Segment-wise Trends | E-commerce and fintech sectors attracted the most investments, followed by healthtech, agritech, AI, biotech, and décor startups. |
| Series-wise Analysis | Seed funding deals dominated, followed by Series A deals, highlighting investors’ focus on early-stage startups. |
| Leadership Changes | Key appointments include Mathew George as CFO of Captain Fresh, Neelesh Talathi as CFO of CarDekho, and Anuj Rathi and Pratyusha Aggarwal as CEOs of ClearTrip and Flipkart’s Shopsy, respectively. Rahul Chaudhary resigned from his position at Matrix Partners. |
| Fund Launches | Notable fund launches included Arigato Capital by IVY Growth Associates, maiden angel funds by Finvolve, ThinKuvate India Fund – I, and Databricks AI Fund, aimed at supporting tech startups. |
| Overall Implication | The surge in funding, strategic acquisitions, leadership changes, and fund launches underscore the resilience and dynamism of India’s startup ecosystem, signaling a promising future for innovation and growth. |
