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Funding and acquisitions in Indian startup this week [02 - 07 Dec]

Entrackr · 7m ago

Medial

During the week, 30 Indian startups raised around $333.05 million in funding. These deals include 7 growth-stage deals and 20 early-stage deals while 3 startups kept their transaction details undisclosed. Last week, 18 early and growth-stage startups cumulatively raised around $54 million in funding. Among the growth-stage deals, 7 startups raised $224.76 million in funding this week. Housing finance provider Vastu Housing led with $100 million in funding. B2B supply chain financing firm Mintifi raised $80 million followed by EV manufacturer Ultraviolette ($15.3 million), diagnostics lab and healthcare platform Orange Health ($12 million), gaming firms Sportskeeda ($8.14 million), Nodwin Gaming ($7.55 million), and digital advertising solution provider Datawrkz with $1.77 million in funding. D2C kitchen appliances brand Byondnxt did not disclose the amount raised. Further, 20 early-stage startups secured funding worth $108.29 million during the week. Solar energy startup Glow led the list followed by AI-enabled customer feedback intelligence platform Enterpret, data company Pathway, dental essential focused marketplace DentalKart, and cleantech startup Hygenco. Meanwhile, Bumboo and SuperYou also raked in funding but did not disclose the transaction details. In terms of the city-wise number of funding deals, Mumbai and Bengaluru-based startups led with 10 deals each followed by Delhi-NCR, Chennai, and Mangalore. Segment-wise, E-commerce, Fintech, and Healthtech startups are on the top spot with 4 deals each. AI, Gaming, Environment Tech, and Networking and community startups followed the list among others. During the week, Series A funding deals led with 10 deals followed by Seed, Series B, Series E, and pre-Series A deals. On a weekly basis, startup funding jumped over 500% to $333.05 million as compared to around $54.43 million raised during the previous week. The average funding in the last eight weeks stands at around $287.90 million with 24 deals per week. This week only one startup-focused fund launched namely Abryo Capital. The fund will invest in companies across US and India. The startup ecosystem witnessed 5 notable hires this week. AiDash onboarded Neil Chatterjee on its Advisory board, EKA Mobility hired Sohel Merchant as the Chief Innovation Officer, Freshworks welcomed Srinivasan Raghavan as the CPO while Niyogin and ASK Asset also onboarded new COO and CEO, respectively. Additionally, Nihir Parikh resigned from Nykaa as CEO and Anindhya Ghose exited from Delhivery’s independent director chair. SaaS media firm Amagi announced the acquisition of Argoid AI while Uniphore purchased two firms, ActionIQ and Infoworks. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. BharatPe launches ‘Shield’ to protect users from online frauds. Flipkart to enter 10-minute medicine delivery market. Uber allows users to pre-book Shikara rides on Srinagar’s Dal Lake. The parent company of Chingari launches spiritual tech platform AstroLive. Captain Fresh looking to raise $100 Mn funding. Allen to acquire Unacademy at a valuation of $800 Mn. Apna Mart set to raise new round from Fundamentum and Accel. Bold Care to raise Rs 30 Cr in new funding round. BeepKart planning to raise Series B funding. Swiggy posts Rs 3,600 Cr revenue in Q2; Instamart contributes 13.6%. Allen nears Rs 3,500 Cr revenue in FY24, profit shrinks 44%. K12 Techno Services touches Rs 430 Cr revenue in FY24. Peak XV-backed Wakefit reports Rs 66 Cr EBITDA in FY24. HomeLane revenue remains flat in FY24; losses down by 30%. Mosambee touches Rs 240 Cr revenue in FY24; profit surges 87%. CarDekho Group FY24: used car biz’s revenue slips, InsuranceDekho shines. Shadowfax posts Rs 1,885 Cr revenue in FY24, turns EBITDA profitable. Grocery brand Apna Mart revenue jumps 86% in FY24. MobiKwik to raise Rs 572 Cr in IPO amid 70% valuation cut. Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr. Ecom Express and Smartworks receive SEBI nod for IPO. RBI expands UPI services, allows small finance banks to offer credit. Bhavish Aggarwal pledges Ola Electric shares for Krutrim’s debt. CCPA intensifies probe into Ola Electric. Razorpay, CRED, Swiggy among 30 startups in Startup Policy Forum. Varun Alagh purchases over 1.6 lakh shares of Mamearth since IPO. RBI lifts loan sanction ban on Sachin Bansal-led Navi Finserv. Info Edge files FIR against 4B Networks’ Rahul Yadav and others. CRED allows users to use coin for offline and online purchases. Fire at Shiprocket’s warehouse impacts over 60 brands. PhonePe ends ties with Juspay and other third-party routers. GST authorities crack down on crypto exchanges. Ola Electric to expand retail footprint to 4,000 stores. Paytm to sell stake in Japan’s PayPay to SoftBank: Report. On a weekly basis, startup funding bounced back over 500% to $333 million as compared to around $54 million raised during the previous week. The week saw only one startup-focused fund launch namely Abryo Capital. Around tech stocks, MobiKwik has filed its RHP with the SEBI to raise Rs 572 crore through a fresh issue of equity shares. Omnichannel jewellery retailer Bluestone appears close to filing a DRHP as it has received the board’s approval for an initial public offering worth Rs 1,000 crore ($120 million) through a mix of fresh issues and offers for sale. Meanwhile, Ecom Express and Smartworks have received SEBI's nod for the IPO. The Reserve Bank of India (RBI) has taken a significant step to boost financial inclusion by allowing small finance banks (SFBs) to offer pre-sanctioned credit lines through the Unified Payments Interface (UPI). This move is expected to benefit underserved segments like small businesses, micro-entrepreneurs, and individuals in rural and semi-urban areas. Indian tax authorities have initiated action against 17 cryptocurrency exchanges for alleged GST evasion amounting to Rs 824 crore. The investigations revealed significant tax evasion by Binance's subsidiary, Nest Services, and WazirX parent Zanmai Labs.