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Funding and acquisitions in Indian startups this week [06-11 May]
Entrackr
·
1y ago
Medial
During the week, 24 Indian startups raised around $320 million in funding. These deals include 7 growth-stage deals and 13 early-stage deals. Meanwhile, four early-stage startups did not disclose the amount raised. Last week, about 28 early and growth-stage startups collectively raised around $340 million in capital. [Growth-stage deals] Among the growth-stage deals, 7 startups raised $287 million in funding this week. Data and AI governance company Atlan led the list with $105 million followed by dialysis chain NephroPlus which scooped $102 million in capital. Shared electric mobility startup GreenCell Mobility, Provider of full stack education, content, and technology services K12 Techno Services, and lending firm Lendingkart are next on the list with $36.7 million, $27 million, and $10 million, respectively. Further, the list counts deeptech AI startup Myelin Foundry and an agritech firm focused on drone-based hyperspectral remote sensing BharatRohan. [Early-stage deals] Subsequently, 13 early-stage startups scooped funding worth $33 million during the week. Direct-from-farm produce supply chain startup Superplum spearheaded the list followed by a platform for wholesale buying and selling Poshn, log analytics startup Parseable, fodder ecosystem to support dairy cattle farmers, Cornext, and re-engineered tyre startup Regrip. Moreover, ICON, Atomgrid, Eternz, Knit, Select Brands, 50Fin, and Treacle also raised funding during the period. The list of early-stage startups also includes four startups that kept the funding amount undisclosed: GyanLive, QUE, trackNOW, and Food Square. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 9 deals followed by Delhi-NCR, Mumbai, Hyderabad, Ahmedabad, Gandhinagar, Indore, and Kolkata. Segment-wise, e-commerce and SaaS startups grabbed the top spot with four deals each followed by agritech startups. The list further counts AI, edtech, fintech, and foodtech startups among others. [Series-wise deals] During the week, Seed funding deals led the list with 11 deals followed by 3 Pre-Series A deals while debt, Pre-Seed, Pre-Series A, and Series F are next on the list among others. [Week-on-week funding trend] On a weekly basis, startup funding remained somewhat stable with a marginal 6.5% drop to $320 million as compared to around $341.5 million raised during the previous week. The average funding in the last eight weeks stands at around $249 million with 27 deals per week. [Key hirings and departure] Bhavesh Gupta, the chief operating officer and president of Paytm, has resigned citing personal reasons, marking the fourth high-profile exit at the Paytm Group in the last month. Among key hirings, Ishan Preet Singh, Co-founder of the now-defunct edtech startup FrontRow, has returned to Lightspeed Venture Partners as an investor after taking a year-long career break following the closure of his previous venture. Fintech unicorn Slice appointed Kotak Mahindra Bank’s group president and chief risk officer Arvind Kathpalia as its chief risk advisor, shortly after receiving Competition Commission of India (CCI) approval for its merger with North East Small Finance Bank. Additionally, Adda247 appointed ex-NIIT president Bimaljeet Singh as CEO to lead its skilling and higher education verticals. [Fund launches] InCred Alternative Investments, the alternative asset management arm of InCred Capital, marked the first close of its inaugural private equity fund. Concurrently, Client Associates, a wealth management and investment banking firm, also announced the first close of its inaugural Category II alternative investment fund at Rs 300 crore or approximately $36 million. [Layoffs] Unacademy Group’s medical entrance test preparation platform, PrepLadder, laid off around 145 employees, approximately 25% of the startup’s total workforce of roughly 560 employees. Fintech startup Simpl also underwent a restructuring, resulting in the layoff of around 100 employees. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches] ▪️ Zomato launches real-time hyperlocal weather info network ▪️ Zeta rolled out a digital credit-as-a-service product for banks [Financial results this week] ▪️ Urban Company turns profitable with Rs 7 Cr PBT in April ▪️ Gramophone posts Rs 316 Cr gross revenue and Rs 58 Cr loss in FY23 ▪️ WoodenStreet revenue nears Rs 200 Cr in FY23; remains profitable ▪️ Tiger Global-backed GOAT Brand Labs scales over 8X in FY23 ▪️ FreshToHome earns Rs 25 Cr net commission from India in FY23 ▪ Magicpin scales up over 83% in FY23; controls losses [News flash this week] ▪️ Groww moves domicile to India from the US ▪️ Digit Insurance to open IPO on May 15 with reduced size ▪️ PhonePe dominates UPI ecosystem with 49% market share in April [Conclusion] The weekly funding remained stable with a marginal 6.5% drop to $320 million. The week saw two new fund launches by VC firms namely InCred and Client Associates. The week also witnessed two layoffs as PrepLadder and Simpl fired a part of their workforces. Zomato has introduced a new service called ‘Weather Union’ that offers hyperlocal real-time weather information including temperature, humidity, wind speed, and rainfall. Currently accessible in 45 cities, the service will expand to other Indian cities soon. The data is sourced from over 650 on-ground weather stations, installed at locations like Zomato employees’ premises. Interested individuals can also host these solar-powered weather stations by signing up on the company’s website. Full-stack financial services platform Groww has transitioned its domicile back to India from the US, following the footsteps of PhonePe, which also relocated its domicile to India from Singapore. This move aligns Groww with a trend seen among several fintech companies, including KreditBee, Pine Labs, Razorpay, Meesho, and Zepto, which have been working on reverse flips. In another development, Go Digit General Insurance announced that its IPO will be open for subscription from May 15 to May 17. The company’s IPO consists of a fresh issue of shares worth Rs 1,125 crore and an offer for sale (OFS) of 54,766,392 shares. It’s worth noting that the company has reduced its IPO size from the initial plan, which included a fresh issue worth Rs 1,250 crore and an OFS of 10.94 crore equity shares. Additionally, PhonePe has maintained its position as the leading player in the unified payments interface (UPI) ecosystem, holding a market share of nearly 49% in April 2024 for both P2M (person-to-merchant) and P2P (person-to-person) transactions.
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Inc42
·
1y ago
Medial
Indian startups raised a total of $121.8 million in funding across 21 deals during the week of May 13 to 18. This amount represents a 45% decrease compared to the previous week. Fintech startups dominated the funding trends, raising $33.1 million in three deals. However, seed funding continued to decline, with startups at this stage securing just $3.5 million during this week.
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From PharmEasy To Portea — Indian Startups Raised $316 Mn This Week
Inc42
·
1y ago
Medial
Indian startups raised a total of $316.4 million in funding across 23 deals in the first week of May, a significant increase from the previous week's $172.6 million raised across 21 deals. The biggest funding round of the week was a $216.2 million investment in digital pharmacy PharmEasy. Healthtech startups emerged as the most funded sector, raising $236.2 million in three deals. Ecommerce startups secured the highest number of deals, with five investments totaling $8.2 million. Seed funding, however, decreased by 64% to $12.3 million compared to the previous week. Several acquisitions were also announced, including Freshworks' acquisition of Device42 for $230 million.
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From Atlan To Lendingkart — Indian Startups Raised $220 Mn This Week
Inc42
·
1y ago
Medial
Indian startups raised a total of $220.2 million in funding across 21 deals between May 6 and 11. This marks a 30% decline from the previous week. Atlan, a data collaboration software provider, secured the largest funding round of the week with $105 million in a Series C round led by GIC and Meritech Capital. The funding trends were muted overall, with seed funding dropping by 32% to $8.4 million. Additionally, Hexaware Technologies acquired data consulting firm Softcrylic, and KKR announced its acquisition of medical devices company Healthium Medtech Ltd.
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Funding and acquisitions in Indian startups this week [15-20 Jan]
Entrackr
·
1y ago
Medial
This week, Indian startups raised a total of $178 million, with two growth-stage and 22 early-stage deals. The funding included investments in startups such as Wow! Momo, OneCard, International Battery Company, StockGro, and FinAGG. Bengaluru-based startups led the city-wise funding deals, followed by Delhi-NCR and Mumbai. Series A stage deals dominated the funding, with 10 deals, followed by pre-Series A, pre-seed, and seed stage deals. Four acquisitions also took place this week, including Cured by Innovaccer, Clientjoy by Synup, ZestMoney by DMI Group, and Kyndi by Qlik.
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From Battery Smart To Chalo — Indian Startups Raised $93 Mn This Week
Inc42
·
2m ago
Medial
In the final week of May, Indian startups experienced volatility in funding momentum, with 15 startups raising $92.9 million, a significant decline from the $231.7 million raised the previous week. Despite this slump, the Indian startup ecosystem saw a fresh capital infusion of $1.1 billion in May, over double the amount raised in April. The investment activity highlights the fluctuating nature of startup funding, reflecting both opportunities and challenges in the ecosystem.
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Funding and acquisitions in Indian startups this week [06-11 Nov]
Entrackr
·
1y ago
Medial
This week, Indian startups raised around $201 million in funding, with 25 deals in total. The funding witnessed a drop of over 12% compared to the previous week. The deals included growth-stage investments of $131.75 million and early-stage investments of $68.9 million. Some notable funding was raised by XpressBees, Zepto, Euler Motors, and GoMechanic. Bengaluru-based startups led in terms of the number of funding deals, while Delhi-NCR-based startups raised the highest amount. Additionally, there were acquisitions by Game Theory and Amagi, as well as several new product launches.
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Funding and acquisition in Indian startups last to last week [31 July-04 Aug]
Entrackr
·
2y ago
Medial
This week, 11 Indian startups raised funding of about $66 million. Vistaar Finance was the top fundraising startup that scooped up $50 million. Read the article by clicking on "View Source" button to know more-
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[Weekly funding roundup Aug 2-8] VC inflow sees sharp rise on larger deals
YourStory
·
22d ago
Medial
The first week of August saw a significant rise in venture capital (VC) funding for Indian startups, totaling $214 million from 27 deals, doubling the previous week's $105 million. This surge broke a four-week trend of stagnant funding and was driven by larger deals and transactions across various funding stages. Notable transactions included major investments in startups like The Sleep Company and RENÉE Cosmetics. Despite this increase, ongoing macroeconomic challenges may impact future trends.
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Deals Digest: Momentum falls marginally this week; M&A volume also lacklustre
VCCircle
·
1y ago
Medial
Private equity and venture capital dealmaking activity experienced a small decline in value this week, while volume almost doubled compared to the previous week. PE and VC investment fell below the $300 million mark after two consecutive weeks of higher amounts. Indian startups saw a significant increase in fundraising this week. Mergers and acquisitions also had a lackluster performance this week.
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Funding value down 74% this week as dismal run continues
Economic Times
·
1y ago
Medial
In a week marked by a funding drought for Indian technology startups, 16 deals were announced, amounting to $86 million in total. This represents an 11% decrease in volume and a 74% decrease in value compared to the previous week. The majority of the funding went to early-stage deals, accounting for $48.1 million of the total amount. The decline in funding indicates a shift towards a more cautious approach from investors, focusing on fundamental aspects of the companies.
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