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Funding and acquisitions in Indian startups this week [28 Aug-02 Sep]

EntrackrEntrackr · 1y ago
Funding and acquisitions in Indian startups this week [28 Aug-02 Sep]
Medial

During this week, 13 Indian startups secured approximately $52 million in funding, with MediBuddy and SatSure leading the way with $18 million and $15 million respectively. In comparison, the previous week witnessed 19 Indian startups amassing a total of around $233 million in funding, with one startup's details undisclosed. Among the 13 rounds this week, only MediBuddy, a growth stage startup, raised $18 million, while the remaining 12 were early-stage startups. Bengaluru-based startups dominated the funding scene, accounting for $41 million or 78.68% of the total funding, followed by Delhi NCR and Hyderabad-based startups. Fintech startups secured the most deals, followed by logistics and healthtech. Additionally, four companies, namely CoinSwitch, Kenko Health, Omuni, and Khatabook, announced employee layoffs during this week, and TripCrafters merged with Holidify.

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Funding and acquisitions in Indian startup this week [26 - 31 Aug]

EntrackrEntrackr · 10m ago
Funding and acquisitions in Indian startup this week [26 - 31 Aug]
Medial

During the week, 31 Indian startups raised around $490.32 million in funding. These deals count 7 growth-stage deals and 19 early-stage deals while 5 startups kept their transaction details undisclosed. During the previous week, 21 early and growth-stage startups cumulatively raised $144.46 million in funding. [Growth-stage deals] Among the growth-stage deals, 7 startups raised $443.8 million in funding this week. Quick commerce brand Zepto spearheaded with a $340 million Series F round. Specialty coffee retailer Blue Tokai Coffee raised $35 million followed by lending firm Yubi, agri-inputs platform AGRIM, post-sales service firm Servify, beauty and personal care D2C firm Pilgrim, and Robotics startup Miko with $30 million, $17.3 million, $10 million, $9 million, and $2.5 million in funding, respectively. Swiggy also raised undisclosed funding this week from Amitabh Bachchan’s Family Office. [Early-stage deals] Further, 19 early-stage startups secured funding worth $46.52 million during the week. Full stack marketplace for resale home HouseEazy led the list followed by conversation intelligence platform Convin, energy storage solutions startup Clean Electric, fintech firm Finarkein Analytics, and edtech startup Kreedo among others. As many as 4 startups that did not disclose the funding amount raised are; Metaman, Better Nutrition (Greenday), BiUP Technologies, and OneMoney. 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 8 deals followed by Mumbai, Delhi-NCR, Pune, Hyderabad, Chennai, Dehradun, Jodhpur, and Lucknow. Segment-wise, E-commerce and Fintech startups are in the top spot with 6 deals each. SaaS, Edtech, Foodtech, Healthtech, Proptech, and Agritech startups followed this list among others. [Series-wise deals] During the week, Seed funding deals are on top with 11 deals followed by 6 Series A, 4 pre-Series A, 3 Series C, 2 Series B, 2 pre-Seed, and 1 Series F deal. [Week-on-week funding trend] On a weekly basis, startup funding tripled and went up 239.42% to $490.32 million as compared to around $144.46 million raised during the previous week. The average funding in the last eight weeks stands at around $254.80 million with 26 deals per week. [Fund launches] Two new funds launched this week to support startups in India. Velocity, a cash flow-based financing platform, has introduced a Rs 400 crore fund to assist D2C and e-commerce brands during the upcoming festive season sales. Meanwhile, Whiteboard Capital, a sector-agnostic early-stage venture capital firm, has successfully closed its second fund at Rs 300 crore. [Key hirings] Sumer Juneja, formerly with Softbank, has joined OYO as a non-executive director. Swiggy Instamart onboarded former Flipkart executive Amitesh Jha as CEO, Medikabazaar appointed Dinesh Lodha as the Group CEO, Sukoon Health onboarded Dr. Vipul Rastogi as Clinical Regional Head, and 3i Infotech hired Raj Ahuja as CEO. Evera and Zalon appointed Saurabh Kumar and Abhiishekk Rakj Pandey respectively as their Independent Director and Co-founder and CEO. [Mergers and Acquisitions] Several significant acquisitions have taken place this week in the Indian tech industry. VerSe Innovation, the parent company of Dailyhunt and Josh, has acquired Valueleaf Group, a digital marketing firm. In the SaaS space, Browserstack has acquired Bird Eats Bug, a bug detection and reporting platform, for $20 million. ANSR, a business consulting company, has acquired hrEntries, an HCM platform, to strengthen its global team management capabilities. Yudiz Solutions, a listed blockchain and IT development company has acquired a majority stake in ABCM App Private Limited, a consultancy and technology solutions company. In the FMCG sector, GRM Overseas has acquired a 44% stake in Rage Coffee, a D2C food and beverage brand. [Shutdown] Two significant shutdowns have occurred this week in the Indian tech industry. My Tirth India, a spiritual tech startup, has announced its closure due to a funding crisis. This is surprising given the growing popularity of the spiritual tech sector. Meanwhile, Bharti Airtel has decided to discontinue its music streaming app, Wynk Music, although it will retain the employees involved. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] OPEN launches Bharat Billpay for business Zoho forays into payment space with the launch of a payment gateway BharatPe ventures into the consumer payments space CarDekho Group partners with SaaS platform BiUP Technologies [Potential Deals] Eruditus to raise $150 Mn at $2.3 Bn valuation [Financial results this week] Rebel Foods posts Rs 1,420 Cr revenue in FY24; losses down by 42% Square Yards posts Rs 261 Cr revenue in Q1 FY25; projects Rs 1,500 Cr in FY25 CaratLane crosses Rs 3,000 Cr revenue in FY24; remains profitable [News flash this week] Customer conversation platform Exotel suffers data breach BigBasket to completely pivot to quick commerce Amazon India to enter quick commerce D2C meat delivery startup Zappfresh files DRHP Ola Electric’s products to hit ONDC next week Infra.Market lined up 8 investment banks for its $700 Mn IPO: Report Moglix initiates next-day delivery to join the rapid delivery bandwagon [Conclusion] The weekly funding jumped over 3X to $490.32 million this week. Meanwhile, two startup-focused funds launched this week namely Velocity and Whiteboard Capital. Ola Electric’s co-founder, Bhavish Aggarwal, has announced that all of the company’s electric scooters, including the S1 X series, S1 Pro, and S1 Air, will be available on the Open Network for Digital Commerce (ONDC) starting next week. This move aims to expand Ola Electric’s market reach and make its products more accessible to consumers across India by leveraging ONDC’s infrastructure. Aggarwal has been a strong advocate for ONDC, comparing it to the revolutionary impact of UPI on digital payments. D2C meat delivery startup Zappfresh has filed its draft red herring prospectus (DRHP) for an IPO on the BSE SME platform. The IPO will consist solely of a fresh issue of 59.06 lakh equity shares and will not include any offer for sale. Zappfresh intends to utilize the proceeds from the IPO to fund potential acquisitions, marketing and capital expenditure, working capital requirements, and general corporate purposes. Several major e-commerce players are entering the quick delivery space in India to cater to the growing demand for faster delivery of goods, especially among small and medium-sized businesses. Moglix, a B2B platform, has launched a next-day delivery service for industrial goods, expanding its reach to 12 cities and aiming to expand further to 40 cities in the coming months. Amazon, Flipkart, and Tata Digital-owned BigBasket are also making significant moves in this market. Amazon plans to enter the quick commerce space in early 2025, while Flipkart and BigBasket have already launched their own quick delivery services.

Funding and acquisitions in Indian startup this week [09 - 14 Sep]

EntrackrEntrackr · 9m ago
Funding and acquisitions in Indian startup this week [09 - 14 Sep]
Medial

During the week, 24 Indian startups raised around $228.79 million in funding. These deals count 6 growth-stage deals and 13 early-stage deals while 5 startups kept their transaction details undisclosed. During the last week, 26 early and growth-stage startups cumulatively raised $421.29 million in funding. [Growth-stage deals] Among the growth-stage deals, 6 startups raised $182.65 million in funding this week. Mobile advertising network software InMobi spearheaded a $100 million debt funding round. MSMEs-focused fintech lender FlexiLoans raised $35 million followed by, employee healthcare platform Onsurity, spiritual tech startup AppsForBharat, consumer lending platform Moneyview, and HRtech platform HROne with $21 million, $18 million, $4.65 million, and $4 million in funding, respectively. Moneyview also joined the unicorn club following the fresh capital. One growth-stage startup that did not disclose the transaction details is Transcell Biologics. [Early-stage deals] Further, 13 early-stage startups secured funding worth $46.14 million during the week. Wealthtech startup Centricity led the list followed by D2C home decor and lifestyle brand Nestasia, AI reality intelligence platform Track3D, biotech-driven material R&D startup Dharaksha Ecosolutions, and sales outreach platform Futwork among others. As many as 4 startups that did not disclose the funding amount raised are; Trisu, Leezu’s, Fitday, and Agilitas Sports. 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 8 deals followed by Delhi-NCR, Mumbai, Hyderabad, and Kolkata. Segment-wise, E-commerce startups are on the top spot with 5 deals. Fintech, Healthtech, Cleantech, HRtech, Adtech, and AI startups followed this list among others. [Series-wise deals] During the week, seed funding deals are on top, with 9 deals followed by 4 Series A, 3 pre-seed, 2 pre-Series A, 2 Series B, 1 debt deal, and more. [Week-on-week funding trend] On a weekly basis, startup funding slipped 45.7% to $228.79 million as compared to around $421.29 million raised during the previous week. The average funding in the last eight weeks stands at around $331.70 million with 26 deals per week. [Fund launches] Three new funds launched this week to invest in startups. Playbook Partners has raised over $130 million for its growth capital fund. Proparco has invested $5 million in Omnivore’s third fund focused on agritech and climate sustainability. Arka Investment Advisory Services has launched its second alternative investment fund, focusing on real estate opportunities in India. [Key hirings and departures] Sudharshan Sharma, formerly with Google, joined CarDekho as a CBO for the auto business. Meanwhile, Cleartrip’s CBO Prahlad Krishnamurthi, and the CFOs of InCred (Vivek Bansal) and TAC Infosec (Vishal Jain) resigned from their respective companies. [Mergers and Acquisitions] Nazara Technologies, a prominent gaming company, made two major acquisitions. This includes a controlling stake in Moonshine Technology, the parent company of PokerBaazi, for a substantial sum of Rs 982 crore ($100 million) and a 15.86% stake in Stan, a blockchain-based e-sports fan engagement startup, for $2.2 million. GoKwik, an e-commerce enabler, acquired Return Prime, a global returns management app. Additionally, Moneyview, a digital lender, acquired Jify.co, an early salary/on-demand salary service provider. Yudiz Solutions, a listed blockchain and IT development startup expanded its offerings by acquiring a majority stake in ABCM App, a Mumbai-based digital payment solutions company. The acquisition was valued at Rs 6.14 crore. [Shutdown] InsurStaq.ai, a Delhi NCR-based startup developing generative AI solutions for the insurance industry, has shut down its operations. Despite a year of development and collaboration with insurance professionals, the company faced challenges that ultimately led to this decision. This news comes amidst a period of growth for the generative AI sector in India. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] IBV and FedTech unveil Indo-US launchpad to boost Indian startups D2C Insider launches Cohort-3 for early-stage D2C brands Zomato launches developer platform for PoS partners [Potential Deals] Slice set to raise over $35 Mn in funding via convertible debt Finova Capital to raise Rs 800 Cr funding Flipkart’s Super.money plans to raise external funds [Financial results this week] Virat Kohli-backed WROGN’s revenue dips 29% in FY24 Purplle hits Rs 700 Cr revenue in FY24, trims losses by 46% NPCI posts Rs 2,876 Cr revenue and Rs 1,134 Cr profits in FY24 [News flash this week] Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent Govt. exempts overseas startups from NCLT clearance for reverse flipping Kotak downgrades Nykaa to ‘Sell’, cuts fair value amid concerns Ather files DRHP to raise Rs 3,100 Cr via IPO; Hero MotoCorp won’t sell shares Swiggy to raise Rs 5,000 Cr via fresh issue, to file DRHP soon MobiKwik Xtra suspends ‘anytime withdrawals’; draws flak from users Aditya Birla Finance accuses BYJU’S resolution professional over alleged fraud Delhivery accuses Ecom Express of misinformation in DRHP Pravin Jadhav-led Dhan storms into top 10 stock broking apps Accel announces fourth cohort of the pre-seed investment program, Atoms Pixxel becomes the first Indian space startup to secure a NASA contract DroneAcharya share surges 20% on BSE, hits upper-circuit After Bengaluru, Flipkart Minutes goes live in Gurugram Ather Energy to manufacture electric motorcycle [Conclusion] The weekly funding shrank around 46% to $228.79 million this week. Meanwhile, three startup-focused funds launched this week namely Playbook Partners, Omnivore, and Arka. Peak XV, Stellaris Ventures, Sofina Ventures, and Fireside Ventures collectively sold shares worth Rs 1,600 crore in Honasa Consumer Limited, the parent company of MamaEarth. Kotak Institutional Equities downgraded Nykaa, a leading beauty and fashion e-commerce company, citing concerns about rising fulfillment costs and potential margin pressure. This highlights the challenges faced by e-commerce companies in maintaining profitability amidst increasing competition and operational complexities. Ather Energy, an electric two-wheeler firm, filed its DRHP for an IPO, marking the second such listing in the EV sector. Swiggy, a food delivery and quick commerce company, also planning to file the DRHP soon and is set to raise Rs 5,000 crore via a fresh issue. MobiKwik’s Xtra investors faced withdrawal issues due to changes in the withdrawal policy by its lending partner Lendbox. This was triggered by recent RBI regulations on P2P lending. MobiKwik clarified that withdrawals will be made on a monthly basis and assured customers of receiving their principal and interest.

Funding and acquisitions in Indian startup this week [12 - 17 Aug]

EntrackrEntrackr · 10m ago
Funding and acquisitions in Indian startup this week [12 - 17 Aug]
Medial

During the week, 25 Indian startups raised around $432 million in funding. These deals count 6 growth-stage deals and 16 early-stage deals while 3 early-stage startups kept their transaction details undisclosed. During the previous week, 28 early and growth-stage startups cumulatively raised $151.18 million in funding. [Growth-stage deals] Among the growth-stage deals, 6 startups raised $350 million in funding this week. Hospitality platform Oyo spearheaded its $175 million worth Series G round. Electric scooter manufacturer Ather Energy raised $71 million to join the unicorn club followed by wealth and asset management firm Neo, wealthtech startup Syfe, trade credit infrastructure platform Vayana, and payment gateway and point of sales (PoS) provider Innoviti with $48 million, $27 million, $20.5 million, and $8.5 million in funding, respectively. [Early-stage deals] Further, 16 early-stage startups secured funding worth $82.09 million during the week. Electric vehicle maker Kinetic Green led the list followed by Electric scooter manufacturer Fresh Bus, D2C home, kitchen, and personal care brand Beco, e-mobility startup Kazam, and Healthcare startup 4baseCare among others. As many as 3 startups that did not disclose the funding amount raised are; Adukale, CricHeroes, and Flam. 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, Pune, Chennai, Kochi, and Ahmedabad. Segment-wise, Fintech startups are in the top spot with 7 deals. E-commerce, EV, AutomotiveTech, Healthech, Proptech, and Food & beverages startups followed this list among others. [Series-wise deals] During the week, Seed funding deals are on top with 8 deals followed by 6 Series A, 2 pre-Series A, 2 Series B, and 2 Series G deals. Pre-seed, pre-Series B, Series C, Series D, and Series E deals are next on the list. [Week-on-week funding trend] On a weekly basis, startup funding jumped 186% to $432.09 million as compared to around $151.18 million raised during the previous week. The average funding in the last eight weeks stands at around $232.42 million with 26 deals per week. [Fund launches] Two startup-focused funds launched this week. 35North Ventures has successfully raised Rs 100 crore for its second AIF, focusing on early-stage investments. Simultaneously, Prudent Equity has launched a new PMS fund targeting stable returns through a value investing approach. [Key hirings and departures] Equivalent to 5 key hirings took place this week including Amrit Singh, Henrik Aslaksen, Balaji Prasanna by Lighthouse Canton, Akanksha Srivastava Byrnes by Vahdam India, and Vinod Dasari by Zetworks. While, Freshworks’ chief product officer, Srinivasagopalan Ramamurthy left the firm. [Mergers and Acquisitions] As many as 4 merger and acquisition deals were witnessed this week. Agritech firm Jai Kisan acquired Kushal Finnovation Capital, Veefin took over Nityo Tech, OYO acquired Checkmyguest, and Radio Mirchi’s parent ENIL purchased Gaana.com. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [In Talks] Zepto to raise $340 Mn a $5 Bn valuation [Financial results this week] Unpacking Oyo’s profitability and its financial position in FY24 True Balance’s profit zooms over 2X to Rs 138 Cr in FY24 Nykaa profits spike over 50% in Q1 FY25; invests Rs 265 Cr in Dot & Key Awfis posts Rs 257 Cr revenue in Q1 FY25, improves profits Ola Electric reports Rs 1,644 Cr revenue in Q1 FY25; losses fall 17% TBO reports Rs 418 Cr revenue and Rs 61 Cr profits in Q1 FY25 Yatra profits plunges 27% in Q1 FY25; revenue continues to fall EaseMyTrip posts Rs 152 Cr revenue and Rs 34 Cr profit in Q1 FY25 MapMyIndia posts Rs 35.8 Cr profits in Q1 FY25 [News flash this week] PhonePe and G-Pay dominate UPI volume in July; Navi sees 2X spike Ecom Express, ArisInfra, and Smartworks next to launch IPO, files DRHP To cut costs, Byju’s shuts half of tuition centers: Report Unicommerce and FirstCry’s IPOs list at 118% and 40% premium Shadowfax and OfBusiness are planning to launch an IPO soon RBI clamps down on P2P lending irregularities Paytm fined Rs 47.12 lakh for stamp duty non-payment [Conclusion] The weekly funding spiked 186% to $432.09 million this week. Meanwhile, two startup-focused funds launched this week namely Prudent Equity and 35 North. Edtech giant BYJU’S is undergoing significant cost-cutting measures as it faces financial challenges. The company is reportedly shutting down nearly half of its 250 tuition centers across India. This decision comes amidst delayed salary payments for employees and a broader financial crunch. After a muted listing of Ola Electric last week, Unicommerce and FirstCry listed with 118% and 40% premium this week. Meanwhile, Ecom Express, ArisInfra, and Smartworks have filed the DRHP with SEBI and are next to launch an IPO. Following the trend, Shadowfax and OfBusiness are also planning for public listing soon. Additionally, the Reserve Bank of India (RBI) has tightened regulations for Non-Banking Financial company peer-to-peer (NBFC-P2P) lending platforms to curb violations and enhance transparency. The new guidelines prohibit practices such as promoting P2P lending as an investment product, cross-selling insurance, and certain fund transfer mechanisms. Paytm has been issued a fine of Rs 47.12 lakh by the Office of Collector of Stamps, New Delhi, for non-payment of stamp duty on the allotment of equity shares in previous years. The fintech giant has stated that while there were delays in submitting some applications, all relevant documents were filed on time.

Funding and acquisitions in Indian startup this week [30 Sep - 05 Oct]

EntrackrEntrackr · 9m ago
Funding and acquisitions in Indian startup this week [30 Sep - 05 Oct]
Medial

During the week, 21 Indian startups raised around $92.63 million in funding. These deals count 4 growth-stage deals and 12 early-stage deals while 5 startups kept their transaction details undisclosed. Last week, 29 early and growth-stage startups cumulatively raised over $461 million in funding. [Growth-stage deals] Among the growth-stage deals, 4 startups raised $33.58 million in funding this week. Agriculture supply chain firm Waycool spearheaded a $12 million debt funding round. Fintech startup Basic Home Loan raised $10.6 million followed by D2C millet-based snack brand Troo Good and lending startup True Balance with $8.6 million and $2.38 million in funding, respectively. [Early-stage deals] Further, 12 early-stage startups secured funding worth $59.05 million during the week. Chemical manufacturing platform Mstack led the list followed by sports tech platform Str8bat, furniture retailer Furnishka, mental health startup LISSUN, and tech-enabled EV mobility platform ZEVO among others. Meanwhile, Digilogic Systems India (DSPL), Aikenist, SanchiConnect, Garuda Aerospace, and Sugar.fit also raked in funding but did not disclose the transaction details. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru and Delhi-NCR-based startups co-led with 7 deals each followed by Mumbai, Hyderabad, and Chennai. Segment-wise, Healthtech startups are on the top spot with 5 deals. E-commerce, Fintech, Aerospace, Agritech, Chemicals, and Dronetech startups followed the list among others. [Series-wise deals] During the week, seed funding deals are on top, with 7 deals followed by 5 pre-Series A, 5 Series A, 2 Debt, and 2 Series B deals. [Week-on-week funding trend] On a weekly basis, startup funding dwindled 80% to $92.63 million as compared to around $461 million raised during the previous week. The average funding in the last eight weeks stands at around $395.36 million with 27 deals per week. [Fund launches] Singapore-based angel investment network, ThinKuvate has announced the first close of its India fund at Rs 25 crore. While Venture capital firm Trillion Dollar Ventures (TDV) launched its second fund with a total corpus of Rs 50 crore, doubling its corpus size from the first fund. The new fund aims to support early-stage tech startups in India. [Key hirings and departures] The startup ecosystem witnessed eight notable key hirings this week. Vishal Mehta joined Rediff.com as a Chairman and MD, MediBuddy hired Nijil George, Ferns N Petals onboarded Gaurav Sharma, and Secret Alchemist welcomed Samantha Prabhu, among others. Meanwhile, Indifi’s Co-founder Siddharth Mahanot and OLA Electric’s Secretary and compliance officer resigned. [Mergers and Acquisitions] This week, four notable acquisitions took place in the Indian startup ecosystem. Adda247 acquired PrepInsta, Pluckk purchased Upnourish, Capital IQ took over Karman Drones, and UST acquired Information Services Group’s automation unit. [Shutdown] Agritech startup Greenikk is shutting down operations due to funding challenges and adverse market conditions. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches and partnerships] Uber partners with Shadowfax to integrate two-wheeler fleet Swiggy launches 10-min food delivery service ‘Bolt’ PhonePe partners with Jar to offer daily savings in digital gold [Potential Deals] InCred Capital to raise $50 Mn led by family offices Semiconductor startup FermionIC Design to raise $6 Mn [Financial results this week] CRED nears Rs 2,500 Cr revenue in FY24; cuts operating losses by 41% D2C brand Minimalist posts Rs 350 Cr revenue in FY24, doubles profit Classplus revenue spikes 2X to Rs 260 Cr in FY24; cuts losses by 57% 10-year-old Josh Talks posts Rs 19 Cr revenue in FY24, cuts losses by 25% Navi’s FY24 operating profit falls 50% as loan write-offs surpass Rs 400 Cr Groww’s stock broking unit posts Rs 2,900 Cr revenue and Rs 298 Cr profit in FY24 [News flash this week] Upstox delivers 10x return to Ratan Tata following buyback Ola Electric’s two-wheeler market share falls to 27% in September UPI sets new record with more than 15 Bn transactions in Sept Titan Capital launches Indicorns index showcasing profitable startups BharatPe announces settlement with Ashneer Grover Invesco marks up Swiggy’s valuation to $13.3 Bn Mamaearth parent Honasa to appeal Dubai court ruling Peak XV Partners reduces fund size and fees Co-working space provider DevX to go public; files DRHP Swiggy gets the nod to increase IPO fresh issue size to Rs 5,000 Cr CarDekho planning a $500 Mn IPO next year Blackstone targets $10 Bn for India-focused New Asia Fund Good Capital Co-founder Rohan Malhotra passes away [Conclusion] After a healthy funding inflow in the past few weeks, the weekly funding slipped around 80% to $92.63 million this week, the lowest in the last 35 weeks. During 29 January to 3 February, the weekly funding shrank to $84.5 million. The week also saw two startup-focused fund launches namely ThinKuvate and Trillion Dollar Ventures. Honasa Consumer, the parent company of Mamaearth, is facing ongoing legal challenges in Dubai. A Dubai court has upheld a previous order to attach the company’s assets. Honasa has filed an appeal against this decision and continues to dispute claims made by its former distributor, RSM General Trading. Swiggy has received approval from its shareholders to increase the size of its IPO fresh issue from Rs 3,750 crore to Rs 5,000 crore. This will allow the foodtech company to raise a total of $1.4 billion through the IPO, at a likely valuation of $15 billion. Swiggy has also introduced a new 10-minute food delivery service called Bolt. The service focuses on delivering quick-to-prepare meals from selected restaurants within a 2-kilometer radius. Bolt is currently available in major cities in India and plans to expand further. Swiggy’s rival, Zomato, previously discontinued its 10-minute food delivery service. Venture capital firm Peak XV Partners has reduced the size of its $2.85 billion fund by 16%. The firm has also lowered management fees and carry on growth investments. Despite these changes, Peak XV remains optimistic about the Indian and Southeast Asian markets and expects strong performance from its portfolio. Blackstone, a leading private equity firm, is raising a new Asia-focused fund with a target of at least $10 billion. India will be the primary focus of the fund, with significant allocations also planned for Japan and Australia. The firm is currently marketing the fund and aims to close the first round of fundraising in January 2025.

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