Post on Medial

Summary of the Week: 1. Fundings: Indian startups cumulatively raised $260.1 Mn from 31 deals between April 15-20: - An uptick in the investment activity across the ecosystem. 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. - Fintech took the leader spot this week with startups in the sector cumulatively raising $74.8 across 5 deals. - Cleantech startup GPS Renewables secured a $50 Mn debt round on April 16, marking the largest fundraise of the week. - Seed funding slightly picked up this week to $26.2 Mn, a 17% increase from $21.6 Mn from last week. - The list of early-stage startups also includes nine startups that kept the funding amount undisclosed: IWill, TraqCheck, Svish, Advance Mobility, IndoSup, Almonds Ai, 100KMPH, Payinstacard, and BlackCarrot. -Further, consumer lending app RING, ESG and accounting and reporting consultation provider Uniqus Consultech, education-focussed NBFC Varthana, QSR chain Wow! Momo, and provider of decentralized solar-hybrid mini-grids Husk Power Systems. Electric cycle maker EMotorad also secured undisclosed funding this 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. 2. Acquisitions: - Marking its fourth acquisition in the gaming space after Calling Station, Spartan Poker and BatBall11, OneVerse Gaming bought online poker platform PokerSaint. - News aggregator DailyHunt’s parent VerSe Innovation acquired digital newsstand platform Magzter. With the acquisition, VerSe launched DailyHunt Premium, a subscription-based service that will grant users access to premium content. - Aurionpro Solutions is set to acquire a 67% stake in banking and insurance focused PaaS startup Arya.ai in a deal valued at $16.5 Mn 3. Other Major Developments: - With its sights set on becoming India’s 116th unicorn, proptech startup Square Yards is in talks with investors to raise $120 Mn at a valuation of over $1 Bn - Affiliate marketing startup Flickstree is in talks with new and existing investors to raise $10 Mn-$12 Mn in its Series B round. It plans to use fresh funds to expand its presence beyond India. - Ecommerce unicorn Meesho is looking to raise $500-$650 Mn from investors at a valuation of $3.9 Bn. This will potentially peg the startup 20% lower than its last reported valuation of $4.9 Bn. - Electric vehicle (EV) manufacturer Bounce Infinity is in talks with new as well as existing investors Peak XV Partners, Accel Partners, and Falcon Edge to raise a funding round of up to $40 Mn within the next three months.