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Top News of the Week 1. Funding: - The week saw the first mega funding deal materialise for an Indian startup in the form of healthtech unicorn Innovaccer’s $275 Mn Series F fundraise. - On the back of this, healthtech emerged as the most funded startup sector this week. Besides Innovaccer, BrainSinghtAI and Zoplar also raised $5 Mn and $3.4 Mn this week. - Fintech, cleantech and ecommerce all saw three funding deals materialise this week, leading to fresh capital infusion of $48.9 Mn, $14.2 Mn and $13.3 Mn respectively. - After months of speculations, Ritesh Agarwal increased his stake in his startup OYO with a capital infusion of $65 Mn via his venture capital firm Redsprig Innovation Partners. This funding round made travel tech the second most funded sector this week. - This week’s most active investor was VC firm Alteria Capital, investing in BrainSightAI’s $5 Mn pre-Series A funding round and Pratilipi’s $1.2 Mn funding round. - Seed stage funding zoomed this week to $2.6 Mn, up 225% from the $787K raised by startups at this stage last week. Funds Launches This Week - NBFC Avendus launched its third private credit fund with a target corpus of up to INR 4,000 Cr through its asset management arm Avendus PE Investment Advisors. - Andhra Pradesh chief minister N Chandrababu Naidu launched an Angel fund, ‘Telugu Angels’, dedicated to the state’s entrepreneurs’ bid to scale globally. 2. Developments of the Week: - Eyewear major Lenskart is said to have initiated talks with bankers for a $1 Bn IPO that could value it in the range of $7 Bn to $8 Bn. Its IPO could hit the Indian bourses toward the end of the next financial year. - Reserve Bank Innovation Hub (RBIH) in partnership with IIMA Ventures have jointly launched the third cohort of women-focused fintech programme to benefit female entrepreneurs in the country. - EV startup Zypp is looking to raise $35 Mn from investors like Nuvama Private Wealth and other Southeast Asia-based funds. - Early-growth technology investor Z3Partners bought a stake worth $8.2 Mn in SaaS startup Mintoak from its early backers HDFC Bank and Pravega Ventures. - National Association of Software and Services Companies (NASSCOM) has suggested setting up an INR 10,000 Cr fund for early-stage deeptech startups. - BluSmart will be raising $50 Mn in its Series B funding round at a pre-money valuation of $335 Mn from some of its existing investors including responsAbility Investments AG, Sumant Sinha, MS Dhoni Family Office, among others. - LEAP India has acquired logistics company CHEP India for an undisclosed amount to solidify its supply chain footprint in the country. Beauty and skincare startup WOW Skin Science is said to be on the lookout for a buyer at a reduced valuation of $250 Mn. - Early-stage VC South Park Commons (SPC) is planning to raise $40 Mn for its India-focused fund over the six months after it entered the South Asian market. - B2B manufacturing and supply chain enablement startup Groyyo is in talks to raise about $40 Mn, primarily in equity, from Tiger Global and other investors at a valuation of about $200 Mn. - D2C startup The Whole Truth Foods is in talks to raise around $25 Mn in its Series C funding round at a valuation of $240 Mn from investors Peak XV Partners, Accel Partners, Matrix Partners, Sauce.VC. Stay Updated. Stay Informed. Stay Ahead. Share the Medial App with your network, colleagues, and friends. Let's brainstorm, discuss together and help each other achieve our goals. And don't forget to rate us on the iOS App Store and Google Play Store to help us reach even more amazing people like you.