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Indian Startup Funding – Indian Startups Raise $43 Million This Week

Posted on by darion

SUMMARY

Between July 22 and 27, Indian startups managed to raise a modest $43.1 million across 12 deals, down 365% from the $200 million raised across 25 deals in the previous week

Funding trends fell to their lowest level of the year last week

FAAD Capital was the most active investor this week, backing four agritech startups with over $121,000

Investment activity in the Indian startup ecosystem fell to its lowest level on a yearly basis during the fiscal week. Startups managed to raise a meager $43.1 million across 12 deals between July 22 and 27, down 365% from the $200 million raised across 25 deals in the previous week.

It is worth noting that financial terms were not disclosed for seven of the deals closed this week.

Funding galore: India startup funding of the week (July 22-27)

Date Name Sector Subsector Business model Funding round size Type of financing round Investors Main investor
July 22, 2024 Stable money Financial Technology Technology investments B2C $14.7 million Series A RTP Capital, Partner Matrix, Lightspeed Ventures RTP Capital
July 22, 2024 NeoGrowth Financial Technology Lending Technology B2B 11 million dollars Debt Symbiotic Group Symbiotic Group
July 22, 2024 Incuspaze Real Estate Technology Shared spaces B2B 8 million dollars – Opportunity Fund in India Opportunity Fund in India
July 25, 2024 Charcoal is Consumer Services Hyperlocal delivery B2C 5.3 million dollars – Girish Patel, Anil Singhvi, Ajinkya Firodia, Rajiv Jain Girish Patel
July 25, 2024 Nasher Miles E-commerce D2C B2C 4 million dollars – Narendra Rathi, Sulabh Arya, Mohit Goyal –
July 25, 2024 Devnagri Enterprise Technology SaaS horizontal B2B – before series A Inflection Point Ventures, Software Technology Parks in India Inflection Point Projects
July 24, 2024 Pneucons E-commerce B2B E-commerce B2B – – Tarun Mehta Tarun Mehta
July 24, 2024 Godaam Innovations Agrotechnics Market link B2B – – FAAD Capital FAAD Capital
July 24, 2024 VedaFit Food Agrotechnics Market link B2B-B2C – – FAAD Capital FAAD Capital
July 24, 2024 Aqin Biotechnology Agrotechnics Agricultural production resources B2B – – FAAD Capital FAAD Capital
July 24, 2024 Mkelly’s Biotechnology Agrotechnics Market link B2B-B2C – – FAAD Capital FAAD Capital
July 26, 2024 Mayhem Studios Media and entertainment Gambling B2C – – Lumikai Lumikai
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds are included

Startup financing highlights of the week

  • Despite a decline in overall funding, fintech emerged as an investor favorite this week. The week’s top two funding rounds, Stable Money’s $14.7 million Series A round and NeoGrowth’s $11 million debt, propelled fintech to the top of the sector list.
  • This week, FAAD Capital backed four agritech startups with over $121k in investments. The firm’s investment makes agritech the most deal-rich sector and FAAD the most active investor in the startup ecosystem.
  • There was no seed funding deal this week.

From Stable Money to Incuspaze – Indian Startups Raise $43 Million This WeekFrom Stable Money to Incuspaze – Indian Startups Raise $43 Million This Week

Other important events of the week

  • During her budget speech, Finance Minister Nirmala Sitharaman announced the creation of INR 1000 Cr Venture Capital (VC) FundShe said the government had increased its focus on the space economy and private sector-driven research and innovation on a commercial scale.
  • Packaged food startup Wingreens Farms is looking to acquire $4.3 million in debt from investors, including S Gupta Family Investments, Saket Agarwal, Reena Singhal, Sanjeev Agarwal
  • In a stock exchange filing, Nykaa, a leader in the e-commerce cosmetics industry, said that we want to collect 125 Cr INR (approximately USD 15 million) through Non-Convertible Debentures (NCDs) from an undisclosed foreign portfolio investor. Its board approved and authorized the issue of up to 12,500 NCDs of face value INR 1 lakh each to augment the amount.
  • Ad tech unicorn Glance, a mobile content provider owned by InMobi, is in advanced talks with existing investors including Google, raise $250 millionThe talks are expected to materialize in the coming weeks.
  • Former Defense Secretary Ajay Kumar headed a venture capital firm MountTech Growth Fund marked the first close of its Kavach fund at INR 250 Cr (approximately USD 29.9 Mn). The VC aims to achieve a total capital raised of INR 500 Cr for Kavach.
  • Electric mobility startup Kazam raises $5 million in a funding round led by Licious and Vertex Ventures. It plans to use the capital to fuel its growth and expansion plans.
  • Diagnostic platform owned by PharmEasy Thyrocare Technologies takes over Punjab-based pathology diagnostics company Polo Labs will expand its presence in northern India.
  • Leading electric vehicle manufacturer Ola Electric is considering a public listing as early as this year. first week of AugustIt plans to raise approximately USD 740 million through a combination of a new issue and an offering for sale.
  • Captain Fresh wants take over Polish food and beverage company Koral to expand its presence in the European market.