SUMMARY
Indian startups cumulatively raised $185.8 Mn throughout 21 offers, a 49% enhance from $125 Mn secured through 18 offers within the previous week
Lightspeed, Peak XV and Elevation Capital backed a number of startups this week
Enterprise tech sector noticed the very best variety of seven offers materialise this week through which startups raised $46.7 Mn within the week
Amid rumblings within the broader public markets in India, the startup ecosystem noticed an elevated investor curiosity. Between November 11 and 16, startups raised $185.8 Mn throughout 21 offers. This marks a 49% enhance from the $125 Mn raised by startups throughout 18 offers within the previous week.
Regardless of a bearish sentiment within the broader market, foodtech main Swiggy transitioned to turn into a publicly listed firm this week. Apart from, the approaching week will even see logistics unicorn BlackBuck making its public market debut.
Funding Galore: Indian Startup Funding Of The Previous Two Weeks [ Nov 11 – Nov 16 ]
| Date | Identify | Sector | Subsector | Enterprise Mannequin | Funding Spherical Dimension | Funding Spherical Kind | Traders | Lead Investor |
| 14 Nov 2024 | SarvaGram | Fintech | Lending Tech | B2B-B2C | $67 Mn | Sequence D | Peak XV Companions, Temasek, Elevar Fairness, TVS Capital, Elevation Capital | Peak XV Companions |
| 9 Nov 2024 | UnifyApps* | Enterprisetech | Horizontal SaaS | B2B | $20 Mn | Sequence A | ICONIQ Progress, Elevation Capital | ICONIQ Progress |
| 11 Nov 2024 | Bhanzu | Edtech | Okay-12 | B2C | $16.5 Mn | Sequence B | Epiq Capital, Z3Partners, Lightspeed Ventures, Eight Roads | Epiq Capital |
| 12 Nov 2024 | Wheelocity | Agritech | Market Linkage | B2B-B2C | $15 Mn | Sequence A | Lightspeed, Alteria Capital, Anicut Capital, Selvam VMS | Lightspeed |
| 14 Nov 2024 | The ePlane Firm | Cleantech | Electrical Autos | B2B | $14 Mn | Sequence B | Speciale Make investments, Antares Ventures, Micelio Mobility, Naval Ravikant, Java Capital, Samarthya Funding Advisor, Redstart, Anicut | Speciale Make investments, Antares Ventures |
| 11 Nov 2024 | Equal | Enterprisetech | Horizontal SaaS | B2B | $10 Mn | Sequence A | Prosus Ventures, Tomales Bay Capital, Keshav Reddy, Blume Ventures, DST International, Gruhas, Quona VC, Binny Bansal, Harsh Jain, Kunal Shah, Karan Adani | Prosus Ventures, Tomales Bay Capital, Keshav Reddy |
| 15 Nov 2024 | Vecmocon | Cleantech | Electrical Autos | B2B | $10 Mn | Sequence A | Ecosystem Integrity Fund, British Worldwide Funding, Blume Ventures | Ecosystem Integrity Fund |
| 13 Nov 2024 | Ennoventure | Enterprisetech | Horizontal SaaS | B2B | $8.9 Mn | Sequence A | Tanglin Enterprise Companions, Fenice Funding Group | Tanglin Enterprise Companions |
| 12 Nov 2024 | Ugaoo | Ecommerce | D2C | B2C | $5.6 Mn | Sequence A | V3 Ventures, DSG Shopper Companions, RPG Ventures | V3 Ventures |
| 12 Nov 2024 | Funstop Video games | Media & Leisure | Gaming | B2C | $5 Mn | Sequence A | 360 ONE Asset, InfoEdge Ventures | 360 ONE Asset |
| 13 Nov 2024 | Bitespeed | Enterprisetech | Vertical SaaS | B2B | $3.5 Mn | pre-Sequence A | Peak XV Accomplice, Whiteboard Capital, Gaurav Munjal, Aakash Anand, Dhruv Vohra | Peak XV Accomplice |
| 14 Nov 2024 | Athina AI | Enterprisetech | Horizontal SaaS | B2B | $3 Mn | Seed | Denis Yarats, Alex Ratner, Kleiner Perkins Scout Fund, Y Combinator | – |
| 14 Nov 2024 | Airbound | Deeptech | Dronetech | B2B | $1.7 Mn | Seed | Lightspeed, gradCapital | Lightspeed |
| 12 Nov 2024 | India IVF | Healthtech | Healthcare Companies | B2C | $1.3 Mn | pre-Sequence A | Tomorrow Capital | Tomorrow Capital |
| 13 Nov 2024 | Pikndel | Logistics | Ecommerce Logistics | B2B | $1 Mn | Seed | VC Grid, D2C Insider Angels, Breathe Capital, Enterprise Catalysts, Akash Gupta, Keshav Bhajanka, Sanjay Agarwal, Kanishka Sethia | VC Grid |
| 12 Nov 2024 | DesignX | Enterprisetech | Enterprise Companies | B2B | $1 Mn | pre-Sequence A | Piper Serica | Piper Serica |
| 12 Nov 2024 | StampMyVisa | Journey Tech | OTA | B2B | $782K | pre-Sequence A | Unicorn India Ventures | Unicorn India Ventures |
| 14 Nov 2024 | LegalKart | Shopper Companies | Hyperlocal Companies | B2C | $770K | – | IIM Udaipur Incubation Centre, Aevitas Capital, Shift Alt Cap | IIM Udaipur Incubation Centre |
| 12 Nov 2024 | Creanovation Applied sciences Personal Restricted | Edtech | Edtech SaaS | B2B | $592K | – | Physis Capital | Physis Capital |
| 14 Nov 2024 | Mushin Revolutionary Labs | Enterprisetech | Enterprise Companies | B2B | $250K | Seed | Inflection Level Ventures | Inflection Level Ventures |
| 14 Nov 2024 | Oneplay | Media & Leisure | Gaming | B2C | – | – | Akshat Rathee | Akshat Rathee |
| Supply: Inc42 *Included this week because it was skipped final week Notice: Solely disclosed funding rounds have been included |
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Key Startup Funding Highlights Of The Week
- Regardless of a windfall of funding at early phases, the Indian startup ecosystem noticed one deal materialise on the late stage degree. Fintech startup SarvaGram raised the most important cheque this week, bagging $67 Mn in its Sequence D spherical.
- Whereas SarvaGram’s fundraise solely took fintech to the highest of funding tendencies at a sectoral degree, enterprisetech noticed essentially the most variety of offers materialise this week. Startups within the sector raised $46.7 Mn throughout seven offers within the week.
- Probably the most energetic investor this week was Lightspeed, backing edtech Bhanzu, agritech Wheelocity and deeptech Airbound this week. Peak XV and Elevation Capital additionally backed two startups apiece.
- Seed funding remained flat within the week, rising 10% to $5.9 Mn from final week’s $5.4 Mn.
Fund Funds Launches Of The Week
- Enterprise capital (VC) agency Pavestone VC marked the ultimate shut of its Pavestone Know-how Fund at $97 Mn. It’s trying to again 8-10 development stage startups with a mean ticket measurement of $5-10 Mn.
- Sandiip Bhammer-led VC agency Inexperienced Frontier Capital launched its Inexperienced Frontier Capital India Local weather Alternatives Fund with a goal corpus of INR 1,500 Cr.
- Orios Enterprise Companions’ managing companions Anup Jain and Rajeev Suri launched VC agency BlueGreen Ventures with a $75 Mn fund. The agency will again early-stage and IPO sure startups.
Mergers & Acquisitions Of The Week
- Proptech startup purchased 11% stake of Mumbai-based actual property advisory Guardians for $12 Mn. It intends to extend its stakeholding to 50% within the coming three years.
- Unicommerce acquired 42.7% stake in Shipway for INR 68.4 Cr and plans on buying the remaining stake in Shipway inside a yr through a merger or inventory swap.
- Coimbatore based mostly SaaS startup Kovai.co introduced the acquisition of US based mostly Floik to boost its Document360 data administration platform.
- On-line journey aggregator EaseMyTrip’s board accredited the acquisition of 49% stake in Planet Schooling Australia for INR 39.20 Cr and a 50% stake in Jeewani Hospitality Personal Restricted for INR 100 Cr.
Updates On Indian Startup IPOs
- Swiggy made its public market debut on Tuesday ((November 13), with its shares itemizing at INR 420 on the NSE, a premium of practically 8% from its IPO concern value of INR 390 per share.
- Shortly after its portfolio firm Swiggy made a constructive market debut, its largest stakeholder Prosus stated that it’s exploring an IPO for PayU in India in 2025.
- Amid the continuing IPO increase, B2B market Zetworks is trying to get listed by 2025 in an IPO that can see it increase over $1 Bn.
- D2C electronics main bOAt has reportedly finalised ICICI Securities, Goldman Sachs and Nomura as bankers for its $300-$500 Mn IPO slated for subsequent yr.
- Forward of market shut on Friday, BlackBuck’s IPO noticed a muted subscription of 32% for its IPO. The problem will shut on November 18.
Different Developments Of The Weeks
- Reliance Shopper Product is buying D2C snacking startup TagZ Meals for INR 28 Cr ($3.5 Mn).
- Fintech unicorn Razorpay joined forces with Peak XV Companions and Lightspeed to launch a enterprise funding programme. With this, the trio will probably be trying to again early stage B2B startups throughout sectors.
- Sanjeev Bhikchandani-led Data Edge will probably be investing INR 4 Cr in its portfolio firm LegitQuest through its wholly owned subsidiary Startup Investments (Holdings) Ltd.
- Nazara Applied sciences and Nikhil Kamath’s WTFund will collectively make investments INR 2 Cr in two gaming startups, Norian Video games and Xigma Video games.
- Zomato plans to launch its INR 8,500 Cr certified institutional placement (QIP) in December, relying on market circumstances.