Funding in Indian startups this week (October 11-October 16)
This week, 39 Indian startups raised funds, of which 31 received a total of $ 902 million. CarDekho raised the highest funding of around $ 250 million, followed by Tala who raised $ 145 million.
Meanwhile, funding for eight of the total funded startups has not been disclosed.
Below is the summary of the transactions concluded this week
Growth / late start-ups (11 transactions)
CarDekho: Used car retailer CarDekho has raised $ 250 million in its latest Series E funding round, raising its valuation to $ 1.2 billion and making it the most recent entry into the Indian League of Unicorns .
Tala: Tala, a tech company that seeks to make financial services more accessible, said on Friday it had raised $ 145 million (Rs 1,088 crore) as part of its Series E funding round led by the platform – Upstart AI-based loan form.
Hubilo: Hubilo, the San Francisco-based virtual events platform with an office in Bangalore, has raised $ 125 million in a Series B funding round led by Alkeon Capital, with the participation of Lightspeed Venture Partners and Balderton Capital.
Open: Neo-banking startup Open raised $ 100 million in its Series C funding round. The cycle led by Temasek was joined by Google and SBI Investment and saw the participation of existing investors Tiger Global and 3one4 Capital. As Entrackr had already pointed out the $ 62 million in its September 11 edition we will include the rest $ 38 million in the total amount.
Zetwerk: Supplier of business-to-business (B2B) manufacturing solutions Zetwerk Manufacturing has closed a crore of Rs 500 or $ 66.5 million financing agreement with TradeCred.
Duroflex: Duroflex Pvt. Ltd., which sells mattresses under the Duroflex and Sleepyhead brands, raised $ 60 million in a funding round led by Norwest Venture Partners.
Fraazo: Fraazo, a Mumbai-based direct-to-consumer (D2C) brand in the fresh fruit and veg category raised $ 50 million in new funding round led by WestBridge Capital and existing funders Sixth Sense Ventures, Equanimity Investments, Apar Group, as well as major Indian family offices, including Manish Choksi of Asian Paints.
Fintech M2P: API infrastructure company M2P Fintech, formerly known as Yap, has secured $ 35 million Series C funding led by Tiger Global Management. Existing investors Beenext, Flourish Ventures, Omidyar Network India, 8i Ventures, Better Capital and the DMI Group through its Sparkle Fund investment vehicle also participated in the round.
Melorra: Melorra, a D2C jewelry brand, raised $ 24 million in a round led by 9Licorns, Symphony International Holdings Limited, Value Quest, Venture Catalysts, Param Capital and family offices.
Ather Energy: Electric scooter maker Ather Energy has raised Rs 130 crore or $ 17.2 million in debt from existing investor Hero MotoCorp. This is the first brew at the Bengaluru-based business this year.
Really cool: Agritech startup Waycool kicked off a new round as the company raised Rs 96 crore, or nearly $ 13 million in its Series D round. This is the second fundraiser for the Chennai-based company this year.
Start-stage (28 deals including 8 undisclosed)
ReshaMandi: A business-to-business marketplace for silk products, ReshaMandi has raised $ 30 million in its Series A funding round, led by Creation Investments.
Toch.ai: Toch.ai, an AI-powered SaaS platform, raised $ 11.75 million in its Series A funding round led by Moneta Ventures, Baring Private Equity India, Binny Bansal, Ventureast, 9Unicorns, Anthill Ventures, Cathexis Ventures, SOSV, Artesian and Innoven Capitale.
Health Visit: Docprime Technologies, a 100% subsidiary of PB Fintech – the parent company of PolicyBazaar and Paisabazaar, has invested approximately $ 7.5 million in the telehealth and wellness platform Visit Health.
Arrival: Arrivae, a custom furniture maker and home improvement company, raised around $ 7 million in an external round led by Rakesh Jhunjhunwala.
FloCareer: FloCareer, a business-to-business start-up focused on white and gray-collar job interviews, raised $ 5.7 million in a funding round led by Boston-based Data Point Capital. Uncorrelated Ventures and Orios Venture Partners have also joined the cycle.
Niro: Niro, a consumer finance fintech start-up, raised $ 3.5 million in its fundraising round led by Elevar Equity. Kunal Shah, Nitin Gupta, Bala Parthasarathy, the Patni Family Office, R. Ramaraj and Aseem Dhru also joined the tour.
Creative Galileo: The startup Edtech Creative Galileo has raised $ 2.5 million in its funding round led by Kalaari Capital with an investment of $ 2.1 million. Harish Bahl, Shashin Shah, Jinesh Patel, Atul Nishar, Ashwin Puri and Giridhar Malpani also joined the round and put in the remaining amount.
Arcane Network: Arcana Network, a blockchain startup, raised $ 2.3 million in a round led by Republic Crypto and Woodstock Fund.
AnKa SumMor: AnKa SumMor, a sales and distribution (S&D) activation platform, raised 11.6 crore rupees or $ 1.5 million in pre-Series A round led by Inflection Point Ventures (IPV).
Eh eh !: Celebrity Engagement Startup HeyHey! raised $ 1.5 million from Electric Capital, Vector Media and Yoshimoto Kogyo.
Leap.club: Leap.club, a community professional network for women, raised $ 810,000 or $ 0.8 million in its pre-series A round led by Enzia Ventures, Kunal Shah and its users. Existing backers Whiteboard Capital, Titan Capital and Artha India Ventures also participated.
Crater: Crater, an interactive media platform, announced on Tuesday that it had raised $ 700,000 or $ 0.7 million in seed financing from LC Nueva AIF, director of the TransContinental Venture Fund.
F5: F5, a D2C service brand, raised $ 664,000 or $ 0.66 million in its pre-Series A round led by Auxano Capital. Huddle, Lets Venture, Venture Catalyst and other investors also participated in the round.
SALT: SALT, a cross-border payments platform, raised $ 500,000 or $ 0.5 million in its pre-seed round from a group of angel investors such as Prashant Pansare, Amit Goel, Vishrut Bubna, Supermorpheus as well as founders of various startups such as IIMJOBS, Cashoverflow, Orange Health, Cloudnine hospitals and others.
Playto Laboratories: Playto Labs, an edtech startup, raised $ 531,000 or $ 0.53 million in its funding round led by Inflection Point Ventures (IPV).
Gain wealth: based on Pune Gain wealth, a social commerce fintech Start, has raised $ 500,000 or $ 0.5 million in equity as part of a pre-Series A funding round led by a few Pune-based angels at a valuation of Rs 50 crore, the company said.
Admitted abroad: ForeignAdmits, a data-driven educational platform, raised $ 457,000 or $ 0.45 million in its funding round led by Unicorn India Ventures. RiDiK Technology from Singapore, Manoranjan Mohapatra, Kumar Siddhartha, Chandra Shekhar Sharma, Sudhanshu Mishra, Sagar Gandhi and Mayank Sharma also joined the tour.
Wiingy: Wiingy, a robotic edtech startup, raised $ 400,000 or $ 0.4 million in angel funding round from Aroa Ventures, Abhinav Sinha, Maninder Gulati, Kavikrut, Rohit Kapoor and Ashish Goel, along with Vineet Nanda and Manish Chopra.
Orphicy: Orphicy, an edtech startup, has raised $ 331,000 or $ 0.33 million from NRI tech enthusiasts currently working in executive positions at Facebook, McKinsey, for a valuation of Rs 25 crore. IMS Learning Resources also took a 1% stake in the company.
Nap leader: Nap Chief, a direct-to-consumer (D2C) children’s clothing brand, raised $ 265,000 or $ 0.26 million in a funding round from Titan Capital and other angel investors.
Easocare, Storia, NFTly, Yobee, Orange Retail Finance, WebEngage, Habanero Foods and CHECKOUT did not disclose their financial details.
* Every week, we follow the startups that have raised new investments. Stay tuned for next week’s recap.