Posts in category: Weekly Startup News

This past week, Indian startups collectively raised approximately $432 million in funding through 25 deals. Of these, 6 were growth-stage deals that accounted for $350 million, while 16 early-stage startups secured $82.09 million in total. Notably, three early-stage startups—Adukale, CricHeroes, and Flam—chose not to disclose their funding amounts.

Growth-Stage Deals

Among the growth-stage deals, six startups raised a combined $350 million:

• Oyo: Hospitality platform spearheaded its $175 million Series G round.
• Ather Energy: Electric scooter manufacturer joined the unicorn club with $71 million in a Series E round.
• Neo: Wealth and asset management firm secured $48 million.
• Syfe: Wealthtech startup raised $27 million in equity funding.
• Vayana: Trade credit infrastructure platform secured $20.5 million.
• Innoviti: Payment gateway and PoS provider raised $8.5 million in a mix of equity and debt.

Early-Stage Deals

Sixteen early-stage startups secured a total of $82.09 million in funding:

• Kinetic Green: Electric vehicle maker secured $25 million from Greater Pacific Capital.
• Fresh Bus: Electric intercity bus startup raised $10.5 million in a Series A round.
• Beco: D2C home, kitchen, and personal care brand raised $10 million.
• Kazam: E-mobility startup secured $8 million.
• 4baseCare: Healthcare startup raised $6 million led by Yali Capital.

Additionally, three startups—Adukale, CricHeroes, and Flam—chose not to disclose their funding details.

City-Wise Breakdown

Bengaluru remained the epicenter of startup activity with 9 deals, followed by Delhi-NCR, Mumbai, Pune, Chennai, Kochi, and Ahmedabad. The strong showing of both growth and early-stage startups indicates a continued investor confidence in India’s thriving startup ecosystem.

Here are the fundings of the week.
In the first week of August 2024, Indian startups collectively raised around $341 million across 32 deals. This includes 6 growth-stage and 22 early-stage deals, with 4 early-stage startups choosing not to disclose their funding amounts. Compared to the previous week, which saw $113.39 million raised by 22 startups, this week’s funding highlights significant growth in investment activity.

🔰Growth-stage deals🔰
Six startups led the growth-stage funding, raising a total of $216.8 million:

1. Rapido: The mobility startup Rapido became the latest unicorn, securing $120 million in a Series E round led by WestBridge Capital.
2. Navi: The fintech firm Navi, headed by Flipkart co-founder Sachin Bansal, raised $38 million from JP Morgan for its lending arm, Navi Finserv.
3. Clix Capital: This NBFC raised $26.3 million (₹220 crore) in a funding round led by Apollo Global Management, Pramod Bhasin, and Anil Chawla.
4. Vayana Network: The trade financing startup secured $20.5 million in its Series D funding round.
5. BharatPe: The fintech company raised $10 million in debt financing from Trifecta and InnoVen.
6. Khelo More: The sportstech company received $2 million in funding led by Rajdip Gupta of Clear Bridge Ventures and Ashwin Damera, co-founder of Eruditus.

🔰Early-Stage deals🔰
The early-stage segment saw 22 startups raising $124.24 million:

• BluPine: A leading renewable energy services company.
• Simple Energy: An EV startup that previously raised over $20 million in an ongoing Bridge round in February 2024.
• Kinetic Green: An electric vehicle manufacturer.
• Meragi: A wedding services platform, secured $9.1 million in a round led by Accel.
• Scimplify: A platform specializing in the sourcing and manufacturing of specialty chemicals.

Undisclosed Funding
Four early-stage startups—BoldFit, Game Theory, Cogniquest, and Vitra.ai—chose not to disclose their funding amounts.

Sector Highlights

• Renewable Energy: BluPine continues to attract significant investor interest, with the sector raising over $919 million across 19 rounds.
• EV Startups: Simple Energy and Kinetic Green are at the forefront of India’s transition to electric vehicles, reflecting growing investor confidence in sustainable mobility.
• Fintech: Companies like Navi and BharatPe demonstrate the ongoing innovation and investment in India’s fintech landscape.

The first week of August showcased a strong start to the month, with substantial funding across various sectors, particularly in growth-stage companies. The increasing investments in renewable energy, electric vehicles, and fintech are indicative of broader trends shaping India’s startup ecosystem.

This momentum is likely to continue as more startups and investors capitalize on the growing opportunities within the Indian market.

🚀The Builders Club Congratulates and wishes all the Founders🎉🎉

Here are the fundings of the week

🔰Growth-stage deals🔰

🔶 Zepto grabbed the limelight with its $665 million funding.
🔶 Ummeed Housing Finance Pvt. Ltd. raised $76 million in Series F funding.
🔶Aye Finance Pvt. Ltd raised $30 million from FMO
🔶Bira 91 has raised $25 million from Kirin Holdings
🔶 slice $20 million Debt From Neo Asset Management Pvt. Ltd.
🔶wrogn ltd has raised Rs 125 crore ($15 million) from Aditya Birla Group-owned TMRW House of Brands
🔶Dvara KGFS Secured $10 Million in Debt Financing from BlueOrchard Finance Ltd Microfinance Fund
🔶 Aviom India Housing Finance Private Limited raised  $5 Mn Debt From InsuResilience Investment Fund
🔶 Jupiter’s NBFC arm Amica Finance Ltd raised $2.4 million from Peak XV Partners, Matrix Partners, and others.


🔰Early-Stage deals🔰

🔶OrbitShift.AI secured $7 million in seed funding led by Peak XV Partners’s Surge and Stellaris Venture Partners.
🔶Balwaan Krishi raised INR 40 Cr ($4.8 Mn) in Series A funding from JM Financial Private Equity
🔶 The Pant Project raised $4.25 million in a Series A round led by Sorin Investments.
🔶Supermoney (GetClarity Fintech Services Pvt Ltd)secured $3.4 million in its Series A funding round.

🚀The Builders Club Congratulates and wishes all the Founders🎉🎉