Following two weeks of substantial growth in startup ecosystem funding, the third week of November experienced a significant decline.
Between November 13 and 18, the startup ecosystem collectively raised $44 Mn across 10 deals, marking a 72% decrease from the previous week’s $159 Mn raised across 18 deals.
Funding Galore: Indian Startup Funding Of The Week [Nov 13 – Nov 18]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 13 Nov 2023 | Bakingo | Ecommerce | D2C | B2C | $16 Mn | – | Faering Capital | |
| 14 Nov 2023 | Slice | Fintech | Lendingtech | B2C | $9 Mn | Debt | Stride Ventures | |
| 15 Nov 2023 | CoverSelf | Fintech | Insurtech | B2B | $8.2 Mn | Seed | 3one4 Capital, BEENEXT, Z21 Ventures | 3one4 Capital, BEENEXT |
| 16 Nov 2023 | Inito | Healthtech | Medtech | B2C | $6 Mn | Series A | Fireside Ventures | Fireside Ventures |
| 13 Nov 2023 | General Autonomy | Deeptech | Hardware & IoT | B2B | $3 Mn | Seed | India Quotient, Elevation Capital, Srinath Ramakkrushnan, Ramakant Sharma, Ankush Sachdeva | India Quotient, Elevation Capital |
| 16 Nov 2023 | Centa | Edtech | Online Certification | B2B-B2C | $1 Mn | – | Leo Puri, Pankaj Sahini, Bahram Vakil, Nikhil Mohta | |
| 13 Nov 2023 | SecurWeave | Enterprisetech | Horizontal SaaS | B2B | $336K | Seed | IAN, Romesh Sobti, Uday Chatterjee, Nagendra P Bandaru, Prakash | IAN |
| 14 Nov 2023 | Breathe ESG | Enterprisetech | Horizontal SaaS | B2B | $315K | Seed | 100X. VC, KANJ Realty Ventures, Hyderabad Angels | 100X. VC |
| 16 Nov 2023 | Happy Nature | Ecommerce | D2C | B2C | $300K | Pre-Series A | IPV | |
| 17 Nov 2023 | Airattix | Logistics | Storage Services | B2B-B2C | $276K | Pre-Series A | – | – |
| Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included |
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Key Startup Funding Highlights Of The Week
- Bakery goods startup Bakingo raised $16 Mn funding from private equity firm Faering Capital, making it the biggest funding deal of the week.
- Fuelled by Slice and CoverShelf’s funding, the fintech sector emerged as the most funded sector this week, raising $17.2 Mn across two deals.
- The ecommerce and fintech witnessed the most number of deals – two each. While enterprisetech startups bagged $16.3 Mn, startups in the fintech sector raised $17.2 Mn.
- Seed funding saw an astronomical rise with $11.8 Mn in funding across four deals.
Startup Acquisitions This Week
- Media-focussed SaaS unicorn Amagi acquired UK-based Tellyo’s business for an undisclosed amount.
- Agritech startup DeHaat acquired the fruit export business of Ahmedabad-based listed fruit export firm Freshtrop Fruits in an all-cash deal.
Other Major Developments From This Week
- Ranjan Pai’s family office acquired the $250 Mn debt availed by BYJU’S offline coaching arm Aakash Educational Services Limited (AESL) from Davidson Kempner.
- Traveltech SaaS startup RateGain has launched a qualified institutional placement (QIP) to raise fresh capital worth INR 600 Cr.
- Bhavish Aggarwal’s Ola Electric has converted into a public entity, a mandatory step required before filing IPO papers.
- Lendingtech startup Moneyboxx Finance is set to raise INR 70 Cr ($9 Mn) from HNIs and family offices as a part of a strategic investment.