After a massive uptick in investment activity, the Indian startup ecosystem entered the slow funding lane in the second week of the ongoing month. Between February 12 and 19, startups collectively raised $125 Mn across 18 deals, which is a 25.5% dip from $168 Mn raised by 25 startups in the previous week.
Funding Galore: Indian Startup Funding Of The Week [Feb 12 – Feb 17]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 16 Feb 2024 | Captain Fresh | Ecommerce | B2B Ecommerce | B2B | $25 Mn | Series C Extension | British International Investment, Nekkanti Seafoods Group | |
| 12 Feb 2024 | Amber | Real Estate Tech | Shared Spaces | B2C | $21 Mn | – | Gaja Capital, Lighthouse Canton, Stride Ventures | Gaja Capital |
| 13 Feb 2024 | Supertails | Ecommerce | D2C | B2C | $15 Mn | Series B | RPSG Captial, Fireside Ventures, Saama Capital, DSG, Sauce VC | RPSG Capital |
| 15 Feb 2024 | Metalbook | Ecommerce | B2B Ecommerce | B2B | $15 Mn | Series A | Rigel Capital, FJ Labs, Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital | Rigel Capital |
| 12 Feb 2024 | Jeewani Hospitality | Travel Tech | Accomodation | B2C | $12 Mn | – | EaseMyTrip | |
| 15 Feb 2024 | Ayekart | Agritech | Market Linkage | B2B-B2C | $6.5 Mn | Series A | Omnivore, Siana Capital, Unleash Capital | |
| 14 Feb 2024 | Ascend Capital | Fintech | Lending Tech | B2B-B2C | $6 Mn | Series A | InfoEdge Ventures, Asha Ventures | InfoEdge Ventures, Asha Ventures |
| 14 Feb 2024 | TORK Motors | Cleantech | Electric Vehicle | B2C | $6 Mn | – | Maxis Capital | |
| 15 Feb 2024 | Veera | Healthtech | Fitness & Wellness | B2C | $6 Mn | Seed | Ayon Capital, 6th Man Ventures, Folius Ventures, The Operating Group, iSeed Ventures, Accomplice and Cypher Capital, Aalap Mahadevia, Kabir Narang, Nikhil Mohta | Ayon Capital |
| 14 Feb 2024 | Explurger | Media & Entertainment | Social Media | B2C | $4.5 Mn | Series A | Affle | |
| 12 Feb 2024 | Yu | Ecommerce | D2C | B2C | $2.4 Mn | Series A | Ashish Kacholia, Asian Paints Promoter Group | Ashish Kacholia, Asian Paints Promoter Group |
| 13 Feb 2024 | Noccarc | Healthtech | Medtech | B2B | $2 Mn | – | IAN, Sunil Munjal, Small Industries Development Bank of India (SIDBI), Technology Development Board (TDB) | IAN |
| 15 Feb 2024 | Segwise | Enterprisetech | Horizontal SaaS | B2B | $1.6 Mn | Seed | Powerhouse Ventures, Antler India, Blume Ventures, Everywhere Ventures, Saka Ventures, Untitled Ventures, Kunal Shah | Powerhouse Ventures |
| 13 Feb 2024 | Happi Planet | Ecommerce | D2C | B2C | $1 Mn | – | Fireside Ventures | |
| 12 Feb 2024 | Corrit Electric | Cleantech | Electric Vehicle | B2B | $602K | – | Porush Jain, | |
| 13 Feb 2024 | Scandalous Foods | Ecommerce | B2B Ecommerce | B2B | $361K | Seed | IAN, KRS Jamwal, Mrunal Jhaveri, Arjun Vaidya, Ajay Mariwala, Sushma Gupta | |
| 13 Feb 2024 | Frubon | Ecommerce | D2C | B2C | – | Series A | Fireside Ventures, Pi Ventures LLP | |
| 15 Feb 2024 | Freo | Fintech | Banking | B2C | – | Debt | Small Industries Development Bank of India (SIDBI) |
Key Startup Funding Highlights Of The Week
- Bengaluru-based B2B seafood startup bagged $25 Mn in funding from British International Investment and Nekkanti Seafoods, making the biggest funding round of this week.
- Fuelled by Captain Fresh’s funding, ecommerce emerged as the most funded sector with $58.1 Mn and a maximum of seven deals this week.
- This week, seed funding plummeted to $7.9 Mn across 4 deals, from $17.7 Mn across nine deals last week.
- Fireside Ventures emerged as the busiest investor this week as it participated in three deals.
Updates On Indian Startup IPOs
- Fintech SaaS company Trust Fintech Limited had filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge to raise funds via an initial public offering (IPO).
- ixigo’s parent Le Travenues Technology Ltd refiled its DRHP to raise INR 120 Cr via fresh issue of shares.
- OTT streaming platform Ullu Digital has filed its DRHP with the BSE SME for an IPO to raise around INR 130 Cr.
Other Major Developments From This Week
- Navi Finserv is planning to raise up to INR 600 Cr via issuance of Non-Convertible Debentures (NCDs) to fuel its business growth.
- Home interior startup HomeLane to acquire DesignCafe in a stock-swap deal.
- Hyderabad Angels launched its maiden venture capital fund at INR 150 Cr to invest in early stage startups.
- Endiya Partners is set to launch its third fund for a corpus ranging between INR 800 Cr and INR 1,000 Cr ($100-$125 Mn).
- Nazara’s NODWIN Gaming to acquire Ninja Global FZCO (Ninja), to foray into Turkey and the Middle East region
- Africa’s mobility fintech startup Moove raised $10 Mn (about INR 83 Cr) in debt from Stride Ventures to expand its presence in the Indian market.
- InCred Group’s InCred Alternatives Investments launched its maiden Category II AIF, with a target corpus of INR 500 Cr ($60 Mn+).
- PedalStart, a startup accelerator launched Series-2 fund with $250K funding to help early stage startups