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Funding Galore: Indian Startup Funding Of The Week [1- 6 June]

By Aman Rawat
Funding Galore: Indian Startup Funding Of The Week
Infocus
Funding Galore

Every week, more than a dozen startup secure funding and many get acquired. In this weekly series, we bring the latest deals from the Indian startup ecosystem consolidated at a single page.

We bring to you the latest edition of Funding Galore: Indian Startup Funding Of The Week!

In one of the biggest funding rounds this week, Reliance Jio continued its funding spree with new funding announcements from existing investor private equity firm Silver Lake and Abu Dhabi-based sovereign investor Mubadala Investment Company (Mubadala).

In less than six weeks, Jio Platforms has raised INR 92,202.15 Cr from leading technology and private equity investors. This includes massive INR 43,574 Cr investment from Facebook which gave a 9.99% stake of Jio Platforms to the social media giant. Other investment firms which have recently pooled their money in Jio Platforms include Vista Equity Partners, General Atlantic and KKR.

Overall, eight startups raised around $20.5 Mn funding and three startup acquisition took place in the Indian startup ecosystem this week. (This funding report is based on startups that disclosed funding amount.)

Indian Startup Funding Of The Week

  1. DocsApp: $10.5 Mn
  2. BankBazaar: $6 Mn
  3. WoodenStreet: $3 Mn
  4. Crofarm: $1 Mn
  5. Timios: Undisclosed
  6. Axys: Undisclosed
  7. Vahak: Undisclosed
  8. Credgenics: Undisclosed

Bengaluru-based DocsApp has raised $10.5 Mn in its ongoing Series B funding round led by Bessemer Venture Partners, Fusian Capital, Mitsui Sumitomo and Beyond Next Ventures. Existing investors Milliways Ventures and Rebrights Partners also participated in the round.

Online financial services marketplace BankBazaar has raised ($6 Mn) INR 45 Cr in its ongoing Series D round led by WSV, a joint venture fund of Walden International and Korean company SKTA. BankBazaar’s existing investors Amazon, Sequoia India, Experian and Eight Roads also participated in the round.

Jaipur-based online custom furniture platform WoodenStreet raised $3 Mn in Series A funding from Indian Angel Network (IAN) fund and Rajasthan Venture Capital Funds (RVCF). WoodenStreet is looking to utilise the funds to increase its footprint, both domestically and globally.

Agritech startup Crofarm Agriproducts has raised $1 Mn in its Pre-Series A funding round led by Smile Group. Crofarm has recently launched Otipy platform to help women farmers sell fresh produce to their community.

Bengaluru-based healthy food brand Timios has raised an undisclosed amount in Pre Series A funding led by Rangsons Technologies LLP, part of NR Group, along with the participation of Paipal Ventures LLP. The funds will be used for product development, strengthening the existing distribution network and enhancing the technology platform.

Mumbai-based nutraceutical startup Axys Nutrition Products has raised an undisclosed amount in a pre-Series A round from DSG Consumer Partners. The funding will enable Axys to continue product development as well as to scaling team and presence.

Logistics startup Vahak has raised an undisclosed funding amount in its seed round led by Leo Capital along with the participation of angel investors. With the recent funding, the startup is aiming to strengthen its team and technological capabilities.

Fintech platform Credgenics has raised an undisclosed amount in its seed round from Titan Capital, a fund backed by Snapdeal founders Kunal Bahl and Rohit Bansal. Credgenics will use the funds to scale operations in metro cities. It’ll also invest the funds towards streamlining and strengthening product development.

Startup Acquisitions This Week

Other Developments Of The Week

Stay tuned for the next week edition of Funding Galore: Indian Startup Funding Of The Week!

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