This past week investments in Indian Startups declined by a significant margin of 51.54%. The total amount invested this week was recorded to be $187.83M. Operating in the FinTech space the B2B-modeled Partior led the list as it raised $60M in Series B round. Peak XV Ventures led the investment. The Mumbai-headquartered Dezerv secured $32M in the same round, the investment was led by Premji Invest and Elevation Capital
According to Infomance Research and Data Available on Public Sources, Indian startups raised $187.83 million across 20 deals this week. This included 04 growth-stage deals totaling $124 million and 15 early-stage deals totaling $63.83 million. Additionally, there were 01 undisclosed rounds, predominantly in the early stage.
| INDEX | STARTUP NAME | FUNDING AMOUNT ($) | STAGE | ROUND | MODEL | CITY | SECTOR | LEAD INVESTOR |
|---|---|---|---|---|---|---|---|---|
| 01 | iVP Semi | 5M | Early | Pre-Series A | B2B | Chennai | Semiconductor | Undsiclosed Investor |
| 02 | Care.fi | 2.6M | Early | Debt | B2B | Gurugram | PropTech | Trifecta Capital and UC Inclusive Credit Pvt Ltd |
| 03 | Centriti | 0.78M | Early | Pre-Series A | B2B | Delhi | FinTech | Emergent India Ventures |
| 04 | Dezerv | 32M | Growth | Series B | B2C | Mumbai | WealthTech | Premji Invest, Elevation Capital |
| 05 | Goat Brand Labs | 21M | Early | Series A | B2C | Bengaluru | E-Commerce | Black Rock, Mayfield and NB Ventures |
| 06 | Felicity Games | 0.7M | Early | Pre-Seed | B2B | Bengaluru | Media and Entertainment | DeVC and Visceral Capital |
| 07 | Helium | 0.55M | Early | Pre-Seed | B2B | Toronto | AI | Merak Ventures |
| 08 | Ricron Panels | Undisclosed | Early | Series A | B2B | Ankleshwar | CleanTech | Boon Sustainable Technologies |
| 09 | Immuneel Therapeutics | 12M | Early | Series A | B2C | Bengaluru | BioTech | Taiba Middle East FZ LLC. |
| 10 | House of Biryani | 2M | Early | Seed | D2C | Mumbai | FoodTech | AI Siraj Holdings |
| 11 | Simplismart | 7M | Early | Seed | B2B | Bengaluru | AI | Accel Partners |
| 12 | TimBuckDo | 0.25M | Early | Seed | B2C | Bengaluru | Gigs | Morton Meyerson and Nandkishore (Andy) Kalambi |
| 13 | Jugyah | 1.5M | Early | Seed | B2C | Mumbai | PropTech | White Venture Capital and QED Investors |
| 14 | Planet Marathi | 5M | Early | Equity Round | B2C | Mumbai | Media and Entertainment | A & MA Capital USA |
| 15 | Otipy | 10M | Growth | Series B | B2C | Gurugram | FMCG | Existing Investors |
| 16 | Circuit House Technologies | 4.3M | Early | Seed | D2C | Bengaluru | Consumer Electronics | Stellaris Venture Partners and 3one4 Capital |
| 17 | Infra.Market | 22M | Growth | Debt | B2B | Mumbai | E-Commerce | Yubi, Samunnati and Vivriti Capital |
| 18 | Partior | 60M | Growth | Series B | B2B | Hyderabad | FinTech | Peak XV Partners |
| 19 | CeraTattva InnoTech | 0.15M | Early | Seed | B2B | Chennai | SpaceTech | Campus Angels Network |
| 20 | QarmaTek | 1M | Early | Pre-Series A | B2B | Ahmedabad | Consumer Electronics | Umang Nahata, Rakesh Raman and Vishal Makwana |
[Stage-Wise Analysis]
Growth Stage Deals
Among the growth-stage deals, 04 startups raised $124Mn in funding this week. Hyderabad-based Partior secured the maximum funding this week, the amount raised was $60M. Second on the list was the wealth tech firm Dezerv which managed a $32M fund in the Series B round. Infra.Market, the building materials & construction materials supplier, raised $22M in debt. The deal was led by Yubi, Samunnati, and Vivriti Capital. Other than this, the Fast Moving Consumer Goods (FMCG) sectored Otipy secured $10M from existing investors.
Early Stage Deals
Subsequently, 15 early-stage startups secured funding worth $63.83M during the week. Among the early-stage startups, Bengaluru-headquartered firm Goat Brand Labs led the list by raising $21M in a Series A round. Operating in the BioTech, Immuneel Therapeutics secured $12M . The B2B-modeled startup Simplismart managed a fund of $7m in a seed round. Chennai-based iVP Semi raised $5M in Pre-Series A round. Media and Entertainment based Planet Marathi secured $5M in equity round. Consumer Electronics startup Circuit House Technologies raised $4.3M in seed round. The investment was led by Stellaris Venture Partners and 3one4 Capital. The FinTech sectored Care.fi raised $2.6M. The Mumbai-headquartered Jugyah secured $1.5M in a seed round. These were some worth-mentioning early-stage startups that raised funding this week.
Round-Wise Analysis
Among the 20 deals done this week, the maximum number of deals were done in the Seed round. There were 3 deals made each in Pre-Series A, Series A and Series B rounds. Two investments were made each in debt and Pre-Seed round. Additionally, there was a funding raised in the equity round.
Business Model-Wise Analysis
Maximum deals were closed by B2B-modeled firms, the number of deals being 11. It was followed by 07 deals by B2C companies and 02 deals were secured by D2C startups.
City-Wise Analysis
Bengaluru-based startups led the list by closing in on 6 deals, followed by 5 deals from Mumbai-headquartered companies. There were 2 investments made in startups from Chennai and Gurugram. Delhi, Toronto, Ankleshwar, Ahmedabad, and Hyderabad-based startups closed in on a deal each.
Sector-Wise Analysis
Sector-wise, there was no separation to be noticed in the number of deals secured. Sectors like FinTech, PropTech, E-Commerce, Media and Entertainment, Artificial Intelligence (AI), and Consumer Electronics raised 2 fundings each. Meanwhile, firms operating in sectors such as SpaceTech, Gigs, FMCG, FoodTech, BioTech, CleanTech, Semiconductor, and WealthTech secured a funding each.
UNDISCLOSED DEALS
There was a single deal this week in which the amount remain undisclosed. It came from an early-stage startup Ricron Panels. The funding was done in Series A round and the investment was led by Boon Sustainable Technologies. The brand converts multi-layer plastic waste into high-quality materials for furniture, building and construction applications.
MERGERS & ACQUISITIONS
Google-backed multilingual edutech platform Adda247 made its entry into the ₹800 crore chartered accountancy (CA) test preparation sector. This was achieved after the acquisition of Ekagrata Eduserv. The strategic move is made to bolster the firm’s position in the competitive exam market.
FinTech-based platform CASHe has entered the insurance sector by acquiring Centcart Insurance for an undisclosed amount. The acquisition will allow the startup to sell insurance plans across life and general insurance categories from all Indian insurers.
Melooha to boost its AI-based astrological offerings has acquired Bengaluru-headquartered Munitalks. The startup also aims to tap Munitalks’ AI technology stack to translate most of the Indian languages to boost its user base.
Schoolnet which provides digital classroom services to government schools, has Genius Teacher in an all-stock deal to enhance AI edtech solutions.
The consulting firm Accenture has acquired Excelmax Technologies, a Bangalore-based semiconductor design firm to expand the range of chip design services it offers its clients.
L&T Semiconductor Technologies Ltd, a wholly-owned subsidiary of the company entered into a share purchase agreement on July 8, 2024, for the acquisition of a 100% stake in SiliConch Systems.
MANAGEMENT DEPARTURE & LAYOFFS
India’s first Quick Commerce startup Zepto has announced the promotion of Devendra Meel to chief business officer (CBO), effective immediately. This move comes on the heels of the company’s recent $665-million funding round, which valued the startup at $3.6 billion.
Pet Care service provider Petzzco has named former cricketer and commentator Ravi Shastri as its principal advisor and brand ambassador.
Adrenalin eSystems, one of India’s leading brands in HR technology and Human Capital Management (HCM), announced the appointment of Sanjay Kamath as the Senior Vice President and Business Head for the SASIA region.
Medibazaar is on the lookout for a new Chief Executive Officer (CEO) as the former CEO and founder of the firm, Vivek Tiwari has reportedly stepped down as Big 4 Auditor PwC finds financial inaccuracies in the revenue recognition process.
The recently elected Adarsh Menon has parted ways with ZoomCar. He joined the company as President this January.
VC Fund Launched
The Chennai-based multi-asset investment firm Anicut Capital recently announced the closure of its maiden late-stage equity continuum fund of ₹300 crore.
Venture Capital firm Mounttech Growth Fund which is in its first round called Kavach has already raised more than ₹250 crore to invest in startups. This venture firm is founded by former defense secretary Ajay Kumar.
Former Premji Invest partner Atul Gupta, along with another former executive at Premji Invest, Rajesh Ramaiah, and former IFC executive Pravan Malhotra, has launched a growth capital-focused PE firm, Trident Growth Partners (India). The firm will invest in startups operating across consumer, financial services, enterprise software and technology, industrial and manufacturing, and healthcare sectors.
The National Bank for Agriculture and Rural Development (NABARD) has announced an agri fund for Start-Ups & Rural Enterprises (Agri-SURE), with an initial corpus of ₹750 crore to be managed by its wholly owned subsidiary Nabventures
