Funding in Indian startups this week (04 Oct-09 Oct)


This week 40 Indian startups raised funding, of which 33 received a total of $1,170 million or $1.1 billion. Byju’s raised the highest funding of about $296 million, followed by CoinSwitch Kuber which raised $260 million.

Also, three startups — Licious, CoinSwitch Kuber and Rebel Foods — turned into unicorns this week.

Meanwhile, the funding of seven of the total funded startups remained undisclosed. 

Below is the summary of deals closed this week

Growth/late startups (10 deals)

Byju’s: Byju’s has raised a fresh tranche of Rs 2,200 crore or $296 million from more than half a dozen investors. The Bengaluru-based company had recently picked up $150 million as a part of a new and old round from a couple of investors.

CoinSwitch Kuber: CoinSwitch Kuber, India’s crypto asset platform, has closed a $260 million Series C funding round from Andreessen Horowitz (a16z), Coinbase Ventures and existing investors Paradigm, Ribbit Capital, Sequoia Capital India and Tiger Global. 

Rebel Foods: Cloud kitchen brand Rebel Foods has raised $175 million in its Series F round led by Qatar Investment Authority and participated by existing investors Coatue and Evolvence.

Twin Health: California and Chennai-based healthcare startup Twin Health raised $140 million (around Rs 1,000 crore) in Series C funding from Sequoia Capital India, ICONIQ Capital, Perceptive Advisors, Corner Ventures, LTS Investments, Helena, and Sofina.

Funding

Esper: India and US-based Esper has raised $60 million in Series C funding round led by Insight Partners, with participation from existing investors including Scale Venture Partners, Madrona Ventures, and Root Ventures.

Licious: Direct-to-consumer meat and seafood brand Licious became India’s first unicorn from the D2C segment after the company raised $52 million led by IIFL AMC’s Late-Stage Tech Fund. Overall, it is the 29th company to attain the coveted unicorn status in 2021 alone. 

Chalo: Chalo, a public transport technology company, on Tuesday, announced that it has raised about $40 million in its Series C round led by Lightrock India and Filter Capital.  

Progcap: Fintech startup Progcap, which facilitates debt capital for underserved micro and small businesses, has scooped up $30 million in a Series C financing round led by Tiger Global and Creation Investments. Existing investor Sequoia India also participated in the round.  

Sunstone Eduversity: Sunstone Eduversity Pvt. Ltd., owned by Sunstone Education Tech, has raised $28 million (about Rs 208.8 crore) in funding, led by WestBridge Capital.

Chingari: Short video entertainment app Chingari has raised $19 million in a token round.

Early-stage startups (30 deals, 7 Undisclosed)

Qapita: Qapita, a provider of equity management SaaS solutions, has raised a Series A round of $15 million co-led by East Ventures (Growth Fund) and Vulcan Capital, with participation from NYCA and other existing investors including MassMutual Ventures, Endiya Partners. 

GramCover: GramCover, a rural insurtech startup, has raised $7 million in its Series A round co-led by Siana Capital and Inflexor Ventures. Stride Ventures along with existing backers Omidyar Network India, Flourish Ventures and Emphasis Ventures (EMVC) have also joined the new round.

Ozonetel: Hyderabad and San Francisco-based Ozonetel, a provider of on-demand cloud communication services, has raised $5 million in Series A round from Stakeboat Capital, a private equity fund based out of Bengaluru.

Mobileware Technologies: Mobileware Technologies, an API banking and digital payments startup, has raised $4.75 million in a new round led by Denmark-based Kvanto Payment Services.

100ms: 100ms, a video infrastructure platform, has raised $4.5 million in its seed round led by Accel with participation from Strive.vc.

Smartstaff: Smartstaff, a blue-collar workforce management startup, has raised $4.3 Mn in a new round led by Blume Ventures, Nexus Venture Partners and Arkam Ventures. Gemba Capital along with some undisclosed angels have also participated.

BlackSoil: Kaar Technologies, a pure-play SAP consultancy platform, has raised $4 million in a round led by BlockSoil Capital.

Stader Labs: Stader Labs, a cryptocurrency staking management platform, has raised $4 million in its seed round led by Pantera Capital.

Kaar Technologies: Kaar Technologies, a pure-play SAP digital transformation consulting and services partner, has raised Rs 30 crore ($4.036 million) in acquisition financing facility from alternative credit platform BlackSoil Capital. 

PazCare: PazCare, an employee benefits and insurtech platform, has raised $3.5 million in its seed round led by BEENEXT and 3one4 Capital.

Jai Kisan: Rural fintech startup Jai Kisan has raised Rs 25 crore or $3.3 million  in debt from Trifecta Capital.

trica: trica, a new entity of dealmaking platform LetsVenture, has raised $3 million in its seed round led by a clution of institutional and individual investors such as Accel and Kunal Shah.

ProfitWheel: SaaS startup ProfitWheel has recently secured a total capital raise of $3 million in its seed round.

ANS Commerce: ANS Commerce, an e-commerce enablement startup, has raised $2.2 million in its pre-Series A round led by Gokul Rajaram and Venture Catalysts.

Log 9 Materials: Log 9 Materials, an advanced battery-tech startup, has raised $2 million in a new round led by Malaysia-based Petronas Ventures.

kWh Bikes: kWh Bikes, a multi-utility e-scooters startup, has raised $2 million in its seed round led by Let’s Venture.

The Women’s Company: The Women’s Company, a D2C feminine hygiene brand, has raised $1.4 million in its pre-Series A round led by Mr. Pradip Burman of Mobius Foundation. Ms. Anuradha Gupta along with a few HNI’s based in the US have also joined the round.

Hyperface: Hyperface, a credit card service startup, has raised $1.3 million funding from a clutch of investors such as Kunal Shah, Better Capital and GFC.

Ishitva: Ishitva, a waste sorting robotic startup, has raised $1 million in its pre-Series A round led by Inflection Point Ventures (IPV).

IBSFINtech: IBSFINtech, a Bengaluru-based startup focussed on treasury, risk & trade finance management, has raised $1 million in pre-series A round from a group of high networth individuals (HNIs).  

D’Moksha: D’Moksha Homes — a D2C environment-friendly home fashion brand raised an angel seed round of $0.57 million from Venture Catalysts, among several others. 

Transteel: Transteel, a D2C brand for office furniture targeted at SMEs and middle-market companies, has received growth capital of Rs 4 crore or $0.53 million from investors, including revenue-based financing player, Klub.

Cold Love: Cold Love ice cream brand on Thursday said it raised Rs 2.5 crore or $0.33 million in angel funding over two rounds. The company, founded by Aditya Tripathi, makes artisanal, all-natural ice cream.

Undisclosed

Kissan Pro, Attentive, Phool.co, LeadSquared, Sunfox, mHealth and Karat Farms did not disclose their financial details.

*Every week we track startups that have raised fresh investment. Stay tuned for next week roundup





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