Funding in Indian startups this week (04 Oct-09 Oct)
This week, 40 Indian startups raised funds, 33 of which received a total of $ 1.170 million or $ 1.1 billion. Byju raised the highest funding of around $ 296 million, followed by CoinSwitch Kuber which raised $ 260 million.
In addition, three startups – Licious, CoinSwitch Kuber and Rebel Foods – turned into unicorns this week.
Meanwhile, funding for seven of the total funded startups has not been disclosed.
Below is the summary of the transactions concluded this week
Growth / late start-ups (10 deals)
by Byju: Byju’s has raised a new tranche of 2,200 crore rupees or $ 296 million from more than half a dozen investors. The Bengaluru-based company had recently raised $ 150 million in a new and old round from a few investors.
CoinSwitch Kuber: CoinSwitch Kuber, India’s crypto asset platform, closed $ 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 funding round led by Qatar Investment Authority and with participation from existing investors Coatue and Evolvence.
Twin health: California and Chennai-based healthcare startup Twin Health raised $ 140 million (approximately Rs 1,000 crore) in Series C funding from Sequoia Capital India, ICONIQ Capital, Perceptive Advisors, Corner Ventures, LTS Investments, Helena and Sofina.
Esper: based in India and the United States Esper raised $ 60 million in a Series C funding round led by Insight Partners, with participation from existing investors including Scale Venture Partners, Madrona Ventures, and Root Enterprises.
Delicious: Meat and seafood brand Licious became the first Indian unicorn in the D2C segment after the company raised $ 52 million through the Late-Stage Tech Fund of IIFR AMC. Overall, this is the 29th company to achieve coveted unicorn status in 2021 alone.
Chalo: Chalo, a public transport technology company, said on Tuesday it had raised around $ 40 million in its Series C funding round led by Lightrock India and Filter Capital.
Program Cap: Fintech startup Progcap, which facilitates debt capital for underserved micro and small businesses, has raised $ 30 million in a Series C funding round led by Tiger Global and Creation Investments. Existing investor Sequoia India also participated in the round.
Eduversity of the Sun Stone: Sunstone Eduversity Pvt. Ltd.., owned by Sunstone Education Tech, has raised $ 28 million (approximately Rs 208.8 crore) in funding, led by WestBridge Capital.
Chingari: The short video entertainment app Chingari has raised $ 19 million in a token round.
Start-up in start-up phase (30 transactions, 7 undisclosed)
Qapita: Qapita, a provider of SaaS equity management solutions, has raised a $ 15 million Series A funding round 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 funders Omidyar Network India, Flourish Ventures and Emphasis Ventures (EMVC) have also joined the new cycle.
Ozonetel: Hyderabad and San Francisco-based Ozonetel, an on-demand cloud communications service provider, has raised $ 5 million in Series A round of Stakeboat Capital, a private equity fund based in Bangalore.
Mobile software 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.
100 ms: 100ms, a video infrastructure platform, raised $ 4.5 million in its Accel-led funding round with participation from Strive.vc.
Smartstaff: Smartstaff, a blue-collar workforce management startup, has raised $ 4.3 million in a new round led by Blume Ventures, Nexus Venture Partners and Arkam Ventures. Gemba Capital as well as undisclosed angel investors also participated.
Black Ground: Kaar Technologies, a pure SAP consulting platform, raised $ 4 million in a round led by BlockSoil Capital.
Stader Laboratories: Stader Labs, a cryptocurrency staking management platform, raised $ 4 million in its round table led by Pantera Capital.
Kaar Technologies: Kaar Technologies, an outright SAP digital transformation consulting and services partner, has raised Rs 30 crore ($ 4.036 million) in an acquisition finance facility from alternative lending platform BlackSoil Capital.
PazCare: PazCare, a social benefits and insurance platform, raised $ 3.5 million in its funding round led by BEENEXT and 3one4 Capital.
Jai Kisan: Rural fintech start-up Jai Kisan has raised Rs 25 crore or $ 3.3 million in debt from Trifecta Capital.
trica: trica, a new entity of the LetsVenture trading platform, has raised $ 3 million in its fundraising round led by a clution of institutional and individual investors such as Accel and Kunal Shah.
Profit wheel: SaaS Startup Profit wheel recently secured a total fundraising of $ 3 million in its fundraising round.
ANS trade: ANS Commerce, an ecommerce activation 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 technology startup, has raised $ 2 million in a new round led by Malaysia-based Petronas Ventures.
KWh bikes: kWh Bikes, a multi-utility electric scooter startup, raised $ 2 million in its funding round led by Let’s Venture.
The Company of Women: 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 the Mobius Foundation. Ms. Anuradha Gupta along with a few US-based HNIs have also joined the cycle.
Hyperface: Hyperface, a credit card services startup, has raised $ 1.3 million from a group of investors including Kunal Shah, Better Capital and GFC.
Ishitva: Ishitva, a robotic waste sorting startup, has raised $ 1 million in its pre-Series A round led by Inflection Point Ventures (IPV).
IBSFINtech: IBSFINtech, a Bengaluru-based startup focused on cash management, risk and trade finance, raised $ 1 million in pre-Series A from a High Net Worth Group (HNI).
D’Moksha: D’Moksha Houses – an eco-friendly D2C home fashion brand raised $ 0.57 million from Venture Catalysts, among others.
Transacier: Transteel, D2C brand of office furniture intended for SMEs and mid-cap companies, received development capital of Rs 4 crore or $ 0.53 million from investors, including revenue-based finance player Klub.
Cold love: Cold love The ice cream brand said on Thursday it had raised Rs 2.5 crore or $ 0.33 million in angel funding over two rounds. The company, founded by Aditya Tripathi, makes all-natural homemade ice cream.
Kissan Pro, Attentive, Phool.co, LeadSquared, Sunfox, mHealth and Karat farms did not disclose their financial details.
* Every week, we follow the startups that have raised new investments. Stay tuned for next week’s recap.