Funding Report: Indian startup ecosystem pulls $235.3 million in last week of June

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The Indian startup ecosystem, in the last week of June, has collected $235.3 million across 20 deals, 6.9 per cent of surge against previous week’s collection.

While, the week saw a stiff number of investors, putting capital into the startup system, Bollywood’s top notch celebrities Akshay Kumar and Deepika Padukone, also turned investors, infusing undisclosed amount of funds into the emerging businesses.

Padukone headed one of the first’s investment of the week with Bellatrix Aerospace, an IISc-incubated spacetech startup that raised $3 million in Pre-Series A from a group of venture capital investors.

The Bengaluru-based startup will use the funds to expand its team and demonstrate its tech in space.

Another spacetech platform Astrogate Labs that works in the satellite communication field, secured a confidential amount of funding in its Pre-Series A round from VC firm Speciale Invest.

Also read: Spacetech startup Astrogate Labs raises funding in pre-Series A round

The Bengaluru- based startup has several big plans up its sleeve, including a small-aperture optical ground terminal and plans to set up a network of optical ground stations.

On the other hand, Kumar, invested in tech startup GOQii with an undisclosed amount as part of the Series C round. The actor has also joined the company’s board as a strategic advisor, partner, and its brand ambassador. With a user base of about 2.7 million, the company is looking to grow to 10 million users by the end of FY20.

Cure.fit, a health and fitness startup closed its Series D round with an investment worth $120 million. The Bengaluru-based startup aims to spend the fresh investment for its expansion plans in India and across the world.

Gurugram-based 1mg raised $70 million in Series D round led by IFC (the investment arm of the World Bank) and Corisol Holdings. The healthtech platform will be using the capital to accelerate investments in its growth, supply chain, and healthcare AI.

In the education series of startups, Unacademy, the Bengaluru-based startup, raised $50 million in Series D round from Steadview Capital, Sequoia India, Nexus Venture Partners, and Blume Ventures. The company will use the funding to fuel its expansion strategy.

Also read: Edtech startup Unacademy raises worth $50 million funding

Seed-stage investment platform Indian Angel Network (IAN) invested over $500,000 in Pre-Series A round of edtech startup ConceptOwl. The startup will utilise the funds to enhance and diversify its offerings, and bolster its sales and marketing operations.

In another segment, co-living and co-working provider NestAway raised $5 million in second tranche of its ongoing Series D round from University of California and RNT Associates.

Celebrity-led beauty and wellness company Scentials raised ₹25 crore in Series A round led by Unilever Ventures. The Mumbai-based company will expand its offerings by introducing new lines and limited editions across the country.

Bengaluru-based Streak AI Technologies raised Pre-Series A funding of $1 million led by 3one4 Capital, with participation from existing investor Rainmatter Capital.

Also read: Trading startup Streak.tech raises $1 million in pre-Series A round

The financial technology startup  will use the funds to grow the team, scale the customer base, and focus on transforming retail participation in stock markets.

Early-stage fund Prime Venture Partners invested $1 million in Pre-Series A round in Bengaluru-based reconciliation software startup Recko. The company said it will use the capital to expand its team and speed up the product development and data capabilities.

Fintech startup Open raised ₹210 crore in Series B round, led by Tiger Global Management. The startup plans to use the funding to scale up the team, launch more products and value-added services, as well as expand its reach to one million SMEs in the next one year.

Networking platform for professionals, TapChief, said it has raised $650,000 in Pre-Series A from more than 50 investors including SEA-based VC firm 500 Startups.

Also read: Networking startup TapChief bags worth $650,000 from number of investors

Bengaluru-based biotech startup String Bio raised an undisclosed amount of funding from a number of investors including Ankur Capital. The startup said it will use the funding to develop alternate proteins for global feed and food companies.

Co-living space provider Ishthara Parks Pvt. Ltd has raised $5.7 million from JM Financial India Fund II, a Mumbai-based sector-agnostic growth-capital private equity fund. The startup will use the money to fund its expansion plans in its existing markets of Hyderabad, Bengaluru, and Delhi-NCR region as well as in other key cities in Asia.

Noida-based i2iFunding, an RBI registered peer-to-peer lending platform, has raised around $253,000 from SucSEED Venture Partners for its growth and expansion.

Beauty brand MyGlamm has raised $14.5 million, led by Bessemer Venture Partners, and the Mankekar family office. The company will utilise the funds for international expansion.

Besides, former Indian cricket captain Kapil Dev had invested in Delhi-based online market network Wizcounsel. The company raised $145,000 in an angel round, led by Dev, Sunil Kumar Gupta (Founder and Chairman of SAARC Associates), and Manas Fuloria (Founder and CEO of Nagarro).

Alternative asset manager Roots Ventures is on track to close its ₹200-crore maiden fund that will invest in early-stage and growth-stage companies in India.

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