Indian startups raised $111 million in first week of June

Ace investor Y-Combinator picks 28 startups from India for winter batch

The overall equity funding across 17 deals, raised by the Indian startup ecosystem, in the first week of June, stood at $111 million (approx ₹800 crore), a 25 per cent drop against previous week’s $148.1 million.

The week’s funding was dominated by one deal, real-estate tech startup NoBroker, as the company raised $51 million as part of its Series C round led by General Atlantic and included participation from existing investors SAIF Partners and BEENEXT.

The Bengaluru-based startup plans to use the funding to expand its operations and grow its home store and financial services offering.

Approximately $3.6 million was raised in debt financing from a deal, when bike-rental platform Vogo raised debt this week, led by Alteria Capital.

The company expects to leverage this investment to grow rapidly across India. Earlier, in March, it had raised funding from Flipkart Co-founder Sachin Bansal.

Noida-based Jadooz, which is bringing the multiplex experience to Tier II and III towns at affordable prices, raised seed funding of $270,000 led by Artha Venture Fund, and aims to build 15 new centres in India and Nepal.

Delhi-NCR based startup Nurturing Green raised an undisclosed amount of funding from industry veterans like Vijay Shekhar Sharma (Paytm), Mohit Goel (Omaxe Limited), Suraj Nangia (Nangia Advisors), and others. The green gifting company intends to use this capital to tie up with supermarkets across India, open over 200 stores, and develop a digital strategy to boost ecommerce sales.

Leegality, an e-signing and digital document workflow platform, raised an undisclosed amount in funding from Mumbai Angels Network, Chandigarh Angels, and HNIs. The Gurugram-based startup will use the funds to enhance their technology, scale operations, and accelerate growth.

Lastly, SucSEED Venture Partners invested in LetzConnect, an educational networking portal in a pre-Series A fund-raise that was also co-invested by Obopay Mobile technologies, and Japanese Investor Syndicate.

Meanwhile, five companies raised $22.7 million in Series A, led by Bengaluru-based Avail Finance, which raised $9 million in a round led by Matrix Partners India.

The fintech platform will use these funds to expand its product suite and will also offer micro-savings and micro-insurance products tailored specifically for blue-collar workers.

Apart from the listed startups that raised the highest number of funds among the 17 firms, the other remaining deals were cracked by Recykal, Dockabl, Infurnia, Cityfurnish, Pristyn Care, mCaffeine, Pratilipi, Milkbasket, FabHotels, and Chakr Innovation.


Please enter your comment!
Please enter your name here