Weekly Funding: Indian startup ecosystem draws $169.4 million in third week of September

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In the third week of September, the Indian startup ecosystem, was able to drop around $169.4 million (approx ₹1203 crore) in its funding treasury.

The week experienced one of the biggest funding deals when Lenskart, an eyewear solutions startups, secured ₹392 crore from Kedaara Capital. With this capital, Lenskart plans to expand to international markets like Singapore and others.

In yet another mammoth deal that took place in the middle of the week showed Paytm Money, an arm of India’s largest digital transaction platform Paytm, bagged ₹40 crore funding from Vijay Shekhar Sharma-owned One97 Communications.

For details: Paytm Money receives ₹40 cr from parent company One97 Communications

Other major deals from September 16- 21 are mentioned below:

A logistics space Blowhorn, based out of Bengaluru, has been able to raise an undisclosed round of funding led by a confidential investor. The round also saw participation from Chiratae VenturesDell FoundationVenture CatalystsDream Incubator. The company said that it plans to utilise the funding on innovation and expansion of the firm.

For details: Chiratae Ventures, Dell Foundation, others invest in logistics startup Blowhorn

An undisclosed investor has infused ₹80 crore as debt funding in fintech startup Aye Finance. The startup plans to use the funds to further grow its lending portfolio.

An edtech startup AttainU, has raised an undisclosed capital in angel funding from a clutch of investors including Shailesh Rao, former head of Google India. Bengaluru-based platform said that the raised funding will be used to further strengthen faculty, development of courses, counselling teams, and build a semi-automated platform to cater to the huge inbound student demand AttainU is receiving.

Kaarya Naturals, a health food company has bagged an undisclosed sum of money from Roots Ventures. Mumbai-based foodtech startup will use the infused funds to expand its product range and reach through online and offline channels.

For details: Root Ventures invest an undisclosed sum of capital into healthy food startup Kaarya Naturals

Mastercard and ACPL has invested an undisclosed amount as part of Pre-Series A funding round in digital identity solutions provider Syntizen Technologies. The platform will use the funding to strengthen its product offerings, as well as, drive aggressive expansion in India and across the world. It will also help catalyse adoption of its business solutions.

For details: Mastercard and ACPL infuse an undisclosed amount in SaaS-based solution provider platform Syntizen Technologies

WaterBridge Ventures led ₹11 crore pre-Series A round of funding in ShoeKonnect, an online B2B footwear marketplace. While, Info Edge India also participated in the round. Delhi-based platform will use the capital for aggressive growth in the footwear segment.

NestAway Technologies, a home rental startup, has secured ₹34.92 crore as part of its ongoing Series D round from Goldman Sachs. While, the round also witnessed IDG India and Tiger Global as participants.

For details: Home rental startup NestAway raises ₹34.92 cr in Series D round from Goldman Sachs

Square Yards, a proptech startup, has secured $20 million (approx ₹142 crore) of equity capital from a clutch of investors. While, some of the existing investors of the platform also participated in the round. Gurugram-based company said that with the latest fundraise, it wants to aggressively ramp up its investments in strengthening its technology infrastructure.

iKure Techsoft Pvt Ltd, a social health platform, based out of Kolkata, has bagged an undisclosed amount of funding from Inflection Point Venture (IPV). The startup plans to use the acquired funds for business and technology expansion.

For details: Social health tech platform iKure bags an undisclosed amount from Inflection Point Venture

Furthermore, towards the end of the week, some of the impressive deals that surge the funding galore are as follows:

SucSEED Venture Partners, has infused an undisclosed amount of investment in one of its kind startup Eunimart. It an AI-based end-to-end omnichannel trade and commerce management platform for small and medium enterprises (SME) selling globally.

For details: SucSEED Venture Partners infuses an undisclosed amount of invesment in AI-based commerce startup Eunimart

Smart Farms, an agritech space, has bagged an undisclosed sum as part of its angel round from a bulk of angel investors. Gurugram-based startup said that it will invest these funds in bolstering its technology offering, hiring senior level management as well as expand its operations.

LectureNotes, an edtech startup, has secured ₹2.5 crore from HNIs as part of its angel round. Bhubaneshwar-based startup will be using these funds to enrich its technology platform, expand its operations as well as focus on business growth. The company also claims that it will also be heavily investing the funds in building an AI-based system which will handhold the student based on their abilities, current skills, and reading habits to help them concentrate better, setting a career path and helping them proceed on the same to build a successful career.

Tiger Global has invested $25 million (approx ₹177 crore) in an online stock broking startup Upstox through second round of institutional funding. The platform will use the latest sum of money to expand its business, strengthening the product platform as well as for hiring.

For details: Tiger Global puts $25 million in stock broking startup Upstox

SRI Capital led a Pre-Series A round with $3 million (approx ₹21 crore) investment in a health tech startup Meddo, with participation from growX VenturesLetsVentureJitendra Gupta (Co-founder Citrus Pay), and Venture Gurukool, among others.

For details: SRI Capital leads $3 million pre-Series A round in health tech startup Meddo

Lightbox Ventures has led a series B round of funding with an undisclosed amount in offline pharmacy startup Generico. While, Tomorrow Capital and Whiteboard Capital also participated in the round. Generico will use the infused funds to build upto 150 stores in the next two years, and with over 4,00,000 customers, claims to be profitable at a store and warehouse level.


Groww, a fintech startup or a wealth management platform, has raised $21.4 million (approx ₹152 crore) as part of its series B funding round led by Ribbit Capital. While, Sequoia India and Y Combinator also participated in the round. The platform will use these funds to double its employee count to 200 plus, and hire across functions of engineering, product, and growth teams.

Wow! Momo Foods, a restaurant chain, which owns Wow! Momo and Wow! China, has secured $23 million in a Series B funding round led by Tiger Global. Post investment, Kolkata-based company is valued at $120 million (₹860 crore).

For details: Tiger Global leads $23 million series B funding round in restaurant chain startup Wow! Momo Foods

BetterButter, an Indian recipe-sharing platform, has been acquired by Silverpush, a Singapore-based marketing technology company. Silverpush said that the acquisition will strengthen the advertising business of SilverPush by providing a deeper penetration within the advertising value chain.

For details: Marketing tech company Silverpush acqui-hires recipe-sharing platform BetterButter



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