Weekly report : Indian startup ecosystem draws $342 million in first week of July


The Indian startup ecosystem has embarked for the second week of July, after drawing around $342 million across 20 deals in the first week. It is a 45-per cent surge from the previous week.

Here is the recap of the week that saw varied startups, actively raising fundings;

The week started off with Uniphore Software Systems, a Chennai-based speech recognition startup, raised around $38 million in its Series C round. The round was led by California-based March Capital Partners.

Then, a Delhi-based digital insurance platform RenewBuy.com, raised $19 million in Series B funding round led by Lok Capital and IIFL Wealth with participation from existing investors Amicus Capital. The startup plans to use the funds to expand to newer geographies and introduce new products.

The week was then followed by other startups, getting funds from potential investors,which includes a Mumbai-based B2B logistics tech startup Freight Tiger gets a funding of $8 million from Lightspeed Venture Partners in a fresh funding round.

Freight Tiger will utilize the capital in expanding its product and technology, while connecting with more customers. It will also be leveraging artificial intelligence as well as machine learning and build industry specific AI extensions on the platform.

Ola Electric Mobility secured a funding of $250 million in its Series B round from SoftBank. With this, the company has made it to the list of unicorns in the Indian startup ecosystem.

Also read: Ola Electric plans to foray into Latin America market

While, the ride-hailing unicorn Ola also raised $11.37 million as a part of its ongoing Series J round. The funding came in from Swedish-based DIG Investment Ab and US-based Deshe Holdings.

Also read: Ratan Tata invests in Ola electric mobility

SucSEED Venture Partners led an investment in Hyderabad-based startup Sepal along with other angel investors. The funds raised will be used for product development and penetrating into the last-mile delivery market.

Whereas, a Mumbai-based skilling platform, Caymus Technology Ventures (Caymus), raised ₹1.2 crore in an angel round from a clutch of angel investors from India and the US.

Details ahead: Mumbai-based startup Caymus secures ₹1.2 cr from Indian, foreign investors

Silicon Valley technology leader Rob Solomon participated in the round and will join the advisory board as a mentor.

On the other hand, SuperZop, an agrarian B2B startup raised $1.16 million in pre-Series A from MS Fund of SIDBI Venture Capital Limited, IIM Ahmedabad’s technology incubator CIIE Initiatives, and angel investor Gurumurthy Raman.

The startup plans to use the funds to expand its existing store network, aiming to reach over 30,000 B2B customers over the next year.

Daalchini Technologies, a phygital vending machine company raised ₹3.5 crore in a seed round led by Artha Venture Fund. 

Besides, the mid and end of the week was occupied by some massive funds raising rounds, including Sachin Bansal’s new fund BAC Acquisitions invested about $1.4 million in debt funding in two-wheeler rental startup Bounce.

For details: Bounce raises ₹10 cr from Sachin Bansal’s BAC Acquisiton in debt funding

Bengaluru-based edtech startup Propelld raised ₹15 crore from Stellaris Venture Partners and India Quotient. With this funding, it plans to increase its base of institutes and students 10x over the next 18 months.

Bengaluru-based healthtech startup mfine raised ₹31 crore as venture debt from Alteria Capital. The capital is expected to be leveraged for growth as the startup aims to expand its hospital network to Delhi-NCR, Kolkata, Mumbai, and Chennai in the next six months.

New Delhi-based healthtech platform MedTrail raised ₹6.37 crore led by Strive, which alone invested Rs 2.2 crore via its second fund AT-II Investment.

For details: Delhi-based MedTrail raises ₹6.37 cr from LetsVenture, others

Further on, early-stage fund Ankur Capital invested an undisclosed amount in Delhi-based snack brand ToBeHealthy. This is the first institutional round raised by the startup and the funds will be used to expand its retail presence as well as set up manufacturing

Ratan Tata-backed Atlan raised around $2.62 million in its Pre-Series A round, led by WaterBridge Ventures. Atlan plans to use the freshly raised funds to boost its global expansion and leadership hiring in the near future.

For details: Data collaboration platform ‘Atlan’ bags ₹18 cr in Series A round led-by Water-Bridge Ventures

Online education startup upGrad acqui-hired Bengaluru-based CohortPlus for an undisclosed amount.

Internet-of-Things (IoT) logistics startup Intugine Technologies has raised an undisclosed amount from angel investors of IP Ventures (IPV). According to the company, it plans to deploy its newly raised capital to further strengthen its core software and hardware, and also expand its sales team.

Delhi-based startup First Step Digital, which builds women’s hygiene and intimate care products like PeeBuddy and Sirona, has raised an undisclosed follow-on investment from Indian Angel Network (IAN).

For details: Delhi-based Sirona raises an undisclosed amount from Indian Angel Network

Mumbai-based Rebel Foods raised $5 million in its larger ongoing Series D funding round from Indonesia-based Go-Jek.

Loadshare Networks, a Bengaluru-based logistics startup has raised an undisclosed amount from a group of angel investors.

Conclusively, the week ended with Mumbai-based gadgets and accessories etailer startup Gizmobaba.com raised $250,000 in a pre-Series A round. The investment was led by LetsVenture.


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