From Haber To Urja Mobility – Indian Startups Raised $114 Mn This Week
by Akshit Pushkarna · Inc42SUMMARY
- Indian startups cumulatively raised $114 Mn across 22 deals, a 32% increase from $86.4 Mn raised across 16 deals last week
- Deeptech emerged as the investor favourite sector this week on the back of Haber’s $38 Mn fundraise
- Seed funding picked up this week to $17.8 Mn from $1.9 Mn last week
- Added to Saved Stories in Login
After a significant drop in funding trends leading into the month of October, investor sentiment picked up slightly in the second week of the month. Indian startups raised $114 Mn via 22 deals during October 7-12, up 32% from $86.4 Mn raised last week across 16 deals.
This was the second week when no mega funding rounds materialised. This came after a quarter filled with heightened funding interest. In the third quarter of calendar year 2024, Indian startup funding doubled year-on-year to $3.4 Bn from $1.7 Bn in the same period last year. Late-stage investments surged 115% to surpass the $2.1 Bn mark in the September quarter this year from $984 Mn in Q3 2023.
RECOMMENDED FOR yOU
Distributors’ Body Flags Use Of Private Vehicles By Ecommerc...
Bhupendra P.
12th October, 2024
Zetwerk To Invest INR 500 Cr To Expand Renewables Manufactur...
Anne F.
12th October, 2024
Drug Maker Novo Nordisk Working With 10 Indian AI Startups
Team Inc42
12th October, 2024
Funding Galore: Indian Startup Funding This Week [Oct 7-12]
| Date | Name | Sector | Subsector | Business Model | Funding Round Size | Funding Round Type | Investors | Lead Investor |
| 10 Oct 2024 | Haber | Deeptech | Robotics Process Automation (RPA) | B2B | $38 Mn | – | Accel India, Beenext Capital, Creaegis | – |
| 9 Oct 2024 | Spry Therapeutics | Healthtech | Healthcare SaaS | B2B | $15 Mn | – | Flourish Ventures, Together Fund, Fidelity’s Eight Road Ventures, F Prime Capital | Flourish Ventures |
| 10 Oct 2024 | Millenium Babycares | Ecommerce | D2C | B2C | $14.5 Mn | – | Pantamoth Capital | Pantamoth Capital |
| 9 Oct 2024 | Urja Mobility | Cleantech | Electric Vehicle | B2B | $12 Mn | pre-Series A | Mufin Green Finance Limited, Hindon Mercantile Limited | Mufin Green Finance Limited, Hindon Mercantile Limited |
| 7 Oct 2024 | XDLINK | Deeptech | Spacetech | B2B | $7 Mn | Seed | Ashish Kacholia, E2MC, Mana Ventures | Ashish Kacholia |
| 9 Oct 2024 | BioPrime | Agritech | Farm Inputs | B2B | $6 Mn | Series A | Edaphon, Omnivore, Inflexor | Edaphon |
| 8 Oct 2024 | Dezy | Healthtech | Telemedicine | B2C | $6 Mn | – | Alpha Wave, Chiratae Ventures, Peak XV | – |
| 9 Oct 2024 | Swara Fincare | Fintech | Lendingtech | B2B | $2.3 Mn | Series A | Unitus Capital, Piper Serica, Dev Verma, Mukund Madhav, Sumit Ranjan | Unitus Capital |
| 9 Oct 2024 | Figr | Enterprisetech | Horizontal SaaS | B2B | $2.2 Mn | Seed | Kalaari Capital, Antler, Golden Sparrow | Kalaari Capital |
| 9 Oct 2024 | LearnTube | Edtech | Skill Development | B2C | $2 Mn | Seed | Blitzscaling Ventures, Goodwater Capital, Bisk Ventures, ACT | – |
| 7 Oct 2024 | Framer AI | Enterprisetech | Horizontal SaaS | B2B | $2 Mn | Seed | Lumikai | Lumikai |
| 7 Oct 2024 | Nayan Tech | Enterprisetech | Horizontal SaaS | B2B | $2 Mn | pre-Series A | BEENEXT, We Founder Circle, Venture Catalysts, LetsVenture, FAAD Capital | BEENEXT |
| 9 Oct 2024 | ZenStatement | Fintech | Fintech SaaS | B2B | $1.6 Mn | Seed | 3One4 Capital, Boldcap VC, Dynamis Ventures, Atrium Angels | 3One4 Capital, Boldcap VC |
| 10 Oct 2024 | Datazip | Enterprisetech | Horizontal SaaS | B2B | $1 Mn | Seed | Equirus InnovateX Fund | Equirus InnovateX Fund |
| 4 Oct 2024 | Holiday Tribe | Travel Tech | Travel Planning & Activities | B2C | $642K | Seed | Powerhouse Ventures, GSF, Dinesh Agarwal, Dinesh Gulati, Murugavel Janakiraman, Gaurav Kapur | Powerhouse Ventures, GSF |
| 10 Oct 2024 | Onlygood.ai | Cleantech | Climate Tech | B2B | $475K | Seed | IITMIC, Goel Group, DICV | – |
| 9 Oct 2024 | iRasus Technologies | Cleantech | Electric Vehicle | B2B | $475K | Seed | IAN Group, DFAN | IAN Group |
| 10 Oct 2024 | flutrr | Media & Entertainment | Social Media & Chat | B2C | $446K | – | Zee Media Corporation | Zee Media Corporation |
| 10 Oct 2024 | Social Hardware | Deeptech | Robotics Process Automation (RPA) | B2B | $381K | Seed | Inflection Point Ventures, Ivyleague Ventures, Soonicorn Ventures | Inflection Point Ventures |
| 9 Oct 2024 | Deftouch | Media & Entertainment | Gaming | B2C | – | – | KRAFTON, T-accelerate Capital, Lumikai, Visceral Capital, Play Venture | KRAFTON, T-accelerate Capital, Lumikai |
| 8 Oct 2024 | Jivi AI | Healthtech | Personal Health Management | B2C | – | – | Andrew Ng | Andrew Ng |
| Source: Inc42 *Part of a larger round Note: Only disclosed funding rounds have been included | ||||||||
Key Startup Funding Highlights Of The Week
- Artificial intelligence (AI)-based robotics startup Haber bagged the biggest cheque this week, securing $38 Mn (INR 317 Cr) by issuing Series C CCPS to venture capitalist (VC) firms Accel India, Beenext Capital, and Creaegis.
- On the back of Haber’s funding round, deeptech toppled enterprise tech to emerge as the investor favourite sector this week. Deeptech startups raised $45.4 Mn across three deals this week.
- However, enterprise tech saw the most number of deals materialise this week. Startups in the sector raised $7.2 Mn across four deals this week. Trailing it were deeptech and cleantech, with both the sectors seeing a similar number of three deals.
- Beenext and Lumikai emerged as the most active investors this week, backing two startups apiece. While Beenext invested in Haber and Nayan Tech, Lumikai backed Framer AI and Deftouch.
- Seed funding picked up this week to $17.8 Mn from $1.9 Mn last week.
Fund Launches This Week
- Lighthouse Canton and Nueva Capital’s joint venture LC Nueva Investment Partners announced the launch of a new fund with a target corpus of INR 150 Cr (nearly $18 Mn), with an additional greenshoe option of INR 100 Cr ($12 Mn).
- Recently listed non-banking financial company (NBFC) Northern Arc announced the launch of its category-II alternative investment fund (AIF) Finserv Fund, with a target corpus of INR 1,500 Cr (around $178.5 Mn).
Updates On Indian Startup IPOs
- Over three months after filing its draft red herring prospectus (DRHP), logistics startup BlackBuck received market regulator SEBI’s go ahead for its INR 550 Cr IPO.
- B2B marketplace unicorn Zetwerk has initiated initial discussions with investment banker JP Morgan for its IPO, sources told Inc42 this week. The startup is eyeing a public listing in the next two years.
- Shortly after raising $210 Mn, edtech startup PhysicsWallah has roped in Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as the bankers for its IPO.
Other Developments Of The Week
- Fresh to the unicorn club, ride hailing major Rapido is eyeing raising $60 Mn from Prosus in a mix of primary and secondary share sales.
- In a bid to capitalise on the fintech investment boom, offline mobile payments startup ToneTag is looking to bag $50 Mn from investor Iron Pillar and others in a mix of primary and secondary share sale.
- VC firm Z47 (erstwhile known as Matrix Partners) is looking to sell shares of unicorns Ola, OfBusiness, Razorpay, and DailyHunt, cumulatively worth between $150 Mn and $180 Mn.
- Hyperlocal services startup Urban Company is likely to see a $30 Mn secondary transaction with its investor Prosus buying shares from Bessemer Venture Partners.
- The Good Glamm Group announced the complete acquisition of D2C feminine hygiene startup Sirona for INR 450 Cr this week.
- Bhavish Aggarwal-led Ola Consumer has sought approval from investors to turn into a public entity.