From Whatfix To HomeLane – Indian Startups Raised $432 Mn This Week

by · Inc42

SUMMARY

  • Indian startups cumulatively raised $432.2 Mn across 24 deals, a 3% decline from the $447.5 Mn raised last week via 22 deals
  • The week saw two mega funding round materialise with Whatfix’s $125 Mn fundraise and M2P Fintech’s $101 Mn raise
  • Peak XV emerged as the most active investor this week, backing Atlys and The Health Factory
  • Added to Saved Stories in Login

Funding momentum across the Indian startup ecosystem continued to remain strong throughout the ongoing month. Between September 23 and 28, startups cumulatively raised $432.2 Mn across 24 deals, marking a 3% drop from the $447.5 Mn raised via 22 deals in the preceding week.

This week, the uptick in investment activity was largely driven by two large-sized deals, which include enterprisetech startup Whatfix bagging $125 Mn and M2P Fintech securing $101 Mn, with both nearing the unicorn status.

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Funding Galore: Indian Startup Funding Of The Week [ Sep 23 – Sep 28 ]

DateNameSectorSubsectorBusiness ModelFunding Round SizeFunding Round TypeInvestorsLead Investor
25 Sep 2024WhatfixEnterprisetchHorizontal SaaSB2B$125 MnSeries EWarburg Pincus, SoftBankWarburg Pincus
24 Sep 2024M2P FintechFintechFintech SaaSB2B$101 MnSeries DHelios Investment Partners, Flourish VentureHelios Investment Partners
24 Sep 2024Qure.aiHealthtechHealthtech SaaSB2B$65 MnSeries DLightspeed Venture Partners, 360 ONE Asset Management, Merck Global Health Innovation Fund, Kae Capital, Novo Holdings, Health Quad, TeamFundLightspeed Venture Partners, 360 ONE Asset Management
24 Sep 2024Nurix AIEnterprisetchHorizontal SaaSB2B$27.5 MnSeedAccel, General Catalyst, Meraki LabsAccel, General Catalyst
25 Sep 2024HomeLaneReal Estate TechReal Estate ServicesB2C$27 Mn–Hero Enterprise–
25 Sep 2024AdOnMoEnterprisetchHorizontal SaaSB2B$25 Mn–Rigel Capital, Sinar MasRigel Capital, Sinar Mas
24 Sep 2024AtlysTravel TechTravel Planning & ActivitiesB2C$20 MnSeries BPeak XV Partners, Elevation CapitalPeak XV Partners
23 Sep 2024The Wellness CoConsumer ServicesHyperlocal ServicesB2C$7.1 Mn–EaseMyTripEaseMyTrip
26 Sep 2024Two Point OCleantechClimate TechB2B$6.3 MnSeedOmnivore, Multiply Ventures, RTP Global, GrowX, Spectrum ImpactOmnivore
25 Sep 2024Ahammune BiosciencesHealthtechHealthcare ServicesB2B$5 MnSeries Api Ventures, Capital2B, Colossa Ventures, Bipin Agarwal, Unicornus Maximus, Ideaspring Capital, Kotak Alternate Assets, Legacy Assets LLP, IANpi Ventures
24 Sep 2024CoRoverEnterprisetchHorizontal SaaSB2B$4 MnSeries AVenture Catalysts, CanBank Venture Capital Fund, IIM Calcutta, IIIT Delhi, Cogniphy LLC, Karekeba Ventures, Lead AngelsVenture Catalysts
25 Sep 2024The Health FactoryEcommerceD2CB2C$3.5 MnSeedPeak XV, Kartik Mehta, Aliasgar Tambawala, Sunil TulsianiPeak XV
25 Sep 2024AtomicworkEnterprisetchHorizontal SaaSB2B$3 MnSeedRich Waldron, Avanish Sahai, Arun Penmetsa–
27 Sep 2024VedantuEdtechK-12B2C$2.4 MnDebtStride VenturesStride Ventures
24 Sep 2024Tuco IntelligenceEcommerceD2CB2C$2 MnSeedFireside Ventures, Whiteboard Capital, Suashish Group, Vijay Nehra, Arjun PurkayasthaFireside Ventures, Whiteboard Capital
25 Sep 2024jhana.aiEnterprisetchVertical SaaSB2B$1.6 Mn–Together Fund, Shyamal Anadkat, Scott Davis, Harshil Mathur, Shashank Kumar, CKunal Shah, Cory Levy, Ojas ShuklaTogether Fund
26 Sep 2024First CoffeeConsumer Services–B2C$1.2 MnSeedBEENEXT, Ashish Gupta, AngelList India, Ritesh Malik, Sahil MalikBEENEXT
25 Sep 2024aarna.mlEnterprisetchHorizontal SaaSB2B$1.2 MnSeries AExfinity Venture PartnersExfinity Venture Partners
24 Sep 2024PepsalesEnterprisetchHorizontal SaaSB2B$1.1 Mnpre-SeedChiratae VenturesChiratae Ventures
24 Sep 2024ORIGHTAgritechMarket LinkageB2B$1 MnSeedAeravti VenturesAeravti Ventures
26 Sep 2024Care.fiHealthtechHealthtech SaaSB2B$956KDebtWint Wealth, Caspian Debt–
25 Sep 2024FlentReal Estate TechShared SpacesB2C$776Kpre-SeedWEH Ventures, AM Ventures, Pareto Holdings, Sanchan S Saxena, Aneesh Reddy, Arjun Vaidya, Shradha Sharma, Abhilash NWEH Ventures
23 Sep 2024Sharang ShaktiDeeptechDefencetechB2B$598Kpre-SeedAUM Ventures, Venture Highway, JK Group Family office, Appreciate CapitalAUM Ventures, Venture Highway
23 Sep 2024TraqCheckEnterprisetchHorizontal SaaSB2B–SeedCaret Capital, Alok Oberoi, Aakash AnandCaret Capital, Alok Oberoi
Source: Inc42
*Part of a larger round
Note: Only disclosed funding rounds have been included

Key Startup Funding Highlights Of The Week

  • Buoyed by Whatfix’s mega funding round, enterprisetech emerged as the investor favourite sector of the week. Besides, the sector witnessed the highest nine deals materialise via which startups raised $188.4 Mn.
  • Fintech was a distant second, seeing M2P Fintech raising $101 Mn only.
  • Venture Capital firm Peak XV was the most active investor this week, backing two startups.
  • Seed funding picked up dramatically this week. Startups at this stage raised $44.5 Mn as against the $2.3 Mn raised during the past week.

Startup Fund Launches Of This Week

  • SaaS startup Kissflow’s founder and CEO Suresh Sambandam launched a new VC firm MudhalVC, which aims to invest around INR 125 Cr in 25 to 50 early stage startups, with average ticket size ranging between INR 25 Lakh and INR 1 Cr.
  • VC firm Tribe Capital has partnered with investment firm Oister Global to launch ‘Oister Tribe Ace Fund 1’. With a target corpus of $500 Mn, the fund will serve as the  first alternative investment fund dedicated to secondary transactions.
  • Bengaluru-based AIF Optimistic Capital rolled out a maiden fund INR 200 Cr (around $23.9 Mn) to invest in India’s microbrewery space.

Updates On Indian Startup IPOs

  • Fintech unicorn MobiKwik secured approval from the Securities and Exchange Board of India (SEBI) for its INR 700 Cr initial public offering (IPO). The offer will entirely comprise a fresh issue of equity shares, with no offer for sale component.
  • Foodtech major Swiggy filed updated IPO papers with the SEBI for an INR 3,750 Cr ($450 Mn) IPO. Swiggy’s public issue will comprise a fresh issuance of shares worth INR 3,750 Cr and an offer for sale (OFS) component of 18.53 Cr equity shares.
  • Online furniture rental startup RentoMojo’s founder and CEO Geetansh Bamania will be looking to file its IPO within the next 18 months.
  • SaaS unicorn Fractal is considering filing papers for a $500 Mn IPO with SEBI in November. The IPO will value the startup at $3.5 Bn.

Other Developments Of The Week