Funding in Indian startups this week (28 May-02 June)


This week 13 startups received funding with a total sum of about $233 million. Among them, Pine Labs raised the highest investment of $125 million, followed by Qtrove which raised about $51.5 million.

Below is the summary of deals closed this week:

List of disclosed funding deals this week

CoinTribe: MSMEs-focused credit based lending marketplace CoinTribe has raised $10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia.

Pine Labs: Temasek Holdings and PayPal have acquired a minority stake for about $125 million in payment acceptance solution Pine Labs. Both investors will essentially be picking up secondary shares from promoters and Sequoia Capital.

Stellapps: Agritech startup Stellapps has raised $14 million in one of the largest equity funding rounds led by Bill and Melinda Gates Foundation and IndusAge Partners, among others.


ToneTag: ToneTag, which offers a new kind of digital payment solution—based on sound wave technology, has raised about 10 million from a group of investors led by Amazon Inc. and Mastercard.

Toffee Insurance: Kalaari Capital and Omidyar Network and Accion Venture Lab have led a $1.5 million seed round in digital-only insurance startup Toffee insurance.

Acko: Online-only insurance startup Acko has raised $12 million in Series A round led by e-commerce giant Amazon. New investor Ashish Dhawan, the founder of PE firm ChrysCapital and existing investor Catamaran Ventures, owned by Narayana Murthy, also participated in the funding round.

Picxy: Stock photo startup Picxy has raised an investment of $0.13 million from individuals who are at senior levels in Amazon and technology company Cisco.

CredRight: Fintech start-up CredRight has raised about $1.3 million from Accion Venture Lab and YourNest.

Orowealth: Fintech company Orowealth announced on Tuesday that it has raised $1.6 million in Series A funding led by Powerhouse Ventures.

YCook: Ready-to-cook processed foods startup YCook has raised $5 million in a Series-B round from venture capital firm 021 Capital, Netherlands-based impact fund Oikocredit and existing backer Omnivore.

Myforexeye: Noida-based foreign exchange products and services provider, Myforexeye has raised bridge round funding of $0.5 million from InRhythm Energy.

HellWell24: Home healthcare aggregator HealWell24, has raised angel funding of $0.2 million from three high-net-worth individuals.

Qtrove: Bengaluru-based curated marketplace Qtrove has raised $51.5 million from Springboard Ventures–an investment arm of Times Group’s holding company Bennett, Coleman & Co Ltd (BCCL).

*Every week we track startups that have raised fresh investment. Stay tuned for next week funding roundup.

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