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Funding in Indian startups this week (06 Aug-11 Aug)


This week 18 startups received funding, of which 10 received a total sum of about $188 million. Among them, PhonePe raised the highest investment of $66 million, followed by ZipGo which raised about $44 million.

Meanwhile, funding for 8 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

List of disclosed funding deals this week

ZipGo: Bus aggregator ZipGo has raised about Rs 300 crore (approx $44 million) Series B round from Essel Infra, an infrastructure arm of the Essel group.

Weekly Funding

Metro Bikes: Motorcycle and scooter-sharing startup has raised $12.2 million in funding from Sequoia India and Accel Partners, along with a consortium that includes Raghunandan G, founder of TaxiForSure.

Hansel.io: Mobile application management platform Hansel.io has raised $4 million in a round led by Vertex Ventures. Existing investors IDG Ventures India and Endiya Partners also participated in the financing round.

PhonePe: Flipkart has infused $66 million (Rs 452 crore) into its payments arm PhonePe.

Shadowfax: E-commerce and hyperlocal focused B2B logistics platform Shadowfax has raised $22 million in Series C funding led by Nokia Group Partner (NGP) Capital. Qualcomm Ventures, Mirae Asset, and existing investor Eight Roads Ventures also participated in the round.

ShopX: Assisted e-commerce platform ShopX, which partners with retailers and local kirana store owners in smaller towns, has raised $35 million from Fung Strategic Holdings.

HappyEMI: Consumer finance company HappyEMI has raised $1 million from AJ Ventures and Jain International Trade Organisation Angel Network.

Quizizz: Edtech startup Quizizz has raised $3 million in a round led by Nexus Venture Partners with participation from existing investors Prime Venture Partners and angels.

Propelld: Bengaluru-based fintech startup Propelld has raised $0.25 million in seed funding from Indian Angel Network and IAN Fund.

Prest Loans: Digital lending platform Prest Loans has secured debt funding of about $0.25 million from AU Small Finance Bank, INCRED, MAS Finance, and others.

Undisclosed deals this week

Chennai-based sports tech startup Run Adam, kidtech startup OckyPockyNestAway, Mswipe, Lenskart, Guardian Healthcare, Olly Credit, hyperlocal video news platform Lokal did not disclose their financial details.

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

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