Funding in Indian startups this week (18 Feb-23 Feb)


This week 12 Indian startups received funding, of which 10 received a total sum of about $121 million. Among them, Ola raised the highest funding of about $92 million followed by ZipLoan, which raised $12.6 million in Series B round.

Meanwhile, funding for 2 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

Ola: Cab hailing major Ola has officially confirmed the investment of $92 million from Flipkart founder Sachin Bansal. So, we are including the whole funding amount in this weekly report.

Dunzo: Task management and last mile delivery startup Dunzo has raised around $0.4 million from Deep Kalra, founder and group CEO of MakeMyTrip in the ongoing Series C round.

SpotDraft: Legaltech startup SpotDraft has raised $1.5 million in pre-Series A round led by Binny Bansal-backed 021 Capital while Freshworks co-founder Girish Mathrubootham and Google executive Peeyush Ranjan and others also participated in the round.

SilverPush: Gurugram-based marketing technology platform SilverPush has raised $5 million in its series B funding round led by FreakOut Holdings, a Tokyo-based marketing technology company.

Xpressbees: E-commerce logistics firm Xpressbees has raised about $5 million in debt funding round from InnoVen Capital.

ZipLoan: SMEs-focused lending startup ZipLoan has raised $12.6 million in its Series B round led by SAIF Partners. The round also saw participation from existing investors Matrix Partners India, Waterbridge Ventures and Whiteboard Capital.

Pickyourtrail: Bootstrapped traveltech startup Pickyourtrail has raised $3 million in its Series A round led by Zoho Corp co-founder Kumar Vembu and financial services company iThought’s founder Shyam Sekhar.

Wishbook: Sales catalog aggregation app Wishbook has raised $0.28 million from Info Edge.

Royal Brothers: Bike rental brand Royal Brothers has raised $1 million in a pre-Series A round from angel investors such as Pradeep Deviah, Amrith Prasad and others.

Turms: Bengaluru-based apparel brand Turms, has raised around $0.28 million from Myntra’s co-founder Raveen Sastry and PremjiInvest partners Rahul Garg and Atul Gupta.

Undisclosed deals this week

Hyderabad-based beauty subscription platform GlamEgo and Ahmedabad-based Optimized Electrotech did not disclose their financial details on funding.

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

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