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Funding in Indian startups this week (22 April-27 April)


This week 16 Indian startups received funding, of which 14 received a total sum of about $245 million. Among them, NinjaCart raised the highest funding of about $90 million followed by CleanMax Solar which raised about $40 million.

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

Below is the summary of deals closed this week:

MPL: Bengaluru-based real money gaming startup has closed $35.5 million Series A round led by Indonesian ride-hailing giant Go-Jek, Sequoia Capital and Times Internet Limited.

NinjaCart: Tiger Global has put in about $90 million Series C round in farm to business agritech firm NinjaCart.

DoubtNut: Multilingual instant doubt clearing app DoubtNut has raised $3.3 million from a clutch of investors including Sequoia, Waterbridge Ventures, Omidyar Network and Japanese mobile gaming company Akatsuki Inc.

Mfine: SBI Investment, a Japan-based venture capital firm and a subsidiary of the SBI Group, has led $17.2 million Series B round in healthtech startup Mfine.

ZestMoney: Consumer-centric digital lending startup ZestMoney has raised $20 million in Series B funding round led by US-based Quona Capital. Reinventure and existing backers Ribbit Capital, Omidyar Network and PayU also participated in the round.

Simsim: Live commerce startup Simsim led by ex Paytm and Foodpanda senior executives has closed about $1.5 million from several well-known angles including executives of Flipkart and Mckinsey.

GUVI: Edtech startup GUVI has raised $0.14 million in its first institutional round of funding from US-based investor – Gray Matters Capital’s edLABS.

Rapido: Bike taxi platform Rapido has raised $11.2 million led by Nexus Venture Partners. Rapido Holdings LLC, Integrated Capital, and Karina Choudhrie Tech Sponsors India also participated.

EnKash: B2B payments solution provider EnKash has raised $3 million in Series A round from Mayfield India and Axilor Ventures.

CleanMax Solar: Corporate-focused rooftop and open access solar company CleanMax Solar has raised around $40 million from UK Climate Investments LLP(UKCL).

Bounce: Scooter rental platform Bounce has raised another $3 million debt fund from InnoVen Capital. This is the second round of funding from the InnoVen, taking their total debt investment to $6 million.

Shuttl: Bus aggregator Shuttl has raised $5.87 Mn from a clutch of investors led by Proof.VC as a part of their Series B round.

Quick Ride: Car and bike-pooling startup Quick Ride has raised $14.4 million in Series B funding round from its existing investors Sequoia, Naspers and Venture Highway.

Leadstart Publishing: Publishing house Leadstart Publishing has raised $0.42 million in a funding round led by Mumbai Angels Network. JITO Angel Network and Hyderabad-based SucSEED Venture Partners also participated.

Undisclosed deals this week

Agritech Startup FreshoKartz, logistics startup CarterX 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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