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Funding in Indian startups this week (29 April- 04 May)


This week 17 Indian startups received funding, of which 13 received a total sum of about $166 million. Among them, Incred raised the highest funding of about $86 million followed by Blackbuck which raised about $24 million.

Meanwhile, funding for 4 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

Blackbuck: Logistics solutions marketplace Blackbuck has raised $24 million in the third tranche of its ongoing $150 million round.

Incred: Consumer and small and medium enterprises (SMEs) focussed digital lending app – Incred – has raised $85.89 million (Rs 406.63 crore) equity round led by Netherlands Development Finance Company (NDFC).

Milkbasket: Sachin Bansal’s BAC Acquisition has placed the first bet on consumer internet space by infusing $2.86 million debt in microdelivery app – Milkbasket.

Ftcash: Digital lending startup ftcash has raised $7.2 million in Series A funding round led by Accion, Dutch development bank FMO and VC fund IvyCap Ventures. The fund will be utilised to accelerate product development and expand into new geographies.

Sarva: Yoga and wellness chain Sarva has raised $6 million seed fund from pop icon Jennifer Lopez and her fiance, baseball icon Alex Rodriguez.

Pesto: Gurugram-based career accelerator startup for top software engineering talent Pesto has raised $2 million in a seed funding round led by Matrix Partners. Swiggy founders Sriharsha Majety, Rahul Jaimani, and Nandan Reddy along with  Innov8 founder Ritesh Malik, Posist founder Ashish Tulsian and OIC Capital’s Jack Yeung also participated in it.

Happy Loans: Tech-enabled short term loan provider Happy Loans has claimed to receive $20 million debt and equity round from a consortium of local and US-based investors.

Progcap: Lending startup Progcap which caters to last mile businesses has raised $1 million in seed funding led by early-stage venture capital firm growx ventures. Contrarian Drishti, along with angel investors Somak Ghosh and Abhishek Dalmia also participated in the round.

ZunRoof: Gurugram-based smart energy solutions provider ZunRoof has raised $1.2 million in its pre-series A round from Godrej family.

MiHup: AI-based vernacular voice assistant platform MiHup has raised $1.7 million from Accel Partners India and Ideaspring Capital.

Altizon: Pune based industrial IoT platform Altizon has raised $7 million in Series A round led by Singapore subsidiary of TVS motor company ( Singapore) Pte. Limited.

Vogo: Ola’s next move to enter dockless scooter sharing model through Vogo is bearing fruit for the latter as it has raised another equity round of $5.29 million from existing backers – Matrix, Kalaari, and Ola itself.

Flynote: Indian portfolio of Sequoia-Surge, Flynote is receiving another tranche of $2 million from both entities. Surge will put in Rs 8.89 crore whereas Sequoia will invest Rs 6 lakh. India Quotient is also participating in the round with Rs 5.16 crore via its fund  IQ Alpha III.

Undisclosed deals this week

Co-living startup Housr, fintech startup ChqBook, fashion tech startup StyleDotMe,  and fan-maker Atomberg 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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