phi commerce

Funding in Indian startups this week (19 Aug-24 Aug)

phi commerce

This week 15 Indian startups raised funding, of which 12 received a total sum of about $219 million. Among them, Mpower closed the highest funding of $100 million followed by Grofers, which raised $70 million.

Meanwhile, funding for 3 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week:

INDwealth: Wealth Management platform INDwealth has raked in a $15 million funding round led by Tiger Global Management.

Grofers: Online grocery platform Grofers has received $70 million worth tranche as a part of Series F round from SVF Growth valuing the company at around $ 567.34 million. The latest tranche is a part of the $200 million round that was announced earlier this year by the Masayoshi Son-led group.

Shruti Gupta | Entrackr

Mpower: Education loan provider Mpower has raised debt capital worth $100 million from the American investment bank, Goldman Sachs. The debt will be used to fund loans with a long term goal of growth in India.

HungerBox: Corporate and office caterer HungerBox has raised $2.2 million in series C funding round from Paytm’s parent One97 Communications and Sabre Partners Trust.

vPhrase: AI platform vPhrase Analytics has raised $2 million in series A round from US-based Falcon Edge Capital and Bharat Innovation Fund.

Infra.Market: B2B infrastructure marketplace Infra.Market has raised $3.5 million in a seed round from Accel Partners to expand its product line.

AdmitKard: University admissions startup AdmitKard has raised $1 million in a round led by Australian EdTech fund Growth DNA with the participation from investors based out of Australia and India.

Ally: Business Execution startup Ally has raised $8 million in a Series A round led by Accel with participation from Founders Co-op, Vulcan Capital, and Lee Fixel.

Instoried: Artificial intelligence-driven deep tech content startup, Instoried has raised $0.5 million in a seed funding round from Venture Catalysts.

Aviom: Aviom Housing Finance has raised $8.3 million in its series B round from Japanese investors Gojo and Company, Inc Japan, and Netherlands-based Capital 4 Development Asia Fund.

Lo! Foods: Angel investors Rashmi Daga (founder, FreshMenu), Raveen Sastry (co-founder, Myntra) and Mitesh Shah (finance chief, BookMyShow) have invested $0.5 million in Lo! Foods.

SILA: Property and project management company, SILA, has raised $7.84 million from multi-stage investment firm Norwest Venture Partners.

 Undisclosed deals this week

Dose FM, Global eSports, and Mishry 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

Send Suggestions or Tips