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funding

Funding in Indian startups this week (20 July-25 July)

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This week 15 Indian startups raised funding, of which 12 received a total sum of about $131 million. Among them, InCred raised the highest funding of about $66 million followed by MPowered, which raised $21 million.

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

Below is the summary of deals closed this week

Ather Energy: Electric scooter manufacturer Ather Energy has raised $11.2 million as a part of its Series C funding round from the existing backer, Hero MotorCorp.

InCred: Fintech platform that provides consumer and MSME loans, InCred has raised $66 million in a debt funding round from various public sector banks and public financial institutions.

Jodo: Fintech startup Jodo has raised $3.8 million in its seed funding round from Matrix Venture Partners, SAIF Partners and a clutch of angel investors.

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Bijnis: Business-to-business marketplace for unorganised retail segment, Bijnis has raised $10 million in its Series A round from Sequoia, Matrix Partners and its existing investors WaterBridge Ventures and Info Edge.

Entri: Local language learning app, Entri has closed its seed funding round after securing $1.7 million in the latest investment round led by Good Capital with participation from Kashyap Deorah and Hari TN participation.

Smartivity: New Delhi based toys design startup, Smartivity has raised $0.66 million in a Series D round from its existing backers — Ashish Kacholia, Ant Space, and Nirja Publishers.

Gigforce: Hyderabad-based on-demand staffing platform, Gigforce has raised $0.8 million in a funding round from Unitus Ventures.

VeGrow: Bengaluru-based agritech startup, VeGrow has raised $2.5 million in a seed funding round led by Matrix Partners and Ankur Capital. Better Capital, Titan Capital, Sanjiv Rangrass, Ramakant Sharma, and Amit Lakhotia also participated.

Sibros: Silicon Valley and Pune-based startup that is focussed on connected vehicle software, Sibros has raised $12 million in a Series A funding round led by Nexus Venture Partners.

MPowered: Asset management services provider to real estate owners, MPowered has raised $21 million in its pre-Series A funding round from a group of US-based high-net-worth individuals.

iNurture: A platform for formal higher education programmes in India, iNurture has raised $1.34 million in debt from existing investor BlackSoil Capital.

StyleDotMe: Fashion-technology company, StyleDotMe has raised $0.46 million in a pre-Series A funding round led by Survam Partners.

Undisclosed deals this week

SnackAmor, CloudWorx and Finin did not disclose their financial details.

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

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Funding in Indian startups this week (20 July-25 July)

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