Funding in Indian startups this week (02 Nov-07 Nov)


This week 23 Indian startups raised funding, of which 18 received a total sum of about $107 million. Among them, Ather Energy raised the highest funding of about $35 million followed by WheelsEMI, which raised $14.8 million.

Meanwhile, funding for 5 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 $35 million (Rs 260 crore) in its Series D round led by Sachin Bansal. Existing investor, Hero MotoCorp has picked up preference shares worth Rs 90 crore in the EV maker.

Shruti Gupta | Entrackr

Mobikwik: Digital payments platform Mobikwik has raised $5.6 million as a part of its Series E round from Hindustan Media Ventures.

LetsTransport: Enterprise-focused logistics marketplace for intra-cities delivery, LetsTransport has raised around $7.6 million or Rs 56 crore from its existing investors in what appears to be an extended Series B funding round for the Bengaluru-based company.

DocsApp: Online doctor consultation startup DocsApp has raised $8 million in a new funding tranche led by JAFCO Asia Tech Fund and Team Fund LP.

Rivigo: Surface logistics company Rivigo has secured $11.4 million in its Series G funding round from the existing backer Elevation Capital (formerly SAIF Partners). This is the maiden equity financing for the company in 2020.

GlowRoad: Social commerce startup GlowRoad has raised $7 million in a fresh funding round from its existing investors making it the maiden financing for the Bengaluru-based firm in 2020.

Fedo: Insurtech startup Fedo has raised $1 million in a pre-Series A funding round led by Unicorn India Ventures and a list of angel investors including former Max Bupa managing director & CEO Ashish Mehrotra.

Bizlog: Logistics startup Bizlog has raised $1.62 million in a pre-Series A funding round led by IAN Fund.

Routematic: Bosch’s India unit has invested $2 million (Rs 14.8 crore) in urban mobility startup Routematic at a valuation of $28 million.

TurboHire: Hyderabad-based AI-driven recruitment platform TurboHire has raised $1 million in seed funding from a series of institutional and individual investors.

Eggoz: Bihar-based agritech startup Eggoz has raised $1.5 million in a pre-Series A round from Avaana Capital and Rebright Partners.

WheelsEMI: Two-wheeler financer WheelsEMI has raised $14.8 million in series C funding amid rising demand for used two-wheelers post the pandemic.

Charcoal Eats: Mumbai-headquartered quick service restaurant (QSR) startup Charcoal Etas has raised $2.16 million in a funding round led by Lokmat Investments.

Gully Network Retail: Grocery tech startup Gully Network Retail has raised $1.2 million in its pre-Series A round from Venture Catalysts, Inflection Point Ventures, and DFAN.

AjnaLens: Mumbai-based AR/VR hardware startup AjnaLens has raised $1 million in a bridge round led by Oman-based conglomerate Mohsin Haider Darwish (MHD) Group and angel investors from India.

Stones2milestones: Education technology firm, which owns and operates Freadom, has raised around $2.56 million in a bridge funding round led by Unreasonable Capital and Goldhrish Foundation.

CHARGE+ZONE: Electric vehicle charging startup CHARGE+ZONE has raised $3 million in pre-Series A round led by Venture Catalysts. Influencer-led live social gaming platform has raised $0.33 million from 9Unicorns, Kunal Bahl, Rohit Bansal and FirstCheque.

Undisclosed deals this week

GalaxyCard,, ChopServe, Mitron Tv and Lattu Kids 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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