Funding in Indian startups this week (18 Jan-23 Jan)


This week 23 Indian startups raised funding, of which 20 received a total sum of about $118 million. Among them, DeHaat raised the highest funding of about $30 million followed by MFine, which raised around $16 million.

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

Below is the summary of deals closed this week

DarwinBox: HR technology platform DarwinBox has secured $15 million in a round led by Salesforce Ventures, the investment arm of global customer relationship management giant Salesforce.

Dunzo: Hyperlocal logistics company Dunzo has raised $12 million from new and existing investors including Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria Capital. With this, the Bengaluru-based firm has mopped up $40 million in its Series E round.

DeHaat: Online marketplace for farm services and products DeHaat has raised $30 million in its Series C round led by Prosus Ventures (previously Naspers). RTP Global and existing investors Sequoia Capital India, FMO, Omnivore and AgFunder also participated in the round.


Furlenco: Subscription-based online rental furniture platform Furlenco has raised $6 million in debt round from Black Soil Capital and Crescent Enterprises Limited.

MFine: Digital health startup MFine has raised $16 million in a funding round led by Heritas Capital along with participation from Singapore-based family office of Y’S Investment Pte Ltd.

Turnip: Game live streaming and community platform Turnip has raised $1.63 million in seed funding led by Elevation Capital along with participation from Better Capital.

AlphaICs: Edge AI technology startup AlphaICs has raised $8 million in Series B funding led by Endiya Partners and Emerald Technology Ventures.

ShopG: Social e-commerce platform ShopG has raised $1.5 million seed round from Orios Venture Partners and RPSG Ventures.

Possible: Nutrition-based healthcare company Possible has raised $0.68 million from Bollywood actor Aishwarya Rai Bachchan as part of its larger funding round.

Mindler: Comprehensive career guidance platform for students and educators Mindler has raised $1 million in a pre-series-A round led by Inflection Point Ventures.

Fashinza: B2B manufacturing marketplace Fashinza that solves apparel and fashion supply chain challenges has raised a seed funding of $2.6 million led by Accel Partners and Elevation Capital.

Dangal Games: Online skill-based gaming platform Dangal Games has raised $1 million in Series A round of funding from an undisclosed strategic investor.

Ripplr: Tech-enabled distribution and logistics ecosystem platform Ripplr has raised $3 million in Series-A funding from Zephyr Peacock India Growth Fund.

Gegadyne Energy: Deep tech startup developing non-lithium based quick charging battery technology Gegadyne has raised $5 million in its Series A funding round from V-Guard Industries.

MemeChat: Mumbai-based MemeChat has raised $0.15 million from early-stage venture fund 500 Startups as part of its accelerator programme.

CreditEnable: Venture Catalysts has invested $2 million in SME credit marketplace, CreditEnable along with its UK arm JPIN Venture Catalysts Ltd.

BeyondSkool: Live online upskilling academy for kids BeyondSkool has raised $2 million in seed round from Tomorrow Capital.

Lohum: Noida-based Lithium-ion battery pack manufacturer Lohum has raised $7 million in a round led by the investment firm, Baring Private Equity Partners India.

Udayy: Gurugram-based edtech startup Udayy has raised $2.5 million in a seed round led by Alpha Wave Incubation (AWI).

Inficold: Noida-based startup Inficold has raised $0.9 million in a funding round from RVCF and other undisclosed HNIs as a part of its Pre-Series A funding round.

Undisclosed deals this week

Salud Beverages, The Label Life and WealthDesk 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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