Funding in Indian startups this week (17 May-22 May)


This week 22 Indian startups raised funding, of which 19 received a total sum of about $600 million. Among them, Pine Labs raised the highest funding of about $285 million, followed by Moglix, which raised $120 million.

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

Below is the summary of deals closed this week

Pine Labs: Point-of-sale device company and merchant commerce platform Pine Labs has scooped up $285 million in a new round from Baron Capital Group, Duro Capital, Marshall Wace, Moore Strategic Ventures and Ward Ferry Management.

Moglix: B2B industrial goods marketplace Moglix has raised $120 million in its Series E funding round led by Falcon Edge Capital and Harvard Management Company.

Ninjacart: Fresh produce supply chain startup Ninjacart has raised $9.5 million in a new round from its existing investor Syngenta Ventures.

Lenskart: Global investment firm KKR is leading Delhi-based multi-channel eyewear brand Lenskart’s latest fundraising round with an infusion of $95 million.


ANSR: ANSR, which helps multinational firms set up global capability centres, has raised $15 million in Series-B funding from Sistema Asia Fund and Evolvence India Fund.

Esper: Android-based development and operations platform, Esper has raised $30 million as a part of its Series B funding round led by Scale Venture Partners.

BricSpaces: Bengaluru-based proptech startup BricSpaces has raised $0.35 million in a pre-seed round from Freshworks co-founder Shan Krishnasamy, serial tech investor Bharat Kapoor and others.

Wysa: AI-powered mental health app Wysa has raised $5.5 million in a Series A funding round led by Boston-based digital health investors W Health Ventures.

Magenta EV: Navi Mumbai-based electric vehicle charging solutions company, Magenta EV Solutions has raised over $15 million in Series A funding.

BlissClub: Women’s activewear brand BlissClub has raised $2.25 million in seed funding led by Elevation Capital.

Agnikul: Spacetech startup Agnikul has raised $11 million in a Series A round led by Mayfield India. Beenext, Globevestor, LionRock Capital and others also participated.

High Street Essentials: High Street Essentials (HSE), which owns brands FabAlley and Indya, has raised $3.4 million led by existing investors Elevation Capital, India Quotient, Dominor Holding and family offices.

Virohan: Gurugram-based health education startup Virohan has raised additional funding from Rebright Partners summing up its Series A round at $3 million.

Fabheads: Chennai-based deeptech startup Fabheads, which manufactures carbon fiber parts has raised $1.08 million in a pre-Series A round from Inflection Point Ventures.

Upswing Cognitive Hospitality Solutions: Pune-based new-age predictive data solutions startup Upswing Cognitive Hospitality Solutions has raised $0.15 million from Australia’s Framed Venture Capital.

ClassMonitor: Indore-based homeschooling-focused edtech startup ClassMonitor has raised $0.5 million in pre-Series A funding led by PATH India and Gulf investors.

BankSathi: Delhi-based fintech startup BankSathi Technologies has raised $0.2 million in a seed funding round from a group of angel investors.

Karbon Card: Fntech startup Karbon Card has raised $1.2 million in a pre-series A round of funding that saw the participation of existing investors Orios Venture Partners along with MyAsiaVC.

Reccy Adventures: Adventure sports startup Reccy Adventures raised $0.45 million in a seed round from Jaydeep Barman and Kallol Banerjee, founders of cloud-kitchen startup Rebel Foods.

Undisclosed deals this week

Spark Studio, Keito and ParkSmart 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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