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Funding in Indian startups this week (21 June-26 June)

This week 36 Indian startups raised funding, of which 23 received a total sum of about $221 million. Among them, Classplus raised the highest funding of about $65 million, followed by Byju’s, which raised $50 million.

Meanwhile, funding for 13 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week

Gaana: Music and podcast streaming app Gaana has raised $40 million from existing investor Tencent.

Classplus: B2B edtech startup Classplus has raked in $65 million in its Series C round led by Tiger Global. GSV Ventures, Falcon Edge’s AWI, Blume Ventures and RTP Global also participated in the round. The Noida-based had already received $30 million of this round last week so we’ll add only $35 million to the total.

Byju’s: Edtech company Byju’s has raised another $50 million from two new investors – India Infoline Finance Limited and Maitri Edtech.

GoMechanic: Spare parts and multi-brand car workshop GoMechanic has raised $42 million in a Series C funding round led by Tiger Global Management. Since Entrackr had already reported the first $35 million tranche on June 7, only $7 million will be added to the total amount raised in this weekly funding round up.

Funding

Progcap: Fintech startup Progcap, which facilitates debt capital for underserved micro and small businesses, has scooped up $25 million as part of its Series B investment led by Tiger Global and existing investor Sequoia Capital India.

CityMall: Social commerce company CityMall has raised $22.5 million as part of its Series B investment round led by General Catalyst and Jungle Ventures with participation from existing investors Accel, Elevation Capital and WaterBridge Ventures.

The Man Company: Men focused direct to consumer or D2C grooming brand The Man Company has raised around $6.7 million primary capital from Emami making it the third investment by the FMCG major in the six-year-old Gurugram-based company.

Skillmatics: D2C educational product brand Skillmatics has raised $6 million in its Series A funding led by Sequoia Capital India. Jalaj Dani Family Office and existing angel investors also participated. Earlier in April 2019, it had raised $1.5 million in its seed round.

WealthDesk: B2B2C Investment technology platform WealthDesk has closed its $3.2 million pre-Series A funding led by Former Blackstone Partner and co-head of India PE, Mathew Cyriac

WINDO: Instagram focused commerce startup WINDO has raised $0.5 million in its seed round led by Unicorn India Ventures.

BimaPe: BimaPe, a Mumbai-based insurtech startup that simplifies insurance for working professionals, has raised $0.54 million in a pre-seed round led by Lightspeed. Titan Capital, iSeed and Gemba Capital also participated in the round.

Bueno Finance: Fintech startup Bueno Finance has raised $3 million in its seed round led by Goat Capital and JAM Fund. Notable angel investors such as Kunal Shah and Anupam Mittal also participated. The funds will be used in the expansion of the product, and to strengthen its team.

Bimaplan: Insurtech platform Bimaplan has raised $2.5 million in its pre-Series A round led by global VC funds Amino Capital, Goodwater Capital. Existing investors and angels also participated.

Rocketlane: B2B software-as-a-service startup, Rocketlane has raised $3 million in seed funding from Matrix Partners India and Nexus Venture Partners.

Grinntech: Manufacturer of lithium-ion batteries for electric two-wheelers, Grinntech has successfully closed a bridge funding round of nearly $2 million.

Upside AI: Investment management startup Upside AI has raised $1.2 million in its seed round of funding led by Endiya Partners. Vijay Kedia, Ajay Nanavati and other investors also participated. The funds will be used to enlarge its distribution, product and tech teams.

Plutomen: Ahmedabad-based Plutomen, an Augmented Reality (AR) based self-assistance and remote collaboration platform, on Wednesday announced that it has raised funding of $0.3 million from GUSEC Seed Fund, DeVX Venture Fund, and industry-tech-focused HNIs.

Synapsica Healthcare: Delhi-based Synapsica Healthcare has raised funding of $4.2 million in Series A round backed by VC funds IvyCap Ventures and Endiya Partners.

Saarthi Pedagogy: Ahmedabad-based edtech startup Saarthi Pedagogy has raised $1 million in funding from JITO Angel Network, LetsVenture, Ecosystem Ventures and other marquee angels.

Kazam: Bengaluru-based IoT based charging station Kazam has raised $0.9 million in a seed round led by Inflection Point Ventures.

BigLeap: Hyderabad-based HR staffing, payroll, and recruitment firm BigLeap has raised $0.67 million in debt funding from Anup Kumar Yama and others.

Anvidha Technologies: Anvidha Technologies Private Limited has raised over $1.5 million in seed funding from its founders and selected HNIs to launch its eyewear platform EyeMyEye in India.

Superplum: Agritech startup raised $3.8 million in pre-Series A round from prominent angel investors.

Undisclosed deals this week

Pathfndr.io, PazCare, CareerSocially, Lavado, LegalPay, ApnaKlub, Green Cure, Kwik Foods, MicroDegree, DigiSparsh, The Switch Fix, Answer Genomics and Portl 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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