Funding in Indian startups this week (05 July-10 July)


This week 34 Indian startups raised funding, of which 26 received a total sum of about $1331 million or $1.33 billion. Among them, Ola raised the highest funding of about $500 million, followed by Pine Labs, which raised $315 million.

Meanwhile, funding for 8 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week

Ola: Cab-hailing company Ola has raised $500 million from Temasek, Warburg Pincus’s Plum Wood and its founder Bhavish Aggarwal a day after it had sought permission from the Competition Commission of India to invest.

Furlenco: Subscription-based furniture rental company Furlenco has raised $140 million in a mix of debt and equity round led by Zinnia Global Fund. Existing backers CE-Ventures and Lightbox Ventures also participated in the Series D round. 

Pine Labs: Point-of-sale device company and merchant commerce platform Pine Labs has closed its ongoing fundraise at $600 million. This Singapore-registered company had raised $285 million as the first tranche of this round in May 2021. Since Entrackr had already reported Pine Labs’s first tranche on May 17, the remaining $315 million will be included in this week’s total funding amount.

Spinny: Full-stack used car retailing platform Spinny has raised around $108 million in its Series D round led by Tiger Global. The fresh round has come after a small gap of three months for the Gurugram-based company which scooped up $65 million in its Series C in April.


DealShare: Grocery and essentials focused social commerce startup DealShare has raised $144 million in a new round led by Tiger Global. 

Shiprocket: E-commerce shipping platform Shiprocket has raised $41.3 million in its Series D1 round led by PayPal Ventures, the corporate VC arm of PayPal. With this round, Shiprocket’s total funding brings to $94.3 million.

Vahak: Transport marketplace startup Vahak has raised $5 million in its pre-Series A funding round led by RTP Global with participation from Leo Capital and Luxor Capital. 

Teachmint: Edtech startup Teachmint has raised $20 million in its pre-Series B round led by existing investor Learn Capital with participation from CM Ventures.

Infra.Market: Marketplace for construction materials, Infra.Market has raised Rs 100 crore ($13.4 million) in venture debt funding from Alteria Capital.  

Twid: TWID, a rewards-based payment network, has raised $2.5 million in funding led by BEENEXT and Sequoia Capital India’s accelerator program Surge. 

MyMobiForce: Crowdsourcing platform MyMobiForce has raised $1.42 million in its pre-Series A round of funding led by Bharat Inclusion Seed Fund. 

Genworks Health: GE Wipro-backed Genworks Health, a medical device distributor in Tier II/III India, has raised $2 million from Blacksoil.

BeatO: Delhi based healthtech startup BeatO has raised $5.65 million in its pre-Series B round of funding led by W Health Ventures. PharmEasy, Merisis VP, and existing investors Orios VP, Leo Capital, and others have also participated.

CRMNEXT: CRMNEXT, a Noida-headquartered digital and customer experience transformation platform for enterprise and financial service providers, has raised $16 million in its Series B round of funding led by Avataar Ventures and Ascent Capital.

Earth Rhythm: Gurugram-based clean beauty personal care D2C brand Earth Rhythm has raised $1.2 million in its seed funding round from Anicut Angel Fund, the equity arm of Anicut Capital.

Fountain9: AI-led startup in the predictive inventory planning space Fountain9 has raised $1.9 million in its seed round of funding from a clutch of investors such as Binny Bansal-backed 021 Capital, Y Combinator, Titan Capital, Globevestor, and others. 

Skylark Drones: Drone company Skylark Drones has raised $3 million in a pre-Series A funding round co-led by investors InfoEdge Ventures and IAN Fund with participation from AdvantEdge Founders, Fowler Westrup, Redstart Labs, IKP and Vimson group.

Rockclimber: Bengaluru-based beverage brand Rockclimber has raised $1 million from angel investor Anand Prakash Sharma.

SpEd@home: Mumbai-based edtech startup SpEd@home has raised $0.3 million in its initial funding round led by financial experts and advisors, from a venture capital company based in Singapore and other high net worth individuals.

Green Soul Ergonomics: Thane-based D2C startup Green Soul Ergonomics has raised $0.2 million in its first round of external financing from Velocity.in

goSTOPS: Backpacker hostel brand goSTOPS has raised $1 million in its Pre-Series A round led by Indian Angel Network (IAN) and Yuj Ventures. 

Powerplay: Construction management app Powerplay has raised $5.2 million in funding led by Accel Partners and Sequoia Capital’s accelerator program Surge. Kunal Bahl and Rohit Bansal and India Quotient also participated in the round.

Neverinstall: Neverinstall has raised $0.37 million in its seed funding round led by deep-tech venture capitalist Speciale Invest.

DanaMojo: DanaMojo, a Bengaluru-based startup that provides an online payment gateway to non-profit organizations has raised $0.4 million in its first round of funding led by Rohini Nilekani of Arghyam Foundation, and Social Alpha, a multistage curation and venture development platform.

Tjori: Online fashion brand Tjori said it has signed an equity deal of $2.15 million with the Indian media firm Hindustan Times. 

Botman: Cybersecurity software as a service startup Botman has raised $0.2 million (Rs 1.5 crore) as part of its seed funding round 

Casino: Cybersecurity software as a service startup Team-dignitas has raised $0.1 million (Rs 1.1 crore) as part of its seed funding round 

Undisclosed deals this week

Leegality, Arcatron Mobility, PeakPerformer, Pocketly, CanPe, Codedamn, Biocraft and CoRover 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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