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Funding in Indian startups this week (26 July-31 July)


This week 43 Indian startups raised funding, of which 39 received a total sum of about $814 million. Gupshup raised the highest funding of about $240 million, followed by OfBusiness, which raised $160 million.

Meanwhile, funding for 4 of the total funded startups remained undisclosed.

Below is the summary of deals closed this week

Gupshup: Business to business conversational messaging platform Gupshup has raised an additional $240 million in follow-on funding from an industry-leading group of investors including Fidelity Management, Tiger Global, Think Investments, Malabar Investments and others.

OfBusiness: B2B e-commerce platform OfBusiness has raised $160 billion at a valuation of $1.6 billion led by SoftBank.

ShareChat: Mohalla Tech, which operates social media app ShareChat and short video sharing app Moj, has raised $145 million as an extension of Series F led by Temasek, Moore Strategic Ventures and Mirae-Naver Asia Growth Fund.

Ixigo: Travel marketplace, ixigo has raised $53 million led by the Singapore sovereign wealth fund GIC.

Mamaearth: Baby and mother care brand, Mamaearth has raised $50 million in a round led by Belgian investment fund Sofina in participation with existing backer Sequoia Capital. Since Entrackr had already reported Mamaearth’s first tranche worth $27 million on July 22, the rest $23 million will be included in this week’s total funding amount.

MyGlamm: Omnichannel direct-to-consumer beauty brand MyGlamm said it has raised an additional Rs 355 crore or $47 million as part of its Series C financing round led by Accel, along with participation from existing investors including Amazon.

GOAT Brand Labs: GOAT Brand Labs has scooped up $36 million in its maiden institutional round from Tiger Global Management, Flipkart Ventures and Mayfield.


Minimalist: Homegrown skincare brand Minimalist has raised $15 million in its Series A round led by Sequoia Capital India with participation from Unilever Ventures.

Easy: Mortgage tech startup Easy raised $15 million led by Xponentia Capital Partners and other VC funds.

3SC: Supply chain and logistics startup 3SC raised $15 million led by GEF Capital’s South Asia Fund.

Biconomy: Blockchain startup Biconomy raised $9 million led by DACM and Mechanism Capital, with participation from other investors.

Zingbus: Intercity mobility startup Zingbus has raised Rs 44.6 crore or close to $6 million in its pre-Series A round led by Infoedge Ventures in participation with Silicon Valley-based investors such as Founders Club, Pioneer Fund, Anim Fund, Locus Ventures, and Liquid 2 Ventures.

Strata: Real estate startup Strata raised $6 million from Kotak Investment Advisors Limited, Gruhas Proptech, and Sabre Investments.

Axio Biosolutions: Medtech startup, Axio Biosolutions has raised $6 million led by TrueScale Capital.

90+ My Tuition App: Edtech startup 90+ My Tuition App has raised $5 million from Pearl Investment LLC.

I am Love: Nutraceutical skincare brand I am Love raised Rs 35 crore or $4.7 million from Xentel Investments.

Flam: AR-based social networking app, Flam raised $3.5 million led by Inventus Capital SV, Silicon Valley Quad, and other investors.

Rocketium: Creative automation platform, Rocketium raised $3.2 million from Emergent Ventures, 1Crowd, LetsVenture, and Blume Ventures.

Veera: Digital health platform for women, Veera Health has raised $3 million in a round led by Sequoia Capital India and Global Founders Capital.

SP Robotic Works: AI-based edtech startup SP Robotic Works has raised $3 million in its Series A round of funding led by Mount Judi India Growth Fund. BCCL and its existing investors Indian Angel Network including angel investors such as Ajai Chowdhry, Raman Roy and others have also participated.

Swift: Tech startup Swift raised $2.2 million from Kalaari Capital along with FirstCheque, Indian Angel Network, and other angel investors.

Eloelo: Social gaming and live streaming platform Eloelo has raised $2.1 million in a pre-Series A round of funding led by Waterbridge Ventures and Lumikai Fund. Better Capital and Exceed Entertainment have also participated in this round.

JetSynthesys: Digital entertainment tech startup, JetSynthesys raised $2 million from Sachin Tendulkar.

Edukemy: Edtech startup Edukemy has raised $2 million from Auxano, Falcon5, and angel investors.

Wasabi: Bengaluru-based tech startup, Wasabi has raised $1.8 million led by Ankur Capital with participation from 021 Capital and Sparrow Capital.

Gumlet:  SaaS startup, Gumlet has raised $1.6 million led by Sequoia Capital India’s Surge.

Murf.ai:  AI-enabled voice-over startup, Murf.ai has raised $1.5 million in seed funding led by Elevation Capital.

Knorish: Edtech startup Knorish raised $1.1 million led by Inflection Point Ventures, along with participation from Rockstud Capital, Pentathlon Ventures and others.  

Bandhoo: Bandhoo, a startup focused on the construction sector, raised $1.1 million from Unitus Ventures, Bharat Innovation Fund, and others.

MYFITNESS: Health and fitness-focused food startup MYFITNESS raised $1 million led by 9Unicorns and other angel investors.

Fixcraft: Auto service startup Fixcraft raised $1 million from angel investors.

Insane AI: Insane AI, a fitness app, raised $0.87 million led by pi Ventures, along with a clutch of angel investors.

Immensitas: Immensitas raised Rs 6.30 crore or $0.84 million led by Artha Venture Fund (AVF), with participation from LogX Ventures.

Chai Waale: Tea brand Chai Waale raised Rs 5 crore or $0.7 million from angel investors.

Pencilton: Fintech startup Pencilton raised $0.33 million led by Jupiter and other angel investors.

ReDesyn:  Merchandise platform Redesyn raised $0.3 million from Anthill Ventures. Siliconroad VC, LetsVenture, and others.

Ourbetterplanet: Artisanal marketplace Ourbetterplanet raised $0.3 million from a group of angel investors.

NewsReach: Digital media startup NewsReach raised $0.3 million from JITO Angel Network along with ShuruUp Ventures and FAAD Network.

Inspacco: Service tech startup Inspacco raised $0.2 million in an angel round.  

 Undisclosed deals this week

Droom, Streak, L4o.in, and Keeros 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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