Funding in Indian startups this week (09 Aug-14 Aug)

This week 27 Indian startups raised funding, of which 24 received a total of $1555 million or $1.55 billion. Eruditus raised the highest funding of about $650 million, followed by Verse Innovation which raised $450 million.

Meanwhile, funding of three of the total funded startups remained undisclosed.

Below is the summary of deals closed this week

Eruditus: Edtech company Eruditus has become the latest entrant to the coveted club of unicorns. The Mumbai-based company, which offers executive courses, has raised $650 million in a new round led by Accel Partners and SoftBank Vision Fund II.

Verse Innovation: Verse Innovation, the parent company of vernacular news aggregator Dailyhunt and maker of short video entertainment app Josh, has raised $450 million in its Series I round led by Siguler Guff, Baillie Gifford and Carlyle Asia Partners.

upGrad: Ronnie Screwvala’s edtech startup upGrad has attained a unicorn status after raising fresh funds from Temasek, International Finance Corporation and IIF. The company has raised $185 million at a value of $1.2 billion, upGrad said in a press statement.

CoinCDX: Cryptocurrency exchange CoinDCX said it has raised $90 million in Series C funding at a valuation of $1.1 billion, making it the 22nd unicorn of 2021 in India in a year that is already a record-breaking year for startup funding in the country.

Doxel: Construction industry software-focused startup Doxel announced a $40 million fundraise in a round led by New York-based private equity fund Insight Partners.


Heads Up For Tails:  Heads Up For Tails, a pet care startup, raised $37 million from Verlinvest, Sequoia Capital India along with participation from existing investors.  

Miko: Miko, a child companion robot company, has raised $28 million in a Series B round from 30 investors. This is the second round for the Mumbai-based startup this year which raised $6.7 million led by IvyCap Ventures in April.

Credgenics: SaaS startup Credgenics raised $25 million from Westbridge Capital and Tanglin Venture Partners, along with participation from other angels.

Pickrr: SaaS startup Pickrr raised $12 million led by IIFL, Amicus Capital, and Ananta Capital. Existing investors also participated.

Log 9 Materials: Advanced battery tech startup Log 9 Materials has raised $8.5 million in a round led by Amara Raja Batteries. Existing backers Exfinity Ventures and Sequoia Capital India’s Surge and a clutch of new investors also participated in the Series A+ funding round. Cloud-software company has raised $4.2 million or about Rs 30 crore in its seed round led by early-stage venture capital firm Nexus Venture Partners and Battery Ventures. The firm has come out of stealth mode to announce this round.

Wiz Freight: Wiz Freight, a logistics tech startup, raised $3.5 million in seed round led by Axilor. Arali Ventures, Fundamental, and other angels also participated.

Ping: Social commerce startup Ping raised $3.5 million in seed funding round led by Elevation Capital.

Hash: Hash, a D2C millennial cigarette brand has raised close to $3.5 million or Rs 25 crore in a recently concluded angel round.  

Grip Invest: Fintech startup Grip Invest raised $3 million in Series A round led by Venture Highway and Endiya Partners.

Mudrex:  Crypto asset management platform Mudrex has raised $2.5 million in a seed round led by Nexus Venture Partners with participation from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal.

Blue Tokai Coffee Roasters: Speciality coffee startup Blue Tokai Coffee Roasters raised Rs 17 crore or $2.2 million from Anicut Angel Fund and other investors.

Kenko Health: Insurtech startup Kenko Health raised $1.7 million from Beenext and Orios. Other investors such as 9Unicorns and Waveform Ventures also participated.

Everstage: B2B software-as-a-Service (SaaS) startup, Everstage has raised $1.7 million in seed funding led by 3one4 Capital. Location analytics startup has raised Rs 9.6 crore or $1.3 million in its seed round led by Chiratae Ventures and Better Capital. Manik Gupta, Sidu Ponnapa, Kuldeep Dhankar, Khadim Batti and other angels also participated in the round. Tech startup raised $1 million led by Venture Catalysts and other investors.

FlashPrep: FlashPrep, an exam preparation startup, has raised $500K or $0.5 million in a pre-Seed round led by Venture Highway. The funding round also saw participation from Better Capital, First Cheque, and a few Angel Investors. 

BlueLearn: Edtech startup BlueLearn raised $0.45 million from Lightspeed, 100X.VC, Titan Capital and other angel investors.   

Whiz League: Edtech startup Whiz League raised $0.3 million from ITI Growth Opportunities, Stanford Angels & Entrepreneurs India, and others.

Undisclosed deals this week

MetroRide, Thinkly and KapTable 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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