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.

Neuron7.ai: Cloud-software company Neuron7.ai 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.

Locale.ai: Location analytics startup Locale.ai 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.

NimbleBox.ai: Tech startup NimbleBox.ai 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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