Funding in Indian startups this week (23 Aug-28 Aug)


This week 33 Indian startups raised funding, of which 26 received a total of $236.1 million. Khatabook has raised the highest funding of about $100 million, followed by Mensa which raised $33 million.

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

Below is the summary of deals closed this week

Khatabook: Bookkeeping and e-commerce enabling platform Khatabook on Tuesday said it has closed a $100 million Series C funding round at a valuation of close to $600 million. The round was led by US-based VC firms Tribe Capital and Moore Strategic Ventures. 

MensaE-commerce rollup platforms in India inspired by the famed Thrasio model have continued to mop up fresh investment. After raising $50 million in a mix of debt and equity round, Mensa Brands has closed another $33 million from four existing investors.

Digit Insurance: General insurance provider Digit Insurance had announced in July that it raised $200 million at a valuation of $3.5 billion. While the details of the transaction are yet to be filed with the Ministry of Corporate Affairs, the company has raised a further Rs 121 crore or about $16 million from TVS Growth Fund and high net worth individuals.


Curefoods: Curefoods, which operates cloud kitchen brand Eat.Fit, has raised a $13 million Series A round led by Iron Pillar with participation from Nordstar and Binny Bansal. Leading angels Adil Allana, Rashmi Kwatra, Lydia Jett, and Kunal Shah also participated in the round.

Indiagold: Indiagold, a gold-centric lending startup, has scooped up $12 million in its Series A round led by Prosus-owned PayU and Alpha Wave Incubation. Better Tomorrow Ventures, 3one4 Capital, Rainmatter Capital and Leo Capital also participated in the round.

Camp K12: Edtech startup Camp K12 has raised $12 million in its Series A round led by Matrix Partners India and Elevation Capital. The duo had previously led a $4 million seed round in the Gurugram-based startup in April last year.

Bewakoof: D2C fashion brand Bewakoof has raised additional funding of Rs 60 crore or $8 million in a round led by InvestCorp. IvyCap Ventures and Spring Marketing Capital have also participated in the round.

Smytten: Smytten, a sampling and engagement platform for D2C brands, raised $6 million led by Fireside Ventures and other family offices.  

Breathe Well-Being: Digital therapeutics startup Breathe Well-Being has raised $5.5 million in its Series A round led by Accel. General Catalyst, 3one4 and Tiger Global’s Scott Shleifer have also joined the round.

SuperGaming: Game development studio SuperGaming has raised $5.5 million in its Series A round led by a clutch of investors such as Skycathcher, AET Fund, BAce Capital, Dream Incubator, 1Up Ventures and Icertis co-founder Monish Darda.

TartanSense: TartanSense, an AI-powered robotics solutions provider empowering small farm holders, has raised $5 million in its Series A round led by FMC Ventures and Omnivore with participation from its existing backer Blume Ventures.

AppsForBharat: AppsForBharat, a product studio focused on building apps for spiritual and devotional needs of Indian users, has raised $4 million in seed funding co-led by Sequoia Capital India and BEENEXT. The round also saw participation from WEH Ventures. 

Lumiq: Data and analytics company Lumiq has raised $2 million in its seed round led by Info Edge Ventures. Redstart Labs and angel investor Parampreet Bhasin have also joined the round.

Sporjo: Online sports-focused education, training and employability startup Sporjo has raised $2 million in its pre-Series A round led by private investor Punit Balan, chairman Punit Balan Group and Punit Balan Studios with the participation of other private investors.

Ruptok Fintech: Ruptok Fintech, a startup focused on providing loans against gold, has secured debt funding of Rs 14 crore or $1.9 million from Delhi-based NBFC Eclear Leasing and Finance.

 Advantage Club: Advantage Club, an AI-driven platform for employee management, has raised $1.7 million in a new round led by Y-Combinator, Broom Ventures, Liquid.vc and Kunal Shah. Angel investors from the US, Middle East and Southeast Asia have also joined the fresh round.

Tooliqa Innovations: Gurugram-based deep tech startup Tooliqa has raised $1.5 million in its pre-seed round led by Aditya Raj, Dipak Singh, and Deepak Bansal of MarketCube. A clutch of angels such as Dilip Singh, Raj Gupta, Sooraj Malik and Anant Jain have also participated.

Elda Health: Women health-focused startup Elda Health raised $1.5 million from Avaana Capital, Orios Ventures, and Ananth Narayanan Family Office.

FanPlay: Gaming startup FanPlay raised $1.2 million from Upsparks, Kunal Shah, Goodwater Capital, LetsVenture, Atrium Angels and angel groups.  

Kirana247: B2B FMCG e-commerce startup Kirana247 has raised $1 million in its pre-Series A round led by large financial institutions and serial entrepreneurs.

Syook: Enterprise tech startup Syook has raised $1 million in its Series A round led by Inflection Point Ventures (IPV) and Oil and Natural Gas Corporation (ONGC).

NOTO: Online food brand NOTO raised Rs 4 crore or $0.55 million from Titan Capital, Rockstud Capital, John Abraham, WEH Ventures, and others.

O’Be Cocktails: Alcoholic beverages startup O’Be Cocktails has raised Rs 3.5 crore or $0.47 million in an angel round led by First Cheque, Letsventure, Ola’s Bhavish Aggarwal and Ankit Bhati, Tracxn founder Abhishek Goyal, and Sprout Investments.

IsGoingOnline: Digital catalogue marketplace IsGoingOnline raised Rs 1.5 crore or $0.2 million from Artha Venture Fund, Unicorn India Ventures, SEA Fund, and Devdatt Shah.

Synth: AI-based knowledge platform Synth AI labs Inc., has raised $0.12 million in its new round led by Silicon Valley-based Y-Combinator. Synth has raised this round as a part of Y-Combinator’s Summer 21 batch.

B2Brain: Bengaluru and Delaware-based SaaS startup, B2Brain has raised $1 million from Ideaspring Capital and Arka Venture Labs.

Undisclosed deals this week

 Imagimake, Hike, Winvesta, NeoDocs, CommerceUP, Blowhorn, and Akudo 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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