Funding in Indian startups this week (06 Sep-11 Sep)


This week 47 Indian startups raised funding, of which 42 received a total of $768.5 million. Cars24 raised about $258.6 million followed by Byju’s which raised $150 million.

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

Below is the summary of deals closed this week

Byju’s: Continuing its fundraising spree, edtech company Byju’s has raised around $150 million from three investors. The fresh fund has come at a time when the Bengaluru-based company is reportedly in talks with several investors to raise $1.5 billion at over $21 billion valuation.

Delhivery: Delhivery, the logistics unicorn has raised $76.4 million in funding from Addition, the firm founded by the high profile startup investor Lee Fixel.

Cars24: Cars24 has emerged as a leader in the used car space and it’s become more evident from the company’s scale, global ambition and its new round. The Gurugram-based venture has raised $258.6 million from eight investors.

Open: Neobanking platform Open has raised around $62 million in what appears to be a Series C round from Temasek, Google and existing investors such as Tiger Global Management and 3one4 Capital.

Leap Finance: Leap Finance, a fintech platform for Indian students pursuing higher education overseas, has raised $55 million in its Series C led by Owl Ventures. This is the second fundraise for the Bengaluru-based startup in 2021 which scooped up $17 million Series B in March.


Dukaan: Dukaan, an e-commerce enablement platform, has secured $11 million in its pre-Series A round led by 640 Oxford Ventures. The fresh funds have come almost a year after a $6 million seed round for the Bengaluru-based startup.

Vahdam: Vahdam Teas, an e-commerce startup that sells fresh teas, has raised Rs 174 crore or about $24 million in its Series D round led by IIFL AMC’s Private Equity Fund. 

CollegeDekho: Gurugram-based CollegeDekho, a platform for college admissions and education services, has raised $26.5 million (Rs 200 Crore) in an ‘ongoing and oversubscribed’ Series B funding round. 

WeRize: WeRize, a financial services platform for small towns, has raised $8 million in its Series A round led by 3one4 Capital, Picus Capital, Kalaari Capital, and Orios Ventures. 

Zeotap: Bengaluru and Germany-based Zeotap, the next-gen customer data platform, has announced raising an $11 million extension to its Series C funding round.

immunitoAI: immunitoAI, a biotech startup that is developing an AI-powered antibody discovery and screening platform, announced on Wednesday that it has raised $1 million in a seed round led by Pi Ventures, with existing investor Entrepreneur First also participating.

GameEon: Mumbai Angels Network, a premium startup investment platform for early-stage venture investments, Thursday said it invested $0.32 million in GameEon Studios, one of the newest entrants in the fast-growing gaming space.

Farmers Fresh Zone: Agritech startup Farmers Fresh Zone that made its name in the market with Know Your Farmer using traceability tech has raised Rs 6 crore or $0.8 million in pre-series A round through existing investors. 

Anveshan: D2C food brand Anveshan has raised $0.5 million in its seed round led by DSG Consumer Partners, Titan Capital and Anjali Bansal. Existing backers along with angels such as boAt Lifestyle and Beardo Founders have also participated.

Coutloot: Coutloot, an offline to online (O2O) social commerce platform, has raised $8 million in a pre-series round led by venture capital firm Ameba Capital. SOSV, 9Unicorns, Astarc Ventures also participated in the round, including existing investor Venture Catalysts. 

Nova Benefits: Nova Benefits, an employee wellness platform in India focusing on corporate health insurance, has raised a Series A round of $10 million led by Susquehanna International Group (SIG) and Bessemer Venture Partners. Existing investors Multiply Ventures, Better Capital, and Titan Capital also participated in this round.

Lido Learning: Edtech startup Lido Learning has raised $10 million in a round led by Ronnie Screwvala-helmed Unilazer Ventures.

Wellcurve: Online nutrition products platform Wellcurve has raised $600K or $0.6 million in its seed round led by 9 Harvard alumni as a part of Harvard’s President Management Programme.

Mega: Skill-based real-money gaming startup GetMega has raised $15 million in its Series B round from Nexus Ventures, Accel India and Hashed Venture Fund. The Bengaluru-based startup had earlier raised $9 million from Nexus Ventures and Accel India in its angel and Series A round.

Proeon: Pune-based food ingredient startup Proeon has raised $2.4 million in a seed financing round led by Shaival Desai with participation from Flowstate Ventures, Peak Sustainability Venture Fund I and others. 

Vidyakul: Vernacular edtech platform, Vidyakul has raised $500K $0.5 million in a bridge round led by We Founder Circle (WFC). JITO Angel Network and Thinkuvate have also participated in the round.

Goodmylk: Bengaluru-based foodtech startup GoodMylk has raised $1 million in a seed round extension from a clutch of domestic and international angel investors.

Fieldproxy: Fieldproxy, a no-code SaaS platform, has raised Rs 2 crore or about $0.27 million in its seed round led by LetsVenture, 2am VC and magic.fund. Angel investors such as KRS Jamwal, Ajit Despande, Kushal Khandwala, Nilesh Patel, Ketan Kothari and Shreya Rao have also joined the round.

Elixia Tech: Mumbai-based supply chain startup, Elixia Tech Solutions Ltd has raised $1 million in its pre-Series A funding round led by Rajasthan Venture Capital Fund (RVCF) and other angel investors.  

bitsCrunch: Chennai and Germany-based bitsCrunch, an emerging NFT focussed blockchain analytics startup, has raised a seed round of Rs 5.5 crore ($0.75 million) from Covalent, Double Peak, GenBlock Capital, Ledger Prime, MEXC Global, and Synaps.

Prolgae: Prolgae Spirulina, manufacturer and seller of superfood spirulina to various food and medical industries in the country, has raised $0.2 million in a seed funding round from angel investor Vijayan. 

Biddano: B2B healthcare supply chain platform, Biddano has raised $2 million in a new round led by Gokul Rajaram, board member at Coinbase and Pinterest. 

Geniemode: B2B cross-border sourcing and supply chain tech startup, Geniemode has raised $2.25 million in its seed round led by Info Edge Ventures. Angel investors such as Deepinder Goyal, Kunal Shah, Prashant Malik, Pankaj Gupta and others have also participated in the round.

Neokred: Neokred, a Bengaluru-based tech startup that provides open banking stack, has extended its seed round to raise an additional $0.5 million in funding from Virenxia Group, Rajesh Jain, and Nitin Agarwal.

Flipspaces: Interior design tech startup Flipspaces has raised $2 million in its pre-Series B round led by a consortium led by Prashasta Seth, ex-chief executive officer, IIFL AMC. Family groups and High Net Worth Individuals (HNIs) have also joined the round.

Fleek: Fleek, a subscription management platform, has raised $1 million in its seed round led by Axilor. RTP Global Ventures, Titan Capital and 9Unicorns Accelerator along with angel investor Ramakant Sharma and his syndicate have also participated.

GoKwik: GoKwik, an e-commerce enablement startup, has raised Rs 40 crore or $5.5 million in its pre-Series A round led by Matrix Partners India. RTP Global and a clutch of angel investors such as Jitendra Gupta, Nitin Gupta, Amit Lakhotia and others have also participated in the round.

InfyU Labs: Agritech startup InfyU Labs has raised Rs 1.8 crore or $0.25 million in a seed round from IAN. The round was led by angel investors – K.R.S. Jamwal, Sanjay Bansal and Vishnuraj Kunjur.  

Trillbit: Boston-based deeptech startup Trillbit, with an office in Bengaluru, has raised $1.5 million in its seed fund round from Chennai-based early-stage venture fund Refex Capital, and early-stage venture capital firm Good Growth Capital (GGC).   

TechEagle: TechEagle, a drone delivery startup, has raised $500K or $0.5 million in its seed round led by India Accelerator. Vinners Group, Sitics Logistics and other marquee angel investors have also participated in the round.

Voxelgrids: Zoho Corp. has invested $5 million for a 25% stake in Voxelgrids, a Bengaluru based startup that builds magnetic resonance imaging (MRI) scanners.

COGOS: Bengaluru-based enterprise logistics startup COGOS Technologies has raised $2 million in pre-Series A funding round led by Transworld Group, a global logistics and shipping firm.  

Gigforce: Gigforce, the tech-driven staffing startup with a focus on gig workers, Tuesday said it raised $3 million in pre-Series A round led by Endiya Partners, with participation from existing investor Unitus Ventures and key angels.

NeuroPixel.AI: Deeptech SaaS startup focused on apparel cataloging, NeuroPixel.AI has raised $825K or $0.8 million in its seed round led by Inflection Point Ventures. Entrepreneur First, Huddle, Dexter Angels and Rishaad Currimjee have also participated in the round.

Intello Labs: Artificial intelligence-focused agricultural technology startup Intello Labs has raised Rs 37.3 crore or $5 million in a round led by Avaana Capital which takes the company’s valuation to around Rs 246 crore or close to $34 million, as per Fintrackr’s estimates.

Clever Harvey: Clever Harvey, a career discovery platform focused on teenagers, said it has secured $1.5 million (Rs 11.03 crore) in a pre-Series A funding round led by TechNova Ventures.

SolRazr: Solana-based venture platform SolRazr has raised $1.5 million in Seed round from Moonrock Capital, Ascensive Assets, and Morningstar Ventures. Several notable funds including Genesis Block Ventures and Divergence also participated in the round.

Undisclosed deals this week

Sapio Analytics, GimBooks, TheRollNumber, OckyPocky and Setu.in 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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