Monthly Funding Report: Indian startups raised $4.3 Bn in Nov; minted 7 unicorns

The fundraising spree for Indian startups continued in November as the month saw more investment as compared to the previous month. As per Fintrackr’s data, 34 growth and late-stage startups and 92 early-stage startups raised around $4.33 billion in November—a little over the $4.1 billion raised in October. Overall, 153 startups have raised funds in the month including 27 undisclosed rounds.

In November, seven startups—Good Glamm Group, Curefit, Mensa Brands, NoBroker, Spinny, Upstox and Slice—have attained unicorn status. October saw the entry of six startups into the coveted club of unicorns.

In Entrackr’s third edition of a monthly funding report, here are details of the top 10 deals in both the growth stage and early-stage investments for November:

Growth and late-stage deals

A total of 34 growth and late-stage startups scooped up $3.95 billion in November, up from $3.7 billion in the month prior. The top 10 startups in this list include Byju’s, Dream Sports, Spinny, Slice, NoBroker, Good Glamm Group, Mensa Brands, Purplle, Zoomcar and Shiprocket. While edtech decacorn Byju’s raised $1.2 billion in debt, fantasy sports platform Dream11’s parent Dream Sports has mopped up $840 million in its new equity round at $8 billion valuation. 

Used-car retailing platform Spinny, fintech startup Slice and proptech startup NoBroker were the next top funded companies in the list in November which raised $248 million, $220 million and $210 million respectively.

Details of the 153 funding rounds can be found here.

Early-stage deals

Ninety two early-stage startups collectively raised around $377 million in November. In the previous month, four more deals were done but the collective amount was slightly lower at around $365 million. Ten-minute grocery delivery startup Zepto was the flavour of the month as the Mumbai-based startup bagged $60 million in its maiden funding round. 

Other notable startups in early-stage fundraise were digital health and wellness startup Mosaic Wellness, EV startup Simple Energy, fintech startup Velocity and consumer experience startup Faze Technologies which raised $24 million, $21 million, $20 million and $17.4 million, respectively.

Undisclosed deals

In November, 27 startups did not reveal the details of their transaction. The list includes SatSure, TurboHire, Life Quest Club, RaoDo, CodeVidya, Videoform among others. Notably, all undisclosed fundings are in the early-stage startups.

Once again, Bengaluru-based startups have led the show as 56 startups from the city have raised funds in November followed by 39 startups based out of Delhi NCR. Mumbai and Pune were at third and fourth spot with 25 startups and nine startups respectively.

In the previous month, 60 Bengaluru-based startups joined the fundraise followed by Delhi NCR’s 40 and 30 were based out of Mumbai.

Segment-wise, SaaS, fintech and edtech space saw the most number of startup funding in November. SaaS startups registered 14 investments followed by fintech and edtech which received 12 and 11 investments respectively.

*Back next month with another deal roundup