Funding and acquisitions in Indian startups this week [15 Aug-20 Aug]

This week, 26 Indian startups raised funding, of which 22 received a total of about $147.4 million. Sunstone and Shiprocket were the top fundraisers which scooped up $35 million and $33 million respectively. Last week, 27 homegrown startups raised worth about $419 million. 

Meanwhile, the details of four of the total funded startups remained undisclosed. 

Growth/late-stage deals 

This week, three growth stage startups raised their new round which includes edtech startup Sunstone’s $35 million Series C round, logistics aggregator Shiprocket’s $33 million unicorn round and fintech startup Jar’s $22.6 million round.

Details of the 26 funding rounds can be found here.

Early-stage deals 

In the early stage, 23 startups have raised funds which also include four undisclosed rounds. SaaS startup Phyllo was on top of the list with a $15 million Series A round. The list also includes EV startup Exponent Energy and digital entertainment startup Rusk Media.

Undisclosed deals    

Mool Innovation Labs, Finverv,  PickMyAd, and Goodfellows did not disclose their financial details.   

City and segment-wise fundings   

This week, Bengaluru-based startups were on top in terms of the number of startup deals and the amount raised by them. According to Fintrackr’s data, 11 Bengaluru-based startups have raised funds this week amounting to $56.3 million or 38.22% of the total funding. During the week, Delhi-NCR-based startups raised $86 million across 8 deals. 

The complete breakdown of deals across cities and segments in the first half can be seen below: 

SaaS startups were the top segment in terms of the number of deals as startups in this space raised $17 million across 3 deals. Edtech, fintech, EV, D2C brands, logistics aggregators and adtech startups were next on the list. 

Mergers and acquisitions

Apart from the fundraisings, the week also saw three acquisitions. The list includes the acquisitions of fintech startup Ezetap by Razorpay, Enguru by Open English and FreeCo by PhysicsWallah.

Fund Launches

While the investment in startups is quite low, we saw three fund launches this week. Stride Ventures, a debt firm, announced the close of Stride Ventures India Fund II at $200 million. Venture capital firm Fundamentum Partnership also raised $227 million for its second fund which would be invested in early growth stage Indian startups. Another Venture capital firm Cactus Venture Partners (CVP) marked the first close of its maiden fund after securing Rs 350 crore or $44 million.

*Back next week with another deal roundup