Funding and acquisitions in Indian startups this week [26 Sep-01 Oct]

This week, 27 Indian startups raised funding of which 23 received a total of about $210 million. Molbio Diagnostics and Adda247 were the top fundraisers which scooped up $85 million and $35 million respectively. Last week, 24 homegrown startups raised funding worth about $220 million. 

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

Growth/late-stage deals 

This week, seven growth stage startups raised their new funding which includes healthtech startup Molbio’s $85 million unicorn round and Adda247’s $35 million round.

Details of the 27 funding rounds can be found here.

Early-stage deals 

In the early-stage, 20 startups have raised funds including four undisclosed rounds. Biotech startup Elucidata was on top of the list with a $16 million Series A round. The list also includes SaaS startup Four Kites and B2B marketplace startup Saveo.

Undisclosed deals    

Sugar Watchers, Carbon Masters, Uma Robotics and  Syntellect 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, 14 Bengaluru-based startups have raised funds this week amounting to $55.3 million or 26.38% of the total funding. During the week, Mumbai and Delhi-NCR-based startups raised $15.4 million and $53 million across 6 and 5 deals respectively. 

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

D2C brands were the top segment in terms of the number of deals as startups in this space raised $6.24 million across 5 deals. Healthtech, EV, edtech, foodtech, fintech and SaaS startups were next on the list. 

Mergers and acquisitions

Apart from the fundraisings, the week also saw seven merger and acquisition deals The list includes the acquisitions of Rivigo's B2B express business by Mahindra Logistics, GUVI (majority stake) by HCL, PoshVine by Razorpay, Metaphy by JetSynthesis and DolphinChat by VeriSmart among others.

Fund launch

Growth stage focused fund Elev8 Venture Partners has announced the forthcoming launch of its $200 million India-focused sector agnostic fund. 

*Back next week with another deal roundup