Funding and acquisitions in Indian startups this week [30 Jan-04 Feb]

This week, 13 Indian startups raised funding of which 11 received a total of about $87 million. Enzene Bioscience was the top fundraising company that scooped up $50 million. This is a sharp decline from $120 million in the last week and $525 million in the previous week.

Meanwhile, the transaction details of two startups remained undisclosed. 

[Growth/late-stage deals] 

This week, only Enzene Bioscience raised $50 million in a new round in the growth stage deals.

Details of 13 funding rounds can be found here.

[Early-stage deals] 

In the early-stage, 12 startups have raised funds including two undisclosed rounds. SaaS startup Freightify was on top of the list with a $12 million Series A round. The list also includes Profit.co, CapGrid, The Esports Club and Nourish You among others. 

[Undisclosed deals]    

Moat School and Abhinav Maths did not disclose their financial details.   

[City and segment-wise deals]    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, six Bengaluru-based startups have raised funds this week amounting to $17 million. During the week, Delhi-NCR-based startups raised $7 million across two deals.

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

Edtech startups were the top segment in terms of the number of deals and amount raised. E-commerce (including D2C brands) and healthtech startups were next on the list.

[Acquisitions]

Apart from fundraising, the week also saw one merger and acquisitions deal as workshop chain startup SpeedForce got acquired by ReadyAssist.

[Layoffs]

This week, over 1,100 employees have been laid off by three companies: Byjus, Onsitego, and FarEye. Last week, around four companies sacked more than 500 employees in the ongoing funding winter.

[Fund launches]

Apart from layoffs and acquisitions, this week also saw two fund launches for Indian startups. The list includes IndoSpace’s $205 million fund launch and Courtside Ventures’ $100 million fund. 

*Back next week with another deal roundup