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Funding and acquisitions in Indian startups this week [06-11 Mar]

This week, 14 Indian startups raised funding of about $171.3 million. Mintifi and Zetwerk were the top fundraising startups and scooped up $110 and $12 million, respectively. Last week, the fund inflow in the Indian startups stood at $56 million, which was also the lowest funding in a weekly roundup in 2023. 

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

Growth/late-stage deals 

This week, five growth and late startups raised funding. Mintifi led the pack with its $110 million Series D raise followed by Bira 91’s $10 million round and Zaggle’s $6.2 million debt round. 

Details of 14 funding rounds can be found here.

Early-stage deals 

As many as nine early-stage startups have raised funds, including one undisclosed round. Gaming startup Fantasy Akhada was at the top with its $11 million Series A round. The list also features GreyQuest, Pidge, Probus, and Houseware, among others.    

City and segment-wise deals    

This week, Delhi-NCR-based startups dominated the funding chart. According to Fintrackr’s data, 5 Delhi-NCR-based startups raised funds this week amounting to $29 million or 18.2% of the total funding. During the week, Bengaluru-based startups raised $17.3 million across three deals.

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

SaaS and E-commerce (including D2C brands) startups led in terms of the number of deals and amount raised. Supply chain and gaming startups were next on the list.

Layoffs

While there is a decline in layoffs in startups in the past few weeks, upGrad let go 30% of its total workforce. 

*Back next week with another deal roundup

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