Funding and acquisitions in Indian startups this week [03-08 Apr]

This week, 20 Indian startups raised funding of about $565 million. DMI Finance and Curefoods were the top fundraising startups and scooped up $400 and $36.5 million, respectively. Last week, the fund inflow in the Indian startups stood at $106 million. 

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

Growth/late-stage deals 

This week, four growth and late startups raised funding. DMI Finance led the pack with a $400 million round followed by Curefood’s $36.5 million, and Avanti Finance’s $24 million Series B round. 

Details of 20 funding rounds can be found here.

Early-stage deals 

As many as 16 early-stage startups have raised funds, including one undisclosed round. EV startup Magenta Mobility was at the top with its $22 million Series A round. The list also features Spendflo, LightMetrics, Dozee and CometChat among others.    

City and segment-wise deals    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, 10 Bengaluru-based startups raised funds this week amounting to $86 million or 14.5% of the total funding. During the week, Mumbai-based startups raised $430 million across three deals.

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

Fintech startups led in terms of the number of deals and amount raised. SaaS, AI, cloud kitchen, EV, and agritech startups were next on the list.

Acquisitions

Apart from fundraising, the week also saw six acquisitions. The list includes the acquisition of loyalty tech startup Brierley+Partners by Capillary Technologies, Verak by InsuranceDekho, and HeroMindmine by Imarticus Learning among others.

Layoffs

This week, around five startups laid off their employees. Reliance-backed delivery firm Dunzo laid off 30% of its workforce, affecting nearly 300 people. Practo, 1K Kirana and ZestMoney are also firing several employees as per media reports.

Fund launches 

Apart from layoffs, the week also saw two startup fund launches. The list includes Iron Pillar’s $129 million fund and Speciale Invest’s $12.5 million fund.

*Back next week with another deal roundup