funding

Funding and acquisition in Indian startups this week [24-29 July]

funding

This week, 20 Indian startups raised funding of about $51 million. Wiom and Ethereal Machines were the top fundraising startups that scooped up $17 million and $7.3 million respectively. Last week, 22 Indian startups raised funding worth $113 million. 

Meanwhile, the details of the five startups remained undisclosed. 

Growth/late-stage deals 

This week, only two growth stage startups including Vinculum Group and Pixxel announced their new funding. However, they did not disclose the details of the transaction.

funding

Details of the 20 funding rounds can be found here.

Early-stage deals 

Out of the total, 18 early-stage startups have raised funds, including three undisclosed rounds. Telecom startup Wiom was on the top with its $17 million Series A round. The list also features Ethereal Machines, Effectiv and Kapture CX among others.    

City and segment-wise deals    

This week, Bengaluru-based startups dominated the funding chart. According to Fintrackr’s data, 13 Bengaluru-based startups raised funds this week amounting to $26.45 million or 51.6% of the total funding. During the week, Delhi NCR-based startups saw four deals.

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

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

Acquisitions

Apart from fundraising, this week also saw a couple of mergers and acquisitions. Diversified financial services firm Pantomath has acquired 75% stake in AI-driven deal platform fundgini.com for an undisclosed amount while Marico acquired majority stake in plant based nutrition brand Plix.  

Layoffs

This week also saw two companies laying off their employees. The list includes Myntra and Milkbasket.

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ESOPs

Apart from fund launches, there were two ESOP buybacks as foodtech company Swiggy and EV startup Zypp announced their new stock buyback scheme.

*Back next week with another deal roundup

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