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During the week, as many as 30 Indian startups raised around $248.87 million in funding. These deals include 5 growth-stage deals and 24 early-stage deals. While 1 startup kept the transaction details undisclosed.
Last week, 37 early and growth-stage startups cumulatively raised around $779.92 million in funding.
[Growth-stage deals]
In the growth-stage funding landscape,building material platform Infra.Market raised $125 million in Series F round. Agritech startup Arya.ag raised $30 million debt from HSBC, while Industrial robotics company, Ati Motors raised $20 million in Series B round led by Walden Catalyst Ventures & NGP Capital. B2B ecommerce platform Aris Infra Solutions and SaaS company VuNet Systems also raised funding.
[Early-stage deals]
Further, 24 early-stage startups secured funding worth $57.66 million during the week. D2C skincare brand Deconstruct led the early stage funding followed by beer brand Medusa, Home Service Marketplace Snabbit, Real estate document search platform Landeed, Agritech startup KisanKonnect, Deeptech CapGrid.
B2B2C fintech startup Spare8 also raised a sum but didn’t disclose the amount raised. For more information, visit TheKredible for more.
[City and segment-wise deals]
In terms of the city-wise number of funding deals, Bengaluru-based startups led with 8 deals followed by Delhi-NCR, Mumbai, Ahmedabad, Bhubaneshwar & other cities.
Segment-wise, e-commerce startups are at the top spot with 5 deals. Healthtech startups followed with 4 deals. Proptech, Food & Beverages, Agritech, SaaS, Fintech, AI & others also bagged the deals.
[Series-wise deals]
During the week, Seed funding deals led with 12 deals followed by Series A, pre-seed, Series B, pre-Series A and others.
[Week-on-week funding trend]
On a weekly basis, startup funding dropped 68.09% to $248.87 million as compared to around $779.92 million raised during the previous week.
The average funding in the last eight weeks stands at around $356.43 million with 26 deals per week.
[Key hirings and departures]
Several key appointments were made at Zetwerk this week, including Bharat Chopra, who will oversee Noida Operations; Kannan Krishnan, responsible for South Operations; and Santhoshkumar Ramakrishnan, appointed as AVP of Sales. Co-working space solutions provider Table Space appointed Karan Chopra and Kunal Mehra as Co-CEOs, with Chopra also taking on the role of Chairman of the Board. DigiHaat, a fully owned subsidiary of ONDC Network, has appointed Rahul Vij as its new COO.
PharmEasy, the online pharmacy company, is undergoing a significant change as three of its co-founders—Dharmil Sheth, Dhaval Shah, and Hardik Dedhia—have stepped down from the firm. The fourth co-founder, Siddharth Shah, will remain at the helm of the company. Visit TheKredible for more details
[Mergers and Acquisitions]
During the week, some major acquisitions took place in startup ecosystem with Hindustan Unilever Limited (HUL) acquired 90.5% stake in D2C skincare brand Minimalist for nearly $350 million (Rs 2,955 crore), Singapore-based PE firm Everstone acquired majority stake in SaaS company Wingify for $200 million and Hatsun Agro acquired dairy startup Milk Mantra. Dronetech listed company DroneAcharya announces strategic merger with AVPL aimed at enhancing drone manufacturing capabilities in India. Agritech platform DeHaat has acquired AgriCentral from Olam Agri. Visit TheKredible for more information.
[Fund Launches]
This week, Eximius Ventures, a pre-seed-focused venture capital firm (VC), has launched its second fund, targeting a corpus of $30 million. SamVed, a US-based venture capital firm, has announced the launch of a $50 million fund to support early-stage tech startups in India. Bharat Value Fund has announced the first close of its third investment fund, raising Rs 1,250 crore (approximately $144 million). Visit TheKredible for more details
Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights.
[New launches and partnerships]
▪️ DroneAcharya announces strategic merger with AVPL
▪️ SBI Payments and Pine Labs announced an expanded strategic alliance
▪️ KOGO and MapmyIndia launch Universal Voice Assistant for the automotive sector.
▪️ Unstop launches upskilling internship programme
▪️ Curefoods' Olio Pizza expands to new outlets under Reliance SMART partnership.
▪️ Dirtcube Interactive launches backend platform to empower game studios
▪️ KRAFTON launches ‘programme to empower aspiring Esports athletes
▪️ ETO Motors and Uber partner to support Hyderabad’s electric 3-wheeler ecosystem
▪️ Yuma launches battery and intelligent DIY swapping units
[Potential Deals]
▪️ Exclusive: Spinny in talks to mop up over $100 Mn in internal round
▪️ Celcius Logistics is talks with investors to secure approximately Rs 125 crore
[Financial results this week]
▪️ FabHotels gross revenue crosses Rs 550 Cr in FY24, losses widen 23%
▪️ Scaler nears Rs 400 Cr revenue in FY24; losses down by 58%
▪️ Ultrahuman income jumps 15x to Rs 107 Cr in two fiscal years
▪️ Toothsi parent MakeO reports flat revenue in FY24; losses trim 32%
▪️ Zolostays hits Rs 200 Cr revenue in FY24, trims losses
▪️ Blue Tokai posts Rs 216 Cr revenue with improved EBITDA margin in FY24
▪️ Zomato posts Rs 5,405 Cr revenue and Rs 59 Cr profit in Q3 FY25
▪️ Gameskraft achieves Rs 3,500 Cr income in FY24 with Rs 947 Cr PAT
▪️ Paytm posts Rs 1,828 Cr revenue and Rs 208 Cr loss in Q3 FY25
[News flash this week]
▪️ After PhonePe, Razorpay and Cashfree suspend integrations with Juspay
▪️ Skydo gets RBI Authorisation as Payment Aggregator-Cross Border entity
▪️ The ePlane Company secures DGCA nod for certification of eVTOL aircraft
▪️ Capillary Technologies plans to file its DRHP for a $200 million IPO by June
▪️ Groww to file draft papers for an IPO exceeding $1 billion by April-May
▪️ Nykaa incorporates new subsidiary in Oman
▪️ Paytm Cloud to establish subsidiaries in the UAE, Saudi Arabia, and Singapore
▪️ Zomato's 'District' app surpasses 6.5 million downloads
▪️ TAC Infosec establishes subsidiary to broaden presence in the UK and Europe
[Summary]
On a weekly basis, startup funding dropped 68% to $248.87 million as compared to around $779.92 million raised during the previous week.
In a strategic decision, leading payment aggregators Razorpay and Cashfree have chosen to end their partnership with the payment orchestration platform Juspay.
Groww is looking to file for Initial Public Offer (IPO) worth over $1 billion by April-May this year, while Capillary Technologies is also likely to file for a $200 million IPO by June this year.
Beauty e-commerce company, Nykaa established a new subsidiary in Oman while Paytm also plans to establish subsidiaries in UAE, Saudi Arabia and Singapore through its arm Paytm Cloud Technologies.
SBI Payments and Pine Labs have strengthened their 12-year partnership by announcing an expanded strategic alliance. This collaboration aims to accelerate the adoption of digital payments and digital commerce solutions.
Launched in November 2024, Zomato’s ticket booking app surpassed 6.5 million downloads within a few months of launch.