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During the week, as many as 30 Indian startups raised around $240.85 million in funding. These deals include 5 growth-stage deals and 20 early-stage deals. While 5 startups kept the transaction details undisclosed.
Last week, 30 early and growth-stage startups cumulatively raised around $248.87 million in funding.
Growth-stage deals
In the growth-stage funding landscape,edtech startup Leap raised $65 million in Series E round led by Apis Partners. B2B seafood startups Captain Fresh raised $30 million in its ongoing pre-IPO round. SaaS IT management platform SuperOps raised $25 million, and the supply chain startup also secured $12 million in Series C round from Evolvence India, Mirabilis Investment Trust.
Early-stage deals
Further, 20 early-stage startups secured funding worth $107.15 million during the week. B2B SaaS startup Atomicwork led the early stage funding with $25 million in Series A round followed by co-working firm Innov8, Senior citizen-focused healthcare services provider Geri Care, Telecom Astrome Technologies, Mobility startup VoltUp & others.
D2C handloom clothing brand Dressfolk, road safety products manufacturer Prisomoline & others also raised a sum but did not 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 12 deals followed by Delhi-NCR, Mumbai, Chennai, Patna & other cities.
Segment-wise, e-commerce startups are at the top spot with 5 deals. SaaS and Fintech startups followed with 3 deals each. Foodtech, Healthtech, Manufacturing & others also bagged the deals.
Series-wise deals
During the week, Seed funding deals led with 10 deals followed by Series A, pre-Series A, Series B, pre-seed and others.
Week-on-week funding trend
On a weekly basis, startup funding remained flat, dropping 3.22% to $240.85 million as compared to around $248.87 million raised during the previous week.
The average funding in the last eight weeks stands at around $349.53 million with 26 deals per week.
Key hirings and departures
This week saw several notable key hires. Zomato appointed its former Head of Growth, Shalin Bhatt, as the Head of its Dining-Out business. FlexiLoans also made significant executive appointments, naming Hemant Saklecha as Chief Credit and Risk Officer (CCRO) and Pavan Matai as the Head of its Supply Chain Finance vertical.
There were also notable departures this week. Sridhar Vembu stepped down as the Founder and CEO of Zoho, while the MD and CEO of Paytm Payments resigned from his position. Additionally, Clensta’s Co-founder and CBO also stepped down. Visit TheKredible for more details
Mergers and Acquisitions
Several notable acquisitions took place this week. Raise Financials acquired financial media startup Filter Coffee, while logistics firm Shadowfax took over CriticaLog. Nazara-owned NODWIN Gaming expanded its portfolio by acquiring e-sports startup StarLadder, and digital navigation company MapMyIndia secured a stake in AI startup SimDaaS. Visit TheKredible for more information.
Fund Launches
This week, Venture debt firm Trifecta Capital has announced the first close of its fourth and largest venture debt fund to date of Rs 2,000 Cr ($230 million). Early-stage angel VC firm Peaceful Progress Fund closes its maiden fund at Rs 50 crore. Veloce Fintech, a part of the Lemon Group, has launched its SEBI-registered Category-II Alternative Investment Fund (AIF), the Veloce Opportunities Fund.
Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights.
New launches and partnerships
▪️ CRED launches e₹ wallet in collaboration with RBI
▪️ Paras Chopra to launch advanced AI lab in India after $200 Mn exit
▪️ ONDC and CoRover collaborate to launch Mahakumbh AI Sahayata
▪️ ETO Motors partners with FlixBus to venture into intercity electric bus operations
▪️ The Derma Co launches its first brand outlet in Gurugram
▪️ Easebuzz partners with Zepto enhance the payment infrastructure
▪️ Anq introduces RuPay On-The-Go on X Card for hassle-free transit
▪️ Elever introduces quant-based Portfolio Management Services (PMS)
▪️ Paytm unveils QR Widget for instant payment collection on Android home screens
▪️ Pee Safe collaborates with National Games 2025 to promote women’s health and sustainability
▪️ Hyperone Energy to introduce India’s first EV moped with chain drive technology in 2025
▪️ Flipkart launches feature for credit card bill payments
▪️ Nutraceuticals brand Miduty expands into skincare with clean, science-based products
Financial results this week
▪️ Upstox profit jumps 8X to Rs 190 Cr in FY24
▪️ PB Fintech posts Rs 1,292 Cr revenue and Rs 72 Cr profits in Q3 FY25
▪️ CollegeDekho’s revenue shoots up 32% to Rs 216 Cr in FY24
▪️ CityMall hits Rs 450 Cr GMV in FY24 with steady losses
▪️ CarTrade posts Rs 176 Cr revenue and Rs 45.5 Cr profits in Q3 FY25
▪️ MapMyIndia posts Rs 32 Cr profit in Q3 FY25
▪️ Ixigo posts Rs 242 Cr revenue Q3 FY25; PBT jumps 54%
▪️ A23 reports Rs 841 Cr revenue and Rs 72 Cr profit in FY24
▪️ Man Matters-parent Mosaic Wellness clocks Rs 333 Cr revenue in FY24
Potential deals
▪️ InsuranceDekho to raise up to $100 Mn with bank's participation
▪️ Mukka Proteins to raise Rs 60 Cr in debt funding from Tata Capital
▪️ Former Tiger Global executive’s Tanglin Venture Partners to raise $250M for a new fund
▪️ D2C brand P-TAL in discussions to raise Rs 30 Cr in funding
▪️ Juspay is looking to race $150 million in a new funding round led by Kedaara Capital
▪️Mahesh Bhupathi backed Scentials to raise fresh funds from existing investors
News flash this week
▪️ OfBusiness converts into public company ahead of IPO
▪️ Accel, Prosus, and Bessemer representatives exit The Good Glamm Group
▪️ Zepto completes reverse flip from Singapore to India
▪️ North East Small Finance Bank to rebrand as Slice Small Finance Bank
▪️ Flipkart Group receives BSI code for organisational resilience
▪️ Lenskart kicks off IPO process, appoints two bankers
▪️ MobiKwik becomes the first fintech company to fully implement CBDC
▪️ Droom plans to submit draft papers for Rs 1,000 Cr IPO by June
▪️ Curefoods is in talks with bankers For $300-400 million IPO
▪️ Pine Labs set to submit IPO draft papers by mid-February
▪️ Shiprocket converts into public company, aims to list next year
▪️ Servify set to file DRHP for $500 Million IPO by August
Summary
On a weekly basis, startup funding remained flat, dropping 3.22% to $240.85 million as compared to around $248.87 million raised during the previous week.
Quick commerce platform Zepto has completed its transition from being domiciled in Singapore to India.
OfBusiness and Shiprocket have converted into public companies ahead of their potential IPOs.
Fintech unicorn CRED has launched a beta version of its e₹ wallet, developed in partnership with the Reserve Bank of India (RBI) and YES BANK as the sponsor bank.
North East Small Finance Bank Limited (NESFB) is set to rebrand itself as Slice Small Finance Bank Limited (Slice SFB).
Lenskart has initiated its IPO process by onboarding Kotak Mahindra Bank and Morgan Stanley as bankers. Several other companies, including Pine Labs, Servify, Curefoods, and Droom, are also preparing to file for IPOs in the near future.