Indian startups see enterprise capital (VC) funding steadily rise in August because the startup ecosystem clocks just a few massive variety of offers.
Within the second week of August, startups raised a complete of $324 million throughout 27 offers in VC funding in contrast with $214 million within the earlier week—a optimistic improvement for the Indian startup ecosystem, which noticed weekly funding in July hovere across the $100-million stage.
This week, startups like Truemeds, Zepto, and Darwinbox secured funding offers above $40 million. Given the current setting, such transactions would qualify as excessive worth offers. Final time, a deal worth crossed over $100 million was in June, when B2B ecommerce unicorn Udaan raised $114 million.
Startup expectation has definitely risen with the regular improve in funding, however VCs are cautious because the macro financial setting continues to stay difficult, with no seen indicators of an upsurge in VC influx into the startup ecosystem.
In the meantime, VC companies proceed to lift capital, and this week noticed three new funds from Lavni Ventures, Atomic Capital and Speciale Make investments. The IPO market continues to evince startup curiosity. This week noticed Bluestone’s situation totally subscribed and Fractal Analytics saying its plan to lift cash.
Key transactions
Epharmacy and telehealth platform Truemeds raised $85 million from Accel, Peak XV Companions, WestBridge Capital, and Information Edge Ventures.
Fast commerce unicorn Zepto raised Rs 400 crore (about $45.6 million) from Motilal Oswal Monetary Providers.
SaaS startup Darwinbox raised $40 million from Academics’ Enterprise Development (TVG).
Aragen Life Sciences raised Rs 300 crore (about $36 million) from Avendus Future Leaders Fund III.
EV startup Ultraviolette Automotive raised $21 million from TDK Ventures, Zoho Company, and Lingotto.
D2C model Kimirica raised $15 million led by Carnelian Asset Administration LLP.
Fast companies platform Pronto raised $11 million from Normal Catalyst, Glade Brook Capital and Bain Capital Ventures.
Luxurious trip rental platform ELIVAAS raised Rs 87 crore (about $10.4 million) from Vertex Ventures, Peak XV Companions’ Surge, and 3one4 Capital.
{Hardware} startup Brandworks Applied sciences raised $7 million from Cactus Companions, Gujarat Enterprise Finance, Legacy Property, and the Hira Group.
Fintech Seeds Fincap raised Rs 50 crore (about $5.7 million) from Z47, Lok Capital, Norinchukin Capital, and Alteria Capital.
TplusA India, a furnishings model, raised $5.5 million from Livspace.
Fintech FincFriends raised Rs 41.5 crore (about $4.7 million) from IBL Finance, Moneywise Monetary Providers, Usha Monetary Providers, and others.
Edited by Suman Singh
