Last Week Funding [February 8-13]: More than $300 million raised by Indian Startups

  • The second week of this month saw more than $300 million funding raised by Indian startups including VerSe Innovation, Pepperfry, BharatPe, among others.
  • Social ecommerce platform Meesho is reportedly in talks to raise funding at a billion-dollar valuation.
  • Mahindra Group Chairman Anand Mahindra personally invested in space technology startup Agnikul Cosmos.

During the second week of February 2021 [February 8-13], Indian startups managed to raise about $330 million in funding. Prior to this week’s funding round, The Indian startup ecosystem has seen a total venture capital infusion of more than $330 million.

HYPD Store, Codingal, and Zingbus had raised an undisclosed amount in funding from investors, including Y Combinator, ScoopWhoop, Venture Catalyst, Titan Capital, Better Capital, and VCs Ritesh Agarwal (Founder of OYO Rooms).

The week saw the fundings from both global and Indian venture firms such as Singapore-based Mars Growth Capital, InnoVen Capital, US-based ViewTrade Holdings, UK-based Better Capital, Singapore-based Mage Hold, US-based Owl Ventures, Accel Partners, SME-focused TIW Private Equity, Iron Pillar Fund, Aflac Global Ventures, Manipal Hospitals, US-based SOSV, Hornbill Capital Adviser, Stride Ventures, US-based Nexus Venture Partners, Mumbai Angels, TiE, Expert Dojo, InCred Financial Services, Vivriti Capital, Northern Arc Capital, Canada-based Wurk, Paragon Partners, NABVENTURES, Inflection Point Ventures, JITO, England-based RTP Global, Elevation Capital, Uncorrelated Ventures, HACK VC, BEENEXT, Steadview Capital, Sequoia Capital, Ribbit Capital, Insight Partners, Coatue Management, 9Unicorns, MG Group, and RAMC.

Besides venture capital firms, angel investors, including Gaurav Munjal, Roman Saini, Kalyan Krishnamurthy, Hemesh Singh, Kunal Shah, Girish Mathrubootham, Sujeet Kumar, Harshil Mathur, Shashank Kumar, Pramod Agarwal, Rony Kahan, Justin Mateen, Ritesh Agarwal, Anupam Mittal, among several other also invested in the startups.

Funding Deals

Fintech startup ePayLater raised $2.5 million from Pravega Ventures with participation from other investors.

Furniture ecommerce company Pepperfry raised Rs 35 crore ($4.8 million) in a debt funding round led by Temasek Holdings backed InnoVen Capital.

Fintech startup EduFund raised $343K (Rs 2.5 crore) in a pre-Seed funding round led by New Jersey-based financial company ViewTrade Holdings Corp with participation from other investors.

P2M fintech startup BharatPe raised $108 million led by Coatue Management at a valuation of $900 million.

Watertech startup Swajal raised $1.6 million from Rajasthan Asset Management Company’s (RAMC) RVCF – India Growth Fund III, along with the participation from other investors.

Healthcare startup PhableCare raised $12 million from healthcare firm Manipal Hospitals and a US-based existing investor SOSV.

Cross-border trading startup GlobalFair raised $2 million from India-focused early-stage investor Saama Capital and Mumbai-based investment firm India Quotient.

Edtech startup Newton School raised $5 million from London-based global investment firm RTP Global.

Micro-savings platform Siply Services raised $1 million from Jain International Trade Organization (JITO) and Inflection Point Ventures.

Unicorn Dailyhunt parent company VerSe Innovation raised $100 million from Qatar Investment Authority (QIA) and US-based investment management firm Glade Brook Capital Partners.

Online meat and seafood brand TenderCuts raised $15 million from Paragon Partners and NABVENTURES.

Nazara Technologies raised Rs 100 crore from Instant Growth Limited.

Rural lending startup Savagram Fincare raised $10.5 million from Elevation Capital (formerly SAIF Partners), along with the participation from the existing investor Elevar Equity. 

Celebrity engagement platform Unlu raised Rs 9 crore from Nexus Venture Partners with participation from Mumbai Angels, TiE, and Expert Dojo.

Digital process automation platform AutomataPi raised Rs 3 crore from Indian Angel Network (IAN).

Water ecommerce startup OwO Technologies raised an angel round of Rs 1.5 crore from ah! Ventures angel platform along with Marwari Angels and others.

Undisclosed Funding Deals

Online bus aggregator startup Zingbus raised an undisclosed amount in funding led by Venture Catalysts, Titan Capital, and Better Capital, along with angel investors.

Content-commerce discovery platform HYPD Store raised an undisclosed amount in a pre-seed strategic funding round led by digital media company ScoopWhoop.

Edtech startup Codingal raised an undisclosed amount from Y Combinator.

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